Holding(s) in Company

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

Rexam 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

Morgan Stanley

(Institutional Securities Group and Global Wealth Management)

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

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

26.02.2016

6. Date on which issuer notified:

01.03.2016

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

7%*

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

GB00BMHTPY25

275

275

275

275

0.00%

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

Right of Recall over a securities lending agreement

N/A

N/A

49,506,425

7.02%

Depositary Receipt

N/A

N/A

23,530

0.00%

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

Call Option (Cash-settled)

625.21

21-03-2016

N/A

8,887

N/A

0.00%

Number of voting rights

Percentage of voting rights

49,539,117

7.02%

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

Morgan Stanley & Co. International plc, 25 Cabot Square, Canary Wharf, London E14 4QA is a direct holder of  49,515,312 voting rights (7.02%) and is a subsidiary of Morgan Stanley Investments (UK)

Morgan Stanley Investments (UK), 20 Bank Street, Canary Wharf, London E14 4AD is an indirect holder of 49,515,312 voting rights (7.02%) and is a subsidiary of Morgan Stanley UK Group

Morgan Stanley UK Group, 25 Cabot Square, Canary Wharf, London E14 4QA is an indirect holder of

49,515,312 voting rights (7.02%) and is a subsidiary of Morgan Stanley International Limited.

Morgan Stanley International Limited, 25 Cabot Square, Canary Wharf, London E14 4QA is an indirect holder of 49,515,312 voting rights (7.02%) and is a subsidiary of Morgan Stanley International Holdings Inc.

Morgan Stanley International Holdings Inc., c/o The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, Delaware DE 19801, USA is an indirect holder of

49,515,312 voting rights (7.02%) and is a subsidiary of Morgan Stanley.

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:

Morgan Stanley's total holding in Rexam Plc remains above the 7% threshold previously disclosed however, this notification is being made on the basis that Morgan Stanley & Co. International plc, a wholly owned subsidiary of Morgan Stanley, has crossed a relevant threshold in its own right

14. Contact name:

Craig Horsley

15. Contact telephone number:

0141 245 7736