Glencore PLC — M&A Activity 2026

Jan 28, 2026

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Glencore plc

(Incorporated in Jersey under the Companies (Jersey) Law 1991)

(Registration number 107710) JSE Share Code: GLN

LSE Share Code: GLEN ISIN: JE00B4T3BW64

LEI: 2138002658CPO9NBH955

Baar, Switzerland 28 January 2026

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE

Rule 8.3 of the Takeover Code (the "Code")

1. KEY INFORMATION

(a) Full name of discloser:	Tor Peterson
(b) Owner or controller of interests and short
positions disclosed, if different from 1(a):
The naming of nominee or vehicle companies is
insufficient. For a trust, the trustee(s), settlor and
beneficiaries must be named.
(c) Name of offeror/offeree in relation to whose	Glencore PLC
relevant securities this form relates:
Use a separate form for each offeror/offeree
(d) If an exempt fund manager connected with an
offeror/offeree, state this and specify identity of offeror/offeree:
(e) Date position held/dealing undertaken:	28 January 2026
For an opening position disclosure, state the latest
practicable date prior to the disclosure
(f) In addition to the company in 1(c) above, is the	NO
discloser making disclosures in respect of any
other party to the offer?
If it is a cash offer or possible cash offer, state "N/A"

2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(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:	Ordinary shares, JE00B4T3BW64 (GLEN LN)
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	280,752,344	2.39
(2) Cash-settled derivatives:

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(3) Stock-settled derivatives (including options) and agreements to purchase/sell:			280,752,344	2.39
TOTAL:	280,752,344	2.39	280,752,344	2.39

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b) Rights to subscribe for new securities (including directors' and other employee 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 PERSON MAKING THE DISCLOSURE

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(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	Purchase/sale	Number of securities	Price per unit

(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

(c) Stock-settled derivative transactions (including options)

(i) Writing, selling, purchasing or varying

Class of relevant security	Product descripti on e.g. call option	Writing, purchasin g, selling, varying etc.	Number of securitie s to which option relates	Exercise price per unit	Type e.g. American, European etc.	Expiry date	Option money paid/ received per unit
Ordinary shares (JE00B4T3BW64)	Call Option	Purchased	5,000,000	GBP 3.52	European	20-Mar-26	GBP 0*
Ordinary shares (JE00B4T3BW64)	Call Option	Written	5,000,000	GBP 3.57	European	18-Dec-26	GBP 0*
Ordinary shares	Call	Purchased	5,000,000	GBP 4.135	European	02-Apr-26	GBP 0*

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(JE00B4T3BW64)	Option
Ordinary shares	Call	Written	5,000,000	GBP 4.31	European	18-Dec-26	GBP 0*
(JE00B4T3BW64)	Option

^*Zero-Cost Derivative Position Roll

(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	Nature of dealing	Details	Price per unit (if
security	e.g. subscription, conversion		applicable)

4. 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 person 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 person 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

(c) Attachments

Is a Supplemental Form 8 (Open Positions) attached?	YES

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Date of disclosure:	28 January 2026
Contact name:	Tor Peterson
Telephone number*:

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 disclosure requirements on +44 (0)20 7638 0129.

*If the discloser is a natural person, a telephone number does not need to be included, provided contact information has been provided to the Panel's Market Surveillance Unit.

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

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SUPPLEMENTAL FORM 8 (OPEN POSITIONS)

DETAILS OF OPEN STOCK-SETTLED DERIVATIVE (INCLUDING OPTION) POSITIONS, AGREEMENTS TO PURCHASE OR SELL ETC. Note 5(i) on Rule 8 of the Takeover Code (the "Code")

1. KEY INFORMATION

Full name of person making disclosure:	Tor Peterson
Name of offeror/offeree in relation to whose relevant securities the disclosure relates:	Glencore PLC

2. STOCK-SETTLED DERIVATIVES (INCLUDING OPTIONS)

Class of relevant security	Product description e.g. call option	Written or purchased	Number of securities to which option or derivative relates	Exercise price per unit	Type e.g. American, European etc.	Expiry date
Ordinary shares (JE00B4T3BW64)	Call Option	Written	2,446,000	GBP 3.5	European	20-Mar-26
Ordinary shares (JE00B4T3BW64)	Call Option	Written	16,000,000	GBP 3.25	European	02-Apr-26
Ordinary shares (JE00B4T3BW64)	Call Option	Written	52,000,000	GBP 3.5	European	02-Apr-26
Ordinary shares (JE00B4T3BW64)	Call Option	Written	9,387,329	GBP 3.75	European	02-Apr-26
Ordinary shares (JE00B4T3BW64)	Call Option	Written	5,000,000	GBP 3.412	European	19-Jun-26
Ordinary shares (JE00B4T3BW64)	Call Option	Written	5,000,000	GBP 3.455	European	19-Jun-26
Ordinary shares (JE00B4T3BW64)	Call Option	Written	5,000,000	GBP 3.457	European	19-Jun-26
Ordinary shares (JE00B4T3BW64)	Call Option	Written	5,000,000	GBP 3.75	European	19-Jun-26
Ordinary shares (JE00B4T3BW64)	Call Option	Written	5,000,000	GBP 3.775	European	19-Jun-26
Ordinary shares (JE00B4T3BW64)	Call Option	Written	5,000,000	GBP 3.815	European	19-Jun-26
Ordinary shares (JE00B4T3BW64)	Call Option	Written	1,230,301	GBP 3.88	European	19-Jun-26
Ordinary shares	Call Option	Written	10,000,000	GBP 4	European	19-Jun-26

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Ordinary shares Call Option Written 1,022,676 GBP 4.14 European 19-Jun-26 (JE00B4T3BW64) Ordinary shares Call Option Written 5,000,000 GBP 3.75 European 21-Aug-26 (JE00B4T3BW64) Ordinary shares Call Option Written 5,000,000 GBP 4 European 21-Aug-26 (JE00B4T3BW64) Ordinary shares Call Option Written 5,000,000 GBP 4.14 European 21-Aug-26 (JE00B4T3BW64) Ordinary shares Call Option Written 5,000,000 GBP 3.66 European 16-Oct-26 (JE00B4T3BW64) Ordinary shares Call Option Written 947,000 GBP 3.72 European 16-Oct-26 (JE00B4T3BW64) Ordinary shares Call Option Written 5,000,000 GBP 3.74 European 16-Oct-26 (JE00B4T3BW64) Ordinary shares Call Option Written 1,053,000 GBP 3.78 European 16-Oct-26 (JE00B4T3BW64) Ordinary shares Call Option Written 5,000,000 GBP 3.88 European 16-Oct-26 (JE00B4T3BW64) Ordinary shares Call Option Written 4,165,000 GBP 3.92 European 16-Oct-26 (JE00B4T3BW64) Ordinary shares Call Option Written 835,000 GBP 3.94 European 16-Oct-26 (JE00B4T3BW64) Ordinary shares Call Option Written 20,000,000 GBP 4 European 16-Oct-26 (JE00B4T3BW64) Ordinary shares Call Option Written 1,022,676 GBP 4.09 European 16-Oct-26 (JE00B4T3BW64) Ordinary shares Call Option Written 1,022,676 GBP 4.27 European 16-Oct-26 (JE00B4T3BW64) Ordinary shares Call Option Written 2,448,635 GBP 4.31 European 16-Oct-26 (JE00B4T3BW64) Ordinary shares Call Option Written 1,022,676 GBP 4.35 European 16-Oct-26 (JE00B4T3BW64) Ordinary shares Call Option Written 5,000,000 GBP 3.28 European 18-Dec-26 (JE00B4T3BW64) Ordinary shares Call Option Written 5,000,000 GBP 3.57 European 18-Dec-26 (JE00B4T3BW64) Ordinary shares Call Option Written 1,000,000 GBP 3.575 European 18-Dec-26	(JE00B4T3BW64)
	(JE00B4T3BW64)

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Ordinary shares	Call Option	Written	5,000,000	GBP 3.66	European	18-Dec-26
(JE00B4T3BW64)
Ordinary shares	Call Option	Written	5,000,000	GBP 3.7	European	18-Dec-26
(JE00B4T3BW64)
Ordinary shares	Call Option	Written	5,000,000	GBP 3.84	European	18-Dec-26
(JE00B4T3BW64)
Ordinary shares	Call Option	Written	2,612,671	GBP 3.848	European	18-Dec-26
(JE00B4T3BW64)
Ordinary shares	Call Option	Written	5,000,000	GBP 3.98	European	18-Dec-26
(JE00B4T3BW64)
Ordinary shares	Call Option	Written	5,000,000	GBP 4	European	18-Dec-26
(JE00B4T3BW64)
Ordinary shares	Call Option	Written	5,000,000	GBP 4.01	European	18-Dec-26
(JE00B4T3BW64)
Ordinary shares	Call Option	Written	1,000,000	GBP 4.07	European	18-Dec-26
(JE00B4T3BW64)
Ordinary shares	Call Option	Written	5,000,000	GBP 4.09	European	18-Dec-26
(JE00B4T3BW64)
Ordinary shares	Call Option	Written	2,446,000	GBP 4.185	European	18-Dec-26
(JE00B4T3BW64)
Ordinary shares	Call Option	Written	5,000,000	GBP 4.2	European	18-Dec-26
(JE00B4T3BW64)
Ordinary shares	Call Option	Written	5,000,000	GBP 4.31	European	18-Dec-26
(JE00B4T3BW64)
Ordinary shares	Call Option	Written	4,090,704	GBP 4.38	European	18-Dec-26
(JE00B4T3BW64)
Ordinary shares	Call Option	Written	5,000,000	GBP 3.31	European	15-Jan-27
(JE00B4T3BW64)
Ordinary shares	Call Option	Written	5,000,000	GBP 3.37	European	15-Jan-27
(JE00B4T3BW64)
Ordinary shares	Call Option	Written	5,000,000	GBP 3.56	European	15-Jan-27
(JE00B4T3BW64)
Ordinary shares	Call Option	Written	5,000,000	GBP 3.586	European	15-Jan-27
(JE00B4T3BW64)
Ordinary shares	Call Option	Written	5,000,000	GBP 3.605	European	15-Jan-27
(JE00B4T3BW64)
Ordinary shares	Call Option	Written	5,000,000	GBP 3.72	European	15-Jan-27
(JE00B4T3BW64)

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3. AGREEMENTS TO PURCHASE OR SELL ETC.

Full details should be given so that the nature of the interest or position can be fully understood:

It is not necessary to provide details on a Supplemental Form (Open Positions) with regard to cash-settled derivatives.

The currency of all prices and other monetary amounts should be stated.

The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

Sponsor

Absa Corporate and Investment Bank, a division of Absa Bank Limited