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:

26 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:

6,964,419

6.12%

1,983,233

1.74%

(2)

Cash-settled derivatives:

and/or controlled:

1,314,224

1.15%

6,862,309

6.03%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

8,278,643

7.27%

8,845,542

7.77%

(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

109,144

38.0312 GBP

1p ordinary

Purchase

46,395

38.0114 GBP

1p ordinary

Purchase

10,000

38.0366 GBP

1p ordinary

Purchase

9,640

37.9977 GBP

1p ordinary

Purchase

5,094

38.0400 GBP

1p ordinary

Purchase

2,758

37.9771 GBP

1p ordinary

Purchase

2,543

38.0167 GBP

1p ordinary

Purchase

2,242

37.9963 GBP

1p ordinary

Purchase

1,280

38.0176 GBP

1p ordinary

Purchase

977

38.0000 GBP

1p ordinary

Purchase

805

37.9662 GBP

1p ordinary

Purchase

786

38.0200 GBP

1p ordinary

Purchase

367

38.0626 GBP

1p ordinary

Purchase

107

38.0038 GBP

1p ordinary

Sale

100,281

38.0400 GBP

1p ordinary

Sale

53,229

38.0245 GBP

1p ordinary

Sale

19,427

38.0349 GBP

1p ordinary

Sale

6,940

38.0219 GBP

1p ordinary

Sale

1,489

38.0025 GBP

1p ordinary

Sale

978

38.0000 GBP

1p ordinary

Sale

586

38.0200 GBP

1p ordinary

Sale

291

38.0383 GBP

1p ordinary

Sale

280

37.9600 GBP

1p ordinary

Sale

100

38.0394 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

1

37.9962 GBP

1p ordinary

SWAP

Long

18

38.0133 GBP

1p ordinary

SWAP

Long

100

38.0394 GBP

1p ordinary

SWAP

Long

435

38.0400 GBP

1p ordinary

CFD

Long

469

38.0000 GBP

1p ordinary

CFD

Long

3,550

38.0400 GBP

1p ordinary

SWAP

Long

6,940

38.0219 GBP

1p ordinary

SWAP

Long

19,427

38.0349 GBP

1p ordinary

SWAP

Long

21,560

38.0416 GBP

1p ordinary

SWAP

Long

32,813

38.0120 GBP

1p ordinary

SWAP

Long

96,108

38.0361 GBP

1p ordinary

SWAP

Short

107

38.0038 GBP

1p ordinary

SWAP

Short

367

38.0626 GBP

1p ordinary

SWAP

Short

532

38.0113 GBP

1p ordinary

CFD

Short

586

38.0200 GBP

1p ordinary

SWAP

Short

805

37.9662 GBP

1p ordinary

SWAP

Short

817

37.9984 GBP

1p ordinary

SWAP

Short

2,242

37.9963 GBP

1p ordinary

SWAP

Short

2,618

37.9951 GBP

1p ordinary

SWAP

Short

2,758

37.9771 GBP

1p ordinary

SWAP

Short

4,389

38.0400 GBP

1p ordinary

SWAP

Short

9,642

38.0051 GBP

1p ordinary

SWAP

Short

10,000

38.0366 GBP

1p ordinary

SWAP

Short

45,863

38.0114 GBP

1p ordinary

SWAP

Short

109,144

38.0312 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:

27 Sep 2023

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213