Result of AGM

Downing TWO VCT plc
LEI: 213800HJGTPW7F8YEY55
Result of AGM
23 September 2010

At the Annual General Meeting (“AGM”) of Downing THREE VCT plc held on 23 September 2020, all resolutions were passed.

Details of the proxy votes in respect of the resolutions passed at the AGM received as at 11:00 a.m. on 21 September 2020, 48 hours before the time of the meeting (excluding weekends), at the receiving agent, Downing LLP, are set out below:

	For	Discretionary	Against		Withheld
Resolution No.	No. of	No. of	No. of	Total	No. of
	Votes	Votes	Votes	Votes Cast	Votes
	% of votes	% of votes	% of votes	% of votes
1	5,120,509	51,591	68,750	5,240,850	4,962
	97.70%	0.98%	1.31%	99.99%
2	4,436,256	74,136	387,338	4,897,730	348,082
	90.58%	1.51%	7.91%	100.00%
3	4,282,145	64,311	481,774	4,828,230	417,582
	88.69%	1.33%	9.98%	100.00%
4	4,884,960	51,591	270,374	5,206,925	38,887
	93.82%	0.99%	5.19%	100.00%
5	4,737,802	56,491	328,720	5,123,013	122,799
	92.48%	1.10%	6.42%	100.00%
6	4,721,682	56,491	333,845	5,112,018	133,794
	92.36%	1.11%	6.54%	100.00%
7	4,901,090	142,913	143,859	5,187,862	57,950
	94.47%	2.75%	2.77%	99.99%

A copy of the resolutions passed will be submitted to the National Storage Mechanism and will shortly be available for inspection at