Disposal of hydro assets and Dividend Declaration

29 November 2021

Triple Point VCT 2011 plc

(the "Company")

Disposal of hydroelectric assets and Dividend Declaration

Disposal of hydroelectric assets

Further to the Company's announcement on 29 September 2021, the Board is pleased to announce that on 26 November 2021 it completed on the sale of a substantial part of its hydroelectric power assets within the A Ordinary Share Class for total consideration of £4,245,725, and a substantial part of the hydroelectric power portfolio indirectly held through its interest in Broadpoint 3 Limited within the B Ordinary Share Class for a total consideration of £1,102,722. It remains the Company's intention to dispose of its interest in the remaining asset, Green Highland Shenval Ltd, held by the A Ordinary Share Class and indirectly held through Broadpoint 3 Limited in the B Ordinary Share Class, once a favourable sale price and terms can be achieved.

As announced on 29 September 2021, the Company conducted a competitive process and invited bids from some of the leading energy infrastructure investors in the UK which had a strong understanding of small scale run of the river hydroelectric assets. The Company received bids from all invited bidders, following which Triple Point Energy Efficiency Infrastructure Company plc ("TEEC") was selected as the preferred bidder for the portfolio, with reference to key criteria including total consideration, level of offer conditionality and acceptance of share purchase agreement terms. At the conclusion of the sale process, TEEC's final offer was considered the most attractive to the Company. TEEC, which invests exclusively in a diversified portfolio of Energy Efficiency assets in the UK, is managed by Triple Point Investment Management LLP, and as such, additional measures were implemented and carefully monitored to manage any potential conflict appropriately, including obtaining an independent third-party valuation.

The Company expects to return the net proceeds of the sale to its A and B shareholders, taking into account all relevant fees and costs, and any other legal or tax considerations, as soon as possible.

The Company will seek shareholder approval at a general meeting to wind down and ultimately cancel the A Ordinary Share Class at the appropriate time.

Dividend Declaration

The Board has today resolved to pay an interim dividend of 33p per share to A Ordinary Class Shareholders. The dividend will be paid on 23 December 2021 to A Shareholders on the register at the close of business on 10 December 2021. The ex-dividend date will be 9 December 2021.

Dividends to B Ordinary Shareholders in respect of the return of the net proceeds of the sale of the hydroelectric assets are expected to be made in the first quarter of 2022 in order for the Company to continue to satisfy the qualifying investment test under the Finance Act 2018 as required as a Venture Capital Trust. The Board will provide an update to B Ordinary Shareholders as soon as possible.

The Company will continue to consider if further dividends in respect of the sale of hydroelectric assets are appropriate.

FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:

The Company's LEI is 213800AOOAQA5XQDEA89

Further information on the Company can be found on its website https://www.triplepoint.co.uk/investments/triple-point-venture-fund/s7881/.

NOTES:

The Company is a Venture Capital Trust incorporated in July 2010. The Investment Manager is Triple Point Investment Management LLP. The Company was established to fund small and medium sized enterprises (SMEs). The Company launched a new share class, known as The Venture Fund, in March 2019 which is mandated to invest in SMEs producing products or digital services that solve challenges faced by their larger corporate customers.