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:			31 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:				416,888	0.52%	290,867	0.36%
(2) Cash-settled derivatives:				285,931	0.36%	405,222	0.51%
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:				0	0.00%	0	0.00%
TOTAL:				702,819	0.88%	696,089	0.87%

(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	200848	22.3400 GBP	22.0984 GBP
1p ordinary	Sale	152027	22.3411 GBP	22.1008 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 Long	92	22.1200 GBP
1p ordinary	SWAP	Closing Long	192	22.2000 GBP
1p ordinary	SWAP	Closing Long	392	22.1644 GBP
1p ordinary	SWAP	Closing Long	24,629	22.3400 GBP
1p ordinary	SWAP	Decreasing Long	2	22.3201 GBP
1p ordinary	SWAP	Decreasing Long	213	22.2449 GBP
1p ordinary	SWAP	Decreasing Long	490	22.1571 GBP
1p ordinary	CFD	Decreasing Long	54,963	22.3400 GBP
1p ordinary	SWAP	Decreasing Short	178	22.2585 GBP
1p ordinary	SWAP	Decreasing Short	466	22.2450 GBP
1p ordinary	SWAP	Decreasing Short	1,047	22.2406 GBP
1p ordinary	SWAP	Decreasing Short	2,637	22.2038 GBP
1p ordinary	SWAP	Decreasing Short	13,898	22.3355 GBP
1p ordinary	SWAP	Decreasing Short	19,606	22.3400 GBP
1p ordinary	SWAP	Increasing Long	129	22.1946 GBP
1p ordinary	SWAP	Increasing Long	268	22.1934 GBP
1p ordinary	SWAP	Increasing Long	296	22.1008 GBP
1p ordinary	CFD	Increasing Long	375	22.1163 GBP
1p ordinary	SWAP	Increasing Long	537	22.1782 GBP
1p ordinary	SWAP	Increasing Long	932	22.2034 GBP
1p ordinary	SWAP	Increasing Long	1,283	22.1783 GBP
1p ordinary	CFD	Increasing Long	1,304	22.1684 GBP
1p ordinary	SWAP	Increasing Long	1,901	22.2037 GBP
1p ordinary	CFD	Increasing Long	54,963	22.3400 GBP
1p ordinary	SWAP	Increasing Short	71	22.2599 GBP
1p ordinary	SWAP	Increasing Short	2,500	22.1244 GBP
1p ordinary	SWAP	Increasing Short	2,733	22.1875 GBP
1p ordinary	SWAP	Increasing Short	75,000	22.2146 GBP
1p ordinary	SWAP	Opening Short	16	22.0000 GBP
1p ordinary	SWAP	Opening Short	88	22.1497 GBP
1p ordinary	SWAP	Opening Short	229	22.2462 GBP
1p ordinary	SWAP	Opening Short	7,597	22.1779 GBP
1p ordinary	SWAP	Opening Short	30,000	22.2146 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:				03 Jun 2024
Contact name:				Large Holdings Regulatory Operations
Telephone number:				020 3134 7213