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:

24 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:

12,382,725

2.07%

4,614,323

0.77%

(2)

Cash-settled derivatives:

and/or controlled:

180,480

0.03%

10,817,934

1.80%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

12,563,205

2.10%

15,432,257

2.57%

(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

729,905

12.2800 GBP

12.1800 GBP

5p ordinary

Sale

480,108

12.2807 GBP

12.1800 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

2,683

12.1900 GBP

5p ordinary

SWAP

Decreasing Short

8,533

12.1990 GBP

5p ordinary

SWAP

Decreasing Short

1,084

12.1995 GBP

5p ordinary

SWAP

Decreasing Short

294

12.2000 GBP

5p ordinary

SWAP

Decreasing Short

4,838

12.2058 GBP

5p ordinary

SWAP

Decreasing Short

25,607

12.2085 GBP

5p ordinary

SWAP

Decreasing Short

4,994

12.2107 GBP

5p ordinary

SWAP

Decreasing Short

8,090

12.2133 GBP

5p ordinary

SWAP

Decreasing Short

123

12.2396 GBP

5p ordinary

SWAP

Decreasing Short

68

12.2397 GBP

5p ordinary

SWAP

Decreasing Short

12

12.2400 GBP

5p ordinary

SWAP

Decreasing Short

5,800

12.2441 GBP

5p ordinary

SWAP

Decreasing Short

3,000

12.2487 GBP

5p ordinary

SWAP

Decreasing Short

19,275

12.2601 GBP

5p ordinary

SWAP

Decreasing Short

18

12.2790 GBP

5p ordinary

SWAP

Decreasing Short

12,137

12.2800 GBP

5p ordinary

SWAP

Increasing Short

1,899

12.1873 GBP

5p ordinary

SWAP

Increasing Short

50,643

12.2056 GBP

5p ordinary

SWAP

Increasing Short

568

12.2089 GBP

5p ordinary

SWAP

Increasing Short

2,905

12.2184 GBP

5p ordinary

SWAP

Increasing Short

1,742

12.2205 GBP

5p ordinary

SWAP

Increasing Short

2,352

12.2315 GBP

5p ordinary

SWAP

Increasing Short

1,653

12.2362 GBP

5p ordinary

SWAP

Increasing Short

37,635

12.2373 GBP

5p ordinary

SWAP

Increasing Short

62,755

12.2586 GBP

5p ordinary

SWAP

Increasing Short

16,747

12.2596 GBP

5p ordinary

SWAP

Increasing Short

1,893

12.2600 GBP

5p ordinary

SWAP

Increasing Short

3,958

12.2629 GBP

5p ordinary

SWAP

Increasing Short

74,081

12.2676 GBP

5p ordinary

SWAP

Increasing Short

18,049

12.2678 GBP

5p ordinary

SWAP

Increasing Short

264

12.2700 GBP

5p ordinary

SWAP

Increasing Short

66,482

12.2716 GBP

5p ordinary

SWAP

Increasing Short

12,310

12.2800 GBP

5p ordinary

CFD

Decreasing Short

22,281

12.2105 GBP

5p ordinary

CFD

Increasing Short

6,403

12.2267 GBP

5p ordinary

CFD

Increasing Short

1,426

12.2303 GBP

5p ordinary

CFD

Increasing Short

20,143

12.2490 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:

25 Feb 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213