Form 8.3 RICARDO PLC

Companies

Barclays (BARC)
Ricardo (RCDO)

UK 100

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FORM 8.3
PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR
MORE
Rule 8.3 of the Takeover Code (the "Code")
1.				KEY INFORMATION
(a)	Full name of discloser:				Barclays PLC.
(b)	Owner or controller of interest and short
	positions disclosed, if different from 1(a):
(c)	Name of offeror/offeree in relation to whose				RICARDO PLC
	relevant securities this form relates:
(d)	If an exempt fund manager connected with an
	offeror/offeree, state this and specify identity of
	offeror/offeree:
(e)	Date position held/dealing undertaken:				12 Jun 2025
(f)	In addition to the company in 1(c) above, is the discloser making				NO
	disclosures in respect of any other party to the offer?
2.				POSITIONS OF THE PERSON MAKING THE DISCLOSURE
(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:				25p ordinary
				Interests		Short Positions
				Number	(%)	Number	(%)
(1)	Relevant securities owned
	and/or controlled:			130,106	0.21%	769,002	1.24%
(2)	Cash-settled derivatives:
	and/or controlled:			733,169	1.18%	126,995	0.20%
(3)	Stock-settled derivatives (including options)
	and agreements to purchase/sell:			0	0.00%	0	0.00%

	TOTAL:			863,275	1.39%	895,997	1.44%
(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		Number of		Price per unit
security				securities
25p ordinary		Purchase		73,818		4.2387 GBP
25p ordinary		Purchase		31,963		4.2410 GBP
25p ordinary		Purchase		18,953		4.2521 GBP
25p ordinary		Purchase		14,255		4.2408 GBP
25p ordinary		Purchase		11,278		4.2403 GBP
25p ordinary		Purchase		8,589		4.2600 GBP
25p ordinary		Purchase		7,862		4.2453 GBP
25p ordinary		Purchase		6,755		4.2332 GBP
25p ordinary		Purchase		5,571		4.2496 GBP
25p ordinary		Purchase		4,069		4.2309 GBP
25p ordinary		Purchase		3,489		4.2375 GBP
25p ordinary		Purchase		3,163		4.2420 GBP
25p ordinary		Purchase		3,073		4.2312 GBP
25p ordinary		Purchase		2,566		4.2313 GBP
25p ordinary		Purchase		2,218		4.2406 GBP
25p ordinary		Purchase		1,164		4.2366 GBP
25p ordinary		Purchase		839		4.2300 GBP
25p ordinary		Purchase		723		4.2350 GBP
25p ordinary		Purchase		269		4.2604 GBP
25p ordinary		Sale		25,708		4.2600 GBP
25p ordinary		Sale		246		4.2400 GBP

(b)	Cash-settled derivative transactions
Class of		Product		Nature of dealing		Number of	Price per
relevant		description				reference	unit
security						securities
25p ordinary		SWAP		Decreasing Long		398	4.2300 GBP
25p ordinary		SWAP		Decreasing Long		32,899	4.2368 GBP
25p ordinary		SWAP		Decreasing Long		3,489	4.2375 GBP
25p ordinary		SWAP		Decreasing Long		65,928	4.2388 GBP
25p ordinary		SWAP		Decreasing Long		7,779	4.2389 GBP
25p ordinary		SWAP		Decreasing Long		11,278	4.2403 GBP
25p ordinary		SWAP		Decreasing Long		3,254	4.2408 GBP
25p ordinary		SWAP		Decreasing Long		23,540	4.2417 GBP
25p ordinary		SWAP		Decreasing Long		3,163	4.2420 GBP
25p ordinary		SWAP		Decreasing Long		644	4.2424 GBP
25p ordinary		SWAP		Decreasing Long		7,862	4.2453 GBP
25p ordinary		SWAP		Decreasing Long		5,571	4.2496 GBP
25p ordinary		SWAP		Decreasing Long		8,465	4.2600 GBP
25p ordinary		SWAP		Decreasing Long		269	4.2604 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 person 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:				13 Jun 2025
Contact name:				Large Holdings Regulatory Operations
Telephone number:				020 3134 7213