Maven Income and Growth VCT PLC

Net Asset Value

The Directors confirm:

·       Net asset value (NAV)¹ of 46.37p per Ordinary Share as at 30 November 2019, compared to 48.48p at 31 August 2019 prior to the payment of the interim dividend of 2.00p per Ordinary Share; and

·       NAV total return² of 143.28p per Ordinary Share as at 30 November 2019, compared to 143.39p at 31 August 2019;

Notes:

¹The NAV at 30 November 2019 is unaudited and reflects the closing bid price of quoted securities as at that date. Investments in unlisted companies are normally valued on a six monthly basis; the NAV incorporates the Directors' valuation of unlisted investments as at 31 August 2019, adjusted for subsequent events where appropriate.

²NAV total return is the sum of NAV per Ordinary Share and dividends paid per Ordinary Share since launch.

Issued on behalf of the Board

Maven Capital Partners UK LLP

Secretary

23 January 2020