Smurfit Kappa Regulatory News (SKG)

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the Central Bank of Ireland)i

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

Smurfit Kappa Group plc

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

[ü] An acquisition or disposal of voting rights

[ ] An acquisition or disposal of financial instruments

[ ] An event changing the breakdown of voting rights

[ü ] Other (please specify)iii: Voluntary Group Disclosure

3. Details of person subject to the notification obligationiv :

Name:

Schroders plc

City and country of registered office (if applicable):

London, United Kingdom

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

Schroder Investment Management Limited

5. Date on which the threshold was crossed or reachedvi:

28.06.2017

6. Date on which issuer notified:

29.06.2017

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

Below 3%

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

% of voting rights attached to shares (total of 9.A)

% of voting rights through financial instruments(total of 9.B.1 + 9.B.2)

Total of both in % (9.A + 9.B)

Total number of voting rights of issuervii

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

2.943%

0.00%

2.943%

236,819,695

Position of previous notification (if applicable)

3.136%

0.00%

3.136%

9. 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

ISIN code (if possible)

Number of voting rightsix

% of voting rights

Direct

Indirect

Direct

Indirect

IE00B1RR8406

6,970,120

2.943%

SUBTOTAL A

6,970,120

2.943%

B 1: Financial Instruments according to Regulation 17(1)(a) of the Regulations

Type of financial instrument

Expirationdatex

Exercise/Conversion Periodxi

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

% of voting rights

SUBTOTAL B.1

B 2: Financial Instruments with similar economic effect according to Regulation 17(1)(b) of the Regulations

Type of financial instrument

Expirationdatex

Exercise/Conversion Period xi

Physical or cash settlementxii

Number of voting rights

% of voting rights

N/A

N/A

N/A

N/A

N/A

N/A

SUBTOTAL B.2

N/A

N/A

10. Information in relation to the person subject to the notification obligation (please tick the applicable box):

[ ] 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) issuer.xiii

[ü] Full chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv:

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

Schroders plc

Schroder Administration Limited

Schroder Wealth Holdings Limited

Schroder & Co. Limited

Schroders plc

Schroder Administration Limited

Schroder Investment Management Limited

Schroder Investment Management North America Limited

Schroders plc

Schroder Administration Limited

Schroder International Holdings Limited

Schroder Holdings (Bermuda) Limited

Schroder International Holdings (Bermuda) Limited

Schroder Investment Management (Hong Kong) Limited

Schroders plc

Schroder Administration Limited

Schroder International Holdings Limited

Schroder US Holdings Inc.

Schroder Investment Management North America Inc.

Schroders plc

Schroder Administration Limited

Schroder International Holdings Limited

Schroder Unit Trusts Limited

Schroders plc

Schroder Administration Limited

Schroder Investment Management Limited

Schroders Korea Limited

Schroders plc

Schroder Administration Limited

Schroder International Holdings Limited

Schroder Investment Management (Japan) Limited

Schroders plc

Schroder Administration Limited

Schroder International Holdings Limited

Schroder International Finance B.V.

Schroder Investment Management (Luxembourg) S.A.

11. In case of proxy voting: [name of the proxy holder] will cease to hold [% and number] voting rights as of [date]

12. Additional informationxvi:

Annex: Notification of major holdings (only to be filed with the Central Bank of Ireland and not with the relevant issuer)

A: Identity of the person subject to the notification obligation

Full name (including legal form for legal entities)

Schroders plc

Contact address (registered office for legal entities)

31 Gresham Street, London, EC2V 7QA

E-Mail

groupdisclosure@schroders.com

Phone number / Fax number

+44 207 658 6000

Other useful information (at least legal a contact person for legal persons)

B: Identity of the notifier, if applicable

Full name

Shaheen Hussain

Contact address

31 Gresham Street, London, EC2V 7QA

E-Mail

groupdisclosure@schroders.com

Phone number / Fax number

+44 207 658 7941

Other useful information (e.g. functional relationship with the person or legal entity subject to the notification obligation)

C: Additional information: