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:

16 Nov 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:

7,473,997

6.56%

1,602,740

1.41%

(2)

Cash-settled derivatives:

and/or controlled:

938,559

0.82%

7,403,402

6.50%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

8,412,556

7.39%

9,006,142

7.91%

(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

108,792

37.8400 GBP

1p ordinary

Purchase

23,017

37.8002 GBP

1p ordinary

Purchase

17,608

37.8000 GBP

1p ordinary

Purchase

8,005

37.8256 GBP

1p ordinary

Purchase

7,298

37.7790 GBP

1p ordinary

Purchase

5,000

37.8260 GBP

1p ordinary

Purchase

4,261

37.8013 GBP

1p ordinary

Purchase

1,604

37.8026 GBP

1p ordinary

Purchase

631

37.8077 GBP

1p ordinary

Purchase

448

37.7800 GBP

1p ordinary

Purchase

400

37.8152 GBP

1p ordinary

Purchase

400

37.7600 GBP

1p ordinary

Purchase

358

37.8102 GBP

1p ordinary

Purchase

244

37.8201 GBP

1p ordinary

Purchase

138

37.8200 GBP

1p ordinary

Purchase

109

37.8600 GBP

1p ordinary

Sale

45,779

37.7967 GBP

1p ordinary

Sale

7,756

37.8000 GBP

1p ordinary

Sale

7,423

37.7724 GBP

1p ordinary

Sale

5,825

37.8394 GBP

1p ordinary

Sale

4,758

37.8042 GBP

1p ordinary

Sale

817

37.7600 GBP

1p ordinary

Sale

790

37.8200 GBP

1p ordinary

Sale

199

37.8004 GBP

1p ordinary

Sale

38

37.8600 GBP

1p ordinary

Sale

9

37.7962 GBP

1p ordinary

Sale

3

37.8400 GBP

1p ordinary

Sale

3

37.7800 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

2

37.7950 GBP

1p ordinary

SWAP

Long

9

37.7962 GBP

1p ordinary

SWAP

Long

15

37.7800 GBP

1p ordinary

SWAP

Long

17

37.7741 GBP

1p ordinary

CFD

Long

395

37.7600 GBP

1p ordinary

SWAP

Long

5,548

37.8065 GBP

1p ordinary

SWAP

Long

5,825

37.8394 GBP

1p ordinary

SWAP

Long

7,139

37.8000 GBP

1p ordinary

CFD

Long

7,423

37.7724 GBP

1p ordinary

SWAP

Short

109

37.8600 GBP

1p ordinary

SWAP

Short

967

37.7937 GBP

1p ordinary

SWAP

Short

1,146

37.8133 GBP

1p ordinary

SWAP

Short

1,296

37.8181 GBP

1p ordinary

SWAP

Short

3,183

37.8004 GBP

1p ordinary

SWAP

Short

3,998

37.8451 GBP

1p ordinary

SWAP

Short

4,261

37.8013 GBP

1p ordinary

SWAP

Short

5,000

37.8260 GBP

1p ordinary

SWAP

Short

108,789

37.8400 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:

17 Nov 2023

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213