Barclays Regulatory News (BARC)

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY

A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR

MORE

Rule 8.3 of the Takeover Code (the "Code")

1.

KEY INFORMATION

(a)

Full name of discloser:

Barclays PLC.

(b)

Owner or controller of interest and short

positions disclosed, if different from 1(a):

(c)

Name of offeror/offeree in relation to whose

DECHRA PHARMACEUTICALS PLC

relevant securities this form relates:

(d)

If an exempt fund manager connected with an

offeror/offeree, state this and specify identity of

offeror/offeree:

(e)

Date position held/dealing undertaken:

17 Apr 2023

(f)

In addition to the company in 1(c) above, is the discloser making

NO

disclosures in respect of any other party to the offer?

2.

POSITIONS OF THE PERSON MAKING THE DISCLOSURE

(a)

Interests and short positions in the relevant securities of the offeror or offeree

to which the disclosure relates following the dealing(if any)

Class of relevant security:

1p ordinary

Interests

Short Positions

Number

(%)

Number

(%)

(1)

Relevant securities owned

and/or controlled:

503,268

0.44%

1,179,152

1.04%

(2)

Cash-settled derivatives:

and/or controlled:

1,082,749

0.95%

421,966

0.37%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

1,586,017

1.39%

1,601,118

1.41%

(b)

Rights to subscribe for new securities (including directors and other executive

options)

Class of relevant security in relation to

which subscription right exists

Details, including nature of the rights

concerned and relevant percentages:

3.

DEALINGS (IF ANY) BY THE EXEMPT PRINCIPAL TRADER

(a)

Purchases and sales

Class of relevant

Purchase/sale

Number of

Price per unit

security

securities

1p ordinary

Purchase

6

37.2670 GBP

1p ordinary

Purchase

33

37.2857 GBP

1p ordinary

Purchase

197

37.3202 GBP

1p ordinary

Purchase

208

37.3153 GBP

1p ordinary

Purchase

245

37.2400 GBP

1p ordinary

Purchase

344

37.2200 GBP

1p ordinary

Purchase

708

37.2140 GBP

1p ordinary

Purchase

785

37.1996 GBP

1p ordinary

Purchase

2,141

37.0603 GBP

1p ordinary

Purchase

2,532

37.2066 GBP

1p ordinary

Purchase

3,318

37.1940 GBP

1p ordinary

Purchase

5,000

37.2000 GBP

1p ordinary

Purchase

11,327

37.3200 GBP

1p ordinary

Purchase

13,823

37.2262 GBP

1p ordinary

Purchase

21,141

37.2960 GBP

1p ordinary

Purchase

27,062

37.5262 GBP

1p ordinary

Purchase

50,007

37.3048 GBP

1p ordinary

Purchase

70,995

37.2103 GBP

1p ordinary

Sale

2

37.3400 GBP

1p ordinary

Sale

5

37.1960 GBP

1p ordinary

Sale

13

37.0700 GBP

1p ordinary

Sale

90

37.2400 GBP

1p ordinary

Sale

109

37.2600 GBP

1p ordinary

Sale

118

37.1900 GBP

1p ordinary

Sale

151

37.2923 GBP

1p ordinary

Sale

280

37.2014 GBP

1p ordinary

Sale

299

37.3078 GBP

1p ordinary

Sale

429

37.1200 GBP

1p ordinary

Sale

433

37.2257 GBP

1p ordinary

Sale

557

37.2054 GBP

1p ordinary

Sale

614

37.3198 GBP

1p ordinary

Sale

637

37.2881 GBP

1p ordinary

Sale

647

37.2306 GBP

1p ordinary

Sale

772

37.2100 GBP

1p ordinary

Sale

1,014

37.2787 GBP

1p ordinary

Sale

1,288

37.3237 GBP

1p ordinary

Sale

3,020

37.1437 GBP

1p ordinary

Sale

3,161

37.2063 GBP

1p ordinary

Sale

4,211

37.1957 GBP

1p ordinary

Sale

4,891

37.3200 GBP

1p ordinary

Sale

5,606

37.1919 GBP

1p ordinary

Sale

6,008

37.1736 GBP

1p ordinary

Sale

7,728

37.3218 GBP

1p ordinary

Sale

10,683

37.2075 GBP

1p ordinary

Sale

19,772

37.2977 GBP

1p ordinary

Sale

30,205

37.1958 GBP

1p ordinary

Sale

33,824

37.1718 GBP

1p ordinary

Sale

43,570

37.3376 GBP

1p ordinary

Sale

102,611

37.3300 GBP

1p ordinary

Sale

182,270

37.2500 GBP

(b)

Cash-settled derivative transactions

Class of

Product

Nature of dealing

Number of

Price per

relevant

description

reference

unit

security

securities

1p ordinary

SWAP

Long

6

37.0766 GBP

1p ordinary

SWAP

Long

574

37.2003 GBP

1p ordinary

SWAP

Long

994

37.0724 GBP

1p ordinary

SWAP

Long

1,000

37.0903 GBP

1p ordinary

SWAP

Long

1,608

37.2530 GBP

1p ordinary

CFD

Long

1,801

37.0728 GBP

1p ordinary

SWAP

Long

1,909

37.2379 GBP

1p ordinary

SWAP

Long

1,942

37.1998 GBP

1p ordinary

CFD

Long

2,280

37.2255 GBP

1p ordinary

SWAP

Long

3,020

37.1437 GBP

1p ordinary

SWAP

Long

3,214

37.2192 GBP

1p ordinary

SWAP

Long

3,433

37.3197 GBP

1p ordinary

SWAP

Long

4,211

37.1957 GBP

1p ordinary

SWAP

Long

6,236

37.3203 GBP

1p ordinary

SWAP

Long

7,133

37.2190 GBP

1p ordinary

SWAP

Long

22,305

37.1777 GBP

1p ordinary

SWAP

Long

27,127

37.2522 GBP

1p ordinary

SWAP

Long

30,391

37.1551 GBP

1p ordinary

CFD

Long

38,989

37.2663 GBP

1p ordinary

SWAP

Long

43,570

37.3376 GBP

1p ordinary

SWAP

Long

44,179

37.2581 GBP

1p ordinary

SWAP

Long

63,353

37.2311 GBP

1p ordinary

SWAP

Long

102,611

37.3300 GBP

1p ordinary

SWAP

Short

33

37.2857 GBP

1p ordinary

SWAP

Short

197

37.3202 GBP

1p ordinary

SWAP

Short

2,516

37.2126 GBP

1p ordinary

SWAP

Short

9,615

37.1239 GBP

1p ordinary

CFD

Short

21,141

37.2960 GBP

1p ordinary

SWAP

Short

27,062

37.5262 GBP

1p ordinary

SWAP

Short

44,526

37.1871 GBP

1p ordinary

SWAP

Short

50,007

37.3048 GBP

(c)

Stock-settled derivative transactions (including options)

(i)

Writing, selling, purchasing or varying

Class

Product

Writing,

Number

Exercise

Type

Expiry

Option

of

description

purchasing,

of

price

date

money

relevant

selling,

securities

per unit

paid/

security

varying etc

to which

received

option

per unit

relates

(ii)

Exercising

Class of relevant

Product description

Exercising/ exercised against

Number of

Exercise price per

security

securities

unit

(d)

Other dealings (including subscribing for new securities)

Class of relevant

Nature of Dealings

Details

Price per unit (if

security

applicable)

4.

OTHER INFORMATION

(a)

Indemnity and other dealings arrangements

Details of any indemnity or option arrangement, or any agreement or understanding,

formal or informal, relating to relevant securities which may be an inducement to deal

or refrain from dealing entered into by the exempt principal trader making the disclosure and any party

to the offer or any person acting in concert with a party to the offer:

NONE

(b)

Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between

the person making the disclosure and any other person relating to:

(i) the voting rights of any relevant securities under any option; or

(ii) the voting rights of future acquisition or disposal of any relevant securities to which

any derivative is referenced:

NONE

(c)

Attachments

Is a Supplemental Form 8 (Open Positions) attached?

NO

Date of disclosure:

18 Apr 2023

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213