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:

16 Oct 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:

7,492,302

6.58%

2,006,969

1.76%

(2)

Cash-settled derivatives:

and/or controlled:

1,332,208

1.17%

7,398,306

6.50%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

8,824,510

7.75%

9,405,275

8.26%

(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

35,662

37.9467 GBP

1p ordinary

Purchase

20,000

37.9689 GBP

1p ordinary

Purchase

12,841

37.9596 GBP

1p ordinary

Purchase

5,417

37.9643 GBP

1p ordinary

Purchase

3,907

37.9532 GBP

1p ordinary

Purchase

3,567

37.9828 GBP

1p ordinary

Purchase

2,820

37.9400 GBP

1p ordinary

Purchase

2,580

37.9810 GBP

1p ordinary

Purchase

2,538

37.9811 GBP

1p ordinary

Purchase

2,050

37.9690 GBP

1p ordinary

Purchase

1,991

37.9724 GBP

1p ordinary

Purchase

1,801

37.9500 GBP

1p ordinary

Purchase

1,788

37.9825 GBP

1p ordinary

Purchase

1,775

37.9874 GBP

1p ordinary

Purchase

1,273

37.9982 GBP

1p ordinary

Purchase

1,216

37.9880 GBP

1p ordinary

Purchase

1,181

37.9530 GBP

1p ordinary

Purchase

843

37.9609 GBP

1p ordinary

Purchase

724

37.9911 GBP

1p ordinary

Purchase

558

38.0000 GBP

1p ordinary

Purchase

507

37.9800 GBP

1p ordinary

Purchase

454

37.9585 GBP

1p ordinary

Purchase

331

37.9857 GBP

1p ordinary

Purchase

260

37.9700 GBP

1p ordinary

Purchase

234

37.9900 GBP

1p ordinary

Purchase

139

37.9462 GBP

1p ordinary

Sale

38,977

37.9491 GBP

1p ordinary

Sale

22,661

37.9555 GBP

1p ordinary

Sale

9,384

37.9400 GBP

1p ordinary

Sale

4,482

37.9524 GBP

1p ordinary

Sale

3,614

37.9446 GBP

1p ordinary

Sale

2,371

37.9368 GBP

1p ordinary

Sale

2,356

37.9362 GBP

1p ordinary

Sale

1,795

37.9500 GBP

1p ordinary

Sale

1,008

37.9394 GBP

1p ordinary

Sale

739

37.9800 GBP

1p ordinary

Sale

725

37.9600 GBP

1p ordinary

Sale

551

37.9548 GBP

1p ordinary

Sale

244

38.0000 GBP

1p ordinary

Sale

234

37.9900 GBP

1p ordinary

Sale

166

37.9300 GBP

1p ordinary

Sale

3

37.9353 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

3

37.9352 GBP

1p ordinary

SWAP

Long

171

37.9800 GBP

1p ordinary

CFD

Long

570

37.9487 GBP

1p ordinary

SWAP

Long

1,008

37.9394 GBP

1p ordinary

SWAP

Long

1,437

37.9400 GBP

1p ordinary

SWAP

Long

2,356

37.9362 GBP

1p ordinary

CFD

Long

5,087

37.9400 GBP

1p ordinary

SWAP

Long

12,370

37.9511 GBP

1p ordinary

SWAP

Long

16,258

37.9566 GBP

1p ordinary

CFD

Short

139

37.9462 GBP

1p ordinary

SWAP

Short

163

37.9800 GBP

1p ordinary

CFD

Short

1,180

37.9400 GBP

1p ordinary

CFD

Short

1,524

37.9947 GBP

1p ordinary

SWAP

Short

1,991

37.9724 GBP

1p ordinary

CFD

Short

2,538

37.9811 GBP

1p ordinary

SWAP

Short

2,983

37.9810 GBP

1p ordinary

SWAP

Short

11,738

37.9581 GBP

1p ordinary

SWAP

Short

15,042

37.9806 GBP

1p ordinary

SWAP

Short

20,000

37.9689 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:

17 Oct 2023

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213