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We consider families of charged rotating asymptotically AdS5 Extremal black holes with Vanishing Horizon (EVH black holes) whose near horizon geometries develop locally AdS3 throats. Using the AdS3/CFT2 duality, we propose an EVH/CFT2 correspondence to describe the near-horizon low energy IR dynamics of near-EVH black holes involving a specific large N limit of the 4d N = 4 SYM. We give a map between the UV and IR near-EVH excitations, showing that the UV first law of thermodynamics reduces to the IR first law satisfied by the near horizon BTZ black holes in this near-EVH limit. We also discuss the connection between our EVH/CFT proposal and the Kerr/CFT correspondence in the cases where the two overlap.