FORM 8.5 (EPT/NON-RI)
PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY AN
EXEMPT PRINCIPAL TRADER WITHOUT RECOGNISED INTERMEDIARY ("RI") STATUS
(OR WHERE RI STATUS IS NOT APPLICABLE)
Rule 8.5 of the Takeover Code (the "Code")
1.	KEY INFORMATION
(a)	Name of exempt principal trader:			BARCLAYS CAPITAL SECURITIES LTD
(b)	Name of offeror/offeree in relation to whose relevant securities this form relates:			KEYWORDS STUDIOS PLC
(c)	Name of the party to the offer with which exempt principal trader is connected			KEYWORDS STUDIOS PLC
(d)	Date position held/dealing undertaken:			24 May 2024
(e)	In addition to the company in 1(b) above, is the exempt principal trader making disclosures in respect of any other party to the offer?			NO
2.	POSITIONS OF THE EXEMPT PRINCIPAL TRADER
(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:				1p ordinary
				Interests		Short Positions
				Number	(%)	Number	(%)
(1) Relevant securities owned and/or controlled:				366,800	0.46%	271,451	0.34%
(2) Cash-settled derivatives:				261,209	0.33%	352,585	0.44%
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:				0	0.00%	0	0.00%
TOTAL:				628,009	0.79%	624,036	0.78%

(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)	Purchase and sales
Class of relevant security	Purchase/sale	Total number of securities	Highest price per unit paid/received	Lowest price per unit paid/received
1p ordinary	Purchase	157515	22.2159 GBP	22.0440 GBP
1p ordinary	Sale	47928	22.1811 GBP	22.0285 GBP

(b)	Cash-settled derivative transactions
Class of relevant security	Product description	Nature of dealing	Number of reference securities	Price per unit
1p ordinary	SWAP	Closing Short	2	22.2400 GBP
1p ordinary	SWAP	Closing Short	170	21.9831 GBP
1p ordinary	SWAP	Closing Short	294	22.0614 GBP
1p ordinary	SWAP	Closing Short	308	22.1205 GBP
1p ordinary	SWAP	Closing Short	1,792	22.1200 GBP
1p ordinary	SWAP	Closing Short	1,800	22.0577 GBP
1p ordinary	SWAP	Closing Short	2,474	22.1400 GBP
1p ordinary	SWAP	Closing Short	2,870	22.1375 GBP
1p ordinary	SWAP	Decreasing Long	434	22.0439 GBP
1p ordinary	SWAP	Decreasing Long	1,405	22.0864 GBP
1p ordinary	CFD	Decreasing Long	3,854	22.0744 GBP
1p ordinary	CFD	Decreasing Long	8,121	22.1417 GBP
1p ordinary	SWAP	Decreasing Short	252	22.1008 GBP
1p ordinary	SWAP	Decreasing Short	354	22.1400 GBP
1p ordinary	SWAP	Decreasing Short	450	22.1014 GBP
1p ordinary	SWAP	Decreasing Short	1,413	21.9376 GBP
1p ordinary	SWAP	Decreasing Short	6,709	22.0584 GBP
1p ordinary	SWAP	Increasing Long	27	22.0997 GBP
1p ordinary	SWAP	Increasing Long	55	22.0997 GBP
1p ordinary	SWAP	Increasing Long	67	22.1094 GBP
1p ordinary	SWAP	Increasing Long	177	22.1351 GBP
1p ordinary	SWAP	Increasing Long	306	22.0688 GBP
1p ordinary	SWAP	Increasing Long	439	22.0574 GBP
1p ordinary	SWAP	Increasing Long	691	22.0687 GBP
1p ordinary	SWAP	Increasing Long	899	22.0570 GBP
1p ordinary	CFD	Increasing Long	1,284	22.0757 GBP
1p ordinary	SWAP	Increasing Short	55	22.1200 GBP
1p ordinary	SWAP	Opening Long	254	22.1400 GBP
1p ordinary	SWAP	Opening Long	376	22.0285 GBP
1p ordinary	SWAP	Opening Long	5,710	22.0586 GBP
1p ordinary	SWAP	Opening Short	108,000	22.2159 GBP

(c)	Stock-settled derivative transactions (including options)
(i)	Writing, selling, purchasing or varying
Class of relevant security	Product description	Writing, purchasing, selling, varying etc	Number of securities to which option relates	Exercise price per unit	Type	Expiry date	Option money paid/ received per unit


(ii)	Exercising
Class of relevant security	Product description	Exercising/ exercised against	Number of securities	Exercise price per unit


(d)	Other dealings (including subscribing for new securities)
Class of relevant security	Nature of Dealings	Details	Price per unit (if 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 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 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:				28-May-24
Contact name:				Large Holdings Regulatory Operations
Telephone number:				020 3134 7213