Portfolio Update

| Source: Octopus AIM VCT 2 plc Octopus AIM VCT 2 plc

Octopus AIM VCT 2 plc

18 August 2021

Portfolio Update

The investment portfolio of Octopus AIM VCT 2 plc (the "Company") as at 18 August 2021 is as follows (the valuations being the unaudited valuations, at bid price, as at 31 July 2021):

Investee CompanySectorBook cost (£000)Movement in valuation (£000)Fair Value (£000)
Learning Technologies Group plcSoftware and Computer Services7015,9356,636
Ergomed plcPharmaceuticals and Biotechnology8495,2436,092
Breedon Group plcConstruction and Materials5734,5735,146
GB Group plcSoftware and Computer Services3374,4424,779
Maxcyte, Inc.Pharmaceuticals and Biotechnology6902,8673,557
Craneware plcHealth Care Providers4792,8813,360
EKF Diagnostics Holdings plcMedical Equipment and Services8642,4303,294
Hasgrove plc*Media1532,8983,051
Trackwise Designs plcTechnology Hardware and Equipment1,2891,7443,033
SDI Group plcTechnology Hardware and Equipment1192,7972,916
Animalcare Group plcPharmaceuticals and Biotechnology8241,9062,730
Sosandar plcRetailers1,2351,3812,616
IDOX plcSoftware and Computer Services3562,1922,548
Gear4music (Holdings) PLCLeisure Goods3532,0062,359
Panoply Holdings plcSoftware and Computer Services6531,4652,118
Judges Scientific plcElectronic and Electrical Equipment2091,9082,117
Ilika plcEnergy7061,3342,040
Renalytix plcHealth Care Providers2281,7571,985
Brooks Macdonald Group plcInvestment Banking and Brokerage Services6101,1541,764
PCI-Pal plcSoftware and Computer Services7329901,722
Ixico plcPharmaceuticals and Biotechnology6979961,693
Intelligent Ultrasound Group plcMedical Equipment and Services1,2203981,618
Netcall plcSoftware and Computer Services3561,2211,577
Creo Medical Group plcMedical Equipment and Services9815871,568
VR Education Holdings plcSoftware and Computer Services1,2533151,568
LungLife AI, Inc.Pharmaceuticals and Biotechnology1,3861501,536
Next Fifteen Communications Group plcMedia3441,1451,489
Quixant plcTechnology Hardware and Equipment3911,0101,401
Popsa Holdings Ltd*Software and Computer Services7806181,398
Access Intelligence plcSoftware and Computer Services5018461,347
ReNeuron Group plcPharmaceuticals and Biotechnology1,0161701,186
Spectral MD Holdings LimitedHealth Care Providers1,410(335)1,075
Gamma Communications plcTelecommunications Service Providers183808991
Glantus Holdings plcIndustrial Support Services1,200(235)965
RWS Holdings plcIndustrial Support Services99857956
Verici Dx plcPharmaceuticals and Biotechnology264685949
Cambridge Cognition Holdings plcHealth Care Providers400543943
Gooch & Housego plcTechnology Hardware and Equipment281637918
Diaceutics plcHealth Care Providers620261881
Adept Technology Group PlcTelecommunications Service Providers502372874
Vertu Motors plcRetailers77694870
British Honey Company LimitedRetailers84031871
Advanced Medical Solutions Group plcMedical Equipment and Services495364859
Fusion Antibodies plcHealth Care Providers497245742
In the Style Group PlcRetailers66773740
Beeks Financial Cloud Group plcSoftware and Computer Services301356657
Polarean Imaging PlcMedical Equipment and Services458175633
GENinCode UK Ltd.Medical Equipment and Services800(182)618
Restore plcIndustrial Support Services171418589
Vectura Group plcPharmaceuticals and Biotechnology332228560
Clinigen Group plcPharmaceuticals and Biotechnology469(3)466
Synairgen plcPharmaceuticals and Biotechnology98337435
Cloudcall Group plcSoftware and Computer Services624(203)421
Evgen Pharma plcPharmaceuticals and Biotechnology700(280)420
Osirium Technologies plc Loan NotesSoftware and Computer Services4000400
Crimson Tide plcSoftware and Computer Services378(25)353
Mattioli Woods plcInvestment Banking and Brokerage Services101251352
Oberon Investments Group plcInvestment Banking and Brokerage Services32016336
DXS International plcSoftware and Computer Services20075275
Rosslyn Data Technologies plcSoftware and Computer Services286(16)270
Maestrano Group plcSoftware and Computer Services295(69)226
DP Poland plcTravel and Leisure678(457)221
Falanx Group Ltd.Industrial Support Services600(390)210
The Food Marketplace Ltd*Retailers2000200
Eluceda Limited*Pharmaceuticals and Biotechnology2000200
MyCelx Technologies CorpOil, Gas and Coal980(785)195
Trellus Health plcHealth Care Providers10974183
WANdisco plcSoftware and Computer Services9685181
Airnow plc*Software and Computer Services838(663)175
Escape Hunt plcTravel and Leisure659(493)166
KRM22 plcClosed End Investments454(295)159
TP Group plcAerospace and Defense452(301)151
Genedrive PlcPharmaceuticals and Biotechnology241(90)151
Verici DX plcPharmaceuticals and Biotechnology40106146
Abingdon Health plcMedical Equipment and Services347(206)141
Feedback plcMedical Equipment and Services200(60)140
Osirium Technologies plcSoftware and Computer Services900(770)130
Velocity Composites plcAerospace and Defense533(408)125
Enteq Upstream plcOil, Gas and Coal687(574)113
Parsley Box Group plcPersonal Care, Drug and Grocery Stores142(50)92
LoopUp Group plcSoftware and Computer Services197(120)77
Tasty plcTravel and Leisure336(280)56
Microsaic Systems plcElectronic and Electrical Equipment922(886)36
Mears Group plcSoftware and Computer Services50(17)33
Rated People Ltd*Software and Computer Services236(205)31
Diurnal Group plcPharmaceuticals and Biotechnology88(61)27
1Spatial plcSoftware and Computer Services200(178)22
Haydale Graphene Industries plcIndustrial Materials399(381)18
Midatech Pharma plcPharmaceuticals and Biotechnology400(398)2
Location Sciences Group plcSoftware and Computer Services509(508)1

Nektan plc is also in Octopus AIM 2's portfolio but has not been included in the above table as it is currently in administration and Octopus AIM 2 has written down its equity and loan note interest in this company to zero.

Since 31 July 2021 Octopus AIM 2 has made no new investments.

Since 31 July 2021 Octopus AIM 2 has made no disposals.

Unless otherwise stated, all the investments set out above:

- are quoted on public markets;
- represent equity investments except in the case of Nektan plc and Osirium Technologies plc which include investment through loan stock; and
- are in portfolio companies incorporated in the UK with the exception of:

Breedon Group plc – Jersey
Maxcyte Inc – USA
VR Education Holdings plc – Ireland
Falanx Group Limited – British Virgin Islands
MyCelx Technologies Corp – USA
Nektan plc – Gibraltar

*Denotes unlisted company

Current Asset Investments (unaudited)

Investee CompanySectorBook cost (£000)Movement in valuation (£000)Fair Value (£000)
Octopus UK Micro Cap Growth Fundn/a3,7403,3287,068
Octopus UK Multi Cap Income Fundn/a3,9261,2055,131
Money Market Fundsn/a3,48603,486

Since 31 July 2021 there have been no new investments or disposals of current asset investments.

The capitalisation of Octopus AIM 2 as at 31 July 2021 was as follows:

Shareholders' Equity £000’s
Called up Equity Share Capital13
Legal Reserves47,180
Other reserves83,130
Total130,323

There has been no material change to the capitalisation since 31 July 2021.

For further information, please contact:

Uloma Adighibe

Octopus Company Secretarial Services Limited
Tel: 020 3935 4186