TR-1: Standard Form For 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 20 May 2019 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 Schroder European Real Estate Investment Trust plc of existing shares to which voting rights are at- tachedii: 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: Type 1 & Type 3 Disclosure as per the Transparency Directive II Regulation X 3. Details of person subject to the notification obligationiv Name Schroders plc City and country of registered office (if applicable) London, UK 4. Full name of shareholder(s) (if different from 3.)v Name City and country of registered office (if applicable) 5. Date on which the threshold was crossed or 16.05.2019 reachedvi: 6. Date on which issuer notified (DD/MM/YYYY): 20.05.2019 7. Total positions of person(s) subject to the notification obligation % of voting rights % of voting rights at- Total number of through financial instru- Total of both in % tached to shares (to- voting rights of is- ments (8.A + 8.B) tal of 8. A) suervii (total of 8.B 1 + 8.B 2) 1 Resulting situation on the date on which threshold was 12.42% N/A 12.42% 133,734,686 crossed or reached Position of previous notification (if 18.029% N/A 18.029% 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) (DTR5.1) 2004/109/EC) 2004/109/EC) (DTR5.1) 2004/109/EC) (DTR5.2.1) (DTR5.2.1) GB00BY7R8K77 16,609,971 12.42% SUBTOTAL 8. A 16,609,971 12.42% B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a)) Number of voting rights Type of financial in- Expiration Exercise/ that may be acquired if % of voting rights strument datex Conversion Periodxi the instrument 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/ Physical or Type of financial Expiration Number of Conversion Pe- cash % of voting rights instrument datex voting rights riod xi settlementxii 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 entityxiv X (please add additional rows as necessary) % of voting % of voting rights rights if it Total of both if it through financial in- equals or is equals or is higher Namexv struments if it equals higher than the than the notifiable or is higher than the notifiable threshold notifiable threshold threshold Schroders plc Schroder Administration Limited Schroder International Holdings Limited Schroder Investment Management Limited Schroders plc Schroder Administration Limited Schroder Financial Holdings Limited Schroder Investment Company Limited 8.038% N/A 8.038% 10. In case of proxy voting, please identify: Name of the proxy holder The number and % of voting rights held The date until which the voting rights will be held 3 11. Additional informationxvi Ria Vavakis – 020 7658 2371 Place of completion London Date of completion 20.05.2019 JSE Sponsor PSG Capital 4 Date: 20/05/2019 02:30:00 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.