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:

08 Sep 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:

6,175,757

5.42%

1,821,395

1.60%

(2)

Cash-settled derivatives:

and/or controlled:

1,801,521

1.58%

6,092,702

5.35%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

7,977,278

7.00%

7,914,097

6.95%

(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

25,000

38.0836 GBP

1p ordinary

Purchase

13,000

38.0988 GBP

1p ordinary

Purchase

10,000

38.0390 GBP

1p ordinary

Purchase

6,345

38.1085 GBP

1p ordinary

Purchase

4,409

38.0600 GBP

1p ordinary

Purchase

4,322

38.1104 GBP

1p ordinary

Purchase

3,648

38.0814 GBP

1p ordinary

Purchase

3,633

38.1119 GBP

1p ordinary

Purchase

2,817

38.1047 GBP

1p ordinary

Purchase

2,682

38.0800 GBP

1p ordinary

Purchase

2,417

38.0893 GBP

1p ordinary

Purchase

2,132

38.0712 GBP

1p ordinary

Purchase

1,777

38.1000 GBP

1p ordinary

Purchase

1,052

38.0590 GBP

1p ordinary

Purchase

1,006

38.1013 GBP

1p ordinary

Purchase

619

38.0771 GBP

1p ordinary

Purchase

618

38.1197 GBP

1p ordinary

Purchase

477

38.1200 GBP

1p ordinary

Purchase

370

38.0900 GBP

1p ordinary

Purchase

10

38.0840 GBP

1p ordinary

Sale

239,182

38.0600 GBP

1p ordinary

Sale

3,794

38.0894 GBP

1p ordinary

Sale

3,275

38.0700 GBP

1p ordinary

Sale

2,040

38.0705 GBP

1p ordinary

Sale

1,029

38.0709 GBP

1p ordinary

Sale

458

38.0726 GBP

1p ordinary

Sale

191

38.1000 GBP

1p ordinary

Sale

123

38.0691 GBP

1p ordinary

Sale

123

38.0802 GBP

1p ordinary

Sale

55

38.0916 GBP

1p ordinary

Sale

14

38.0800 GBP

(b)

Cash-settled derivative transactions

Class of

Product

Nature of dealing

Number of

Price per

relevant

description

reference

unit

security

securities

1p ordinary

CFD

Long

1

38.0600 GBP

1p ordinary

SWAP

Long

123

38.0802 GBP

1p ordinary

SWAP

Long

123

38.0692 GBP

1p ordinary

SWAP

Long

271

38.0917 GBP

1p ordinary

SWAP

Long

458

38.0726 GBP

1p ordinary

SWAP

Long

1,938

38.0711 GBP

1p ordinary

SWAP

Long

3,275

38.0700 GBP

1p ordinary

SWAP

Long

3,794

38.0894 GBP

1p ordinary

SWAP

Long

239,010

38.0600 GBP

1p ordinary

CFD

Short

3

38.0633 GBP

1p ordinary

SWAP

Short

10

38.0838 GBP

1p ordinary

SWAP

Short

21

38.0638 GBP

1p ordinary

SWAP

Short

214

38.1000 GBP

1p ordinary

SWAP

Short

269

38.0600 GBP

1p ordinary

SWAP

Short

1,052

38.0590 GBP

1p ordinary

SWAP

Short

2,417

38.0893 GBP

1p ordinary

SWAP

Short

2,817

38.1047 GBP

1p ordinary

SWAP

Short

3,387

38.0866 GBP

1p ordinary

SWAP

Short

5,624

38.0841 GBP

1p ordinary

SWAP

Short

6,969

38.1017 GBP

1p ordinary

SWAP

Short

7,963

38.1200 GBP

1p ordinary

SWAP

Short

10,000

38.0390 GBP

1p ordinary

SWAP

Short

13,000

38.0988 GBP

1p ordinary

SWAP

Short

25,000

38.0836 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:

11 Sep 2023

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213