Form 8.5 (EPT/RI)-Beazley plc

JPMorgan Securities Plc

21 January 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 January 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	4,025,540	11.6000 GBP	11.2600 GBP
	Sale	3,957,087	11.6000 GBP	11.2595 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	39,920	11.2602 GBP
			9,017	11.2611 GBP
			1,953	11.2699 GBP
			10,512	11.2700 GBP
			1,953	11.2729 GBP
			1,614	11.3176 GBP
			3,316	11.3215 GBP
			22,823	11.3423 GBP
			820	11.3442 GBP
			1,035	11.3664 GBP
			6,970	11.4071 GBP
			15,746	11.4168 GBP
			471	11.5031 GBP
			3,982	11.5069 GBP
			5,652	11.5679 GBP
		Decrease Short	122,440	11.2600 GBP
			20,556	11.2605 GBP
			9,106	11.2711 GBP
			3,091	11.2723 GBP
			66,482	11.2944 GBP
			41,284	11.2950 GBP
			18,314	11.2952 GBP
			22,423	11.3155 GBP
			9,596	11.3189 GBP
			8,521	11.3196 GBP
			20,511	11.3219 GBP
			17,152	11.3510 GBP
			5,567	11.3641 GBP
			80,089	11.3658 GBP
			1,614	11.3911 GBP
			33,570	11.4125 GBP
			11,500	11.4256 GBP
			72,620	11.4351 GBP
			68,109	11.4494 GBP
			19,192	11.4504 GBP
			51,000	11.4629 GBP
			14,877	11.4655 GBP
			13,969	11.4849 GBP
			45,745	11.4948 GBP
			11,098	11.5038 GBP
			16,512	11.5624 GBP
			6,378	11.5700 GBP
			54	11.5748 GBP
			64,027	11.5863 GBP
			62	11.5948 GBP
			2,019	11.5987 GBP
			165	11.6000 GBP
		Increase Long	398	11.2595 GBP
			78,576	11.2668 GBP
			48,828	11.3813 GBP
			7	11.5286 GBP
			17,395	11.5571 GBP
		Increase Short	314,868	11.2600 GBP
			97,955	11.2607 GBP
			553	11.2614 GBP
			50,000	11.2655 GBP
			27,716	11.2727 GBP
			2,463	11.2742 GBP
			4,368	11.3225 GBP
			71,090	11.3379 GBP
			404	11.3653 GBP
			21,078	11.3715 GBP
			11,255	11.3732 GBP
			43,114	11.3817 GBP
		19,148	11.3868 GBP
		472	11.4011 GBP
		33,760	11.4084 GBP
		106	11.4100 GBP
		32,523	11.4217 GBP
		825	11.4266 GBP
		16,009	11.4267 GBP
		16,895	11.4283 GBP
		2,417	11.4568 GBP
		509	11.4620 GBP
		1,099	11.4818 GBP
		257	11.4831 GBP
		50,000	11.4857 GBP
		383	11.4879 GBP
		358	11.4918 GBP
		50,000	11.5004 GBP
		401	11.5035 GBP
		25,872	11.5066 GBP
		13,609	11.5100 GBP
		299	11.5250 GBP
		29	11.5407 GBP
		54	11.5752 GBP
		32,046	11.5858 GBP
		42	11.5867 GBP
		62	11.5952 GBP
	Opening a short position	925	11.4058 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:	21 January 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