Acquisition

News Release

Schroders completes acquisition of STW Fixed Income Management LLC

2 April 2013

Further to the announcement on 17 December 2012, Schroders plc (Schroders) announces that its subsidiary, Schroder U.S. Holdings Inc, has today completed the acquisition of 100 per cent. of the share capital of STW Fixed Income Management LLC (STW), a value-orientated, US investment-grade fixed income manager. 

For further information, please contact:

Emma Holden Tel: +44 (0)20 7658 2329Head of Corporate Communications [email protected]

Schroders plc

Schroders is a global asset management company with £212.0 billion (€261.3 billion, $344.5 billion) under management as at 31 December 2012. Our clients are major financial institutions including pension funds, banks and insurance companies, local and public authorities, governments, charities, high net worth individuals and retail investors.

With one of the largest networks of offices of any dedicated asset management company, we operate from 34 offices in 27 countries across Europe, the Americas, Asia and the Middle East. Schroders has developed under stable ownership for over 200 years and long-term thinking governs our approach to investing, building client relationships and growing our business.

Further information about Schroders can be found at www.schroders.com.

STW

STW Fixed Income Management LLC is a specialty fixed income manager founded in 1985, that

provides custom solutions to meet the needs of a diverse client base. The firm manages portfolios across the duration spectrum for both taxable and tax-exempt investors. Assets under management are US$11.6 billion as of 31 December 2012. Further information on STW can be found at www.stw.com.