Transaction in Own Shares

11 February 2016

Smith & Nephew plc (the "Company")

Transaction in Own Shares

The Company today purchased 250,000 of its Ordinary Shares of US 20¢ each through Merrill Lynch International, in accordance with the authority granted by shareholders at the Company's Annual General Meeting on 9 April 2015. These shares were issued in connection with employee share schemes in Quarter 4 2015 and have been purchased as part of a programme to keep the total issued share capital broadly constant.

The average price paid was 1,060.1243p per share.

The highest price paid was 1,069p per share and the lowest price paid was 1,050p per share.

The Company intends to hold these shares in Treasury.

Following the purchase of these shares the Company holds 19,646,335 of its shares in Treasury. The Company's issued share capital, with one voting right per share consists of 895,926,928 Ordinary Shares of US20¢ each. This is the figure which should be used by shareholders as the denominator when determining whether they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

This announcement is made in accordance with the requirements of LR 12.4.6.

Vickie Reuben

Deputy Company Secretary

Smith & Nephew plc

Tel: 020 7401 7646