Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

Severfield plc

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

An acquisition or disposal of voting rights

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

X

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 thenotification obligation: iii

Prudential plc group of companies

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

Prudential plc

M&G Group Limited

M&G Limited

M&G Investment Management Limited

M&G Securities Limited

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

13 February 2017

6. Date on which issuer notified:

14 February 2017

7. Threshold(s) that is/are crossed orreached: vi, vii

See item 13

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

ORD GBP0.025

GB00B27YGJ97

41,855,730

41,855,730

41,706,530

0

41,706,530

0

13.95%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

ORD GBP0.025

GB00B27YGJ97

(Right of Recall)

420,700

0.14%

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

42,127,230

14.09%

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

Prudential plc (parent Company) - 42,127,230 (14.09%)

M&G Group Limited (wholly owned subsidiary of Prudential plc) - 42,127,230 (14.09%)

M&G Limited (wholly owned subsidiary of M&G Group Limited) - 42,127,230 (14.09%)

M&G Investment Management Limited (wholly owned subsidiary of M&G Limited) - 42,127,230 (14.09%)

M&G Securities Limited (wholly owned subsidiary of M&G Limited) - 38,045,902 (12.73%)

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will ceaseto hold:

N/A

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

N/A

13. Additional information:

Prudential plc has moved from 14% to a 13% indirect notifiable interest, excluding the right of recall under the Qualifying Financial Instruments.

14. Contact name:

John Baker / Owen Smith / James Todd

M&G Investment Management Limited

15. Contact telephone number:

020 7548 2561 / 020 7004 4517 / 020 7548 2293