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:

26 May 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:

773,813

0.68%

517,438

0.45%

(2)

Cash-settled derivatives:

and/or controlled:

500,352

0.44%

744,496

0.65%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

1,274,165

1.12%

1,261,934

1.11%

(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

219

31.6216 GBP

1p ordinary

Purchase

1,000

31.6367 GBP

1p ordinary

Purchase

548

31.5783 GBP

1p ordinary

Purchase

203

31.5200 GBP

1p ordinary

Purchase

365

31.7074 GBP

1p ordinary

Purchase

269

31.6100 GBP

1p ordinary

Sale

137

31.6300 GBP

1p ordinary

Purchase

113

31.5990 GBP

1p ordinary

Sale

310

31.6600 GBP

1p ordinary

Sale

23

31.6800 GBP

1p ordinary

Purchase

603

31.5677 GBP

1p ordinary

Purchase

122

31.4788 GBP

1p ordinary

Purchase

4,914

31.4668 GBP

1p ordinary

Sale

38,930

31.4000 GBP

1p ordinary

Purchase

3,392

31.6030 GBP

1p ordinary

Sale

12,500

31.5569 GBP

1p ordinary

Purchase

494

31.6451 GBP

1p ordinary

Purchase

4,055

31.4000 GBP

1p ordinary

Sale

202

31.6000 GBP

1p ordinary

Sale

33

31.8631 GBP

1p ordinary

Purchase

363

31.5330 GBP

1p ordinary

Purchase

9,973

31.4035 GBP

1p ordinary

Purchase

7,732

31.3984 GBP

1p ordinary

Sale

1,201

31.7250 GBP

1p ordinary

Sale

9,973

31.4035 GBP

1p ordinary

Purchase

107

31.6200 GBP

1p ordinary

Purchase

1,256

31.6571 GBP

1p ordinary

Purchase

292

31.6745 GBP

1p ordinary

Purchase

180

31.7100 GBP

1p ordinary

Sale

6,074

31.6482 GBP

1p ordinary

Sale

1,000

31.8568 GBP

1p ordinary

Sale

36

31.6400 GBP

1p ordinary

Purchase

390

31.8317 GBP

1p ordinary

Sale

70

31.8400 GBP

1p ordinary

Sale

141

31.6200 GBP

1p ordinary

Sale

186

31.6843 GBP

1p ordinary

Purchase

229

31.6875 GBP

1p ordinary

Purchase

113

31.6000 GBP

1p ordinary

Purchase

145

31.7200 GBP

1p ordinary

Sale

320

31.8300 GBP

1p ordinary

Purchase

350

31.5409 GBP

1p ordinary

Purchase

19,923

31.3974 GBP

1p ordinary

Purchase

1,047

31.5495 GBP

1p ordinary

Purchase

68,657

31.4270 GBP

1p ordinary

Sale

2,368

31.6151 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

250

31.8000 GBP

1p ordinary

CFD

Long

853

31.6157 GBP

1p ordinary

SWAP

Long

1,000

31.8568 GBP

1p ordinary

CFD

Long

1,110

31.5957 GBP

1p ordinary

SWAP

Long

3,543

31.7470 GBP

1p ordinary

SWAP

Long

4,117

31.5742 GBP

1p ordinary

CFD

Long

6,867

31.4000 GBP

1p ordinary

CFD

Short

19

31.5473 GBP

1p ordinary

SWAP

Short

123

31.6492 GBP

1p ordinary

CFD

Short

322

31.4000 GBP

1p ordinary

SWAP

Short

380

31.6525 GBP

1p ordinary

SWAP

Short

934

31.6516 GBP

1p ordinary

SWAP

Short

1,000

31.6367 GBP

1p ordinary

SWAP

Short

2,042

31.6515 GBP

1p ordinary

SWAP

Short

7,295

31.5005 GBP

1p ordinary

CFD

Short

9,973

31.4035 GBP

1p ordinary

SWAP

Short

22,790

31.4213 GBP

1p ordinary

SWAP

Short

27,039

31.4005 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:

29 May 2023

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213