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.)

Schroder Investment Management Limited

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

20 January 2016

6. Date on which issuer notified:

22 January 2016

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

From 13% to 14%

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

11.5517p Shares

GB00B1VNSX38

56,300,364

56,300,364

57,318,965

n/a

57,318,965

n/a

14.107%

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

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

57,318,965

14.107%

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

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:

This notification is being made on the based on the legal entity position crossing above 13%. Schroders Plc's position remains as per the previous disclosure. 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 by Schroder based on the issued share capital amount 406,317,162.

14. Contact name:

Phil White

Deputy Company Secretary

15. Contact telephone number:

01757 612167