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 Mar 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:

14,288,484

2.38%

3,756,192

0.63%

(2)

Cash-settled derivatives:

and/or controlled:

366,006

0.06%

13,557,616

2.26%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

14,654,490

2.44%

17,313,808

2.89%

(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

1,654,451

12.6700 GBP

12.6500 GBP

5p ordinary

Sale

293,946

12.6700 GBP

12.6500 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

500,000

12.6563 GBP

5p ordinary

SWAP

Increasing Short

28,945

12.6608 GBP

5p ordinary

SWAP

Decreasing Short

5,798

12.6500 GBP

5p ordinary

SWAP

Decreasing Short

2,532

12.6511 GBP

5p ordinary

SWAP

Decreasing Short

11,829

12.6577 GBP

5p ordinary

SWAP

Decreasing Short

61

12.6589 GBP

5p ordinary

SWAP

Decreasing Short

2,300

12.6591 GBP

5p ordinary

SWAP

Decreasing Short

13,461

12.6593 GBP

5p ordinary

SWAP

Decreasing Short

900

12.6598 GBP

5p ordinary

SWAP

Decreasing Short

21,002

12.6600 GBP

5p ordinary

SWAP

Decreasing Short

238

12.6604 GBP

5p ordinary

SWAP

Increasing Short

5,364

12.6563 GBP

5p ordinary

SWAP

Increasing Short

6,698

12.6570 GBP

5p ordinary

SWAP

Increasing Short

128,751

12.6591 GBP

5p ordinary

SWAP

Increasing Short

11,074

12.6598 GBP

5p ordinary

SWAP

Increasing Short

96,472

12.6600 GBP

5p ordinary

SWAP

Increasing Short

78,498

12.6604 GBP

5p ordinary

SWAP

Increasing Short

48,096

12.6610 GBP

5p ordinary

SWAP

Increasing Short

3,026

12.6620 GBP

5p ordinary

SWAP

Increasing Short

400,804

12.6623 GBP

5p ordinary

SWAP

Increasing Short

25,521

12.6659 GBP

5p ordinary

SWAP

Increasing Short

24,474

12.6664 GBP

5p ordinary

CFD

Decreasing Short

12,436

12.6590 GBP

5p ordinary

CFD

Decreasing Short

1,436

12.6591 GBP

5p ordinary

CFD

Increasing Short

17,718

12.6600 GBP

5p ordinary

CFD

Increasing Short

9,341

12.6608 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 Mar 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213