Form 8.5 EPT/Non RI BEAZLEY PLC

FORM 8.5 (EPT/NON-RI)

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY AN

EXEMPT PRINCIPAL TRADER WITHOUT RECOGNISED INTERMEDIARY ("RI") STATUS

(OR WHERE RI STATUS IS NOT APPLICABLE)

Rule 8.5 of the Takeover Code (the "Code")

1.

KEY INFORMATION

(a)

Name of exempt principal trader:

BARCLAYS CAPITAL SECURITIES LTD

(b)

Name of offeror/offeree in relation to whose

BEAZLEY PLC

relevant securities this form relates:

(c)

Name of the party to the offer with which exempt

BEAZLEY PLC

principal trader is connected

(d)

Date position held/dealing undertaken:

18 Feb 2026

(e)

In addition to the company in 1(b) above, is the exempt principal

NO

trader making disclosures in respect of any other party to the offer?

2.

POSITIONS OF THE EXEMPT PRINCIPAL TRADER

(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:

5p ordinary

Interests

Short Positions

Number

(%)

Number

(%)

(1)

Relevant securities owned

and/or controlled:

11,057,959

1.84%

4,654,404

0.78%

(2)

Cash-settled derivatives:

and/or controlled:

222,938

0.04%

9,504,702

1.59%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

11,280,897

1.88%

14,159,106

2.36%

(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

Total number of

Highest price per unit

Lowest price per unit

security

securities

paid/received

paid/received

5p ordinary

Purchase

1,240,521

12.1799 GBP

12.0900 GBP

5p ordinary

Sale

805,727

12.1799 GBP

12.0900 GBP

(b)

Cash-settled derivative transactions

Class of

Product

Nature of dealing

Number of

Price per

relevant

description

reference

unit

security

securities

5p ordinary

SWAP

Decreasing Short

326,360

12.1011 GBP

5p ordinary

SWAP

Decreasing Short

109

12.1090 GBP

5p ordinary

SWAP

Decreasing Short

40,433

12.1093 GBP

5p ordinary

SWAP

Decreasing Short

42,415

12.1100 GBP

5p ordinary

SWAP

Decreasing Short

4

12.1123 GBP

5p ordinary

SWAP

Decreasing Short

7,382

12.1143 GBP

5p ordinary

SWAP

Decreasing Short

39,389

12.1175 GBP

5p ordinary

SWAP

Decreasing Short

39,022

12.1196 GBP

5p ordinary

SWAP

Decreasing Short

3,414

12.1280 GBP

5p ordinary

SWAP

Decreasing Short

181

12.1398 GBP

5p ordinary

SWAP

Decreasing Short

6,597

12.1418 GBP

5p ordinary

SWAP

Decreasing Short

278

12.1600 GBP

5p ordinary

SWAP

Decreasing Short

48,166

12.1799 GBP

5p ordinary

SWAP

Increasing Short

59

12.0900 GBP

5p ordinary

SWAP

Increasing Short

232,596

12.1100 GBP

5p ordinary

SWAP

Increasing Short

9

12.1109 GBP

5p ordinary

SWAP

Increasing Short

35,842

12.1113 GBP

5p ordinary

SWAP

Increasing Short

8,631

12.1117 GBP

5p ordinary

SWAP

Increasing Short

24,557

12.1121 GBP

5p ordinary

SWAP

Increasing Short

12,000

12.1125 GBP

5p ordinary

SWAP

Increasing Short

3,142

12.1137 GBP

5p ordinary

SWAP

Increasing Short

35,000

12.1140 GBP

5p ordinary

SWAP

Increasing Short

3,835

12.1152 GBP

5p ordinary

SWAP

Increasing Short

108,044

12.1159 GBP

5p ordinary

SWAP

Increasing Short

10,000

12.1160 GBP

5p ordinary

SWAP

Increasing Short

18,750

12.1205 GBP

5p ordinary

SWAP

Increasing Short

20,240

12.1211 GBP

5p ordinary

SWAP

Increasing Short

22,314

12.1254 GBP

5p ordinary

SWAP

Increasing Short

4,717

12.1272 GBP

5p ordinary

SWAP

Increasing Short

5,000

12.1286 GBP

5p ordinary

SWAP

Increasing Short

88,872

12.1287 GBP

5p ordinary

SWAP

Increasing Short

3,561

12.1298 GBP

5p ordinary

SWAP

Increasing Short

38,605

12.1300 GBP

5p ordinary

SWAP

Increasing Short

32,360

12.1330 GBP

5p ordinary

SWAP

Increasing Short

196,273

12.1340 GBP

5p ordinary

SWAP

Increasing Short

27,334

12.1366 GBP

5p ordinary

SWAP

Increasing Short

1,710

12.1380 GBP

5p ordinary

SWAP

Increasing Short

13,883

12.1400 GBP

5p ordinary

SWAP

Increasing Short

1,312

12.1426 GBP

5p ordinary

SWAP

Increasing Short

7,500

12.1471 GBP

5p ordinary

SWAP

Increasing Short

50,000

12.1495 GBP

5p ordinary

SWAP

Increasing Short

14

12.1500 GBP

5p ordinary

SWAP

Increasing Short

2,396

12.1518 GBP

5p ordinary

SWAP

Increasing Short

1,406

12.1524 GBP

5p ordinary

CFD

Decreasing Short

66,253

12.0996 GBP

5p ordinary

CFD

Decreasing Short

6,410

12.1000 GBP

5p ordinary

CFD

Decreasing Short

8,719

12.1158 GBP

5p ordinary

CFD

Decreasing Short

3,342

12.1161 GBP

5p ordinary

CFD

Increasing Short

1,621

12.1267 GBP

5p ordinary

CFD

Increasing Short

28,883

12.1346 GBP

5p ordinary

CFD

Increasing Short

8,719

12.1489 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 exempt principal trader 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:

19 Feb 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213