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:

08 Jan 2024

(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:

6,988,944

6.14%

607,467

0.53%

(2)

Cash-settled derivatives:

and/or controlled:

608,245

0.53%

6,920,174

6.08%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

7,597,189

6.67%

7,527,641

6.61%

(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

58,086

38.6065 GBP

1p ordinary

Purchase

10,325

38.5802 GBP

1p ordinary

Purchase

4,672

38.6180 GBP

1p ordinary

Purchase

4,564

38.6000 GBP

1p ordinary

Purchase

3,529

38.5800 GBP

1p ordinary

Purchase

961

38.6094 GBP

1p ordinary

Purchase

399

38.6050 GBP

1p ordinary

Purchase

162

38.6200 GBP

1p ordinary

Purchase

116

38.6100 GBP

1p ordinary

Purchase

7

38.6057 GBP

1p ordinary

Sale

222,098

38.5807 GBP

1p ordinary

Sale

124,800

38.6006 GBP

1p ordinary

Sale

75,000

38.5906 GBP

1p ordinary

Sale

13,975

38.5952 GBP

1p ordinary

Sale

5,265

38.6200 GBP

1p ordinary

Sale

3,948

38.6000 GBP

1p ordinary

Sale

3,328

38.5600 GBP

1p ordinary

Sale

273

38.5989 GBP

1p ordinary

Sale

200

38.5813 GBP

1p ordinary

Sale

21

38.6100 GBP

1p ordinary

Sale

2

38.5800 GBP

1p ordinary

Sale

1

38.5900 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

Closing Long

6

38.6016 GBP

1p ordinary

SWAP

Closing Long

17,750

38.5887 GBP

1p ordinary

SWAP

Decreasing Long

142

38.6105 GBP

1p ordinary

SWAP

Decreasing Long

3,800

38.6200 GBP

1p ordinary

SWAP

Decreasing Long

15,422

38.6000 GBP

1p ordinary

SWAP

Decreasing Short

75,000

38.5906 GBP

1p ordinary

SWAP

Decreasing Short

125,000

38.6006 GBP

1p ordinary

SWAP

Decreasing Short

222,098

38.5807 GBP

1p ordinary

SWAP

Increasing Short

7

38.6052 GBP

1p ordinary

CFD

Increasing Short

376

38.5830 GBP

1p ordinary

SWAP

Increasing Short

12,777

38.5830 GBP

1p ordinary

SWAP

Opening Short

876

38.6000 GBP

1p ordinary

SWAP

Opening Short

2,145

38.6117 GBP

1p ordinary

SWAP

Opening Short

4,469

38.6200 GBP

1p ordinary

SWAP

Opening Short

15,101

38.6044 GBP

1p ordinary

SWAP

Opening Short

19,918

38.6066 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:

09 Jan 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213