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:

14 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:

7,481,960

6.57%

1,708,544

1.50%

(2)

Cash-settled derivatives:

and/or controlled:

1,044,260

0.92%

7,411,673

6.51%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

8,526,220

7.49%

9,120,217

8.01%

(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

108,961

37.7800 GBP

1p ordinary

Purchase

28,390

37.8631 GBP

1p ordinary

Purchase

12,954

37.8400 GBP

1p ordinary

Purchase

3,818

37.8469 GBP

1p ordinary

Purchase

3,057

37.8600 GBP

1p ordinary

Purchase

2,816

37.8390 GBP

1p ordinary

Purchase

815

37.8200 GBP

1p ordinary

Purchase

643

37.8278 GBP

1p ordinary

Purchase

544

37.8466 GBP

1p ordinary

Purchase

519

37.8507 GBP

1p ordinary

Purchase

456

37.8324 GBP

1p ordinary

Purchase

300

37.8655 GBP

1p ordinary

Purchase

280

37.8290 GBP

1p ordinary

Purchase

279

37.8481 GBP

1p ordinary

Purchase

211

37.8342 GBP

1p ordinary

Purchase

154

37.9000 GBP

1p ordinary

Purchase

146

37.8209 GBP

1p ordinary

Purchase

87

37.8227 GBP

1p ordinary

Purchase

36

37.8288 GBP

1p ordinary

Sale

10,488

37.8529 GBP

1p ordinary

Sale

1,205

37.8378 GBP

1p ordinary

Sale

904

37.8400 GBP

1p ordinary

Sale

604

37.7800 GBP

1p ordinary

Sale

525

37.8600 GBP

1p ordinary

Sale

446

37.8426 GBP

1p ordinary

Sale

197

37.8563 GBP

1p ordinary

Sale

158

37.8200 GBP

1p ordinary

Sale

108

37.8362 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

108

37.8362 GBP

1p ordinary

SWAP

Long

197

37.8563 GBP

1p ordinary

SWAP

Long

427

37.8394 GBP

1p ordinary

SWAP

Long

458

37.7800 GBP

1p ordinary

SWAP

Long

3,545

37.8550 GBP

1p ordinary

SWAP

Long

7,089

37.8504 GBP

1p ordinary

CFD

Short

530

37.8656 GBP

1p ordinary

SWAP

Short

544

37.8466 GBP

1p ordinary

CFD

Short

868

37.9051 GBP

1p ordinary

SWAP

Short

2,985

37.8390 GBP

1p ordinary

SWAP

Short

3,570

37.8368 GBP

1p ordinary

SWAP

Short

3,818

37.8469 GBP

1p ordinary

SWAP

Short

9,042

37.8400 GBP

1p ordinary

SWAP

Short

13,712

37.8699 GBP

1p ordinary

SWAP

Short

14,224

37.8535 GBP

1p ordinary

SWAP

Short

108,961

37.7800 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:

15 Nov 2023

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213