Form 8.5 (EPT/RI)-Beazley plc

JPMorgan Securities Plc

11 February 2026

 

FORM 8.5 (EPT/RI)

PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY

Rule 8.5 of the Takeover Code (the "Code")

1.         KEY INFORMATION

(a) Name of exempt principal trader:	J.P. Morgan Securities Plc
(b) Name of offeror/offeree in relation to whose relevant securities this form relates:      Use a separate form for each offeror/offeree	Beazley plc
(c) Name of the party to the offer with which exempt principal trader is connected:	Corporate Broker and Financial Adviser to Beazley Plc
(d) Date dealing undertaken:	10 February 2026
(e) In addition to the company in 1(b) above, is the exempt principal trader making disclosures in respect of any other party to this offer?      If it is a cash offer or possible cash offer, state "N/A"	N/A

2.         DEALINGS BY THE EXEMPT PRINCIPAL TRADER

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

(a)        Purchases and sales

Class of relevant security	Purchases/ sales	Total number of securities	Highest price per unit paid/received	Lowest price per unit paid/received
5p ordinary	Purchase	1,511,479	12.4400 GBP	12.2900 GBP
	Sale	839,846	12.4400 GBP	12.2800 GBP

(b)        Cash-settled derivative transactions

Class of relevant security	Product description e.g. CFD	Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position	Number of reference securities	Price per unit
5p ordinary	Equity Swap	Decrease Long	212	12.2906 GBP
			27,280	12.2929 GBP
			6,977	12.3003 GBP
			21,992	12.3004 GBP
		Decrease Short	107	12.2888 GBP
			1,412	12.2900 GBP
			9,521	12.2902 GBP
			5,832	12.2929 GBP
			882	12.2959 GBP
			16	12.2988 GBP
			2,498	12.3039 GBP
			5,447	12.3058 GBP
			2,186	12.3140 GBP
			942	12.3184 GBP
			1,193	12.3243 GBP
			10,714	12.3332 GBP
			63,950	12.3341 GBP
			706	12.3400 GBP
			3,158	12.3485 GBP
			12,761	12.3535 GBP
			11,635	12.3580 GBP
			15,000	12.3691 GBP
			22,263	12.3728 GBP
			67	12.3781 GBP
			30	12.3800 GBP
			11,958	12.3833 GBP
			2,419	12.3841 GBP
			6,000	12.3897 GBP
			390	12.3913 GBP
			5,067	12.3940 GBP
			9,440	12.3948 GBP
			419	12.3991 GBP
			54	12.4005 GBP
			419	12.4391 GBP
		Increase Long	683	12.2875 GBP
			1,379	12.2955 GBP
			1,040	12.2972 GBP
			1,165	12.3337 GBP
			200	12.3700 GBP
			27	12.4111 GBP
		Increase Short	84,962	12.2900 GBP
			251	12.2902 GBP
			35,160	12.2920 GBP
			15,382	12.2979 GBP
			3,265	12.3074 GBP
			366	12.3300 GBP
			10,000	12.3325 GBP
			12,894	12.3332 GBP
			5,000	12.3500 GBP
			1,178	12.3590 GBP
			17,237	12.3620 GBP
			38,000	12.3662 GBP
			234,317	12.3697 GBP
			24	12.3803 GBP
			801	12.3808 GBP
			58,485	12.3887 GBP
			1,980	12.3912 GBP
			926	12.3942 GBP
			9,733	12.3986 GBP
			26	12.4031 GBP
			253,000	12.4087 GBP
		Opening a long position	19,945	12.2900 GBP
			767	12.3129 GBP
			13,435	12.3599 GBP
		93,944	12.3741 GBP
		31,034	12.3892 GBP
		17,597	12.3993 GBP
	Opening a short position	151,281	12.2900 GBP
		337	12.3004 GBP
		10,683	12.3007 GBP
		986	12.4004 GBP

(c)        Stock-settled derivative transactions (including options)

(i)         Writing, selling, purchasing or varying

Class of relevant security	Product description e.g. call option	Writing, purchasing, selling, varying etc.	Number of securities to which option relates	Exercise price per unit	Type e.g. American, European etc.	Expiry date	Option money paid/ received per unit

(ii)        Exercise

Class of relevant security	Product description e.g. call option	Exercising/ exercised against	Number of securities	Exercise price per unit

(d)        Other dealings (including subscribing for new securities)

Class of relevant security	Nature of dealing e.g. subscription, conversion	Details	Price per unit (if applicable)

3.         OTHER INFORMATION

(a)        Indemnity and other dealing 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: Irrevocable commitments and letters of intent should not be included.  If there are no such agreements, arrangements or understandings, state "none"

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 or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state "none"

None

Date of disclosure:	11 February 2026
Contact name:	Hetvi Shah
Telephone number:	44 2034 936359

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service. 

The Panel's Market Surveillance Unit is available for consultation in relation to the Code's dealing disclosure requirements on [phone].

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

 

END