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:

28 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:

7,168,563

1.20%

4,903,356

0.82%

(2)

Cash-settled derivatives:

and/or controlled:

450,278

0.08%

5,728,124

0.96%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

7,618,841

1.27%

10,631,480

1.77%

(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

1,036,733

11.4400 GBP

11.3100 GBP

5p ordinary

Sale

567,338

11.4300 GBP

11.1311 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

Increasing Short

5,241

11.3626 GBP

5p ordinary

SWAP

Increasing Short

2,192

11.3627 GBP

5p ordinary

SWAP

Decreasing Short

2,853

11.3063 GBP

5p ordinary

SWAP

Decreasing Short

38

11.3100 GBP

5p ordinary

SWAP

Decreasing Short

97

11.3290 GBP

5p ordinary

SWAP

Decreasing Short

29,654

11.3300 GBP

5p ordinary

SWAP

Decreasing Short

17,812

11.3351 GBP

5p ordinary

SWAP

Decreasing Short

2,014

11.3577 GBP

5p ordinary

SWAP

Decreasing Short

3,884

11.3598 GBP

5p ordinary

SWAP

Decreasing Short

642

11.3697 GBP

5p ordinary

SWAP

Decreasing Short

22,514

11.3773 GBP

5p ordinary

SWAP

Decreasing Short

2,440

11.3853 GBP

5p ordinary

SWAP

Decreasing Short

25,046

11.3974 GBP

5p ordinary

SWAP

Decreasing Short

15,437

11.3997 GBP

5p ordinary

SWAP

Increasing Short

15,000

11.3236 GBP

5p ordinary

SWAP

Increasing Short

340,253

11.3300 GBP

5p ordinary

SWAP

Increasing Short

7,669

11.3306 GBP

5p ordinary

SWAP

Increasing Short

20,000

11.3311 GBP

5p ordinary

SWAP

Increasing Short

65,179

11.3343 GBP

5p ordinary

SWAP

Increasing Short

5,641

11.3374 GBP

5p ordinary

SWAP

Increasing Short

27,737

11.3384 GBP

5p ordinary

SWAP

Increasing Short

6,920

11.3402 GBP

5p ordinary

SWAP

Increasing Short

1,406

11.3422 GBP

5p ordinary

SWAP

Increasing Short

19,405

11.3567 GBP

5p ordinary

SWAP

Increasing Short

4,685

11.3588 GBP

5p ordinary

SWAP

Increasing Short

1,406

11.3622 GBP

5p ordinary

SWAP

Increasing Short

8,574

11.3631 GBP

5p ordinary

SWAP

Increasing Short

28,903

11.3651 GBP

5p ordinary

SWAP

Increasing Short

1,662

11.3661 USD

5p ordinary

SWAP

Increasing Short

79,360

11.3670 GBP

5p ordinary

SWAP

Increasing Short

795

11.3678 GBP

5p ordinary

SWAP

Increasing Short

926

11.3702 GBP

5p ordinary

SWAP

Increasing Short

256

11.3800 GBP

5p ordinary

SWAP

Increasing Short

258

11.3850 GBP

5p ordinary

SWAP

Increasing Short

88,550

11.3868 GBP

5p ordinary

SWAP

Increasing Short

1,519

11.4107 GBP

5p ordinary

SWAP

Increasing Short

12,753

11.4132 GBP

5p ordinary

CFD

Decreasing Short

49,971

11.3320 GBP

5p ordinary

CFD

Decreasing Short

54,922

11.3974 GBP

5p ordinary

CFD

Decreasing Short

7,487

11.4078 GBP

5p ordinary

CFD

Increasing Short

11,237

11.4038 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:

29 Jan 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213