Notification Of Major Holdings 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 TR-1: Standard form for notification of major holdings NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)i 1a. Identity of the issuer or the underlying issuer of existing Schroder European Real Estate Investment Trust plc shares to which voting rights are attachedii: 1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate) Non-UK issuer 2. Reason for the notification (please mark the appropriate box or boxes with an “X”) An acquisition or disposal of voting rights X An acquisition or disposal of financial instruments An event changing the breakdown of voting rights Other (please specify)iii: 3. Details of person subject to the notification obligation iv Name Investec Wealth & Investment Limited City and country of registered office (if applicable) London, England 4. Full name of shareholder(s) (if different from 3.)v Name N/A City and country of registered office (if applicable) N/A 5. Date on which the threshold was crossed or reached vi: 9th November 2017 6. Date on which issuer notified (DD/MM/YYYY): 10th November 2017 7. Total positions of person(s) subject to the notification obligation % of voting rights at- % of voting rights Total of both in % (8.A Total number of vot- tached to shares (total through financial + 8.B) ing rights of issuervii of 8. A) 1 instruments (total of 8.B 1 + 8.B 2) Resulting situation on the date on which 9.97% 9.97% 133,734,686 threshold was crossed or reached Position of previous notification (if 10.83% 10.83% applicable) 8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii A: Voting rights attached to shares Class/type of Number of voting rightsix % of voting rights shares ISIN code (if possible) Direct Indirect Direct Indirect (Art 9 of Directive (Art 10 of Directive (Art 9 of Directive (Art 10 of Directive 2004/109/EC) 2004/109/EC) 2004/109/EC) (DTR5.1) 2004/109/EC) (DTR5.1) (DTR5.2.1) (DTR5.2.1) Ordinary Shares 13,334,600 Nil 9.97% Nil GB00BY7R8K77 SUBTOTAL 8. A 13,334,600 9.97% B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a)) Number of voting rights that Type of financial instru- Expiration Exercise/ may be acquired if the in- % of voting rights ment datex Conversion Periodxi strument is exercised/converted. SUBTOTAL 8. B 1 B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b)) Exercise/ Type of financial Expiration Physical or cash Number of vot- Conversion Period % of voting rights instrument datex xi settlementxii ing rights 2 SUBTOTAL 8.B.2 9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”) Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity xiv (please X add additional rows as necessary) % of voting rights through fi- % of voting rights if it equals Total of both if it equals or is xv nancial instruments if it Name or is higher than the notifia- higher than the notifiable equals or is higher than the ble threshold threshold notifiable threshold Investec Wealth & Invest- 9.97% 9.97% ment Limited 10. In case of proxy voting, please identify: Name of the proxy holder N/A The number and % of voting rights held N/A The date until which the voting rights will be held N/A 11. Additional informationxvi Place of completion London, England Date of completion 10th November 2017 10 November 2017 JSE Sponsor PSG Capital 3 Date: 10/11/2017 05:05:00 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.