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:

04 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:

1,721,622

1.51%

1,425,899

1.25%

(2)

Cash-settled derivatives:

and/or controlled:

1,341,696

1.18%

1,597,896

1.40%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

3,063,318

2.69%

3,023,795

2.66%

(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

24

36.8700 GBP

1p ordinary

Sale

469

36.8818 GBP

1p ordinary

Sale

2,388

36.8671 GBP

1p ordinary

Purchase

4,528

36.8921 GBP

1p ordinary

Sale

49,719

36.8696 GBP

1p ordinary

Purchase

1,284

36.9229 GBP

1p ordinary

Purchase

859

36.8800 GBP

1p ordinary

Purchase

22,701

36.8992 GBP

1p ordinary

Purchase

84

36.9100 GBP

1p ordinary

Sale

12,976

36.8775 GBP

1p ordinary

Sale

880

36.8861 GBP

1p ordinary

Sale

281

36.8649 GBP

1p ordinary

Sale

470

36.8960 GBP

1p ordinary

Purchase

3,492

36.8786 GBP

1p ordinary

Sale

18

36.9400 GBP

1p ordinary

Sale

783

36.8836 GBP

1p ordinary

Sale

7,715

36.8412 GBP

1p ordinary

Purchase

973

36.8916 GBP

1p ordinary

Sale

2,244

36.8800 GBP

1p ordinary

Purchase

7,470

36.8400 GBP

1p ordinary

Sale

2,240

36.8779 GBP

1p ordinary

Purchase

213

36.8763 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

5

36.8800 GBP

1p ordinary

CFD

Long

74

36.8913 GBP

1p ordinary

SWAP

Long

281

36.8649 GBP

1p ordinary

SWAP

Long

502

36.8200 GBP

1p ordinary

SWAP

Long

1,257

36.8600 GBP

1p ordinary

CFD

Long

4,704

36.8792 GBP

1p ordinary

SWAP

Long

10,815

36.8794 GBP

1p ordinary

SWAP

Long

49,719

36.8696 GBP

1p ordinary

SWAP

Short

27

36.8673 GBP

1p ordinary

SWAP

Short

53

36.8821 GBP

1p ordinary

SWAP

Short

200

36.8800 GBP

1p ordinary

SWAP

Short

540

36.8819 GBP

1p ordinary

SWAP

Short

2,216

36.8879 GBP

1p ordinary

SWAP

Short

25,283

36.9013 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:

05 Jul 2023

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213