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 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 of existing shares to which voting rights are Plc 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 obligationiv Name Close Asset Management Limited 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 07/09/2018 reachedvi: 6. Date on which issuer notified (DD/MM/YYYY): 10/09/2019 7. Total positions of person(s) subject to the notification obligation % of voting rights % of voting rights Total number of through financial Total of both in % attached to shares voting rights of instruments (8.A + 8.B) (total of 8. A) issuervii (total of 8.B 1 + 8.B 2) Resulting situation on the date on which threshold was 5.07% 5.07% 133,734,686 crossed or reached Position of previous notification (if N/A N/A 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 6,775,921 5.07% SUBTOTAL 8. A 6,775,921 5.07% 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 Expiration Exercise/ that may be acquired if % of voting rights instrument 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 cash % of voting rights instrument datex voting rights Period xi settlementxii 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 add additional rows as necessary) % of voting rights % of voting rights if it Total of both if it through financial equals or is higher equals or is higher Namexv instruments if it equals than the notifiable than the notifiable or is higher than the threshold threshold notifiable threshold Close Brothers Asset 5.07% 5.07% Management 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 11. Additional informationxvi On the 7th September 2018, Close Brothers Asset Management bought 100,000 shares in SCHRODER EUROPEAN REIT PLC at a price of £1.1375.This brought our shareholding to 6,775,921 and 5.07% of the shares in issue. This is based on the shares in issue figure of 133,734,686 as at 10th September 2018. This is the required notification that the holding has moved above 5% of the shares in issue. Ria Vavakis – 0207 658 2371 Place of completion London, England Date of completion 10/09/2018 11 September 2018 JSE Sponsor: PSG Capital Date: 11/09/2018 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 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