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:

09 Aug 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:

3,299,515

2.90%

1,683,629

1.48%

(2)

Cash-settled derivatives:

and/or controlled:

1,664,216

1.46%

3,224,164

2.83%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

4,963,731

4.36%

4,907,793

4.31%

(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

Sale

1,198

37.6403 GBP

1p ordinary

Purchase

18,292

37.9203 GBP

1p ordinary

Purchase

1,437

37.6500 GBP

1p ordinary

Purchase

26,852

37.7738 GBP

1p ordinary

Purchase

528

37.6986 GBP

1p ordinary

Sale

376

37.6400 GBP

1p ordinary

Purchase

17,058

37.9200 GBP

1p ordinary

Sale

15,000

37.8877 GBP

1p ordinary

Purchase

11

37.8600 GBP

1p ordinary

Purchase

808

37.6362 GBP

1p ordinary

Purchase

4,803

37.7549 GBP

1p ordinary

Purchase

699

37.9207 GBP

1p ordinary

Purchase

12,249

37.8064 GBP

1p ordinary

Sale

1,437

37.6500 GBP

1p ordinary

Sale

975

37.8647 GBP

1p ordinary

Sale

11

37.8600 GBP

1p ordinary

Sale

1,492

37.8573 GBP

1p ordinary

Sale

21

37.7114 GBP

1p ordinary

Purchase

716

37.6906 GBP

1p ordinary

Sale

8,511

37.9200 GBP

1p ordinary

Sale

19,834

37.9199 GBP

1p ordinary

Purchase

2,561

37.6400 GBP

1p ordinary

Sale

15

37.6440 GBP

1p ordinary

Sale

18

37.6000 GBP

1p ordinary

Purchase

6,694

37.9181 GBP

1p ordinary

Sale

215

37.6800 GBP

1p ordinary

Sale

9,000

37.6358 GBP

1p ordinary

Purchase

1,431

37.7881 GBP

1p ordinary

Sale

49,236

37.8360 GBP

1p ordinary

Purchase

584

37.6600 GBP

1p ordinary

Sale

2,550

37.9062 GBP

1p ordinary

Purchase

4,559

37.9075 GBP

1p ordinary

Sale

22

37.7427 GBP

1p ordinary

Purchase

44

37.8800 GBP

1p ordinary

Purchase

8,120

37.7698 GBP

1p ordinary

Sale

11,038

37.7307 GBP

1p ordinary

Purchase

413

37.6318 GBP

1p ordinary

Sale

8,782

37.7376 GBP

(b)

Cash-settled derivative transactions

Class of

Product

Nature of dealing

Number of

Price per

relevant

description

reference

unit

security

securities

1p ordinary

CFD

Long

46

37.7517 GBP

1p ordinary

SWAP

Long

280

37.6910 GBP

1p ordinary

SWAP

Long

361

37.6400 GBP

1p ordinary

SWAP

Long

2,000

37.6313 GBP

1p ordinary

SWAP

Long

2,550

37.9062 GBP

1p ordinary

CFD

Long

3,783

37.9200 GBP

1p ordinary

SWAP

Long

4,729

37.9200 GBP

1p ordinary

SWAP

Long

7,000

37.6371 GBP

1p ordinary

SWAP

Long

15,000

37.8877 GBP

1p ordinary

SWAP

Long

31,340

37.7641 GBP

1p ordinary

SWAP

Long

35,734

37.8351 GBP

1p ordinary

CFD

Short

29

37.9200 GBP

1p ordinary

SWAP

Short

153

37.6600 GBP

1p ordinary

SWAP

Short

280

37.9200 GBP

1p ordinary

SWAP

Short

699

37.9207 GBP

1p ordinary

SWAP

Short

840

37.6630 GBP

1p ordinary

SWAP

Short

1,751

37.9226 GBP

1p ordinary

SWAP

Short

2,460

37.8293 GBP

1p ordinary

SWAP

Short

2,480

37.6437 GBP

1p ordinary

CFD

Short

4,559

37.9075 GBP

1p ordinary

SWAP

Short

12,023

37.6708 GBP

1p ordinary

SWAP

Short

12,249

37.8064 GBP

1p ordinary

SWAP

Short

18,292

37.9203 GBP

1p ordinary

SWAP

Short

23,417

37.8061 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:

10 Aug 2023

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213