Transaction in Own Shares

24 February 2020

Transaction in Own Shares

Smith & Nephew plc (the "Company") announces today it has purchased the following number 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 11 April 2019. These shares were issued in connection with employee share schemes in Quarter 4 2019 and have been purchased as part of a programme to reduce the Company's share capital, in order to keep it broadly constant, as announced on 21 February 2020. Details of the relevant purchase transactions are set out below:

The Company intends to hold these shares in Treasury and then cancel them.

Since 24 February 2020, the Company has purchased 432,000 shares at a cost (including dealing and associated costs) of £8,213,833.62.

Following the purchase of these shares, the Company holds 10,495,555 of its shares in Treasury. The Company's issued share capital, with one voting right per share consists of 874,816,614 ordinary shares of US20¢ each (excluding treasury shares). 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 Guidance and Transparency Rules.

These purchases were made by Merrill Lynch International on behalf of the Company and a full breakdown of the individual trades is attached to this announcement.

http://www.rns-pdf.londonstockexchange.com/rns/9675D_1-2020-2-24.pdf

This announcement is made in accordance with the requirements of LR 12.4.6 and Market Abuse Regulation 596/2014.

Vickie Reuben

Deputy Company Secretary

Smith & Nephew plc

Tel: 01923 477410