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:

24 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:

7,501,243

6.59%

1,002,826

0.88%

(2)

Cash-settled derivatives:

and/or controlled:

993,746

0.87%

7,444,753

6.54%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

8,494,989

7.46%

8,447,579

7.42%

(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

183,620

38.2200 GBP

1p ordinary

Purchase

14,538

38.2288 GBP

1p ordinary

Purchase

4,110

38.2391 GBP

1p ordinary

Purchase

2,488

38.2400 GBP

1p ordinary

Purchase

839

38.2398 GBP

1p ordinary

Purchase

348

38.2343 GBP

1p ordinary

Purchase

170

38.2000 GBP

1p ordinary

Purchase

146

38.2300 GBP

1p ordinary

Sale

12,824

38.2200 GBP

1p ordinary

Sale

10,927

38.2152 GBP

1p ordinary

Sale

4,068

38.2005 GBP

1p ordinary

Sale

3,584

38.2078 GBP

1p ordinary

Sale

2,282

38.2175 GBP

1p ordinary

Sale

2,204

38.2400 GBP

1p ordinary

Sale

691

38.2150 GBP

1p ordinary

Sale

258

38.2457 GBP

1p ordinary

Sale

158

38.2000 GBP

1p ordinary

Sale

45

38.2086 GBP

1p ordinary

Sale

26

38.2046 GBP

1p ordinary

Sale

3

38.2018 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

3

38.2018 GBP

1p ordinary

SWAP

Long

40

38.2117 GBP

1p ordinary

SWAP

Long

45

38.2086 GBP

1p ordinary

SWAP

Long

206

38.2200 GBP

1p ordinary

SWAP

Long

2,193

38.2400 GBP

1p ordinary

SWAP

Long

2,282

38.2175 GBP

1p ordinary

SWAP

Long

3,867

38.2099 GBP

1p ordinary

SWAP

Long

4,634

38.2005 GBP

1p ordinary

SWAP

Long

10,927

38.2152 GBP

1p ordinary

CFD

Short

511

38.2228 GBP

1p ordinary

SWAP

Short

839

38.2398 GBP

1p ordinary

CFD

Short

945

38.2251 GBP

1p ordinary

SWAP

Short

1,827

38.2391 GBP

1p ordinary

CFD

Short

2,283

38.2391 GBP

1p ordinary

SWAP

Short

4,534

38.2252 GBP

1p ordinary

SWAP

Short

7,661

38.2393 GBP

1p ordinary

SWAP

Short

175,876

38.2200 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 Nov 2023

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213