11 November 2022

                                    Oxford Technology 2 VCT Plc (the "Company")

Legal Entity Identifier: 2138002COY2EXJDHWB30    

Cancellation of Share Premium Account and Capital Redemption Reserve 

The Company announces that earlier today the High Court of Justice confirmed the cancellation of the sum standing to the credit of the Company's share premium account and capital redemption reserve (the "Reduction of Capital"), which totalled £10,078,248.27.  The Reduction of Capital will become effective on registration of the Court Order at Companies House, which is expected to occur in the next few days.

The Reduction of Capital was approved by way of a special resolution passed by the shareholders of the Company at the general meeting held on 20 June 2022.

The purpose of the Reduction of Capital is to create distributable reserves which will provide the Company with the flexibility to support, amongst other things the payment of dividends and the buy-back of shares.

Enquiries: Lucius Cary Oxford Technology Management 01865 784466

This announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation No 596/2014 which is part of English Law by virtue of the European (Withdrawal) Act 2018, as amended. Upon the publication of this announcement via a Regulatory Information Service, this information is now considered to be in the public domain.