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:

01 Aug 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:

3,015,611

2.65%

1,490,733

1.31%

(2)

Cash-settled derivatives:

and/or controlled:

1,458,264

1.28%

2,925,849

2.57%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

4,473,875

3.93%

4,416,582

3.88%

(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

4,027

37.2035 GBP

1p ordinary

Sale

19,431

37.0558 GBP

1p ordinary

Purchase

5,551

36.8781 GBP

1p ordinary

Purchase

31

37.2283 GBP

1p ordinary

Sale

31

37.2321 GBP

1p ordinary

Sale

1

37.1800 GBP

1p ordinary

Purchase

34

37.1900 GBP

1p ordinary

Sale

10,091

36.9104 GBP

1p ordinary

Sale

851

37.1736 GBP

1p ordinary

Purchase

5,043

37.2156 GBP

1p ordinary

Purchase

1,299

37.1879 GBP

1p ordinary

Sale

14,775

36.8650 GBP

1p ordinary

Purchase

429

36.8882 GBP

1p ordinary

Purchase

39,303

36.9786 GBP

1p ordinary

Purchase

5,870

36.9253 GBP

1p ordinary

Purchase

5,294

36.9225 GBP

1p ordinary

Sale

11,104

36.8800 GBP

1p ordinary

Purchase

160

36.9000 GBP

1p ordinary

Sale

74

37.2169 GBP

1p ordinary

Sale

9,967

37.1315 GBP

1p ordinary

Sale

5,326

37.1997 GBP

1p ordinary

Sale

51

37.2000 GBP

1p ordinary

Purchase

621

37.1912 GBP

1p ordinary

Purchase

132

36.8060 GBP

1p ordinary

Sale

1

36.5800 GBP

1p ordinary

Purchase

9,214

36.9086 GBP

1p ordinary

Purchase

51

37.2000 GBP

1p ordinary

Purchase

72

37.2015 GBP

1p ordinary

Purchase

5,588

36.9109 GBP

1p ordinary

Purchase

14,605

37.2004 GBP

1p ordinary

Purchase

74

37.2132 GBP

1p ordinary

Sale

20

37.2200 GBP

1p ordinary

Purchase

1

37.1800 GBP

1p ordinary

Sale

926

37.0324 GBP

1p ordinary

Purchase

429

37.2200 GBP

1p ordinary

Purchase

12,448

36.9450 GBP

1p ordinary

Purchase

8,632

36.8800 GBP

1p ordinary

Sale

12,822

36.9615 GBP

1p ordinary

Purchase

3,643

36.9213 GBP

1p ordinary

Sale

2,348

37.0207 GBP

1p ordinary

Purchase

8,378

36.8991 GBP

1p ordinary

Sale

11,591

36.8126 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

2,000

37.1726 GBP

1p ordinary

SWAP

Long

3,364

36.8869 GBP

1p ordinary

CFD

Long

5,197

36.8800 GBP

1p ordinary

CFD

Long

11,591

36.8126 GBP

1p ordinary

SWAP

Long

12,775

36.8169 GBP

1p ordinary

SWAP

Long

12,822

36.9615 GBP

1p ordinary

SWAP

Long

13,823

37.0530 GBP

1p ordinary

SWAP

Long

15,410

37.1452 GBP

1p ordinary

CFD

Short

35

36.8800 GBP

1p ordinary

CFD

Short

40

37.0620 GBP

1p ordinary

CFD

Short

132

36.8060 GBP

1p ordinary

SWAP

Short

381

36.9733 GBP

1p ordinary

SWAP

Short

468

36.8823 GBP

1p ordinary

CFD

Short

734

37.1650 GBP

1p ordinary

SWAP

Short

1,013

37.2429 GBP

1p ordinary

CFD

Short

1,247

37.2250 GBP

1p ordinary

SWAP

Short

1,270

37.2000 GBP

1p ordinary

SWAP

Short

2,039

36.7826 GBP

1p ordinary

SWAP

Short

2,200

36.9469 GBP

1p ordinary

SWAP

Short

3,670

36.9123 GBP

1p ordinary

SWAP

Short

5,000

36.9829 GBP

1p ordinary

SWAP

Short

8,000

36.8836 GBP

1p ordinary

SWAP

Short

10,000

36.9029 GBP

1p ordinary

SWAP

Short

11,750

37.0188 GBP

1p ordinary

SWAP

Short

14,605

37.2004 GBP

1p ordinary

SWAP

Short

25,000

36.8993 GBP

1p ordinary

SWAP

Short

30,000

37.0029 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:

02 Aug 2023

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213