Form 8.5 (EPT/NON-RI) Pearson plc Amendment

FORM 8.5 (EPT/NON-RI) Amendment to Sale

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

PEARSON PLC

relevant securities this form relates:

(c)

Name of the party to the offer with which exempt

Apollo Global Management, Inc. and its subsidiaries

principal trader is connected

(d)

Date position held/dealing undertaken:

11 March 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:

25p ordinary

Interests

Short Positions

Number

(%)

Number

(%)

(1)

Relevant securities owned

and/or controlled:

6,173,105

0.82%

2,894,519

0.38%

(2)

Cash-settled derivatives:

2,691,686

0.36%

2,515,176

0.33%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

8,864,791

1.17%

5,409,695

0.71%

(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

25p ordinary

Purchase

3,945,708

8.0080 GBP

6.514 GBP

25p ordinary

Sale

5,861,792

8.0029 GBP

6.594 GBP

(b)

Cash-settled derivative transactions

Class of

Product

Nature of dealing

Number of

Price per

relevant

description

reference

unit

security

securities

25p ordinary

 SWAP

Opening Long

28

6.5787 GBP

25p ordinary

 SWAP

Opening Long

72

6.5500 GBP

25p ordinary

 SWAP

Opening Long

638

6.5940 GBP

25p ordinary

 SWAP

Opening Long

1,391

7.6659 GBP

25p ordinary

 SWAP

Opening Long

1,596

8.0251 GBP

25p ordinary

 SWAP

Opening Long

3,986

8.0102 GBP

25p ordinary

 SWAP

Opening Long

4,793

7.8296 GBP

25p ordinary

 SWAP

Opening Long

7,868

6.9377 GBP

25p ordinary

 SWAP

Opening Long

8,582

7.4506 GBP

25p ordinary

 SWAP

Opening Long

11,732

7.9333 GBP

25p ordinary

 SWAP

Opening Long

14,815

6.8575 GBP

25p ordinary

 SWAP

Opening Long

20,000

6.6495 GBP

25p ordinary

 SWAP

Opening Long

37,255

7.4767 GBP

25p ordinary

 SWAP

Opening Long

37,368

7.5685 GBP

25p ordinary

 SWAP

Opening Long

38,354

7.8435 GBP

25p ordinary

 SWAP

Opening Long

42,438

7.4136 GBP

25p ordinary

 SWAP

Opening Long

62,395

7.0827 GBP

25p ordinary

 SWAP

Opening Long

74,740

7.3877 GBP

25p ordinary

 SWAP

Opening Long

81,073

7.5399 GBP

25p ordinary

 SWAP

Opening Long

89,962

7.7056 GBP

25p ordinary

 SWAP

Opening Long

117,769

7.6481 GBP

25p ordinary

 SWAP

Opening Long

120,740

7.5832 GBP

25p ordinary

 SWAP

Opening Long

199,693

7.8184 GBP

25p ordinary

 SWAP

Opening Long

208,417

7.6941 GBP

25p ordinary

 SWAP

Opening Long

210,306

7.9400 GBP

25p ordinary

 SWAP

Opening Long

212,868

7.4011 GBP

25p ordinary

 SWAP

Opening Long

217,523

7.6623 GBP

25p ordinary

 SWAP

Opening Long

222,039

7.8549 GBP

25p ordinary

 SWAP

Opening Long

276,262

6.7764 GBP

25p ordinary

 SWAP

Opening Long

2,280,366

7.8458 GBP

25p ordinary

 SWAP

Opening Short

308

7.0849 GBP

25p ordinary

 SWAP

Opening Short

342

7.3062 GBP

25p ordinary

 SWAP

Opening Short

399

7.9478 GBP

25p ordinary

 SWAP

Opening Short

713

7.6062 GBP

25p ordinary

 SWAP

Opening Short

902

7.8083 GBP

25p ordinary

 SWAP

Opening Short

1,426

7.6062 GBP

25p ordinary

 CFD

Opening Short

4,258

7.1134 GBP

25p ordinary

 SWAP

Opening Short

6,000

7.7437 GBP

25p ordinary

 SWAP

Opening Short

9,669

7.5536 GBP

25p ordinary

 SWAP

Opening Short

10,607

7.7526 GBP

25p ordinary

 SWAP

Opening Short

12,593

7.9034 GBP

25p ordinary

 SWAP

Opening Short

15,078

7.7022 GBP

25p ordinary

 CFD

Opening Short

16,034

7.1091 GBP

25p ordinary

 CFD

Opening Short

16,185

7.1413 GBP

25p ordinary

 SWAP

Opening Short

22,034

7.7924 GBP

25p ordinary

 SWAP

Opening Short

24,122

6.7954 GBP

25p ordinary

 SWAP

Opening Short

59,250

7.8099 GBP

25p ordinary

 SWAP

Opening Short

63,250

7.3201 GBP

25p ordinary

 CFD

Opening Short

206,087

7.9249 GBP

25p ordinary

 SWAP

Opening Long

11,086

7.7451 GBP

25p ordinary

 SWAP

Opening Long

1,024,112

7.5605 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 Mar 2022

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213