Form 8.5 (EPT/RI)

Citigroup Global Markets Limited

12 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:	Citigroup Global Markets Limited
(b) Name of offeror/offeree in relation to whose relevant securities this form relates:  Use a separate form for each offeror/offeree	Glencore plc
(c) Name of the party to the offer with which exempt principal trader is connected:	Glencore plc
(d) Date dealing undertaken:	09 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"	Rio Tinto plc and Rio Tinto Limited

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
USD 0.01	Sale	11,934,573	GBP 4.5880	GBP 3.6351
USD 0.01	Sale	70,656	USD 6.0740	USD 6.0740
USD 0.01	Purchase	18,073,376	GBP 4.5895	GBP 4.0200

(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
USD 0.01	TRS	Reducing Long Position	103,363	GBP 4.5092
USD 0.01	TRS	Increasing Long Position	44,200	GBP 4.5161
USD 0.01	TRS	Increasing Long Position	10,318	GBP 4.5212
USD 0.01	TRS	Reducing Short Position	113	GBP 4.5130
USD 0.01	TRS	Increasing Long Position	35,248	GBP 4.5260
USD 0.01	TRS	Reducing Short Position	163	GBP 4.5265
USD 0.01	TRS	Reducing Short Position	16,811	GBP 4.5135
USD 0.01	TRS	Reducing Short Position	7,077	GBP 4.5265
USD 0.01	TRS	Increasing Short Position	275,000	GBP 4.4914
USD 0.01	TRS	Increasing Short Position	122,012	GBP 4.5122
USD 0.01	TRS	Increasing Short Position	1,014,100	GBP 4.5182
USD 0.01	TRS	Increasing Short Position	263,326	GBP 4.5262
USD 0.01	TRS	Reducing Short Position	290,996	GBP 4.5448
USD 0.01	TRS	Increasing Short Position	7,426	GBP 4.5349
USD 0.01	TRS	Reducing Short Position	130,801	GBP 4.4821
USD 0.01	TRS	Increasing Short Position	1,264	GBP 4.5265
USD 0.01	TRS	Reducing Short Position	13,210	GBP 4.4380
USD 0.01	TRS	Reducing Short Position	2,064	GBP 4.4406
USD 0.01	TRS	Reducing Short Position	12,118	GBP 4.4522
USD 0.01	TRS	Reducing Short Position	13,540	GBP 4.4621
USD 0.01	TRS	Reducing Short Position	34,503	GBP 4.5140
USD 0.01	TRS	Reducing Short Position	23,870	GBP 4.5145
USD 0.01	TRS	Reducing Short Position	2,176	GBP 4.5148
USD 0.01	TRS	Reducing Short Position	262,433	GBP 4.5150
USD 0.01	TRS	Reducing Short Position	2,500	GBP 4.5152
USD 0.01	TRS	Reducing Short Position	1,987	GBP 4.5155
USD 0.01	TRS	Reducing Short Position	97,571	GBP 4.5158
USD 0.01	TRS	Reducing Short Position	63,971	GBP 4.5162
USD 0.01	TRS	Reducing Short Position	422	GBP 4.5165
USD 0.01	TRS	Reducing Short Position	7,891	GBP 4.5170
USD 0.01	TRS	Reducing Short Position	10,148	GBP 4.5175
USD 0.01	TRS	Reducing Short Position	4,818	GBP 4.5180
USD 0.01	TRS	Reducing Short Position	2,224	GBP 4.5185
USD 0.01	TRS	Reducing Short Position	13,924	GBP 4.5190
USD 0.01	TRS	Reducing Short Position	1,888	GBP 4.5195
USD 0.01	TRS	Reducing Short Position	6,282	GBP 4.5200
USD 0.01	TRS	Reducing Short Position	90,898	GBP 4.5210
USD 0.01	TRS	Reducing Short Position	5,222	GBP 4.5220
USD 0.01	TRS	Reducing Short Position	7,033	GBP 4.5240
USD 0.01	TRS	Reducing Short Position	4,741	GBP 4.5245
USD 0.01	TRS	Reducing Short Position	8,842	GBP 4.5250
USD 0.01	TRS	Reducing Short Position	7,839	GBP 4.5255
USD 0.01	TRS	Reducing Short Position	742	GBP 4.5260
USD 0.01	TRS	Reducing Short Position	123	GBP 4.5268
USD 0.01	TRS	Reducing Short Position	478	GBP 4.5292
USD 0.01	TRS	Reducing Short Position	7,024	GBP 4.5300
USD 0.01	TRS	Reducing Short Position	325	GBP 4.5322
USD 0.01	TRS	Reducing Short Position	1,433	GBP 4.5325
USD 0.01	TRS	Reducing Short Position	2,138	GBP 4.5330
USD 0.01	TRS	Reducing Short Position	2,040	GBP 4.5335
USD 0.01	TRS	Reducing Short Position	13	GBP 4.5340
USD 0.01	TRS	Reducing Short Position	105	GBP 4.5342
USD 0.01	TRS	Reducing Short Position	1,622	GBP 4.5345
USD 0.01	TRS	Reducing Short Position	472	GBP 4.5348
USD 0.01	TRS	Reducing Short Position	3,773	GBP 4.5350
USD 0.01	TRS	Reducing Short Position	1,605	GBP 4.5355
USD 0.01	TRS	Reducing Long Position	61,822	GBP 4.5061

(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:	12 January 2026
Contact name:	Craig Watson
Telephone number:	02890 409 605

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at [e-mail]. The Panels Market Surveillance Unit is available for consultation in relation to the Codes dealing disclosure requirements on [phone].

The Code can be viewed on the Panels website at www.thetakeoverpanel.org.uk.

 

END