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:			28 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:				348,467	0.44%	277,060	0.35%
(2) Cash-settled derivatives:				272,124	0.34%	336,835	0.42%
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:				0	0.00%	0	0.00%
TOTAL:				620,591	0.78%	613,895	0.77%

(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	14715	22.5400 GBP	22.1020 GBP
1p ordinary	Sale	38631	22.5422 GBP	22.1030 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	13,741	22.2000 GBP
1p ordinary	SWAP	Decreasing Long	41	22.3595 GBP
1p ordinary	SWAP	Decreasing Long	154	22.3977 GBP
1p ordinary	SWAP	Decreasing Long	399	22.4212 GBP
1p ordinary	SWAP	Decreasing Long	572	22.4334 GBP
1p ordinary	SWAP	Decreasing Long	621	22.3729 GBP
1p ordinary	SWAP	Decreasing Long	751	22.4957 GBP
1p ordinary	CFD	Decreasing Long	1,880	22.5017 GBP
1p ordinary	SWAP	Decreasing Short	267	22.4307 GBP
1p ordinary	SWAP	Decreasing Short	429	22.4311 GBP
1p ordinary	SWAP	Decreasing Short	608	22.4927 GBP
1p ordinary	SWAP	Decreasing Short	1,138	22.3694 GBP
1p ordinary	SWAP	Decreasing Short	1,760	22.5000 GBP
1p ordinary	SWAP	Increasing Long	304	22.4750 GBP
1p ordinary	CFD	Increasing Long	365	22.3873 GBP
1p ordinary	SWAP	Increasing Long	583	22.3618 GBP
1p ordinary	CFD	Increasing Long	608	22.4012 GBP
1p ordinary	SWAP	Increasing Long	955	22.3792 GBP
1p ordinary	CFD	Increasing Long	956	22.3597 GBP
1p ordinary	SWAP	Increasing Long	1,127	22.4992 GBP
1p ordinary	SWAP	Increasing Long	1,201	22.3571 GBP
1p ordinary	CFD	Increasing Long	1,293	22.4103 GBP
1p ordinary	SWAP	Increasing Long	1,544	22.3812 GBP
1p ordinary	SWAP	Increasing Long	2,457	22.3568 GBP
1p ordinary	SWAP	Increasing Long	3,940	22.5000 GBP
1p ordinary	SWAP	Increasing Short	2	22.3600 GBP
1p ordinary	SWAP	Increasing Short	990	22.4622 GBP
1p ordinary	SWAP	Increasing Short	1,201	22.4289 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:				29 May 2024
Contact name:				Large Holdings Regulatory Operations
Telephone number:				020 3134 7213