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:

15 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:

7,481,217

6.57%

1,714,953

1.51%

(2)

Cash-settled derivatives:

and/or controlled:

1,051,153

0.92%

7,410,682

6.51%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

8,532,370

7.49%

9,125,635

8.01%

(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

20,182

37.8802 GBP

1p ordinary

Purchase

6,324

37.8324 GBP

1p ordinary

Purchase

4,235

37.8335 GBP

1p ordinary

Purchase

3,831

37.8473 GBP

1p ordinary

Purchase

2,795

37.8286 GBP

1p ordinary

Purchase

1,862

37.8021 GBP

1p ordinary

Purchase

1,724

37.8215 GBP

1p ordinary

Purchase

1,539

37.8378 GBP

1p ordinary

Purchase

1,510

37.8400 GBP

1p ordinary

Purchase

1,169

37.7900 GBP

1p ordinary

Purchase

769

37.8310 GBP

1p ordinary

Purchase

757

37.8500 GBP

1p ordinary

Purchase

721

37.8000 GBP

1p ordinary

Purchase

490

37.7800 GBP

1p ordinary

Purchase

462

37.7922 GBP

1p ordinary

Purchase

452

37.8062 GBP

1p ordinary

Purchase

437

37.8308 GBP

1p ordinary

Purchase

417

37.8435 GBP

1p ordinary

Purchase

284

37.8576 GBP

1p ordinary

Purchase

168

37.8919 GBP

1p ordinary

Purchase

134

37.8600 GBP

1p ordinary

Purchase

65

37.8800 GBP

1p ordinary

Sale

15,743

37.8600 GBP

1p ordinary

Sale

13,157

37.8447 GBP

1p ordinary

Sale

10,145

37.8147 GBP

1p ordinary

Sale

5,062

37.8384 GBP

1p ordinary

Sale

4,053

37.8406 GBP

1p ordinary

Sale

3,987

37.8355 GBP

1p ordinary

Sale

1,255

37.8072 GBP

1p ordinary

Sale

1,106

37.8615 GBP

1p ordinary

Sale

978

37.7933 GBP

1p ordinary

Sale

839

37.7800 GBP

1p ordinary

Sale

423

37.8000 GBP

1p ordinary

Sale

279

37.8302 GBP

1p ordinary

Sale

234

37.8352 GBP

1p ordinary

Sale

204

37.8400 GBP

1p ordinary

Sale

14

37.7957 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

234

37.8352 GBP

1p ordinary

SWAP

Long

1,106

37.8615 GBP

1p ordinary

SWAP

Long

2,544

37.8226 GBP

1p ordinary

SWAP

Long

3,110

37.8224 GBP

1p ordinary

SWAP

Long

5,062

37.8384 GBP

1p ordinary

SWAP

Long

5,600

37.8310 GBP

1p ordinary

SWAP

Long

13,157

37.8447 GBP

1p ordinary

SWAP

Long

15,743

37.8600 GBP

1p ordinary

CFD

Short

452

37.8062 GBP

1p ordinary

SWAP

Short

621

37.7842 GBP

1p ordinary

SWAP

Short

1,539

37.8378 GBP

1p ordinary

SWAP

Short

3,000

37.8773 GBP

1p ordinary

SWAP

Short

3,837

37.8230 GBP

1p ordinary

SWAP

Short

4,235

37.8335 GBP

1p ordinary

SWAP

Short

4,381

37.9395 GBP

1p ordinary

SWAP

Short

5,062

37.8887 GBP

1p ordinary

SWAP

Short

6,324

37.8324 GBP

1p ordinary

SWAP

Short

8,276

37.8633 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:

16 Nov 2023

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213