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:

08 June 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:

3,692,835

1.21%

1,549,672

0.51%

(2)

Cash-settled derivatives:

1,345,887

0.44%

3,096,607

1.01%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

5,038,722

1.65%

4,646,279

1.52%

(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

628,723

4.1301 GBP

4.107 GBP

1p ordinary

Sale

265,360

4.1280 GBP

4.106 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

89,363

4.1129 GBP

1p ordinary

 SWAP

Decreasing Short

67

4.1119 GBP

1p ordinary

 SWAP

Decreasing Short

595

4.1036 GBP

1p ordinary

 SWAP

Decreasing Short

1,029

4.1218 GBP

1p ordinary

 SWAP

Decreasing Short

6,680

4.1180 GBP

1p ordinary

 SWAP

Decreasing Short

16,944

4.1156 GBP

1p ordinary

 SWAP

Increasing Long

3,205

4.1213 GBP

1p ordinary

 SWAP

Increasing Long

3,516

4.1252 GBP

1p ordinary

 SWAP

Increasing Long

4,528

4.1279 GBP

1p ordinary

 SWAP

Increasing Long

13,398

4.1284 GBP

1p ordinary

 SWAP

Increasing Long

14,738

4.1090 GBP

1p ordinary

 SWAP

Increasing Long

24,586

4.1149 GBP

1p ordinary

 SWAP

Increasing Long

28,817

4.1006 GBP

1p ordinary

 SWAP

Increasing Short

1

4.1125 GBP

1p ordinary

 SWAP

Increasing Short

8

4.1186 GBP

1p ordinary

 SWAP

Increasing Short

18

4.1100 GBP

1p ordinary

 SWAP

Increasing Short

57

4.1211 GBP

1p ordinary

 CFD

Increasing Short

487

4.1201 GBP

1p ordinary

 CFD

Increasing Short

608

4.1181 GBP

1p ordinary

 SWAP

Increasing Short

967

4.1168 GBP

1p ordinary

 SWAP

Increasing Short

1,028

4.1215 GBP

1p ordinary

 SWAP

Increasing Short

1,935

4.1136 GBP

1p ordinary

 SWAP

Increasing Short

2,121

4.1240 GBP

1p ordinary

 CFD

Increasing Short

2,423

4.1301 GBP

1p ordinary

 SWAP

Increasing Short

3,097

4.1224 GBP

1p ordinary

 SWAP

Increasing Short

3,444

4.1274 GBP

1p ordinary

 SWAP

Increasing Short

4,874

4.1069 GBP

1p ordinary

 SWAP

Increasing Short

5,088

4.1246 GBP

1p ordinary

 SWAP

Increasing Short

5,325

4.1115 GBP

1p ordinary

 SWAP

Increasing Short

5,369

4.1228 GBP

1p ordinary

 SWAP

Increasing Short

5,722

4.1178 GBP

1p ordinary

 CFD

Increasing Short

7,274

4.1263 GBP

1p ordinary

 SWAP

Increasing Short

7,388

4.1091 GBP

1p ordinary

 SWAP

Increasing Short

9,568

4.1121 GBP

1p ordinary

 SWAP

Increasing Short

10,102

4.1190 GBP

1p ordinary

 CFD

Increasing Short

10,235

4.1184 GBP

1p ordinary

 CFD

Increasing Short

16,371

4.1216 GBP

1p ordinary

 CFD

Increasing Short

22,622

4.1289 GBP

1p ordinary

 SWAP

Increasing Short

48,774

4.1256 GBP

1p ordinary

 SWAP

Increasing Short

64,865

4.1280 GBP

1p ordinary

 SWAP

Increasing Short

231,342

4.1166 GBP

1p ordinary

 SWAP

Opening Long

456

4.1189 GBP

1p ordinary

 SWAP

Opening Long

1,462

4.1216 GBP

1p ordinary

 SWAP

Opening Long

6,680

4.1180 GBP

1p ordinary

 SWAP

Opening Long

8,845

4.1145 GBP

1p ordinary

 SWAP

Opening Short

5,393

4.1189 GBP

1p ordinary

 SWAP

Opening Short

5,557

4.1220 GBP

1p ordinary

 SWAP

Opening Short

17,863

4.1222 GBP

1p ordinary

 SWAP

Opening Short

42,716

4.1219 GBP

1p ordinary

 SWAP

Opening Short

64,865

4.1280 GBP

1p ordinary

 SWAP

Opening Long

409

4.1232 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:

9 Jun 2022

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213