AADV Albion Development Vct Plc

Offer Update

Albion Development VCT PLC (the "Company")

LEI Code 213800FDDMBD9QLHLB38

Albion VCTs Prospectus Top Up Offers 2022/2023

Following strong demand for the Company’s shares under the Albion VCTs Prospectus Top Up Offers 2022/23 (the “Offers”), (which was launched on 10 October 2022), the Board is pleased to announce that it has elected to exercise the Company's over-allotment facility referred to in the prospectus issued by the Company (and the other Albion VCTs named therein) on 10 October 2022 (the "Prospectus").

Accordingly, the maximum amount that the Company can raise under the Offers is increased from £8 million to £13 million (before issue costs).

The Offers opened on 10 October 2022 and are expected to close no later than 29 September 2023 (unless fully subscribed by an earlier date or previously closed).

A downloadable version of the Prospectus is available from www.albion.capital. Copies of the Prospectus are available, free of charge, from the Companies' registered office at 1 Benjamin Street, London, EC1M 5QL.

Terms used in this announcement have the same meaning as defined in the Prospectus.

Enquiries:Will Fraser-AllenManaging Partner, Albion Capital Group LLPInvestment ManagerTel: 0207 601 18504 January 2023

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