Abrdn PLC

Share Issue/Capital Change • Dec 3, 2020

National Storage Mechanism | Additional information

RNS Number : 4129H

Standard Life Aberdeen plc

03 December 2020

Standard Life Aberdeen plc ("the Company")

Sale of shares in HDFC Life Insurance Company Limited ("HDFC Life") by Standard Life (Mauritius Holdings) 2006 Limited ("SLMH06")

The Company announces that on Thursday 3 December 2020, SLMH06, a wholly owned subsidiary of the Company, sold 27,772,6841 shares in HDFC Life (the "Shares") on the National Stock Exchange of India Limited and the Bombay Stock Exchange Limited.

The Shares were sold at an average price of Rs 619.141 which will result in SLMH06 receiving approximately Rs 17,032m (£172m2), net of taxes and expenses, from the sale.  The Company intends to use the proceeds for general corporate purposes.

The Shares sold constituted 1.37% of the paid-up, issued equity share capital of HDFC Life and SLMH06's remaining shareholding in HDFC Life is now 8.89%, based on the paid-up, issued equity share capital.  Based on the current share price of Rs 647.353, the value of this remaining shareholding would be approximately Rs 116bn (£1.2bn2).

It is also noted that SLMH06's remaining 8.89% shareholding in HDFC Life is locked in until end March 2021 and a shareholding below 10% will no longer provide SLMH06 with the right to nominate a Director to the board of HDFC Life.

3 December 2020

1 Based on current trade data available, final contract amounts and price will be confirmed by the stock exchanges after market close on 3 December 2020

2 Based on INR|GBP exchange rate of 98.845

3 Based on HDFC Life share price on the National Stock Exchange of India at 10.00am IST on Thursday, 3 December 2020

Enquiries:

Institutional Equity Investors Catherine Nash	+44 (0) 7798 518 657
Media Katy Hetherington	+44 (0) 7841 344 374
Group Secretariat Paul McKenna	+44 (0)131 372 0703*

* Calls may be monitored and/or recorded to protect both you and us and help with our training. Call charges will vary.

LEI: OTMBS544NMO7GLCE7H90

END

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DISUPGUGPUPUUQW