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:

27 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:

762,061

0.67%

1,267,368

1.11%

(2)

Cash-settled derivatives:

and/or controlled:

1,204,867

1.06%

709,079

0.62%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

1,966,928

1.73%

1,976,447

1.74%

(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

4

37.1600 GBP

1p ordinary

Purchase

7

37.2162 GBP

1p ordinary

Purchase

19

37.1426 GBP

1p ordinary

Purchase

24

37.0200 GBP

1p ordinary

Purchase

29

37.0300 GBP

1p ordinary

Purchase

33

37.0100 GBP

1p ordinary

Purchase

76

36.9400 GBP

1p ordinary

Purchase

105

37.1000 GBP

1p ordinary

Purchase

122

37.0600 GBP

1p ordinary

Purchase

140

37.2200 GBP

1p ordinary

Purchase

181

37.0400 GBP

1p ordinary

Purchase

208

37.0390 GBP

1p ordinary

Purchase

253

37.0861 GBP

1p ordinary

Purchase

282

37.0692 GBP

1p ordinary

Purchase

285

37.0402 GBP

1p ordinary

Purchase

351

37.0442 GBP

1p ordinary

Purchase

364

37.1861 GBP

1p ordinary

Purchase

522

37.0000 GBP

1p ordinary

Purchase

524

37.0013 GBP

1p ordinary

Purchase

527

37.0011 GBP

1p ordinary

Purchase

532

37.1006 GBP

1p ordinary

Purchase

587

37.0500 GBP

1p ordinary

Purchase

621

37.0557 GBP

1p ordinary

Purchase

654

37.0003 GBP

1p ordinary

Purchase

672

37.1260 GBP

1p ordinary

Purchase

1,042

37.0344 GBP

1p ordinary

Purchase

1,429

37.0006 GBP

1p ordinary

Purchase

2,778

37.0350 GBP

1p ordinary

Purchase

3,969

37.0505 GBP

1p ordinary

Purchase

4,197

37.1981 GBP

1p ordinary

Purchase

4,594

37.0466 GBP

1p ordinary

Purchase

8,502

37.2000 GBP

1p ordinary

Purchase

9,378

37.0406 GBP

1p ordinary

Purchase

16,299

37.0776 GBP

1p ordinary

Purchase

67,866

37.0588 GBP

1p ordinary

Sale

4

37.1600 GBP

1p ordinary

Sale

24

37.0200 GBP

1p ordinary

Sale

51

37.0592 GBP

1p ordinary

Sale

58

37.0203 GBP

1p ordinary

Sale

63

37.0296 GBP

1p ordinary

Sale

67

37.0500 GBP

1p ordinary

Sale

76

36.9400 GBP

1p ordinary

Sale

80

37.1400 GBP

1p ordinary

Sale

118

36.9800 GBP

1p ordinary

Sale

122

37.0600 GBP

1p ordinary

Sale

140

37.2211 GBP

1p ordinary

Sale

147

37.2200 GBP

1p ordinary

Sale

163

37.0373 GBP

1p ordinary

Sale

170

37.1300 GBP

1p ordinary

Sale

171

37.0514 GBP

1p ordinary

Sale

203

37.0400 GBP

1p ordinary

Sale

220

37.0125 GBP

1p ordinary

Sale

227

37.1173 GBP

1p ordinary

Sale

252

37.0109 GBP

1p ordinary

Sale

312

37.0928 GBP

1p ordinary

Sale

352

37.0366 GBP

1p ordinary

Sale

457

37.1180 GBP

1p ordinary

Sale

526

37.0863 GBP

1p ordinary

Sale

563

37.0860 GBP

1p ordinary

Sale

671

37.0000 GBP

1p ordinary

Sale

708

37.1351 GBP

1p ordinary

Sale

789

37.0758 GBP

1p ordinary

Sale

899

37.0430 GBP

1p ordinary

Sale

921

37.0356 GBP

1p ordinary

Sale

1,137

37.0436 GBP

1p ordinary

Sale

1,302

37.0482 GBP

1p ordinary

Sale

1,388

37.0227 GBP

1p ordinary

Sale

2,000

37.1000 GBP

1p ordinary

Sale

2,270

37.0845 GBP

1p ordinary

Sale

2,887

37.0998 GBP

1p ordinary

Sale

2,951

37.0871 GBP

1p ordinary

Sale

3,480

37.1139 GBP

1p ordinary

Sale

4,495

37.0854 GBP

1p ordinary

Sale

12,637

37.2000 GBP

1p ordinary

Sale

29,048

37.1854 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

95

37.1167 GBP

1p ordinary

SWAP

Long

132

37.1177 GBP

1p ordinary

SWAP

Long

312

37.0928 GBP

1p ordinary

SWAP

Long

812

37.1379 GBP

1p ordinary

SWAP

Long

2,330

37.1010 GBP

1p ordinary

SWAP

Long

2,668

37.1066 GBP

1p ordinary

CFD

Long

3,905

37.2000 GBP

1p ordinary

SWAP

Long

7,213

37.1108 GBP

1p ordinary

SWAP

Long

9,011

37.1970 GBP

1p ordinary

SWAP

Long

16,652

37.2000 GBP

1p ordinary

SWAP

Short

1

37.0800 GBP

1p ordinary

SWAP

Short

17

37.0000 GBP

1p ordinary

SWAP

Short

19

37.1426 GBP

1p ordinary

CFD

Short

253

37.0861 GBP

1p ordinary

CFD

Short

339

37.2050 GBP

1p ordinary

CFD

Short

364

37.1861 GBP

1p ordinary

CFD

Short

398

37.0385 GBP

1p ordinary

SWAP

Short

441

37.0836 GBP

1p ordinary

SWAP

Short

558

37.0811 GBP

1p ordinary

CFD

Short

1,109

37.0971 GBP

1p ordinary

CFD

Short

1,390

37.2000 GBP

1p ordinary

SWAP

Short

1,512

37.0837 GBP

1p ordinary

CFD

Short

2,778

37.0350 GBP

1p ordinary

SWAP

Short

4,844

37.2000 GBP

1p ordinary

SWAP

Short

5,000

37.0029 GBP

1p ordinary

SWAP

Short

5,445

37.0274 GBP

1p ordinary

SWAP

Short

12,405

37.0346 GBP

1p ordinary

SWAP

Short

28,670

37.0872 GBP

1p ordinary

SWAP

Short

29,341

37.0383 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:

28 Apr 2023

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213