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:

24 Apr 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:

743,804

0.65%

1,395,618

1.23%

(2)

Cash-settled derivatives:

and/or controlled:

1,337,296

1.17%

699,466

0.61%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

2,081,100

1.83%

2,095,084

1.84%

(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

1

37.9600 GBP

1p ordinary

Purchase

66

37.9096 GBP

1p ordinary

Purchase

101

37.7600 GBP

1p ordinary

Purchase

129

37.9000 GBP

1p ordinary

Purchase

154

37.6800 GBP

1p ordinary

Purchase

161

37.7204 GBP

1p ordinary

Purchase

181

37.7200 GBP

1p ordinary

Purchase

233

37.7143 GBP

1p ordinary

Purchase

292

37.7530 GBP

1p ordinary

Purchase

379

37.7212 GBP

1p ordinary

Purchase

552

37.7975 GBP

1p ordinary

Purchase

942

37.9975 GBP

1p ordinary

Purchase

1,156

37.8193 GBP

1p ordinary

Purchase

1,373

37.5400 GBP

1p ordinary

Purchase

1,668

37.7023 GBP

1p ordinary

Purchase

2,704

37.5381 GBP

1p ordinary

Purchase

3,817

38.0004 GBP

1p ordinary

Purchase

4,117

37.7000 GBP

1p ordinary

Purchase

4,555

37.7636 GBP

1p ordinary

Purchase

7,777

37.6332 GBP

1p ordinary

Purchase

107,928

37.6388 GBP

1p ordinary

Sale

6

37.8971 GBP

1p ordinary

Sale

9

37.7866 GBP

1p ordinary

Sale

47

37.9200 GBP

1p ordinary

Sale

53

37.7000 GBP

1p ordinary

Sale

54

37.7100 GBP

1p ordinary

Sale

58

37.9300 GBP

1p ordinary

Sale

59

37.7322 GBP

1p ordinary

Sale

74

37.8200 GBP

1p ordinary

Sale

80

37.9573 GBP

1p ordinary

Sale

90

37.8600 GBP

1p ordinary

Sale

91

37.7184 GBP

1p ordinary

Sale

99

37.9600 GBP

1p ordinary

Sale

121

37.6900 GBP

1p ordinary

Sale

160

37.8291 GBP

1p ordinary

Sale

165

37.6600 GBP

1p ordinary

Sale

248

37.7427 GBP

1p ordinary

Sale

252

37.8316 GBP

1p ordinary

Sale

290

37.7200 GBP

1p ordinary

Sale

337

37.8017 GBP

1p ordinary

Sale

358

37.6587 GBP

1p ordinary

Sale

376

38.0000 GBP

1p ordinary

Sale

673

37.8299 GBP

1p ordinary

Sale

1,020

37.6837 GBP

1p ordinary

Sale

1,119

37.7224 GBP

1p ordinary

Sale

1,661

37.7135 GBP

1p ordinary

Sale

1,759

37.6806 GBP

1p ordinary

Sale

3,002

37.5565 GBP

1p ordinary

Sale

3,136

37.5400 GBP

1p ordinary

Sale

5,464

37.7316 GBP

1p ordinary

Sale

6,299

37.6456 GBP

1p ordinary

Sale

6,605

37.6176 GBP

1p ordinary

Sale

15,000

37.7111 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

48

37.6816 GBP

1p ordinary

SWAP

Long

80

37.9573 GBP

1p ordinary

SWAP

Long

673

37.8299 GBP

1p ordinary

SWAP

Long

1,203

37.5400 GBP

1p ordinary

SWAP

Long

1,759

37.6806 GBP

1p ordinary

SWAP

Long

2,074

37.7256 GBP

1p ordinary

SWAP

Long

5,464

37.7316 GBP

1p ordinary

SWAP

Long

6,968

37.6529 GBP

1p ordinary

SWAP

Long

15,000

37.7111 GBP

1p ordinary

SWAP

Short

34

38.0202 GBP

1p ordinary

SWAP

Short

36

37.9270 GBP

1p ordinary

SWAP

Short

544

37.7784 GBP

1p ordinary

SWAP

Short

608

37.7930 GBP

1p ordinary

SWAP

Short

906

38.0003 GBP

1p ordinary

SWAP

Short

928

37.7921 GBP

1p ordinary

SWAP

Short

1,582

37.7783 GBP

1p ordinary

SWAP

Short

2,733

37.7007 GBP

1p ordinary

SWAP

Short

3,783

38.0002 GBP

1p ordinary

SWAP

Short

5,000

37.7030 GBP

1p ordinary

CFD

Short

7,777

37.6332 GBP

1p ordinary

SWAP

Short

22,713

37.5400 GBP

1p ordinary

SWAP

Short

36,564

37.6887 GBP

1p ordinary

SWAP

Short

41,081

37.6469 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:

25 Apr 2023

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213