NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR SOUTH AFRICA OR ANY JURISDICTION FOR WHICH THE SAME COULD BE UNLAWFUL. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN ANY JURISDICTION, INCLUDING IN THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA.

Amati AIM VCT plc

4 August 2021

Amati AIM VCT plc (the "Company")

Legal Entity Identifier: 213800HAEDBBK9RWCD25

Offer for subscription - Update

The Board of Amati AIM VCT plc (the "Company") announced on 28 July 2021 that the Company had published a prospectus (the "Prospectus") in connection with proposals to raise up to £40 million (with an over-allotment facility to raise up to a further £25 million), by way of an offer for subscription of new ordinary shares (the "Offer") (the "New Shares").

The Board has been advised that, on the basis of applications received, the Company has successfully raised £40 million under the Offer. The Board does not intend to utilise the over-allotment facility at the current time, but the Investment Manager is closely monitoring potential investment opportunities and, if it is felt appropriate, the Company will seek to raise further funds under the over-allotment facility prior to the Offer closing.

The first allotment of New Shares is expected to be on or around 9 August 2021. Dealings in the New Shares issued under this allotment are expected to become effective on 23 August 2021. The Company is no longer accepting applications in relation to the Offer. Investors whose applications are received after the Company raised £40 million will have their subscription monies returned in accordance with the terms and conditions of the Offer. If the over-allotment facility is to be utilised, the Company will make a further RNS announcement detailing the application process.

For further information, please contact the investor line at Amati Global Investors on 0131 503 9115 or by email at info@amatiglobal.com.

Notes

This announcement does not constitute or form part of any offer to issue or sell, or any solicitation of any offer to subscribe for or purchase, any investment in any jurisdiction, nor shall it (or the fact of its distribution) form the basis of, or be relied on in connection with, any contract therefor.