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:

05 Jul 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:

1,796,981

1.58%

1,455,256

1.28%

(2)

Cash-settled derivatives:

and/or controlled:

1,362,495

1.20%

1,665,306

1.46%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

3,159,476

2.77%

3,120,562

2.74%

(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

Sale

1,084

36.8809 GBP

1p ordinary

Purchase

5

36.8880 GBP

1p ordinary

Sale

2

36.9200 GBP

1p ordinary

Purchase

11,196

36.8357 GBP

1p ordinary

Purchase

2,434

36.8869 GBP

1p ordinary

Purchase

25,000

36.8776 GBP

1p ordinary

Sale

12,574

36.8044 GBP

1p ordinary

Sale

1,805

36.8824 GBP

1p ordinary

Sale

1,236

36.8878 GBP

1p ordinary

Sale

21,383

36.8671 GBP

1p ordinary

Purchase

6,789

36.7981 GBP

1p ordinary

Purchase

2

36.9000 GBP

1p ordinary

Purchase

319

36.8642 GBP

1p ordinary

Purchase

1,805

36.8787 GBP

1p ordinary

Sale

716

36.8705 GBP

1p ordinary

Purchase

3,775

36.8876 GBP

1p ordinary

Sale

1,077

36.8666 GBP

1p ordinary

Sale

1

36.9000 GBP

1p ordinary

Purchase

4,825

36.9025 GBP

1p ordinary

Purchase

1,717

36.9007 GBP

1p ordinary

Sale

20,084

36.8000 GBP

1p ordinary

Purchase

2

36.9200 GBP

1p ordinary

Sale

6,699

36.8073 GBP

1p ordinary

Sale

1,610

36.8928 GBP

1p ordinary

Sale

17,364

36.8798 GBP

1p ordinary

Sale

102

36.8600 GBP

1p ordinary

Purchase

20,483

36.8489 GBP

1p ordinary

Sale

102

36.8400 GBP

1p ordinary

Sale

1,025

36.8742 GBP

1p ordinary

Purchase

50,000

36.8676 GBP

1p ordinary

Sale

224

36.8900 GBP

1p ordinary

Purchase

224

36.8863 GBP

1p ordinary

Sale

319

36.8679 GBP

1p ordinary

Purchase

11,833

36.8000 GBP

1p ordinary

Sale

750

36.8800 GBP

1p ordinary

Sale

617

36.7972 GBP

1p ordinary

Sale

1,683

36.8665 GBP

1p ordinary

Purchase

2

36.8600 GBP

1p ordinary

Purchase

800

36.8986 GBP

1p ordinary

Sale

4,938

36.8731 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

617

36.7972 GBP

1p ordinary

SWAP

Long

806

36.8868 GBP

1p ordinary

SWAP

Long

1,333

36.8000 GBP

1p ordinary

CFD

Long

2,821

36.8795 GBP

1p ordinary

SWAP

Long

3,784

36.8695 GBP

1p ordinary

SWAP

Long

6,377

36.8702 GBP

1p ordinary

SWAP

Long

10,769

36.8836 GBP

1p ordinary

CFD

Long

16,161

36.8000 GBP

1p ordinary

SWAP

Long

21,383

36.8671 GBP

1p ordinary

SWAP

Short

5

36.8440 GBP

1p ordinary

SWAP

Short

6

36.8366 GBP

1p ordinary

SWAP

Short

33

36.8665 GBP

1p ordinary

SWAP

Short

56

36.8795 GBP

1p ordinary

SWAP

Short

367

36.8723 GBP

1p ordinary

SWAP

Short

2,125

36.9034 GBP

1p ordinary

SWAP

Short

2,700

36.9018 GBP

1p ordinary

SWAP

Short

5,199

36.8000 GBP

1p ordinary

CFD

Short

7,900

36.8000 GBP

1p ordinary

SWAP

Short

17,271

36.8888 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:

06 Jul 2023

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213