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:

04 Jan 2024

(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:

7,379,475

6.48%

623,421

0.55%

(2)

Cash-settled derivatives:

and/or controlled:

624,390

0.55%

7,309,695

6.42%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

8,003,865

7.03%

7,933,116

6.96%

(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

44,715

38.5666 GBP

1p ordinary

Purchase

15,610

38.5648 GBP

1p ordinary

Purchase

10,500

38.5677 GBP

1p ordinary

Purchase

10,500

38.5828 GBP

1p ordinary

Purchase

9,696

38.5580 GBP

1p ordinary

Purchase

4,867

38.5600 GBP

1p ordinary

Purchase

4,467

38.5755 GBP

1p ordinary

Purchase

1,935

38.6000 GBP

1p ordinary

Purchase

1,888

38.5900 GBP

1p ordinary

Purchase

769

38.5611 GBP

1p ordinary

Purchase

531

38.5800 GBP

1p ordinary

Purchase

480

38.5847 GBP

1p ordinary

Purchase

333

38.5665 GBP

1p ordinary

Purchase

308

38.5921 GBP

1p ordinary

Purchase

187

38.5700 GBP

1p ordinary

Purchase

139

38.5605 GBP

1p ordinary

Purchase

15

38.5946 GBP

1p ordinary

Purchase

11

38.5618 GBP

1p ordinary

Sale

14,792

38.5600 GBP

1p ordinary

Sale

3,983

38.5707 GBP

1p ordinary

Sale

3,600

38.5773 GBP

1p ordinary

Sale

3,092

38.5800 GBP

1p ordinary

Sale

2,902

38.5807 GBP

1p ordinary

Sale

1,495

38.5816 GBP

1p ordinary

Sale

480

38.5847 GBP

1p ordinary

Sale

476

38.6000 GBP

1p ordinary

Sale

2

38.5561 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

Closing Long

935

38.5800 GBP

1p ordinary

SWAP

Closing Long

8,730

38.5689 GBP

1p ordinary

SWAP

Decreasing Long

4,528

38.5876 GBP

1p ordinary

SWAP

Decreasing Long

15,421

38.5600 GBP

1p ordinary

SWAP

Decreasing Short

1

38.5800 GBP

1p ordinary

SWAP

Decreasing Short

2

38.5561 GBP

1p ordinary

SWAP

Decreasing Short

2,902

38.5807 GBP

1p ordinary

SWAP

Increasing Long

94

38.5800 GBP

1p ordinary

SWAP

Increasing Short

41

38.5817 GBP

1p ordinary

CFD

Increasing Short

4,833

38.5796 GBP

1p ordinary

SWAP

Increasing Short

10,500

38.5677 GBP

1p ordinary

SWAP

Increasing Short

10,500

38.5828 GBP

1p ordinary

SWAP

Increasing Short

15,610

38.5648 GBP

1p ordinary

SWAP

Opening Long

3,600

38.5773 GBP

1p ordinary

SWAP

Opening Short

228

38.6000 GBP

1p ordinary

SWAP

Opening Short

2,146

38.5810 GBP

1p ordinary

SWAP

Opening Short

4,647

38.5800 GBP

1p ordinary

SWAP

Opening Short

10,454

38.5600 GBP

1p ordinary

SWAP

Opening Short

10,896

38.5719 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:

05 Jan 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213