Old Mutual PLC Regulatory News (OML)

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

Drax Group plc

1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate)

Non-UK issuer

2. Reason for the notification (please mark with an "X" if appropriate)

An acquisition or disposal of voting rights

X

An acquisition or disposal of financial instruments

X

An event changing the breakdown of voting rights

Other (please specify)iii

3. Details of person subject to the notification obligation iv

Name

Old Mutual Plc

City and country of registered office (if applicable)

London, UK

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

Name

City and country of registered office

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

15 August 2017

6. Date on which issuer notified:

18 August 2017

7. Total positions of person(s) subject to the notification obligation

5%

% of voting rights attached to shares (total of 8. A)

% of voting rights through financial instruments

 (total of 8.B 1+8.B 2)

Total of both in % (8.A + 8.B)

Total number pf voting rights of issuervii

Resulting situation on the date on which threshold was crossed or reached

4.97%

0.07%

5.04%

406,858,215

Position of previous notification (if applicable)

8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii:

A: Voting rights attached to shares

Class/type ofshares

if possible usingthe ISIN CODE

Number of voting rightsix

% of voting rights

Direct

(Art 9 of Directive 2004/109/EC) (DTR5.1)

Indirect

(Art 10 of Directive 2004/109/EC) (DTR5.2.1)

Direct

(Art 9 of Directive 2004/109/EC) (DTR5.1)

Indirect

(Art 10 of Directive 2004/109/EC) (DTR5.2.1)

GB00B1VNSX38

20,207,195

4.97%

SUBTOTAL 8.A

20,207,195

4.97%

B1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))

Type of financialinstrument

Expirationdate x

Exercise/Conversion Period xi

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

% of votingrights

SUBTOTAL 8. B1

B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))

Type of financialinstrument

Expiration datex

Exercise/Conversion period xI

Physical or cash settlementxii

Number of voting rights

% of voting rights

CFD

Cash

301,745

0.07%

SUBTOTAL 8.B.2

301,745

0.07%

9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X")

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the underlying issuerxiii

Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv  (please add additional rows as necessary)

x

Namexv

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

Old Mutual Plc

4.97%

0.07%

5.04%

Old Mutual Global Investors

Old Mutual Plc

4.97%

0.07%

5.04%

Acadian Asset Management LLC

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:

14. Contact name:

Laura Dobson

Deputy Company Secretary

15. Contact telephone number:

01757 612778