Form 8.5 (EPT/RI)-Glencore 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	Glencore plc
(c) Name of the party to the offer with which exempt principal trader is connected:	Corporate Broker to Rio Tinto plc and Rio Tinto Limited
(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"	Yes, Rio Tinto plc and 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
Ordinary NPV	Purchase	7,524,656	4.8207 GBP	4.7301 GBP
		500	5.5170 EUR	5.5170 EUR
	Sale	6,175,000	4.8200 GBP	4.7301 GBP
		500	5.5170 EUR	5.5170 EUR

(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
Ordinary NPV	Equity Swap	Decrease Long	329	4.7501 GBP
			20,339	4.7602 GBP
			734	4.7989 GBP
			2,265	4.8048 GBP
			1,525	4.8053 GBP
			1,165,028	4.8200 GBP
			1,248	4.8207 GBP
			10,473	106.2122 ZAR
			21,658	106.2699 ZAR
			230	106.2887 ZAR
			8,223	106.2933 ZAR
			1,495	106.3205 ZAR
			930	106.3675 ZAR
			5,287	106.4628 ZAR
		Decrease Short	22,141	4.7880 GBP
			35,153	4.7929 GBP
			13,491	4.7941 GBP
			54,235	4.7965 GBP
			10,540	4.7984 GBP
			109,354	4.7988 GBP
			114,809	4.7998 GBP
			581	4.8000 GBP
			272	4.8028 GBP
			12,673	4.8030 GBP
			25,287	4.8049 GBP
			1,158	4.8050 GBP
			319	4.8058 GBP
			116,800	4.8061 GBP
			396	4.8142 GBP
			16,458	4.8156 GBP
			27,639	4.8161 GBP
			633	4.8195 GBP
			11,955	4.8196 GBP
			3,842	4.8198 GBP
			33,974	4.8200 GBP
			7,607	105.7175 ZAR
			10,473	106.2122 ZAR
			230	106.2887 ZAR
			8,223	106.2933 ZAR
			993	106.3000 ZAR
			238	106.3400 ZAR
			930	106.3675 ZAR
			264	106.3800 ZAR
			5,287	106.4415 ZAR
		Increase Long	2,701	4.7832 GBP
			18,436	4.7876 GBP
			15,053	4.7988 GBP
			8,413	4.7992 GBP
			113,968	4.8126 GBP
			144,137	4.8172 GBP
			26,071	4.8193 GBP
			291,529	4.8197 GBP
			853,136	4.8200 GBP
			7,836	106.1069 ZAR
			5,278	106.1286 ZAR
			50,584	106.1739 ZAR
			21,884	106.2726 ZAR
			59,054	106.2862 ZAR
			51	106.3282 ZAR
		Increase Short	1,199	4.7475 GBP
			200,661	4.7549 GBP
			934	4.7845 GBP
			25,050	4.7887 GBP
			277,829	4.7963 GBP
		1	4.8005 GBP
		17,885	4.8022 GBP
		13,500	4.8063 GBP
		29,537	4.8084 GBP
		1,069	4.8097 GBP
		7,726	4.8148 GBP
		32,605	4.8160 GBP
		9,179	105.8627 ZAR
		992	106.0348 ZAR
		7,836	106.1069 ZAR
		5,278	106.1286 ZAR
		13,009	106.2472 ZAR
		21,772	106.2841 ZAR
		59,087	106.3000 ZAR
		5,632	106.3011 ZAR
		4,017	106.3224 ZAR
		3,590	106.3225 ZAR
		18	106.3800 ZAR
	Opening a long position	1,469	105.5491 ZAR
		209	105.7100 ZAR
		7,607	106.3224 ZAR
		19,980	106.3276 ZAR
	Opening a short position	1,016	4.8039 GBP
		355,454	4.8200 GBP
		7,607	105.7175 ZAR
		11,242	106.0954 ZAR
		1,326	106.2899 ZAR
		9,316	106.4863 ZAR

(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