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:

05 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:

840,474

0.74%

917,030

0.81%

(2)

Cash-settled derivatives:

and/or controlled:

842,350

0.74%

749,647

0.66%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

1,682,824

1.48%

1,666,677

1.46%

(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

42

36.9852 GBP

1p ordinary

Purchase

75

36.9600 GBP

1p ordinary

Purchase

77

37.1600 GBP

1p ordinary

Purchase

125

36.9723 GBP

1p ordinary

Purchase

158

36.9589 GBP

1p ordinary

Purchase

159

37.0013 GBP

1p ordinary

Purchase

170

36.9696 GBP

1p ordinary

Purchase

176

37.0114 GBP

1p ordinary

Purchase

188

36.9500 GBP

1p ordinary

Purchase

195

36.9882 GBP

1p ordinary

Purchase

236

36.9667 GBP

1p ordinary

Purchase

380

36.9773 GBP

1p ordinary

Purchase

392

36.9800 GBP

1p ordinary

Purchase

498

37.0113 GBP

1p ordinary

Purchase

582

37.0031 GBP

1p ordinary

Purchase

606

37.0240 GBP

1p ordinary

Purchase

635

37.0061 GBP

1p ordinary

Purchase

724

36.9825 GBP

1p ordinary

Purchase

750

36.9917 GBP

1p ordinary

Purchase

811

37.0036 GBP

1p ordinary

Purchase

827

37.0000 GBP

1p ordinary

Purchase

1,192

37.0058 GBP

1p ordinary

Purchase

1,966

36.9934 GBP

1p ordinary

Purchase

2,576

36.9953 GBP

1p ordinary

Purchase

2,807

36.9904 GBP

1p ordinary

Purchase

5,117

37.0059 GBP

1p ordinary

Purchase

6,324

36.9000 GBP

1p ordinary

Purchase

6,455

36.8981 GBP

1p ordinary

Purchase

10,478

37.1499 GBP

1p ordinary

Purchase

20,000

37.0259 GBP

1p ordinary

Purchase

25,744

36.9449 GBP

1p ordinary

Purchase

38,855

36.9371 GBP

1p ordinary

Purchase

80,343

36.9540 GBP

1p ordinary

Sale

66

36.9736 GBP

1p ordinary

Sale

75

36.9600 GBP

1p ordinary

Sale

139

37.0300 GBP

1p ordinary

Sale

150

36.9805 GBP

1p ordinary

Sale

296

37.0837 GBP

1p ordinary

Sale

308

36.9811 GBP

1p ordinary

Sale

312

36.9800 GBP

1p ordinary

Sale

335

36.9400 GBP

1p ordinary

Sale

351

36.8926 GBP

1p ordinary

Sale

353

36.9954 GBP

1p ordinary

Sale

395

37.0400 GBP

1p ordinary

Sale

530

36.9870 GBP

1p ordinary

Sale

539

37.1000 GBP

1p ordinary

Sale

658

36.9908 GBP

1p ordinary

Sale

822

36.9904 GBP

1p ordinary

Sale

921

36.9839 GBP

1p ordinary

Sale

2,158

36.9900 GBP

1p ordinary

Sale

3,724

36.9921 GBP

1p ordinary

Sale

4,164

36.9995 GBP

1p ordinary

Sale

9,580

36.9662 GBP

1p ordinary

Sale

10,664

37.1545 GBP

1p ordinary

Sale

15,204

36.9110 GBP

1p ordinary

Sale

15,857

37.0000 GBP

1p ordinary

Sale

38,966

36.9000 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

51

36.9000 GBP

1p ordinary

SWAP

Long

66

36.9736 GBP

1p ordinary

SWAP

Long

93

37.0000 GBP

1p ordinary

SWAP

Long

351

36.8926 GBP

1p ordinary

CFD

Long

777

37.0000 GBP

1p ordinary

SWAP

Long

3,724

36.9921 GBP

1p ordinary

SWAP

Long

10,030

36.9733 GBP

1p ordinary

SWAP

Short

1

36.9000 GBP

1p ordinary

SWAP

Short

42

36.9851 GBP

1p ordinary

CFD

Short

43

37.1511 GBP

1p ordinary

CFD

Short

102

36.9584 GBP

1p ordinary

SWAP

Short

159

37.0012 GBP

1p ordinary

SWAP

Short

332

37.0047 GBP

1p ordinary

SWAP

Short

498

37.0112 GBP

1p ordinary

CFD

Short

635

37.0061 GBP

1p ordinary

SWAP

Short

724

36.9825 GBP

1p ordinary

SWAP

Short

1,101

37.0045 GBP

1p ordinary

SWAP

Short

1,459

36.9901 GBP

1p ordinary

CFD

Short

1,854

37.0099 GBP

1p ordinary

SWAP

Short

2,295

37.0099 GBP

1p ordinary

SWAP

Short

3,177

37.0014 GBP

1p ordinary

SWAP

Short

5,433

37.0101 GBP

1p ordinary

CFD

Short

5,696

36.9000 GBP

1p ordinary

SWAP

Short

7,118

36.9997 GBP

1p ordinary

SWAP

Short

20,000

37.0259 GBP

1p ordinary

SWAP

Short

21,140

36.9406 GBP

1p ordinary

SWAP

Short

39,469

36.9510 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:

08 May 2023

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213