Form 8.5 (EPT/RI)-Beazley plc

JPMorgan Securities Plc

16 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:	13 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	2,909,568	12.4600 GBP	12.2950 GBP
	Sale	2,528,061	12.4501 GBP	12.3000 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	69	12.3006 GBP
			2,620	12.3105 GBP
			119,120	12.3131 GBP
			69	12.3380 GBP
			73	12.3548 GBP
			38,739	12.3552 GBP
		Decrease Short	8,803	12.3000 GBP
			147	12.3098 GBP
			6,136	12.3139 GBP
			23	12.3151 GBP
			23,410	12.3311 GBP
			1	12.3338 GBP
			2,148	12.3390 GBP
			33	12.3400 GBP
			3,152	12.3407 GBP
			681	12.3444 GBP
			4,905	12.3448 GBP
			5,267	12.3487 GBP
			610	12.3503 GBP
			22,433	12.3677 GBP
			1,286	12.3748 GBP
			1,779	12.3850 GBP
			23,033	12.3884 GBP
			3,507	12.3995 GBP
			4,400	12.4074 GBP
			2,561	12.4078 GBP
			2,020	12.4095 GBP
			19,724	12.4461 GBP
			1,966	12.4501 GBP
		Increase Long	31,035	12.3062 GBP
			163	12.3188 GBP
			400	12.4075 GBP
		Increase Short	4,423	12.3000 GBP
			1,348	12.3002 GBP
			229	12.3029 GBP
			10,646	12.3087 GBP
			1,586	12.3166 GBP
			2,500	12.3250 GBP
			13	12.3369 GBP
			17,220	12.3386 GBP
			757	12.3429 GBP
			2,257	12.3539 GBP
			1,062	12.3595 GBP
			5,269	12.3657 GBP
			1	12.3700 GBP
			290	12.3738 GBP
			1,286	12.3753 GBP
			5,849	12.3770 GBP
			258,540	12.4087 GBP
			2,184	12.4265 GBP
			29,549	12.4353 GBP
		Opening a long position	7,548	12.3000 GBP
			127	12.3416 GBP
			16,077	12.3482 GBP
		Opening a short position	23,501	12.3000 GBP
			251	12.3551 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:	16 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