Downing THREE VCT plc
27 February 2015
Following the payment of the dividend of 50p per C Share on 20 March 2015, based on the unaudited net asset values as at 30 November 2014 and assuming that various performance targets are met and a performance fee on the Management A Shares of the equivalent of 7p per C Share becomes payable, the Board estimates that the remaining net assets will be allocated between the C Shares and A Shares as follows:
| C Share Pence per share | A Shares Pence per share | Total Pence per share | |
| Estimated remaining net asset value (as at 30 November 2014 adjusted for dividend to be paid on 20 March 2015) | 21.9 | 14.0 | 35.9 |
| Dividends paid since launch (including dividend payable on 20 March 2015) | 75.0 | - | 75.0 |
| Total Return | 96.9 | 14.0 | 110.9 |