Holding(s) in Company

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

Smith & Nephew plc

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

An acquisition or disposal of voting rights

x

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

¨

An event changing the breakdown of voting rights

¨

Other (please specify):

¨

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

Thornburg Investment Management Inc.

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

N/A

5. Date of the transaction (and date on which the threshold is crossed or reached if different)

12 January 2011

6. Date on which issuer notified:

22 February 2011

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

3%

8. Notified details:

A: Voting rights attached to shares

Class/type of shares

 if possible using the ISIN CODE

Situation previous to the Triggering transaction

Resulting situation after the triggering transaction

Number of Shares

Number of Voting Rights

Number of shares

Number of voting rights

% of voting rights

Direct

Direct

Indirect

Direct

Indirect

ORD0922320 (SEDOL)

ADR83175M205 (CUSIP)

Above 3%

Above 3%

Above 3%

Above 3%

N/A

N/A

14,783,322

764,329

N/A

1.66%

0.43%

B: Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ Conversion Period/ Date

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

% of voting rights

N/A

Total (A+B)

Number of voting rights

% of voting rights

18,604,969

2.09%

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

Thornburg Investment Management holds these shares as dicretionary Investment Manager.

Proxy Voting:

10. Name of the proxy holder:

N/A

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

N/A

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

N/A

13. Additional information:

14. Contact name:

Ronald Olexsak

15. Contact telephone number:

505.467.7447 (USA)

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

Smith & Nephew plc

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

An acquisition or disposal of voting rights

x

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

¨

An event changing the breakdown of voting rights

¨

Other (please specify):

¨

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

Thornburg Investment Management Inc.

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

N/A

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

11 January 2011

6. Date on which issuer notified:

22 February 2011

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

4%

8. Notified details:

A: Voting rights attached to shares

Class/type of shares

 if possible using the ISIN CODE

Situation previous to the Triggering transaction

Resulting situation after the triggering transaction

Number of Shares

Number of Voting Rights

Number of shares

Number of voting rights

% of voting rights

Direct

Direct

Indirect

Direct

Indirect

ORD0922320 (SEDOL)

ADR83175M205 (CUSIP)

Above 4%

Above 4%

Above 4%

Above 4%

N/A

N/A

27,913,322

1,110,447

N/A

3.14%%

0.62%

B: Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ Conversion Period/ Date

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

% of voting rights

N/A

Total (A+B)

Number of voting rights

% of voting rights

33,465,559

3.76%

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

Thornburg Investment Management holds these shares as dicretionary Investment Manager.

Proxy Voting:

10. Name of the proxy holder:

N/A

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

N/A

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

N/A

13. Additional information:

14. Contact name:

Ronald Olexsak

15. Contact telephone number:

505.467.7447 (USA)