Holding(s) in Company

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Drax Group plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

Yes

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to the notification obligation:

Schroders plc

4. Full name of shareholder(s) (if different from 3.)

5. Date of the transaction and date on which the threshold is crossed or reached:

21.07.15

6. Date on which issuer notified:

22.07.15

7. Threshold(s) that is/are crossed or reached:

From 12% - 13%

8. Notified details:

A: Voting rights attached to shares

Class/type ofshares

if possible usingthe ISIN CODE

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Number ofShares

Number of Voting Rights

Numberof shares

Number of votingrights

% of voting rights

Direct

Direct

Indirect

Direct

Indirect

Ordinary

11.55172p Shares

GB00B1VNSX38

50,691,641

50,654,298

53,018,745

n/a

52,981,402

n/a

13.040%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate

Exercise/Conversion Period

Number of voting rights that may be acquired if the instrument is exercised / converted.

% of votingrights

Call option 4.64423

29/07/2015

N/A

(507,760)

-0.125%

Call option 4.7819057

11/08/2015

N/A

(658,969)

-0.162%

Call option 4.55975

26/08/2015

N/A

(372,116)

-0.092%

Call option 4.2551982

09/09/2015

N/A

(323,730)

-0.080%

Call option 3.9792625

30/09/2015

N/A

(390,528)

-0.096%

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date

Exercise/Conversion period

Number of voting rights instrument refers to

% of voting rights

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

52,981,402

13.040%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable:

Schroder Investment Management Limited - 52,422,021 12.903%

Schroder & Co. Limited - 554,118 0.136%

Schroders (C.I.) Limited - 5,263 0.001%

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

The shares referred to in section 9 are held in portfolios managed by those firms on a discretionary basis for clients under investment management agreements. This disclosure has been calculated based on issue share capital amount 406,247,913.

14. Contact name:

Laura Dobson

Assistant Company Secretary

15. Contact telephone number:

01757 612778