Form 8.5 EPT/Non RI DOWLAIS GROUP PLC -Replacement

FORM 8.5 (EPT/NON-RI)

Amendment - this form replaces RNS number 3298E published at 11:35 on 09/04/2025 changes made to section 2a,3a and 3b

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

DOWLAIS GROUP PLC

relevant securities this form relates:

(c)

Name of the party to the offer with which exempt

DOWLAIS GROUP PLC

principal trader is connected

(d)

Date position held/dealing undertaken:

08 Apr 2025

(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?

AMERICAN AXLE & MANUFACTURING HOLDINGS INC

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:

40,496,594

3.01%

2,519,940

0.19%

(2)

Cash-settled derivatives:

and/or controlled:

965,797

0.07%

38,938,360

2.90%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

41,462,391

3.08%

41,458,300

3.09%

(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

2,266,311

0.5341 GBP

0.5116 GBP

1p ordinary

Sale

413,300

0.5353 GBP

0.5138 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 Short

41,756

0.5138 GBP

1p ordinary

SWAP

Decreasing Short

11,089

0.5199 GBP

1p ordinary

SWAP

Decreasing Short

41,756

0.5207 GBP

1p ordinary

SWAP

Decreasing Short

645

0.5242 GBP

1p ordinary

SWAP

Decreasing Short

20

0.5255 GBP

1p ordinary

SWAP

Decreasing Short

4,127

0.5269 GBP

1p ordinary

SWAP

Decreasing Short

3,520

0.5271 GBP

1p ordinary

SWAP

Decreasing Short

77,112

0.5274 GBP

1p ordinary

SWAP

Decreasing Short

9,644

0.5277 GBP

1p ordinary

SWAP

Decreasing Short

17,958

0.5285 GBP

1p ordinary

SWAP

Decreasing Short

264

0.5299 GBP

1p ordinary

SWAP

Decreasing Short

5,126

0.5306 GBP

1p ordinary

SWAP

Decreasing Short

41,756

0.5315 GBP

1p ordinary

SWAP

Decreasing Short

8,615

0.5323 GBP

1p ordinary

SWAP

Decreasing Short

2,307

0.5353 GBP

1p ordinary

SWAP

Increasing Short

210,587

0.5140 GBP

1p ordinary

SWAP

Increasing Short

755,000

0.5322 GBP

1p ordinary

SWAP

Increasing Short

6,672

0.5155 GBP

1p ordinary

SWAP

Increasing Short

23,723

0.5209 GBP

1p ordinary

SWAP

Increasing Short

331,617

0.5224 GBP

1p ordinary

SWAP

Increasing Short

159,405

0.5229 GBP

1p ordinary

SWAP

Increasing Short

165,173

0.5232 GBP

1p ordinary

SWAP

Increasing Short

13,371

0.5244 GBP

1p ordinary

SWAP

Increasing Short

3,715

0.5273 GBP

1p ordinary

SWAP

Increasing Short

8,552

0.5291 GBP

1p ordinary

SWAP

Increasing Short

16,379

0.5297 GBP

1p ordinary

SWAP

Increasing Short

806

0.5300 GBP

1p ordinary

SWAP

Increasing Short

90,000

0.5303 GBP

1p ordinary

SWAP

Increasing Short

97,899

0.5313 GBP

1p ordinary

SWAP

Increasing Short

14,833

0.5318 GBP

1p ordinary

SWAP

Increasing Short

43,579

0.5340 GBP

1p ordinary

CFD

Decreasing Short

1,848

0.5299 GBP

1p ordinary

CFD

Increasing Short

179,243

0.5140 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:

15 Apr 2025

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213