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:

09 May 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:

887,636

0.78%

899,787

0.79%

(2)

Cash-settled derivatives:

and/or controlled:

817,178

0.72%

793,709

0.70%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

1,704,814

1.50%

1,693,496

1.49%

(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

33

36.5200 GBP

1p ordinary

Purchase

68

36.5600 GBP

1p ordinary

Purchase

76

36.6100 GBP

1p ordinary

Purchase

78

36.6900 GBP

1p ordinary

Purchase

80

36.3800 GBP

1p ordinary

Purchase

86

36.6400 GBP

1p ordinary

Purchase

88

36.6000 GBP

1p ordinary

Purchase

92

36.5012 GBP

1p ordinary

Purchase

161

36.6200 GBP

1p ordinary

Purchase

238

36.5287 GBP

1p ordinary

Purchase

273

36.4600 GBP

1p ordinary

Purchase

297

36.3227 GBP

1p ordinary

Purchase

304

36.3825 GBP

1p ordinary

Purchase

384

36.4730 GBP

1p ordinary

Purchase

507

36.6288 GBP

1p ordinary

Purchase

654

36.5109 GBP

1p ordinary

Purchase

804

36.5146 GBP

1p ordinary

Purchase

925

36.7140 GBP

1p ordinary

Purchase

992

36.5083 GBP

1p ordinary

Purchase

1,236

36.4479 GBP

1p ordinary

Purchase

1,251

36.5000 GBP

1p ordinary

Purchase

1,357

36.4200 GBP

1p ordinary

Purchase

1,694

36.6218 GBP

1p ordinary

Purchase

1,844

36.5258 GBP

1p ordinary

Purchase

2,320

36.6459 GBP

1p ordinary

Purchase

4,002

36.3244 GBP

1p ordinary

Purchase

7,128

36.5284 GBP

1p ordinary

Purchase

9,129

36.6470 GBP

1p ordinary

Purchase

13,380

36.6265 GBP

1p ordinary

Purchase

37,703

36.6145 GBP

1p ordinary

Purchase

48,561

36.6600 GBP

1p ordinary

Sale

48

36.6200 GBP

1p ordinary

Sale

77

36.4400 GBP

1p ordinary

Sale

78

36.6900 GBP

1p ordinary

Sale

80

36.3800 GBP

1p ordinary

Sale

80

36.3400 GBP

1p ordinary

Sale

140

36.6800 GBP

1p ordinary

Sale

140

36.6400 GBP

1p ordinary

Sale

168

36.5600 GBP

1p ordinary

Sale

192

36.5100 GBP

1p ordinary

Sale

234

36.3912 GBP

1p ordinary

Sale

243

36.5552 GBP

1p ordinary

Sale

247

36.6100 GBP

1p ordinary

Sale

254

36.5566 GBP

1p ordinary

Sale

280

36.4411 GBP

1p ordinary

Sale

321

36.5030 GBP

1p ordinary

Sale

325

36.6000 GBP

1p ordinary

Sale

354

36.4600 GBP

1p ordinary

Sale

365

36.5974 GBP

1p ordinary

Sale

387

36.5092 GBP

1p ordinary

Sale

400

36.6429 GBP

1p ordinary

Sale

405

36.5921 GBP

1p ordinary

Sale

415

36.5875 GBP

1p ordinary

Sale

451

36.5000 GBP

1p ordinary

Sale

458

36.5133 GBP

1p ordinary

Sale

458

36.4961 GBP

1p ordinary

Sale

475

36.5045 GBP

1p ordinary

Sale

480

36.6315 GBP

1p ordinary

Sale

533

36.7451 GBP

1p ordinary

Sale

577

36.5301 GBP

1p ordinary

Sale

583

36.4200 GBP

1p ordinary

Sale

721

36.5407 GBP

1p ordinary

Sale

899

36.4978 GBP

1p ordinary

Sale

965

36.6425 GBP

1p ordinary

Sale

1,165

36.5752 GBP

1p ordinary

Sale

1,371

36.6906 GBP

1p ordinary

Sale

1,590

36.5252 GBP

1p ordinary

Sale

1,893

36.6225 GBP

1p ordinary

Sale

1,925

36.4615 GBP

1p ordinary

Sale

2,470

36.5845 GBP

1p ordinary

Sale

6,194

36.6273 GBP

1p ordinary

Sale

9,075

36.6566 GBP

1p ordinary

Sale

14,488

36.5837 GBP

1p ordinary

Sale

19,336

36.6600 GBP

(b)

Cash-settled derivative transactions

Class of

Product

Nature of dealing

Number of

Price per

relevant

description

reference

unit

security

securities

1p ordinary

CFD

Long

25

36.6600 GBP

1p ordinary

SWAP

Long

365

36.5974 GBP

1p ordinary

CFD

Long

395

36.6350 GBP

1p ordinary

SWAP

Long

635

36.6374 GBP

1p ordinary

CFD

Long

1,893

36.6225 GBP

1p ordinary

SWAP

Long

3,604

36.5970 GBP

1p ordinary

SWAP

Long

6,042

36.5532 GBP

1p ordinary

SWAP

Long

10,120

36.5808 GBP

1p ordinary

CFD

Short

2

36.7800 GBP

1p ordinary

SWAP

Short

55

36.5000 GBP

1p ordinary

CFD

Short

87

36.8211 GBP

1p ordinary

SWAP

Short

92

36.5012 GBP

1p ordinary

SWAP

Short

102

36.5933 GBP

1p ordinary

SWAP

Short

137

36.5747 GBP

1p ordinary

SWAP

Short

199

36.5640 GBP

1p ordinary

SWAP

Short

297

36.3227 GBP

1p ordinary

SWAP

Short

298

36.5593 GBP

1p ordinary

SWAP

Short

304

36.3825 GBP

1p ordinary

SWAP

Short

399

36.3467 GBP

1p ordinary

CFD

Short

920

36.6447 GBP

1p ordinary

SWAP

Short

991

36.5588 GBP

1p ordinary

SWAP

Short

1,500

36.4369 GBP

1p ordinary

SWAP

Short

1,872

36.5944 GBP

1p ordinary

CFD

Short

2,211

36.6258 GBP

1p ordinary

SWAP

Short

2,590

36.5514 GBP

1p ordinary

SWAP

Short

2,948

36.6278 GBP

1p ordinary

SWAP

Short

4,002

36.3244 GBP

1p ordinary

SWAP

Short

4,443

36.4993 GBP

1p ordinary

SWAP

Short

5,000

36.5015 GBP

1p ordinary

SWAP

Short

5,655

36.6350 GBP

1p ordinary

SWAP

Short

6,141

36.5540 GBP

1p ordinary

CFD

Short

8,394

36.6600 GBP

1p ordinary

SWAP

Short

10,313

36.6164 GBP

1p ordinary

SWAP

Short

39,555

36.6600 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:

10 May 2023

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213