Form 8.5 (EPT/NON-RI) BELLWAY 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

BELLWAY PLC

relevant securities this form relates:

(c)

Name of the party to the offer with which exempt

CREST NICHOLSON HOLDINGS PLC

principal trader is connected

(d)

Date position held/dealing undertaken:

31 Jul 2024

(e)

In addition to the company in 1(b) above, is the exempt principal

YES:

trader making disclosures in respect of any other party to the offer?

CREST NICHOLSON HOLDINGS PLC

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:

12.5p ordinary

Interests

Short Positions

Number

(%)

Number

(%)

(1)

Relevant securities owned

and/or controlled:

1,103,810

0.93%

190,400

0.16%

(2)

Cash-settled derivatives:

and/or controlled:

150,575

0.13%

985,538

0.83%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

1,254,385

1.05%

1,175,938

0.99%

(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

12.5p ordinary

Purchase

53,340

28.8400 GBP

28.5120 GBP

12.5p ordinary

Sale

35,540

28.9800 GBP

28.4677 GBP

(b)

Cash-settled derivative transactions

Class of

Product

Nature of dealing

Number of

Price per

relevant

description

reference

unit

security

securities

12.5p ordinary

CFD

Decreasing Short

17

28.4676 GBP

12.5p ordinary

CFD

Decreasing Short

1,684

28.6574 GBP

12.5p ordinary

CFD

Decreasing Short

5,908

28.6600 GBP

12.5p ordinary

CFD

Decreasing Short

54

28.7990 GBP

12.5p ordinary

CFD

Increasing Short

71

28.5025 GBP

12.5p ordinary

CFD

Increasing Short

320

28.6212 GBP

12.5p ordinary

CFD

Increasing Short

178

28.6402 GBP

12.5p ordinary

CFD

Increasing Short

5,925

28.7387 GBP

12.5p ordinary

CFD

Increasing Short

70

28.7804 GBP

12.5p ordinary

SWAP

Decreasing Short

360

28.6861 GBP

12.5p ordinary

SWAP

Increasing Short

98

28.7910 GBP

12.5p ordinary

SWAP

Opening Long

61

28.6049 GBP

12.5p ordinary

SWAP

Decreasing Long

1

28.5400 GBP

12.5p ordinary

SWAP

Closing Long

37

28.6600 GBP

12.5p ordinary

SWAP

Increasing Long

1

28.5200 GBP

12.5p ordinary

SWAP

Increasing Long

850

28.6410 GBP

12.5p ordinary

SWAP

Decreasing Long

40

28.5720 GBP

12.5p ordinary

SWAP

Decreasing Long

441

28.6484 GBP

12.5p ordinary

SWAP

Decreasing Short

681

28.6600 GBP

12.5p ordinary

SWAP

Decreasing Short

233

28.7537 GBP

12.5p ordinary

SWAP

Decreasing Short

104

28.8469 GBP

12.5p ordinary

SWAP

Increasing Short

77

28.6161 GBP

12.5p ordinary

SWAP

Increasing Short

1,019

28.6442 GBP

12.5p ordinary

SWAP

Increasing Short

1,548

28.6600 GBP

12.5p ordinary

SWAP

Increasing Short

4,967

28.6606 GBP

12.5p ordinary

SWAP

Increasing Short

25

28.7000 GBP

12.5p ordinary

SWAP

Increasing Short

206

28.7403 GBP

12.5p ordinary

SWAP

Increasing Long

29

28.5197 GBP

12.5p ordinary

SWAP

Increasing Long

881

28.6494 GBP

12.5p ordinary

SWAP

Increasing Long

9,785

28.6597 GBP

12.5p ordinary

SWAP

Increasing Long

1,478

28.7581 GBP

12.5p ordinary

SWAP

Decreasing Long

26

28.5127 GBP

12.5p ordinary

SWAP

Decreasing Long

147

28.5202 GBP

12.5p ordinary

SWAP

Decreasing Long

436

28.5383 GBP

12.5p ordinary

SWAP

Decreasing Long

175

28.5780 GBP

12.5p ordinary

SWAP

Decreasing Long

265

28.6216 GBP

12.5p ordinary

SWAP

Decreasing Long

75

28.6292 GBP

12.5p ordinary

SWAP

Decreasing Long

255

28.6355 GBP

12.5p ordinary

SWAP

Decreasing Short

80

28.6429 GBP

12.5p ordinary

SWAP

Decreasing Long

819

28.5120 GBP

12.5p ordinary

SWAP

Decreasing Long

10,343

28.6555 GBP

12.5p ordinary

SWAP

Decreasing Long

430

28.6605 GBP

12.5p ordinary

SWAP

Decreasing Short

8

28.7175 GBP

12.5p ordinary

SWAP

Increasing Short

35

28.6422 GBP

12.5p ordinary

SWAP

Decreasing Short

1

28.6000 GBP

12.5p ordinary

SWAP

Decreasing Short

1,048

28.6600 GBP

12.5p ordinary

SWAP

Decreasing Short

194

28.7276 GBP

12.5p ordinary

SWAP

Decreasing Short

237

28.7647 GBP

12.5p ordinary

SWAP

Increasing Short

1,830

28.5822 GBP

12.5p ordinary

SWAP

Increasing Short

653

28.6496 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:

01 Aug 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213