Form 8.5 (EPT/NON-RI) - Biffa 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

BIFFA PLC

relevant securities this form relates:

(c)

Name of the party to the offer with which exempt

Energy Capital Partners, LLC

principal trader is connected

(d)

Date position held/dealing undertaken:

28 September 2022

(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:

1p ordinary

Interests

Short Positions

Number

(%)

Number

(%)

(1)

Relevant securities owned

and/or controlled:

15,209,850

4.97%

3,986,289

1.30%

(2)

Cash-settled derivatives:

3,563,479

1.16%

15,169,416

4.96%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

18,773,329

6.13%

19,155,705

6.26%

(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

1p ordinary

Purchase

3,081,869

4.1000 GBP

4.0631 GBP

1p ordinary

Sale

3,195,416

4.1000 GBP

4.0631 GBP

(b)

Cash-settled derivative transactions

Class of

Product

Nature of dealing

Number of

Price per

relevant

description

reference

unit

security

securities

1p ordinary

 SWAP

Decreasing Long

576

4.0840 GBP

1p ordinary

 SWAP

Decreasing Long

3,096

4.0731 GBP

1p ordinary

 SWAP

Decreasing Long

12,797

4.0806 GBP

1p ordinary

 SWAP

Decreasing Long

22,745

4.0757 GBP

1p ordinary

 SWAP

Decreasing Long

25,954

4.0756 GBP

1p ordinary

 SWAP

Decreasing Long

26,226

4.0820 GBP

1p ordinary

 SWAP

Decreasing Long

28,235

4.0785 GBP

1p ordinary

 SWAP

Decreasing Long

28,859

4.0791 GBP

1p ordinary

 SWAP

Decreasing Long

29,500

4.0762 GBP

1p ordinary

 SWAP

Decreasing Long

32,348

4.0786 GBP

1p ordinary

 SWAP

Decreasing Long

56,131

4.0843 GBP

1p ordinary

 SWAP

Decreasing Long

77,675

4.0853 GBP

1p ordinary

 SWAP

Decreasing Long

101,881

4.0809 GBP

1p ordinary

 SWAP

Decreasing Long

216,941

4.0727 GBP

1p ordinary

 SWAP

Decreasing Long

233,502

4.0706 GBP

1p ordinary

 SWAP

Decreasing Long

236,250

4.0782 GBP

1p ordinary

 SWAP

Decreasing Short

112

4.0737 GBP

1p ordinary

 SWAP

Decreasing Short

1,661

4.0723 GBP

1p ordinary

 SWAP

Decreasing Short

10,543

4.0695 GBP

1p ordinary

 SWAP

Decreasing Short

24,475

4.0696 GBP

1p ordinary

 SWAP

Decreasing Short

39,382

4.0738 GBP

1p ordinary

 SWAP

Decreasing Short

349,044

4.0735 GBP

1p ordinary

 SWAP

Decreasing Short

357,014

4.0684 GBP

1p ordinary

 SWAP

Increasing Long

4,598

4.0722 GBP

1p ordinary

 SWAP

Increasing Long

18,467

4.0759 GBP

1p ordinary

 SWAP

Increasing Long

34,277

4.0995 GBP

1p ordinary

 SWAP

Increasing Long

47,118

4.0922 GBP

1p ordinary

 SWAP

Increasing Long

95,480

4.1000 GBP

1p ordinary

 SWAP

Increasing Long

100,000

4.0720 GBP

1p ordinary

 SWAP

Increasing Long

101,881

4.0809 GBP

1p ordinary

 SWAP

Increasing Long

105,432

4.0874 GBP

1p ordinary

 CFD

Increasing Short

903

4.0753 GBP

1p ordinary

 CFD

Increasing Short

2,996

4.0892 GBP

1p ordinary

 CFD

Increasing Short

3,079

4.0681 GBP

1p ordinary

 CFD

Increasing Short

8,629

4.0891 GBP

1p ordinary

 CFD

Increasing Short

22,059

4.0720 GBP

1p ordinary

 CFD

Increasing Short

52,828

4.0641 GBP

1p ordinary

 CFD

Increasing Short

241,643

4.0713 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 Sep 2022

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213