THIS ANNOUNCEMENT HAS BEEN DETERMINED TO CONTAIN INSIDE INFORMATION. UPON PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

11 October 2022

 Triple Point VCT 2011 plc

(the "Company")

Disposal of gas fired energy assets

B Share Class Net Asset Value

Disposal of gas fired energy assets

The Board is pleased to announce that yesterday it completed on the sale of Green Peak Generation Limited within the Company's B Share Class for total consideration of £2,274,162 and the sale of Distributed Generators Limited within the Company's B Share Class for total consideration of £3,259,915, as part of a wider portfolio sale of gas-fired energy generation companies.

The Company conducted a competitive process and invited bids from some of the leading energy infrastructure investors in the UK, following renewed interest in these types of assets due to changes in the energy market landscape. The Company received bids from all invited bidders, following which Conrad Energy (Holdings) II Limited ("Conrad") was selected as the preferred bidder for the gas-fired generation projects, with reference to key criteria including total consideration, level of offer conditionality and high level of deliverability. At the conclusion of the sale process, Conrad's final offer was considered the most attractive to the Company.

The Board is focussed on returning the net proceeds of the sale of these assets to the B share class holders as soon as possible, and expects to be in a position to announce a dividend in the first quarter of 2023 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 Shareholders as soon as possible. In addition, at the appropriate time, a proposal will be put to shareholders for the wind-up and cancellation of the B Share Class, which is expected to be in 2023.

B Share Class Net Asset Value

As a result of the disposal of its gas fired energy assets, the Company announces that the unaudited net asset value ("NAV") per B Share as at 10 October 2022 was 80.00 pence per share (as at 28 February 2022 the audited NAV per B Share was 57.69 pence per share). This represents a 38.67% increase in the B Share NAV in comparison to 28 February 2022. The new unaudited NAV per B Share as at 10 October 2022 of 80.00 pence combined with total dividends per B Share paid to date of 20 pence brings the total shareholder return per B Share to 100.00 pence. The aforementioned NAV and total shareholder return figures include a deduction for a portion of outstanding investment management fees, with the remaining balance waived.

The B Share NAV has increased due to the sale of the gas fired energy assets at a share price significantly higher than the price at which they had previously been valued. The valuation of the B Share NAV was last updated as at 28 February 2022, when the assets were experiencing availability issues in relation to water ingress. The assets have since been fully repaired and are operating well. In addition, the energy market landscape has moved in favour of gas fired energy assets, which has led to significant improvements in trading performance.

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/current-vcts/triple-point-vct-2011-plc/s2539/

NOTES:

The Company is a Venture Capital Trust incorporated in July 2010 and was established to fund small and medium sized enterprises. The Investment Manager is Triple Point Investment Management LLP.