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:

20 Oct 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:

7,608,559

6.68%

2,121,613

1.86%

(2)

Cash-settled derivatives:

and/or controlled:

1,453,725

1.28%

7,519,000

6.60%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

9,062,284

7.96%

9,640,613

8.46%

(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

31,891

37.8458 GBP

1p ordinary

Purchase

24,449

37.8203 GBP

1p ordinary

Purchase

21,031

37.8714 GBP

1p ordinary

Purchase

15,670

37.8400 GBP

1p ordinary

Purchase

12,834

37.8617 GBP

1p ordinary

Purchase

5,710

37.8600 GBP

1p ordinary

Purchase

4,530

37.8549 GBP

1p ordinary

Purchase

2,323

37.8677 GBP

1p ordinary

Purchase

1,102

37.8200 GBP

1p ordinary

Purchase

1,088

37.8426 GBP

1p ordinary

Purchase

977

37.8542 GBP

1p ordinary

Purchase

913

37.8257 GBP

1p ordinary

Purchase

654

37.8260 GBP

1p ordinary

Purchase

626

37.8207 GBP

1p ordinary

Purchase

436

37.8485 GBP

1p ordinary

Purchase

302

37.8305 GBP

1p ordinary

Purchase

195

37.8300 GBP

1p ordinary

Purchase

191

37.8800 GBP

1p ordinary

Purchase

145

37.9400 GBP

1p ordinary

Sale

44,300

37.8399 GBP

1p ordinary

Sale

35,918

37.8498 GBP

1p ordinary

Sale

29,895

37.8200 GBP

1p ordinary

Sale

3,377

37.8290 GBP

1p ordinary

Sale

1,959

37.8344 GBP

1p ordinary

Sale

1,803

37.8285 GBP

1p ordinary

Sale

923

37.8274 GBP

1p ordinary

Sale

860

37.8325 GBP

1p ordinary

Sale

679

37.8251 GBP

1p ordinary

Sale

667

37.8297 GBP

1p ordinary

Sale

665

37.8213 GBP

1p ordinary

Sale

334

37.8149 GBP

1p ordinary

Sale

314

37.8600 GBP

1p ordinary

Sale

211

37.8091 GBP

1p ordinary

Sale

195

37.8300 GBP

1p ordinary

Sale

194

37.8319 GBP

1p ordinary

Sale

191

37.8800 GBP

1p ordinary

Sale

165

37.8400 GBP

1p ordinary

Sale

108

37.8562 GBP

1p ordinary

Sale

32

37.8837 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

9

37.8211 GBP

1p ordinary

CFD

Long

105

37.8548 GBP

1p ordinary

SWAP

Long

108

37.8562 GBP

1p ordinary

SWAP

Long

159

37.8800 GBP

1p ordinary

SWAP

Long

184

37.8465 GBP

1p ordinary

SWAP

Long

17,519

37.8336 GBP

1p ordinary

SWAP

Long

31,635

37.8418 GBP

1p ordinary

SWAP

Short

145

37.8830 GBP

1p ordinary

SWAP

Short

154

37.8618 GBP

1p ordinary

SWAP

Short

495

37.8430 GBP

1p ordinary

SWAP

Short

533

37.8400 GBP

1p ordinary

CFD

Short

981

37.8665 GBP

1p ordinary

SWAP

Short

3,275

37.8411 GBP

1p ordinary

CFD

Short

5,087

37.8600 GBP

1p ordinary

SWAP

Short

10,992

37.8570 GBP

1p ordinary

SWAP

Short

12,834

37.8617 GBP

1p ordinary

SWAP

Short

15,416

37.8784 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:

23 Oct 2023

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213