Form 8.5 (EPT/RI)-Beazley plc

JPMorgan Securities Plc

17 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:	16 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	1,038,696	12.3200 GBP	12.1700 GBP
	Sale	327,649	12.3385 GBP	12.1700 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	4,028	12.2006 GBP
			41,406	12.2065 GBP
			600	12.2233 GBP
			596	12.2506 GBP
			57	12.2612 GBP
			62	12.2668 GBP
		Decrease Short	2,174	12.1929 GBP
			545	12.1995 GBP
			670	12.1998 GBP
			2,599	12.2000 GBP
			3,639	12.2012 GBP
			486	12.2015 GBP
			7,813	12.2021 GBP
			4,693	12.2026 GBP
			4,817	12.2039 GBP
			6,323	12.2076 GBP
			31,174	12.2088 GBP
			1,683	12.2122 GBP
			28,908	12.2150 GBP
			11,276	12.2181 GBP
			275	12.2248 GBP
			2,236	12.2249 GBP
			3,601	12.2250 GBP
			19,310	12.2296 GBP
			5,436	12.2298 GBP
			5	12.2348 GBP
			524	12.2505 GBP
			16,012	12.2523 GBP
			1,348	12.2544 GBP
			2,335	12.2711 GBP
			2,300	12.2791 GBP
		Increase Long	1,443	12.2300 GBP
		Increase Short	2,200	12.1923 GBP
			14,845	12.1990 GBP
			885	12.2000 GBP
			36,959	12.2002 GBP
			2,564	12.2012 GBP
			14,995	12.2021 GBP
			105	12.2043 GBP
			1,035	12.2059 GBP
			16,942	12.2070 GBP
			2,534	12.2103 GBP
			356	12.2200 GBP
			275	12.2252 GBP
			22,694	12.2253 GBP
			494	12.2303 GBP
			3,322	12.2314 GBP
			1,822	12.2447 GBP
			5,790	12.2488 GBP
			1,379	12.2524 GBP
			1,837	12.2584 GBP
			429,782	12.2598 GBP
			6,004	12.2641 GBP
			91	12.2731 GBP
			5,586	12.2754 GBP
			449	12.2822 GBP
			275,779	12.3062 GBP
		Opening a long position	36,882	12.2000 GBP
			2,024	12.2103 GBP
			49,094	12.2190 GBP
			11,365	12.2356 GBP
			3,849	12.2608 GBP
			491	12.2799 GBP
		Opening a short position	44,742	12.2000 GBP
		10,990	12.2128 GBP
		9,869	12.2304 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:	17 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