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:

27 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:

6,719,500

1.12%

4,923,688

0.82%

(2)

Cash-settled derivatives:

and/or controlled:

470,610

0.08%

5,225,740

0.87%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

7,190,110

1.20%

10,149,428

1.69%

(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

1,759,175

11.4100 GBP

11.1550 GBP

5p ordinary

Sale

861,912

11.5636 GBP

11.1550 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

73,640

11.2643 GBP

5p ordinary

SWAP

Increasing Short

6,938

11.2892 GBP

5p ordinary

SWAP

Decreasing Short

118

11.2702 GBP

5p ordinary

SWAP

Decreasing Short

51,359

11.2775 GBP

5p ordinary

SWAP

Decreasing Short

1,116

11.2878 GBP

5p ordinary

SWAP

Decreasing Short

656

11.2879 GBP

5p ordinary

SWAP

Decreasing Short

280

11.2911 GBP

5p ordinary

SWAP

Decreasing Short

540

11.2972 GBP

5p ordinary

SWAP

Decreasing Short

22,735

11.3000 GBP

5p ordinary

SWAP

Decreasing Short

25

11.3038 GBP

5p ordinary

SWAP

Decreasing Short

314

11.3200 GBP

5p ordinary

SWAP

Decreasing Short

13,767

11.3267 GBP

5p ordinary

SWAP

Decreasing Short

105,506

11.3400 GBP

5p ordinary

SWAP

Decreasing Short

346

11.3470 GBP

5p ordinary

SWAP

Decreasing Short

896

11.3510 GBP

5p ordinary

SWAP

Decreasing Short

24,068

11.5636 GBP

5p ordinary

SWAP

Increasing Short

1,384

11.1710 GBP

5p ordinary

SWAP

Increasing Short

1,450

11.2314 GBP

5p ordinary

SWAP

Increasing Short

1,406

11.2322 GBP

5p ordinary

SWAP

Increasing Short

2,195

11.2416 GBP

5p ordinary

SWAP

Increasing Short

2,905

11.2546 GBP

5p ordinary

SWAP

Increasing Short

11,909

11.2588 GBP

5p ordinary

SWAP

Increasing Short

3,786

11.2603 GBP

5p ordinary

SWAP

Increasing Short

1,407

11.2622 GBP

5p ordinary

SWAP

Increasing Short

9,148

11.2672 GBP

5p ordinary

SWAP

Increasing Short

54,975

11.2701 GBP

5p ordinary

SWAP

Increasing Short

843

11.2703 GBP

5p ordinary

SWAP

Increasing Short

23,296

11.2721 GBP

5p ordinary

SWAP

Increasing Short

725

11.2815 GBP

5p ordinary

SWAP

Increasing Short

15,509

11.2823 GBP

5p ordinary

SWAP

Increasing Short

175

11.2987 GBP

5p ordinary

SWAP

Increasing Short

452,862

11.3000 GBP

5p ordinary

SWAP

Increasing Short

82,410

11.3005 GBP

5p ordinary

SWAP

Increasing Short

7,352

11.3026 GBP

5p ordinary

SWAP

Increasing Short

33,833

11.3062 GBP

5p ordinary

SWAP

Increasing Short

62,323

11.3075 GBP

5p ordinary

SWAP

Increasing Short

1,153

11.3084 GBP

5p ordinary

SWAP

Increasing Short

988

11.3092 GBP

5p ordinary

SWAP

Increasing Short

129

11.3100 GBP

5p ordinary

SWAP

Increasing Short

12,521

11.3101 GBP

5p ordinary

SWAP

Increasing Short

21,303

11.3130 GBP

5p ordinary

SWAP

Increasing Short

2,813

11.3138 GBP

5p ordinary

SWAP

Increasing Short

327

11.3200 GBP

5p ordinary

SWAP

Increasing Short

1,407

11.3247 GBP

5p ordinary

SWAP

Increasing Short

12,200

11.3251 GBP

5p ordinary

SWAP

Increasing Short

1,110

11.3282 GBP

5p ordinary

SWAP

Increasing Short

8,400

11.3327 GBP

5p ordinary

SWAP

Increasing Short

34,551

11.3371 GBP

5p ordinary

SWAP

Increasing Short

280,201

11.3400 GBP

5p ordinary

SWAP

Increasing Short

8,226

11.3406 GBP

5p ordinary

SWAP

Increasing Short

33,147

11.3568 GBP

5p ordinary

SWAP

Increasing Short

7,470

11.3800 GBP

5p ordinary

SWAP

Increasing Short

1,406

11.3822 GBP

5p ordinary

CFD

Decreasing Short

5,590

11.2496 GBP

5p ordinary

CFD

Decreasing Short

7,589

11.2851 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:

28 Jan 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213