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:

21 Apr 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:

741,308

0.65%

1,482,643

1.30%

(2)

Cash-settled derivatives:

and/or controlled:

1,426,278

1.25%

697,428

0.61%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

2,167,586

1.90%

2,180,071

1.91%

(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

75

37.7600 GBP

1p ordinary

Purchase

180

37.5961 GBP

1p ordinary

Purchase

436

37.6000 GBP

1p ordinary

Purchase

444

37.7968 GBP

1p ordinary

Purchase

456

37.5972 GBP

1p ordinary

Purchase

771

37.6422 GBP

1p ordinary

Purchase

875

37.7026 GBP

1p ordinary

Purchase

2,412

37.5690 GBP

1p ordinary

Purchase

2,428

37.7404 GBP

1p ordinary

Purchase

3,118

38.1000 GBP

1p ordinary

Purchase

4,819

37.5729 GBP

1p ordinary

Purchase

5,552

37.7364 GBP

1p ordinary

Purchase

6,576

37.7292 GBP

1p ordinary

Purchase

9,138

38.0172 GBP

1p ordinary

Purchase

9,813

37.6800 GBP

1p ordinary

Purchase

10,323

37.7231 GBP

1p ordinary

Purchase

12,045

37.6843 GBP

1p ordinary

Purchase

13,875

37.6888 GBP

1p ordinary

Purchase

21,294

37.9979 GBP

1p ordinary

Purchase

25,000

37.7263 GBP

1p ordinary

Purchase

75,743

37.8171 GBP

1p ordinary

Sale

75

37.7600 GBP

1p ordinary

Sale

110

37.6600 GBP

1p ordinary

Sale

163

37.7872 GBP

1p ordinary

Sale

163

37.7392 GBP

1p ordinary

Sale

192

37.6340 GBP

1p ordinary

Sale

197

37.7396 GBP

1p ordinary

Sale

218

37.8972 GBP

1p ordinary

Sale

335

37.7252 GBP

1p ordinary

Sale

345

37.6049 GBP

1p ordinary

Sale

386

37.8548 GBP

1p ordinary

Sale

495

37.6810 GBP

1p ordinary

Sale

515

37.7266 GBP

1p ordinary

Sale

523

37.6697 GBP

1p ordinary

Sale

529

37.5997 GBP

1p ordinary

Sale

594

37.8577 GBP

1p ordinary

Sale

615

37.6393 GBP

1p ordinary

Sale

620

37.6818 GBP

1p ordinary

Sale

873

37.6952 GBP

1p ordinary

Sale

1,289

38.0992 GBP

1p ordinary

Sale

1,632

37.6851 GBP

1p ordinary

Sale

1,651

37.6959 GBP

1p ordinary

Sale

1,781

37.7590 GBP

1p ordinary

Sale

2,015

37.7312 GBP

1p ordinary

Sale

2,081

37.6820 GBP

1p ordinary

Sale

2,215

38.0571 GBP

1p ordinary

Sale

2,325

37.6865 GBP

1p ordinary

Sale

2,656

37.6860 GBP

1p ordinary

Sale

4,242

37.8254 GBP

1p ordinary

Sale

5,875

37.7050 GBP

1p ordinary

Sale

7,383

37.6800 GBP

1p ordinary

Sale

7,659

38.1019 GBP

1p ordinary

Sale

11,699

38.1000 GBP

1p ordinary

Sale

13,816

37.6900 GBP

1p ordinary

Sale

20,096

38.0059 GBP

1p ordinary

Sale

63,253

37.9894 GBP

1p ordinary

Sale

65,000

37.6611 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

23

37.6796 GBP

1p ordinary

CFD

Long

144

37.8961 GBP

1p ordinary

SWAP

Long

322

37.5996 GBP

1p ordinary

SWAP

Long

457

37.6569 GBP

1p ordinary

SWAP

Long

523

37.6697 GBP

1p ordinary

SWAP

Long

529

37.5997 GBP

1p ordinary

SWAP

Long

1,289

38.0992 GBP

1p ordinary

SWAP

Long

1,877

37.7944 GBP

1p ordinary

SWAP

Long

1,975

37.7847 GBP

1p ordinary

SWAP

Long

5,875

37.7050 GBP

1p ordinary

CFD

Long

10,993

38.1000 GBP

1p ordinary

SWAP

Long

18,202

37.9166 GBP

1p ordinary

SWAP

Long

22,968

37.9058 GBP

1p ordinary

SWAP

Long

24,853

38.1000 GBP

1p ordinary

SWAP

Long

65,000

37.6611 GBP

1p ordinary

SWAP

Short

168

37.6937 GBP

1p ordinary

SWAP

Short

385

38.1000 GBP

1p ordinary

SWAP

Short

710

37.7175 GBP

1p ordinary

SWAP

Short

784

37.6906 GBP

1p ordinary

SWAP

Short

875

37.7026 GBP

1p ordinary

SWAP

Short

1,053

37.6918 GBP

1p ordinary

SWAP

Short

2,260

37.7439 GBP

1p ordinary

SWAP

Short

2,344

37.6900 GBP

1p ordinary

SWAP

Short

2,538

37.8357 GBP

1p ordinary

SWAP

Short

5,866

37.7306 GBP

1p ordinary

SWAP

Short

9,326

37.5791 GBP

1p ordinary

SWAP

Short

12,354

37.7589 GBP

1p ordinary

SWAP

Short

19,131

37.7194 GBP

1p ordinary

CFD

Short

21,294

37.9979 GBP

1p ordinary

SWAP

Short

25,000

37.7263 GBP

1p ordinary

SWAP

Short

33,020

37.7474 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:

24 Apr 2023

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213