Form 8.5 (EPT/RI)-Beazley plc

JPMorgan Securities Plc

23 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:	20 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	1,006,179	12.2700 GBP	12.1600 GBP
	Sale	694,134	12.2650 GBP	12.1600 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	29	12.1906 GBP
			55,185	12.2059 GBP
			6,773	12.2134 GBP
			973	12.2165 GBP
			391	12.2219 GBP
			8,817	12.2220 GBP
			800	12.2500 GBP
			732	12.2625 GBP
		Decrease Short	186,587	12.1900 GBP
			675	12.1910 GBP
			4,846	12.1940 GBP
			10,916	12.1942 GBP
			510	12.2014 GBP
			13,624	12.2030 GBP
			732	12.2050 GBP
			800	12.2091 GBP
			185	12.2101 GBP
			387	12.2128 GBP
			871	12.2164 GBP
			983	12.2260 GBP
			28,586	12.2273 GBP
			438	12.2300 GBP
			7,136	12.2346 GBP
			1,922	12.2433 GBP
		Increase Long	17,992	12.1900 GBP
			3,083	12.1931 GBP
			3,100	12.2115 GBP
			12,400	12.2191 GBP
			40	12.2198 GBP
			16,009	12.2367 GBP
		Increase Short	6,032	12.1900 GBP
			1,024	12.1902 GBP
			20,055	12.1903 GBP
			65,972	12.1907 GBP
			362	12.1912 GBP
			16,048	12.1914 GBP
			8,922	12.1933 GBP
			91,000	12.1991 GBP
			45,109	12.1993 GBP
			171	12.2102 GBP
			3,377	12.2121 GBP
			14	12.2142 GBP
			68,919	12.2174 GBP
			526	12.2200 GBP
			99	12.2212 GBP
			1,928	12.2249 GBP
			299,200	12.2261 GBP
			1	12.2300 GBP
			9,054	12.2337 GBP
			904	12.2356 GBP
			1,747	12.2367 GBP
		Opening a long position	14,619	12.2094 GBP
			21,778	12.2114 GBP
			1,954	12.2340 GBP
		Opening a short position	35,363	12.1900 GBP
			2,620	12.2301 GBP
			368	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:	23 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