Form 8.5 (EPT/RI)-Beazley plc

JPMorgan Securities Plc

28 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:	27 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	1,327,334	11.4000 GBP	11.1500 GBP
	Sale	910,085	11.4100 GBP	11.1500 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	535	11.2784 GBP
			2,025	11.2939 GBP
			3,069	11.3051 GBP
			39,549	11.3313 GBP
			2,006	11.3338 GBP
			91,368	11.3400 GBP
			555	11.3405 GBP
			328	11.3573 GBP
		Decrease Short	816	11.2260 GBP
			410	11.2368 GBP
			5,656	11.2581 GBP
			10,222	11.2660 GBP
			102,630	11.2682 GBP
			28,760	11.2893 GBP
			861	11.2927 GBP
			309	11.2928 GBP
			4,807	11.2929 GBP
			3,720	11.2950 GBP
			558	11.2956 GBP
			5,700	11.2983 GBP
			17,729	11.2986 GBP
			21,708	11.2992 GBP
			9,743	11.3014 GBP
			32,487	11.3038 GBP
			1,931	11.3050 GBP
			7,312	11.3063 GBP
			228	11.3098 GBP
			2,722	11.3099 GBP
			571	11.3105 GBP
			2,427	11.3148 GBP
			2,958	11.3170 GBP
			16,264	11.3203 GBP
			27	11.3230 GBP
			925	11.3244 GBP
			1,288	11.3264 GBP
			19,140	11.3290 GBP
			5,671	11.3324 GBP
			8,871	11.3366 GBP
			265	11.3397 GBP
			1,384	11.3398 GBP
			25,266	11.3400 GBP
			2,864	11.3460 GBP
			1,853	11.3526 GBP
			24	11.3633 GBP
			125	11.3654 GBP
			127	11.3657 GBP
			116	11.3699 GBP
			2,397	11.3763 GBP
			11	11.3789 GBP
			272	11.3800 GBP
			302	11.3825 GBP
			49	11.3826 GBP
			87	11.3838 GBP
			417	11.3840 GBP
			69	11.3900 GBP
		Increase Long	2,244	11.2919 GBP
			7,888	11.2934 GBP
			26	11.3038 GBP
			500	11.3040 GBP
			299	11.3395 GBP
		Increase Short	34	11.1703 GBP
			3,287	11.2124 GBP
			2,310	11.2230 GBP
			25,000	11.2450 GBP
		293	11.2453 GBP
		133,785	11.2567 GBP
		253	11.2805 GBP
		71,949	11.3000 GBP
		4,247	11.3050 GBP
		30,000	11.3057 GBP
		710	11.3072 GBP
		17,847	11.3096 GBP
		7,860	11.3098 GBP
		169	11.3102 GBP
		2,781	11.3104 GBP
		9,187	11.3121 GBP
		42,670	11.3136 GBP
		1,431	11.3185 GBP
		41,185	11.3186 GBP
		424	11.3187 GBP
		11,782	11.3328 GBP
		1,876	11.3371 GBP
		7,268	11.3372 GBP
		25,084	11.3400 GBP
		375	11.3411 GBP
		1,059	11.3519 GBP
		7,994	11.3707 GBP
		25,000	11.3727 GBP
		24	11.3800 GBP
	Opening a short position	30,000	11.2614 GBP
		120,135	11.3400 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:	28 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