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:

09 Aug 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:

1,315,693

1.11%

55,651

0.05%

(2)

Cash-settled derivatives:

and/or controlled:

42,860

0.04%

1,151,073

0.97%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

1,358,553

1.14%

1,206,724

1.01%

(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

86,447

27.4842 GBP

26.7016 GBP

12.5p ordinary

Sale

86,331

27.5124 GBP

26.2600 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

681

26.6287 GBP

12.5p ordinary

CFD

Decreasing Short

1

27.3600 GBP

12.5p ordinary

CFD

Decreasing Short

26,212

27.4800 GBP

12.5p ordinary

CFD

Increasing Short

221

27.2217 GBP

12.5p ordinary

CFD

Increasing Short

1,168

27.2958 GBP

12.5p ordinary

CFD

Increasing Short

430

27.3344 GBP

12.5p ordinary

CFD

Increasing Short

78

27.4175 GBP

12.5p ordinary

SWAP

Decreasing Short

169

27.3214 GBP

12.5p ordinary

SWAP

Increasing Short

312

27.1784 GBP

12.5p ordinary

SWAP

Increasing Short

63

27.2802 GBP

12.5p ordinary

SWAP

Opening Long

25

27.3624 GBP

12.5p ordinary

SWAP

Increasing Long

426

27.4786 GBP

12.5p ordinary

SWAP

Closing Long

445

27.4800 GBP

12.5p ordinary

SWAP

Opening Short

34

27.2800 GBP

12.5p ordinary

SWAP

Increasing Long

2,540

27.4165 GBP

12.5p ordinary

SWAP

Decreasing Long

1,545

27.1815 GBP

12.5p ordinary

SWAP

Closing Long

2,459

27.4800 GBP

12.5p ordinary

SWAP

Decreasing Long

1,170

27.4841 GBP

12.5p ordinary

SWAP

Decreasing Long

33

27.4842 GBP

12.5p ordinary

SWAP

Decreasing Short

15

27.4798 GBP

12.5p ordinary

SWAP

Decreasing Short

141

27.3073 GBP

12.5p ordinary

SWAP

Decreasing Short

11,492

27.3398 GBP

12.5p ordinary

SWAP

Decreasing Short

45

27.3884 GBP

12.5p ordinary

SWAP

Decreasing Short

2,123

27.4686 GBP

12.5p ordinary

SWAP

Decreasing Short

1,226

27.4800 GBP

12.5p ordinary

SWAP

Increasing Short

11

26.2600 GBP

12.5p ordinary

SWAP

Increasing Short

7,722

27.1412 GBP

12.5p ordinary

SWAP

Increasing Short

187

27.2479 GBP

12.5p ordinary

SWAP

Increasing Short

90

27.3800 GBP

12.5p ordinary

SWAP

Increasing Short

179

27.3940 GBP

12.5p ordinary

SWAP

Decreasing Short

4,285

27.3643 GBP

12.5p ordinary

SWAP

Decreasing Short

237

27.4797 GBP

12.5p ordinary

SWAP

Increasing Short

1,814

27.2712 GBP

12.5p ordinary

SWAP

Increasing Short

4,204

27.2782 GBP

12.5p ordinary

SWAP

Increasing Short

66

27.3075 GBP

12.5p ordinary

SWAP

Increasing Short

9,006

27.3210 GBP

12.5p ordinary

SWAP

Increasing Short

157

27.3430 GBP

12.5p ordinary

SWAP

Increasing Short

311

27.3734 GBP

12.5p ordinary

SWAP

Increasing Short

1,555

27.3752 GBP

12.5p ordinary

SWAP

Increasing Short

104

27.3773 GBP

12.5p ordinary

SWAP

Increasing Short

23

27.4289 GBP

12.5p ordinary

SWAP

Increasing Short

28

27.4402 GBP

12.5p ordinary

SWAP

Increasing Short

1,964

27.4802 GBP

12.5p ordinary

SWAP

Closing Short

1,635

26.2600 GBP

12.5p ordinary

SWAP

Opening Short

616

27.2275 GBP

12.5p ordinary

SWAP

Increasing Short

1,406

27.2369 GBP

12.5p ordinary

SWAP

Increasing Short

1,495

27.2408 GBP

12.5p ordinary

SWAP

Increasing Short

1,433

27.2651 GBP

12.5p ordinary

SWAP

Increasing Short

1,538

27.2732 GBP

12.5p ordinary

SWAP

Increasing Short

1,079

27.3024 GBP

12.5p ordinary

SWAP

Increasing Short

1,417

27.3070 GBP

12.5p ordinary

SWAP

Increasing Short

1,580

27.3178 GBP

12.5p ordinary

SWAP

Increasing Short

2,136

27.3660 GBP

12.5p ordinary

SWAP

Increasing Short

2,472

27.3720 GBP

12.5p ordinary

SWAP

Increasing Short

3,161

27.3732 GBP

12.5p ordinary

SWAP

Increasing Short

1,474

27.3774 GBP

12.5p ordinary

SWAP

Increasing Short

1,437

27.4083 GBP

12.5p ordinary

SWAP

Increasing Short

6,100

27.4591 GBP

12.5p ordinary

SWAP

Increasing Short

1,952

27.4810 GBP

12.5p ordinary

SWAP

Decreasing Short

15

27.3998 GBP

12.5p ordinary

SWAP

Decreasing Short

5,728

27.4242 GBP

12.5p ordinary

SWAP

Opening Long

5,550

27.5124 GBP

12.5p ordinary

SWAP

Decreasing Short

5,065

27.3635 GBP

12.5p ordinary

SWAP

Increasing Short

639

27.2750 GBP

12.5p ordinary

SWAP

Increasing Short

1,535

27.4800 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:

12 Aug 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213