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:

23 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:

12,130,628

2.02%

4,612,023

0.77%

(2)

Cash-settled derivatives:

and/or controlled:

181,030

0.03%

10,553,413

1.76%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

12,311,658

2.05%

15,165,436

2.53%

(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

1,239,402

12.2500 GBP

12.1600 GBP

5p ordinary

Sale

1,013,969

12.2500 GBP

12.1600 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

3,104

12.1700 GBP

5p ordinary

SWAP

Decreasing Short

27,671

12.1724 GBP

5p ordinary

SWAP

Decreasing Short

6,757

12.1846 GBP

5p ordinary

SWAP

Decreasing Short

512

12.1898 GBP

5p ordinary

SWAP

Decreasing Short

631

12.2048 GBP

5p ordinary

SWAP

Decreasing Short

22,168

12.2077 GBP

5p ordinary

SWAP

Decreasing Short

1,625

12.2187 GBP

5p ordinary

SWAP

Decreasing Short

1,519

12.2194 GBP

5p ordinary

SWAP

Decreasing Short

3,097

12.2196 GBP

5p ordinary

SWAP

Decreasing Short

140

12.2200 GBP

5p ordinary

SWAP

Decreasing Short

754

12.2438 GBP

5p ordinary

SWAP

Increasing Short

74,495

12.1700 GBP

5p ordinary

SWAP

Increasing Short

29,733

12.1701 GBP

5p ordinary

SWAP

Increasing Short

6

12.1709 GBP

5p ordinary

SWAP

Increasing Short

39,618

12.1736 GBP

5p ordinary

SWAP

Increasing Short

11,021

12.1848 GBP

5p ordinary

SWAP

Increasing Short

12,500

12.2004 GBP

5p ordinary

SWAP

Increasing Short

52,459

12.2050 GBP

5p ordinary

SWAP

Increasing Short

6,250

12.2073 GBP

5p ordinary

SWAP

Increasing Short

255

12.2103 GBP

5p ordinary

SWAP

Increasing Short

2,100

12.2124 GBP

5p ordinary

SWAP

Increasing Short

12,422

12.2195 GBP

5p ordinary

SWAP

Increasing Short

87,025

12.2199 GBP

5p ordinary

SWAP

Increasing Short

1

12.2210 GBP

5p ordinary

SWAP

Increasing Short

10,576

12.2221 GBP

5p ordinary

SWAP

Increasing Short

911

12.2238 GBP

5p ordinary

SWAP

Increasing Short

898

12.2249 GBP

5p ordinary

SWAP

Increasing Short

1,435

12.2346 GBP

5p ordinary

SWAP

Increasing Short

1,461

12.2487 GBP

5p ordinary

CFD

Decreasing Short

5,541

12.1696 GBP

5p ordinary

CFD

Decreasing Short

50,289

12.1700 GBP

5p ordinary

CFD

Decreasing Short

16,587

12.2014 GBP

5p ordinary

CFD

Increasing Short

17,070

12.1868 GBP

5p ordinary

CFD

Increasing Short

1,008

12.1908 GBP

5p ordinary

CFD

Increasing Short

4,490

12.2391 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:

24 Feb 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213