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

Exercise of March 2003 share option award. All shares were retained and no shares were sold.

7. State the volume of the transaction

30,000 Non-voting ordinary shares

8. Price per share

£3.98 per Non-voting ordinary share

9. Date and place of transaction

4 January 2013, London

10. Date issuer informed of transaction

4 January 2013, London