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:

06 Dec 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:

7,654,861

6.72%

976,562

0.86%

(2)

Cash-settled derivatives:

and/or controlled:

971,763

0.85%

7,592,510

6.67%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

8,626,624

7.57%

8,569,072

7.52%

(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

22,109

38.3600 GBP

1p ordinary

Purchase

15,961

38.3486 GBP

1p ordinary

Purchase

10,635

38.3302 GBP

1p ordinary

Purchase

7,209

38.3580 GBP

1p ordinary

Purchase

3,010

38.3479 GBP

1p ordinary

Purchase

1,344

38.3177 GBP

1p ordinary

Purchase

621

38.3400 GBP

1p ordinary

Purchase

227

38.3200 GBP

1p ordinary

Purchase

186

38.3000 GBP

1p ordinary

Purchase

124

38.3203 GBP

1p ordinary

Purchase

119

38.3500 GBP

1p ordinary

Purchase

111

38.3100 GBP

1p ordinary

Purchase

63

38.3241 GBP

1p ordinary

Purchase

15

38.3453 GBP

1p ordinary

Sale

26,800

38.3599 GBP

1p ordinary

Sale

18,115

38.3400 GBP

1p ordinary

Sale

9,706

38.3214 GBP

1p ordinary

Sale

5,905

38.3188 GBP

1p ordinary

Sale

3,607

38.3000 GBP

1p ordinary

Sale

2,577

38.3023 GBP

1p ordinary

Sale

462

38.3285 GBP

1p ordinary

Sale

450

38.3200 GBP

1p ordinary

Sale

392

38.3060 GBP

1p ordinary

Sale

119

38.3500 GBP

1p ordinary

Sale

114

38.3600 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

2,173

38.3282 GBP

1p ordinary

SWAP

Long

6,980

38.3257 GBP

1p ordinary

SWAP

Long

14,815

38.3098 GBP

1p ordinary

SWAP

Short

8

38.3438 GBP

1p ordinary

SWAP

Short

15

38.3451 GBP

1p ordinary

SWAP

Short

62

38.3238 GBP

1p ordinary

SWAP

Short

220

38.3400 GBP

1p ordinary

SWAP

Short

1,263

38.3600 GBP

1p ordinary

SWAP

Short

1,344

38.3177 GBP

1p ordinary

SWAP

Short

6,536

38.3431 GBP

1p ordinary

SWAP

Short

10,629

38.3302 GBP

1p ordinary

SWAP

Short

11,596

38.3500 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:

07 Dec 2023

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213