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:

17 Nov 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:

7,484,246

6.57%

1,576,158

1.38%

(2)

Cash-settled derivatives:

and/or controlled:

884,150

0.78%

7,413,793

6.51%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

8,368,396

7.35%

8,989,951

7.89%

(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

54,145

38.1235 GBP

1p ordinary

Purchase

22,847

37.8905 GBP

1p ordinary

Purchase

14,917

38.2900 GBP

1p ordinary

Purchase

12,630

38.2889 GBP

1p ordinary

Purchase

7,590

37.9458 GBP

1p ordinary

Purchase

6,853

38.2373 GBP

1p ordinary

Purchase

5,378

38.0139 GBP

1p ordinary

Purchase

4,201

38.1005 GBP

1p ordinary

Purchase

3,462

37.8943 GBP

1p ordinary

Purchase

2,480

38.2296 GBP

1p ordinary

Purchase

2,419

38.1035 GBP

1p ordinary

Purchase

2,096

38.1993 GBP

1p ordinary

Purchase

1,335

37.8800 GBP

1p ordinary

Purchase

1,084

37.7000 GBP

1p ordinary

Purchase

1,000

37.7628 GBP

1p ordinary

Purchase

932

37.9132 GBP

1p ordinary

Purchase

831

38.2876 GBP

1p ordinary

Purchase

714

37.9170 GBP

1p ordinary

Purchase

710

38.1827 GBP

1p ordinary

Purchase

648

38.1607 GBP

1p ordinary

Purchase

618

38.2200 GBP

1p ordinary

Purchase

521

38.3000 GBP

1p ordinary

Purchase

441

37.7788 GBP

1p ordinary

Purchase

407

37.8400 GBP

1p ordinary

Purchase

386

38.0839 GBP

1p ordinary

Purchase

292

38.2800 GBP

1p ordinary

Purchase

267

37.8200 GBP

1p ordinary

Purchase

243

37.8000 GBP

1p ordinary

Purchase

162

37.7162 GBP

1p ordinary

Purchase

138

37.7700 GBP

1p ordinary

Purchase

119

37.9200 GBP

1p ordinary

Purchase

50

38.2594 GBP

1p ordinary

Purchase

10

37.8300 GBP

1p ordinary

Sale

24,176

38.0473 GBP

1p ordinary

Sale

22,038

38.2847 GBP

1p ordinary

Sale

14,917

38.2900 GBP

1p ordinary

Sale

9,437

37.9080 GBP

1p ordinary

Sale

8,027

37.7000 GBP

1p ordinary

Sale

5,690

37.8288 GBP

1p ordinary

Sale

3,941

38.0758 GBP

1p ordinary

Sale

3,600

37.8494 GBP

1p ordinary

Sale

3,253

37.8777 GBP

1p ordinary

Sale

3,030

37.8130 GBP

1p ordinary

Sale

2,700

38.1005 GBP

1p ordinary

Sale

2,425

37.7562 GBP

1p ordinary

Sale

1,736

37.7600 GBP

1p ordinary

Sale

1,528

37.8369 GBP

1p ordinary

Sale

1,260

38.2803 GBP

1p ordinary

Sale

1,093

37.8800 GBP

1p ordinary

Sale

922

38.2400 GBP

1p ordinary

Sale

746

37.8190 GBP

1p ordinary

Sale

662

37.8200 GBP

1p ordinary

Sale

568

37.7867 GBP

1p ordinary

Sale

496

37.8000 GBP

1p ordinary

Sale

471

37.8357 GBP

1p ordinary

Sale

292

38.2800 GBP

1p ordinary

Sale

70

37.8005 GBP

1p ordinary

Sale

17

37.8818 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

292

37.8876 GBP

1p ordinary

SWAP

Long

471

37.8357 GBP

1p ordinary

SWAP

Long

545

38.0758 GBP

1p ordinary

SWAP

Long

1,260

38.2803 GBP

1p ordinary

SWAP

Long

1,736

37.7600 GBP

1p ordinary

SWAP

Long

2,425

37.7562 GBP

1p ordinary

SWAP

Long

2,700

38.1005 GBP

1p ordinary

SWAP

Long

13,178

37.8249 GBP

1p ordinary

SWAP

Long

15,375

37.6967 GBP

1p ordinary

SWAP

Long

21,005

38.2880 GBP

1p ordinary

SWAP

Long

22,038

38.2847 GBP

1p ordinary

SWAP

Long

24,534

38.0543 GBP

1p ordinary

SWAP

Short

50

38.2594 GBP

1p ordinary

SWAP

Short

191

38.2298 GBP

1p ordinary

SWAP

Short

311

38.2299 GBP

1p ordinary

SWAP

Short

384

37.8139 GBP

1p ordinary

SWAP

Short

1,000

37.7628 GBP

1p ordinary

SWAP

Short

2,000

38.2238 GBP

1p ordinary

SWAP

Short

2,480

38.2296 GBP

1p ordinary

CFD

Short

6,853

38.2373 GBP

1p ordinary

SWAP

Short

10,000

37.9001 GBP

1p ordinary

SWAP

Short

10,000

37.7030 GBP

1p ordinary

SWAP

Short

15,280

38.1729 GBP

1p ordinary

SWAP

Short

20,586

38.0637 GBP

1p ordinary

SWAP

Short

23,000

38.2838 GBP

1p ordinary

SWAP

Short

29,738

38.0636 GBP

1p ordinary

SWAP

Short

42,700

38.2972 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:

20 Nov 2023

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213