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Proposed Increase in Size of Offer for Subscription Octopus Apollo VCT plc (“the “Company”) 3 Proposed Increase in Size of Offer for Subscription Further to the announcement released by Octopus Apollo VCT plc (the “Company ) on 25 September 2020 relating the Company s Offer for Subscription to raise up to £35 (£25 million with an over-allotment facility of a further £10 million) (the “Offer”), in the 2020/2021 and 2021/2022 tax years, the Board of the Company announces today that, due to investor demand, it is proposing to increase the size of the Offer from £35 million to £75 million (the Offer Increase ). Pursuant to an agreement relating to the Offer Increase between the Company and Octopus Investments Limited, the Company’s investment manager (the “Manager”), this offer increase constitutes a smaller related party transaction within Listing Rule 11.1.10 R, and the Manager will receive:

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