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:

26 Jan 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:

6,423,364

1.07%

5,524,815

0.92%

(2)

Cash-settled derivatives:

and/or controlled:

1,071,265

0.18%

4,930,757

0.82%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

7,494,629

1.25%

10,455,572

1.74%

(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

608,861

11.7017 GBP

11.3200 GBP

5p ordinary

Sale

1,026,790

11.7000 GBP

11.3200 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

22

11.3990 GBP

5p ordinary

SWAP

Decreasing Short

4

11.3996 GBP

5p ordinary

SWAP

Decreasing Short

17,158

11.4000 GBP

5p ordinary

SWAP

Decreasing Short

1,108

11.4039 GBP

5p ordinary

SWAP

Decreasing Short

29

11.4149 GBP

5p ordinary

SWAP

Decreasing Short

191,201

11.4201 GBP

5p ordinary

SWAP

Decreasing Short

2

11.4202 GBP

5p ordinary

SWAP

Decreasing Short

2,331

11.4283 GBP

5p ordinary

SWAP

Decreasing Short

23,403

11.4308 GBP

5p ordinary

SWAP

Decreasing Short

115

11.4377 GBP

5p ordinary

SWAP

Decreasing Short

1,084

11.4497 GBP

5p ordinary

SWAP

Decreasing Short

8,343

11.4681 GBP

5p ordinary

SWAP

Decreasing Short

2,557

11.4979 GBP

5p ordinary

SWAP

Decreasing Short

14,869

11.5002 GBP

5p ordinary

SWAP

Decreasing Short

832

11.5019 GBP

5p ordinary

SWAP

Decreasing Short

493

11.5022 GBP

5p ordinary

SWAP

Decreasing Short

17,208

11.5184 GBP

5p ordinary

SWAP

Decreasing Short

3,638

11.5349 GBP

5p ordinary

SWAP

Decreasing Short

68,392

11.5381 GBP

5p ordinary

SWAP

Decreasing Short

30,707

11.5441 GBP

5p ordinary

SWAP

Decreasing Short

1,633

11.5598 GBP

5p ordinary

SWAP

Decreasing Short

24,067

11.5609 GBP

5p ordinary

SWAP

Decreasing Short

2

11.5700 GBP

5p ordinary

SWAP

Decreasing Short

50,000

11.5840 GBP

5p ordinary

SWAP

Decreasing Short

11,500

11.5940 GBP

5p ordinary

SWAP

Decreasing Short

505

11.6037 GBP

5p ordinary

SWAP

Decreasing Short

339

11.6290 GBP

5p ordinary

SWAP

Increasing Short

16,853

11.3574 GBP

5p ordinary

SWAP

Increasing Short

75,319

11.4000 GBP

5p ordinary

SWAP

Increasing Short

17,158

11.4001 GBP

5p ordinary

SWAP

Increasing Short

11,000

11.4002 GBP

5p ordinary

SWAP

Increasing Short

582

11.4011 GBP

5p ordinary

SWAP

Increasing Short

1,406

11.4027 GBP

5p ordinary

SWAP

Increasing Short

15,205

11.4100 GBP

5p ordinary

SWAP

Increasing Short

20,913

11.4116 GBP

5p ordinary

SWAP

Increasing Short

47,792

11.4119 GBP

5p ordinary

SWAP

Increasing Short

2,545

11.4124 GBP

5p ordinary

SWAP

Increasing Short

444

11.4201 GBP

5p ordinary

SWAP

Increasing Short

264

11.4267 GBP

5p ordinary

SWAP

Increasing Short

547

11.4293 GBP

5p ordinary

SWAP

Increasing Short

36,612

11.4306 GBP

5p ordinary

SWAP

Increasing Short

282

11.4338 GBP

5p ordinary

SWAP

Increasing Short

2,703

11.4400 GBP

5p ordinary

SWAP

Increasing Short

721

11.4807 GBP

5p ordinary

SWAP

Increasing Short

1,406

11.4822 GBP

5p ordinary

SWAP

Increasing Short

333

11.4854 GBP

5p ordinary

SWAP

Increasing Short

124

11.4925 GBP

5p ordinary

SWAP

Increasing Short

208

11.5261 GBP

5p ordinary

SWAP

Increasing Short

10,000

11.5331 GBP

5p ordinary

SWAP

Increasing Short

98

11.5346 GBP

5p ordinary

SWAP

Increasing Short

221

11.5506 GBP

5p ordinary

SWAP

Increasing Short

3,151

11.5600 GBP

5p ordinary

SWAP

Increasing Short

12,034

11.5638 GBP

5p ordinary

SWAP

Increasing Short

1,406

11.5723 GBP

5p ordinary

SWAP

Increasing Short

31,280

11.7017 GBP

5p ordinary

CFD

Decreasing Short

3,870

11.3861 GBP

5p ordinary

CFD

Decreasing Short

631

11.3990 GBP

5p ordinary

CFD

Decreasing Short

9,561

11.4000 GBP

5p ordinary

CFD

Decreasing Short

217,823

11.4001 GBP

5p ordinary

CFD

Decreasing Short

1,394

11.4189 GBP

5p ordinary

CFD

Decreasing Short

18,663

11.4400 GBP

5p ordinary

CFD

Decreasing Short

460

11.4876 GBP

5p ordinary

CFD

Increasing Short

38,388

11.4000 GBP

5p ordinary

CFD

Increasing Short

7,561

11.5651 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:

27 Jan 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213