30 November 2018

FORBES VENTURES

(“Forbes” or the “Company”)

Investee Company Update

Forbes is pleased to announce that it has been notified by its investee company, Civilised Bank Limited (the “Bank”), that the Bank has resubmitted its banking licence application to the Bank of England and successfully raised an additional £10.0 million. Forbes Ventures holds 4,545 ordinary shares in the Bank.

Correction

On 28 September 2018, the Company’s announcement that Kirk Kashefi had been appointed as a non-executive Director of Forbes did not state that Mr. Kashefi was also a director of Cloudberry Consulting Limited, a company through which Mr. Kashefi provides consultancy services. There is no further information relating to Mr. Kashefi that is required to be disclosed pursuant to Paragraph 21, Appendix 1 of the NEX Exchange Growth Market Rules for Issuers.

The Directors of Forbes accept responsibility for the contents of this announcement.

ENDS

For further information, please contact:

Forbes Ventures

Peter Moss

Chairman

01625 568 767

Rob Cooper

Chief Executive Officer

020 3687 0498

AQSE Corporate Adviser

Peterhouse Capital Limited

020 7469 0930

Mark Anwyl & Allie Feuerlein

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.