Director/PDMR Shareholding

Notification of transactions of directors, persons discharging managerial responsibilities or connected persons in accordance with DTR 3.1

The independent trustee of the SABMiller plc Employees' Benefit Trust (the EBT) notified SABMiller plc (the Company) on 20 June 2014 that it had on 20 June 2014 exercised its discretion and released ordinary shares in the Company to a director and a person discharging managerial responsibility (PDMRs), as summarised in the table below.

These shares relate to conditional awards of performance shares made in 2011 under the SABMiller plc Executive Share Award Plan 2008. These awards are only capable of vesting if the Company's Total Shareholder Return (TSR) exceeds the median TSR of a comparator group over a five year performance period. No shares vest for median performance but for every £10 million of additional shareholder value created in excess of the median (being the % outperformance of the median multiplied by SABMiller's market capitalisation at the start of the performance period) a fixed number of shares will vest. These awards are subject to testing against the performance condition on the fifth anniversary of the date of grant, but participants may request the Remuneration Committee (the Committee) at its discretion to recommend to the trustee of the EBT the early release of some or all of the shares comprised in their award after three years. The PDMRs named below requested the Committee in June 2014 to consider the release of the number of shares shown in the table below, and the Committee after due consideration agreed so to recommend to the trustee of the EBT.

In accordance with the terms of the awards, the number of shares to be released was calculated by reference to the Company's TSR performance against its comparator group for the period from 1 April 2011 to 31 May 2014. For this period, SABMiller's TSR was 52.681%, compared with 36.676% for the median of the comparator group. This represents an out-performance of the median by 16.005%, meaning that an additional £5,359 million of shareholder value in excess of the median was created over this period.

One third of the shares were released to the PDMRs on 20 June 2014, with sales of shares to meet tax and other withholding obligations being effected on the same day as shown in the table below. The release of two-thirds of the shares has been deferred and they will be released in two further equal tranches over the remainder of the five year performance period. There is no opportunity for these deferred shares to be retested against any future TSR out-performance, and the deferred shares remain subject to forfeiture under certain circumstances should the PDMR's employment terminate before the fifth anniversary of the award.

* Director

Price per share for shares sold on 20 June 2014: £34.02579

Date of transactions: 20 June 2014

Place of transactions: London, England

John Davidson

General Counsel and Group Company Secretary

SABMiller plc