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:

10 May 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:

879,864

0.77%

927,052

0.81%

(2)

Cash-settled derivatives:

and/or controlled:

844,171

0.74%

785,396

0.69%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

1,724,035

1.51%

1,712,448

1.50%

(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

7

37.1414 GBP

1p ordinary

Purchase

52

37.1800 GBP

1p ordinary

Purchase

71

37.6400 GBP

1p ordinary

Purchase

82

37.3600 GBP

1p ordinary

Purchase

107

37.2400 GBP

1p ordinary

Purchase

188

37.1600 GBP

1p ordinary

Purchase

194

37.2987 GBP

1p ordinary

Purchase

215

37.3508 GBP

1p ordinary

Purchase

260

37.2300 GBP

1p ordinary

Purchase

477

37.5585 GBP

1p ordinary

Purchase

737

37.3486 GBP

1p ordinary

Purchase

1,056

37.5104 GBP

1p ordinary

Purchase

1,152

37.5073 GBP

1p ordinary

Purchase

1,229

37.0462 GBP

1p ordinary

Purchase

1,574

37.3238 GBP

1p ordinary

Purchase

1,695

37.1872 GBP

1p ordinary

Purchase

1,738

37.3311 GBP

1p ordinary

Purchase

1,812

37.4000 GBP

1p ordinary

Purchase

1,936

37.2391 GBP

1p ordinary

Purchase

2,388

37.3102 GBP

1p ordinary

Purchase

2,523

37.3222 GBP

1p ordinary

Purchase

4,560

37.2717 GBP

1p ordinary

Purchase

5,333

37.3296 GBP

1p ordinary

Purchase

7,252

37.1181 GBP

1p ordinary

Purchase

9,829

37.3362 GBP

1p ordinary

Purchase

10,000

37.3186 GBP

1p ordinary

Purchase

21,755

37.1954 GBP

1p ordinary

Purchase

23,760

37.1200 GBP

1p ordinary

Purchase

58,025

37.1952 GBP

1p ordinary

Sale

2

37.5400 GBP

1p ordinary

Sale

11

37.2600 GBP

1p ordinary

Sale

15

37.1786 GBP

1p ordinary

Sale

47

37.1237 GBP

1p ordinary

Sale

67

37.1683 GBP

1p ordinary

Sale

71

37.4600 GBP

1p ordinary

Sale

82

37.3637 GBP

1p ordinary

Sale

82

37.3600 GBP

1p ordinary

Sale

88

37.5600 GBP

1p ordinary

Sale

180

37.5573 GBP

1p ordinary

Sale

245

37.5200 GBP

1p ordinary

Sale

416

37.3419 GBP

1p ordinary

Sale

421

37.5275 GBP

1p ordinary

Sale

514

37.3128 GBP

1p ordinary

Sale

808

37.2753 GBP

1p ordinary

Sale

833

37.3969 GBP

1p ordinary

Sale

1,338

37.2483 GBP

1p ordinary

Sale

1,500

37.3800 GBP

1p ordinary

Sale

1,750

37.3780 GBP

1p ordinary

Sale

1,935

37.1843 GBP

1p ordinary

Sale

3,683

37.2203 GBP

1p ordinary

Sale

5,093

37.2626 GBP

1p ordinary

Sale

7,669

37.3691 GBP

1p ordinary

Sale

21,755

37.2000 GBP

1p ordinary

Sale

32,309

37.1741 GBP

1p ordinary

Sale

65,731

37.3918 GBP

1p ordinary

Sale

70,716

37.1200 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

6

37.2600 GBP

1p ordinary

SWAP

Long

11

37.1945 GBP

1p ordinary

SWAP

Long

15

37.1784 GBP

1p ordinary

SWAP

Long

67

37.1684 GBP

1p ordinary

CFD

Long

91

37.2167 GBP

1p ordinary

CFD

Long

366

37.1200 GBP

1p ordinary

SWAP

Long

1,500

37.3762 GBP

1p ordinary

CFD

Long

1,935

37.1843 GBP

1p ordinary

SWAP

Long

2,789

37.2483 GBP

1p ordinary

SWAP

Long

6,043

37.2864 GBP

1p ordinary

SWAP

Long

12,145

37.4929 GBP

1p ordinary

SWAP

Long

26,818

37.3981 GBP

1p ordinary

SWAP

Long

31,545

37.3619 GBP

1p ordinary

SWAP

Long

32,309

37.1741 GBP

1p ordinary

SWAP

Long

39,585

37.1200 GBP

1p ordinary

SWAP

Short

7

37.1407 GBP

1p ordinary

SWAP

Short

287

37.3052 GBP

1p ordinary

SWAP

Short

974

37.3039 GBP

1p ordinary

CFD

Short

1,152

37.5073 GBP

1p ordinary

SWAP

Short

1,229

37.0462 GBP

1p ordinary

SWAP

Short

1,248

37.2530 GBP

1p ordinary

CFD

Short

1,386

37.5250 GBP

1p ordinary

SWAP

Short

2,298

37.2926 GBP

1p ordinary

SWAP

Short

2,523

37.3222 GBP

1p ordinary

CFD

Short

4,908

37.4666 GBP

1p ordinary

SWAP

Short

5,308

37.2959 GBP

1p ordinary

SWAP

Short

6,000

37.4025 GBP

1p ordinary

SWAP

Short

6,000

37.2849 GBP

1p ordinary

SWAP

Short

8,490

37.2952 GBP

1p ordinary

SWAP

Short

10,000

37.3186 GBP

1p ordinary

SWAP

Short

10,573

37.2881 GBP

1p ordinary

SWAP

Short

11,410

37.1170 GBP

1p ordinary

CFD

Short

24,126

37.1200 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:

11 May 2023

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213