Notifications of Major Interests in Shares Schroder European Real Estate Investment Trust PLC (Incorporated in England and Wales) Registration number: 09382477 JSE Share Code: SCD LSE Ticker: SERE ISIN number: GB00BY7R8K77 For filings with the FSA include the annex For filings with issuer exclude the annex TR-1: Notifications of Major Interests in Shares 1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: Schroder European Real Estate Investment Trust Plc 2. Reason for the notification (please place an X inside the appropriate bracket/s): An acquisition or disposal of voting rights: (X ) An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached: ( ) An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments An event changing the breakdown of voting rights: ( ) Other (please specify): (X) Type 3 disclosure as per the Transparency Directive II Regulation 3. Full name of person(s) subject to notification obligation: Schroders plc 4. Full name of shareholder(s) (if different from 3): N/A 5. Date of transaction (and date on which the threshold is crossed or reached if different): 12 February 2016 6. Date on which issuer notified: 15 February 2016 7. Threshold(s) that is/are crossed or reached: From 19% - 18% 8. Notified Details: A: Voting rights attached to shares Class/type of shares Situation previous to the triggering transaction if possible use ISIN CODE Number of shares Number of voting rights Ordinary GB00BY7R8K77 21,500,000 21,500,000 Resulting situation after the triggering transaction Number of shares Number of voting rights % of voting rights Direct Direct Indirect Direct Indirect 22,386,825 10,750,000 11,636,825 8.867% 9.599% B: Qualifying Financial Instruments Resulting situation after the triggering transaction Type of Expiration Exercise/conversion No. of voting rights % of voting financial date period that may be rights instrument acquired if the instrument exercised/ converted N/A N/A N/A N/A N/A C: Financial Instruments with similar economic effect to Qualifying Financial Instruments Resulting situation after the triggering transaction Type of Exercise Expiration Exercise/ Number of % of voting rights financial price date Conversion voting rights instrument period instrument refers to N/A N/A N/A N/A N/A Nominal Delta Total (A+B+C) Number of voting % of voting rights rights 22,386,825 18.466% 9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable : Schroder Investment Company Limited 10,750,000 8.867% Schroder Investment Management Limited 11,636,825 9.599% Proxy Voting: 10. Name of proxy holder: N/A 11. Number of voting rights proxy holder will cease to hold: N/A 12. Date on which proxy holder will cease to hold voting rights: N/A 13. Additional information: Shares referred to in section 9 as held by Schroder Investment Management Limited are held in portfolios managed by Schroder Investment Management Limited on a discretionary basis for clients under investment management agreements. The shares held by Schroder Investment Company Limited are held directly. This disclosure has been calculated based on issue share capital amount 121,234,686. 14. Contact name: Ria Vavakis 15. Contact telephone number: 020 7658 2371 Date: 16 February 2016 Sponsor: PSG Capital Proprietary Limited Date: 16/02/2016 05:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.