Ricardo Plc Regulatory News (RCDO)

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 relevant securities this form relates:

RICARDO PLC

(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:

02 Oct 2025

(f)

In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?

NO

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:

25p ordinary

Interests

Short Positions

Number

(%)

Number

(%)

(1) Relevant securities owned and/or controlled:

1,256,013

2.02%

83,467

0.13%

(2) Cash-settled derivatives:

83,467

0.13%

1,256,013

2.02%

(3) Stock-settled derivatives (including options) and agreements to purchase/sell: 

0

0.00%

0

0.00%

TOTAL: 

1,339,480

2.15%

1,339,480

2.15%

(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 PERSON MAKING THE DISCLOSURE

(a)

Purchase and sales

Class of relevant security

Purchase/sale

Number of securities

Price per unit

25p ordinary

Purchase

6,773

4.2900 GBP

25p ordinary

Purchase

2,446

4.2904 GBP

25p ordinary

Sale

22,000

4.2978 GBP

25p ordinary

Sale

5,495

4.2900 GBP

25p ordinary

Sale

434

4.2909 GBP

(b)

Cash-settled derivative transactions

Class of relevant security

Product description

Nature of dealing

Number of reference securities

Price per unit

25p ordinary

SWAP

Decreasing Short

22,000

4.2978 GBP

25p ordinary

SWAP

Increasing Short

664

4.2900 GBP

25p ordinary

SWAP

Increasing Short

2,446

4.2904 GBP

25p ordinary

CFD

Increasing Short

180

4.2900 GBP

(c)

Stock-settled derivative transactions (including options)

(i)

Writing, selling, purchasing or varying

Class of relevant security

Product description

Writing, purchasing, selling, varying etc

Number of securities to which option relates

Exercise price per unit

Type

Expiry date

Option money paid/ received per unit

(ii)

Exercise

Class of relevant security

Product description

Exercising/ exercised against

Number of securities

Exercise price per unit

(d)

Other dealings (including subscribing for new securities)

Class of relevant security

Nature of Dealings

Details

Price per unit (if 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 person 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:

03 Oct 2025

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213