Director/PDMR Shareholding

1. Name of the issuer

Schroders plc

2. State the reason for responsibility to notify

DTR 3.1.4 R

3. Name of person discharging managerial responsibilities/director to whom this disclosure relates

Philip Mallinckrodt

4. State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person

The notification is in respect of 3 above

5. Description of shares (including class), debentures or derivatives or financial instruments relating to shares

Non-voting ordinary shares

6. State the nature of the transaction

Deemed exercise of March 2003 award under the Equity Compensation Plan. All shares were automatically sold in accordance with the Scheme rules.

7. State the volume of the transaction

24,147 Non-voting ordinary shares

8. Price per share

£16.88 per Non-voting ordinary share

9. Date and place of transaction

27 March 2013, London

10. Date issuer informed of transaction

27 March 2013, London