Introduction
I present Albion Technology & General VCT PLC (the“Company”)'s interim management statement for the period from 1 July 2025 to 30 September 2025.

Performance
The Company's unaudited net asset value (“NAV”) as at 30 September 2025 was £269.0 million or 70.77 pence per share (excluding treasury shares), an increase of 0.07 pence per share (0.1%) since 30 June 2025.

After accounting for the second dividend for the year ending 31 December 2025 of 1.77 pence per share paid on 31 October 2025 to shareholders on the register on 3 October 2025, the NAV is 69.00 pence per share.

Fundraising
On 23 October 2025 the Company announced the publication of its prospectus for the Albion VCTs Top Up Offers 2025/26 of new Ordinary shares seeking to raise up to £20 million, with an overallotment facility of up to an additional £10 million, before issue costs. The Offers opened for applications on 3 November 2025. Further details can be found at .

Portfolio
The following investments have been made during the period:

Top ten holdings as at 30 September 2025:

A full breakdown of the Company's portfolio can be found on the Company's webpage on the Manager's website at .

Share buy-backs
It remains the Board's policy to buy back shares in the market, subject to the overall constraint that such purchases are in the Company's interest, including the maintenance of sufficient resources for investment in existing and new portfolio companies and the continued payment of dividends to shareholders.

It is the Board's intention for buy-backs to be at around a 5% discount to net asset value, so far as market conditions and liquidity permit.

Material events and transactions after the period end
The Company paid a dividend of 1.77 pence per Ordinary share on 31 October 2025 to shareholders on the register on 3 October 2025. The Company issued the following Ordinary shares of nominal value 1 penny per share under the dividend reinvestment scheme:

On 23 October 2025, the Company announced the publication of its prospectus for the Albion VCTs Top Up Offers 2025/26 as detailed in the Fundraising section above.

In November 2025, the Company disposed of its holding in The Evewell Group for initial proceeds of £5.4 million, representing a 2.8x return on cash invested (including interest and dividends received) with the potential to return 3.2x through an earnout.

There have been no other material events or transactions after the period end to the date of this announcement.

Autumn Budget & VCT Legislation
Following the Chancellor's Autumn Budget announcement on 26 November 2025, the Government will modernise the VCT scheme by doubling the asset and investment limits for VCTs. We welcome this change; a move Albion Capital has long campaigned for. This amendment reflects the reality of scaling a business in 2025 and will allow us to back our most successful portfolio companies for longer, potentially driving greater capital value growth within the portfolio.

Simultaneously, the Government has also announced that from 6 April 2026, upfront income tax relief on new VCT investments will be reduced from 30% to 20%. We recognise that the reduction in tax relief is disappointing, and we will therefore contribute to the Government's call for evidence making the case that this change should be reversed.

Further information
Further information regarding historic and current financial performance and other useful shareholder information can be found on the Company's webpage on the Manager's website at .

Clive Richardson, Chairman
2 December 2025

For further information please contact:
Vikash Hansrani
Operations Partner
Albion Capital Group LLP - Tel: 020 7601 1850

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