Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

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

X

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:

Orbis Holdings Limited

(parent)

Orbis Asset Management Limited

(investment manager and controlled undertaking)

Orbis Investment Management Limited

(investment manager and controlled undertaking)

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

Vidacos Nominees Limited

HSBC Custody Nominees (Australia) Ltd

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

19 January 2012

6. Date on which issuer notified:

23 January 2012

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

Below 5%

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

Numberof Shares

Number of Voting Rights

Numberof shares

Number of voting rights

% of voting rights

Direct

Indirect

Direct

Indirect

GBP 0.1155172

GB00B1VNSX38

21,552,967

21,552,967

15,532,574

4.26%

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 voting rights

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

15,532,574

4.26%

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

Orbis Asset Management Limited is a controlled undertaking of Orbis Holdings Limited.

Orbis Investment Management Limited is a controlled undertaking of Orbis Holdings Limited.

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:

Phil White, Deputy Company Secretary

15. Contact telephone number:

01757 612167