10 April 2018

FORBES VENTURES

(“Forbes” or the “Company”)

Investee Company Update

Forbes Ventures has been notified by its investee company, Civilised Bank Limited (the “Bank”), that the Bank has decided to release the banking licence granted to it by the Bank of England in 2017 and to reapply for a new licence to launch as soon as practicable. This decision was taken because delays in the Bank’s IT build mean that it will not meet its mobilisation deadline of 23 May 2018. The Bank’s Board of Directors decided that to release the Bank’s banking licence and to reapply while finalising the IT build is in the best interest of its shareholders.

Forbes holds 4,545 ordinary shares in Civilised Bank Limited.

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.