Smith & Nephew Regulatory News (SN.)

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

Smith & Nephew 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 the appropriate box or boxes with an "X")

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):

3. Details of person subject to the notification obligation

Name

WCM Investment Management, LLC

City and country of registered office (if applicable)

Wilmington, United States

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

Name

Discretionary Clients

City and country of registered office (if applicable)

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

March 16, 2021

6. Date on which issuer notified:

March 17, 2021

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

% 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 of voting rights held in issuer

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

4.83%

0

4.83%

884,921,853

Position of previous notification (if applicable)

5.12%

0

5.12%

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

A: Voting rights attached to shares

Class/type of shares

ISIN code (if possible)

Number of voting rights

% of voting rights

Direct

(DTR5.1)

Indirect

(DTR5.2.1)

Direct

(DTR5.1)

Indirect

(DTR5.2.1)

Ordinary Shares

(ISIN: GB0009223206)

27,168,133

3.07%

ADRs

(ISIN: US83175M2052)

15,620,700

1.76%

SUBTOTAL 8.A

42,788,833

4.83%

B.1: Financial Instruments according to DTR5.3.1R (1) (a)

Type of financial instrument

Expiration date

Exercise/ Conversion Period

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

% of voting rights

SUBTOTAL 8.B.1

B.2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)

Type of financial instrument

Expiration date

Exercise/ Conversion Period

Physical or cash settlement

Number of voting rights

% of voting rights

SUBTOTAL 8.B.2

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) issuer

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 entity (please add additional rows as necessary)

X

Name

% 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

WCM Investment Management, LLC

10. In case of proxy voting, please identify:

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

Place of completion

Laguna Beach, California, USA

Date of completion

March 17, 2021