<div id="readability-page-1"><div><table><tbody><tr><td colspan="8">FORM 8.5 (EPT/NON-RI)</td></tr><tr><td colspan="8">PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY AN</td></tr><tr><td colspan="8">EXEMPT PRINCIPAL TRADER WITHOUT RECOGNISED INTERMEDIARY (&#34;RI&#34;) STATUS</td></tr><tr><td colspan="8">(OR WHERE RI STATUS IS NOT APPLICABLE)</td></tr><tr><td colspan="8">Rule 8.5 of the Takeover Code (the &#34;Code&#34;)</td></tr><tr><td colspan="4">1.</td><td colspan="4">KEY INFORMATION</td></tr><tr><td>(a)</td><td colspan="3">Name of exempt principal trader:</td><td></td><td colspan="3">BARCLAYS CAPITAL SECURITIES LTD</td></tr><tr><td>(b)</td><td colspan="3">Name of offeror/offeree in relation to whose</td><td></td><td colspan="3" rowspan="2">AMERICAN AXLE &amp; MANUFACTURING HOLDINGS, INC.</td></tr><tr><td></td><td colspan="3">relevant securities this form relates:</td><td></td></tr><tr><td>(c)</td><td colspan="4">Name of the party to the offer with which exempt</td><td colspan="3" rowspan="2">DOWLAIS GROUP PLC</td></tr><tr><td></td><td colspan="2">principal trader is connected</td><td></td><td></td></tr><tr><td>(d)</td><td colspan="3">Date position held/dealing undertaken:</td><td></td><td colspan="3">14 Jan 2026</td></tr><tr><td>(e)</td><td colspan="4">In addition to the company in 1(b) above, is the exempt principal</td><td>YES:</td><td></td><td></td></tr><tr><td></td><td colspan="4">trader making disclosures in respect of any other party to the offer?</td><td colspan="2">DOWLAIS GROUP PLC</td><td></td></tr><tr><td colspan="4">2.</td><td colspan="4">POSITIONS OF THE EXEMPT PRINCIPAL TRADER</td></tr><tr><td>(a)</td><td colspan="6">Interests and short positions in the relevant securities of the offeror or offeree</td><td></td></tr><tr><td></td><td colspan="6">to which the disclosure relates following the dealing (if any)</td><td></td></tr><tr><td colspan="4">Class of relevant security:</td><td colspan="4">USD 0.01 common</td></tr><tr><td colspan="4"></td><td colspan="2">Interests</td><td colspan="2">Short Positions</td></tr><tr><td colspan="4"></td><td>Number</td><td>(%)</td><td>Number</td><td>(%)</td></tr><tr><td>(1)</td><td colspan="3">Relevant securities owned</td><td></td><td></td><td></td><td></td></tr><tr><td></td><td>and/or controlled:</td><td></td><td></td><td>574,186</td><td>0.48%</td><td>208,424</td><td>0.18%</td></tr><tr><td>(2)</td><td colspan="3">Cash-settled derivatives:</td><td></td><td></td><td></td><td></td></tr><tr><td></td><td>and/or controlled:</td><td></td><td></td><td>0</td><td>0.00%</td><td>399,446</td><td>0.34%</td></tr><tr><td>(3)</td><td colspan="3">Stock-settled derivatives (including options)</td><td></td><td></td><td></td><td></td></tr><tr><td></td><td>and agreements to purchase/sell:</td><td></td><td></td><td>0</td><td>0.00%</td><td>0</td><td>0.00%</td></tr><tr><td></td><td>TOTAL:</td><td></td><td></td><td>574,186</td><td>0.48%</td><td>607,870</td><td>0.51%</td></tr><tr><td>(b)</td><td colspan="6">Rights to subscribe for new securities (including directors and other executive</td><td></td></tr><tr><td></td><td>options)</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="4">Class of relevant security in relation to</td><td></td><td></td><td></td><td></td></tr><tr><td colspan="4">which subscription right exists</td><td></td><td></td><td></td><td></td></tr><tr><td colspan="4">Details, including nature of the rights</td><td></td><td></td><td></td><td></td></tr><tr><td colspan="4">concerned and relevant percentages:</td><td></td><td></td><td></td><td></td></tr><tr><td colspan="4">3.</td><td colspan="4">DEALINGS (IF ANY) BY THE EXEMPT PRINCIPAL TRADER</td></tr><tr><td>(a)</td><td colspan="2">Purchases and sales</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="2">Class of relevant</td><td colspan="2">Purchase/sale</td><td colspan="2">Total number of</td><td>Highest price per unit</td><td>Lowest price per unit</td></tr><tr><td colspan="2">security</td><td colspan="2"></td><td colspan="2">securities</td><td>paid/received</td><td>paid/received</td></tr><tr><td colspan="2">USD 0.01 common</td><td colspan="2">Purchase</td><td colspan="2">303,861</td><td>7.9200 USD</td><td>7.6800 USD</td></tr><tr><td colspan="2">USD 0.01 common</td><td colspan="2">Sale</td><td colspan="2">325,896</td><td>7.9100 USD</td><td>7.6850 USD</td></tr><tr><td>(b)</td><td colspan="6">Cash-settled derivative transactions</td><td></td></tr><tr><td colspan="2">Class of</td><td colspan="2">Product</td><td colspan="2">Nature of dealing</td><td>Number of</td><td>Price per</td></tr><tr><td colspan="2">relevant</td><td colspan="2">description</td><td colspan="2"></td><td>reference</td><td>unit</td></tr><tr><td colspan="2">security</td><td colspan="2"></td><td colspan="2"></td><td>securities</td><td></td></tr><tr><td colspan="2"></td><td colspan="2"></td><td colspan="2"></td><td></td><td></td></tr><tr><td>(c)</td><td colspan="6">Stock-settled derivative transactions (including options)</td><td></td></tr><tr><td>(i)</td><td colspan="6">Writing, selling, purchasing or varying</td><td></td></tr><tr><td>Class</td><td>Product</td><td>Writing,</td><td>Number</td><td>Exercise</td><td>Type</td><td>Expiry</td><td>Option</td></tr><tr><td>of</td><td>description</td><td>purchasing,</td><td>of</td><td>price</td><td></td><td>date</td><td>money</td></tr><tr><td>relevant</td><td></td><td>selling,</td><td>securities</td><td>per unit</td><td></td><td></td><td>paid/</td></tr><tr><td>security</td><td></td><td>varying etc</td><td>to which</td><td></td><td></td><td></td><td>received</td></tr><tr><td></td><td></td><td></td><td>option</td><td></td><td></td><td></td><td>per unit</td></tr><tr><td></td><td></td><td></td><td>relates</td><td></td><td></td><td></td><td></td></tr><tr><td>(ii)</td><td>Exercising</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="2">Class of relevant</td><td colspan="2">Product description</td><td colspan="2">Exercising/ exercised against</td><td>Number of</td><td>Exercise price per</td></tr><tr><td colspan="2">security</td><td colspan="2"></td><td colspan="2"></td><td>securities</td><td>unit</td></tr><tr><td colspan="2"></td><td colspan="2"></td><td colspan="2"></td><td></td><td></td></tr><tr><td>(d)</td><td colspan="6">Other dealings (including subscribing for new securities)</td><td></td></tr><tr><td colspan="2">Class of relevant</td><td colspan="2">Nature of Dealings</td><td colspan="2">Details</td><td colspan="2">Price per unit (if</td></tr><tr><td colspan="2">security</td><td colspan="2"></td><td colspan="2"></td><td colspan="2">applicable)</td></tr><tr><td colspan="2"></td><td colspan="2"></td><td colspan="2"></td><td colspan="2"></td></tr><tr><td colspan="4">4.</td><td colspan="4">OTHER INFORMATION</td></tr><tr><td>(a)</td><td colspan="6">Indemnity and other dealings arrangements</td><td></td></tr><tr><td colspan="6">Details of any indemnity or option arrangement, or any agreement or understanding,</td><td></td><td></td></tr><tr><td colspan="6">formal or informal, relating to relevant securities which may be an inducement to deal</td><td></td><td></td></tr><tr><td colspan="7">or refrain from dealing entered into by the exempt principal trader making the disclosure and any party</td><td></td></tr><tr><td colspan="5">to the offer or any person acting in concert with a party to the offer:</td><td></td><td></td><td></td></tr><tr><td colspan="8">NONE</td></tr><tr><td>(b)</td><td colspan="6">Agreements, arrangements or understandings relating to options or derivatives</td><td></td></tr><tr><td colspan="6">Details of any agreement, arrangement or understanding, formal or informal, between</td><td></td><td></td></tr><tr><td colspan="6">the exempt principal trader making the disclosure and any other person relating to:</td><td></td><td></td></tr><tr><td colspan="5">(i) the voting rights of any relevant securities under any option; or</td><td></td><td></td><td></td></tr><tr><td colspan="6">(ii) the voting rights of future acquisition or disposal of any relevant securities to which</td><td></td><td></td></tr><tr><td colspan="2">any derivative is referenced:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="8">NONE</td></tr><tr><td>(c)</td><td>Attachments</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="4">Is a Supplemental Form 8 (Open Positions) attached?</td><td colspan="4">NO</td></tr><tr><td colspan="4">Date of disclosure:</td><td colspan="4">15 Jan 2026</td></tr><tr><td colspan="4">Contact name:</td><td colspan="4">Large Holdings Regulatory Operations</td></tr><tr><td colspan="4">Telephone number:</td><td colspan="4">020 3134 7213</td></tr></tbody></table></div>RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such 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BARC

Barclays Capital Securities Ltd disclosed its position regarding American Axle & Manufacturing Holdings, Inc. and Dowlais Group PLC as of January 14, 2026. The firm holds 574,186 relevant securities (0.48%) and has short positions of 208,424 (0.18%). Recent dealings include the purchase of 303,861 securities at a price of $7.92 and the sale of 325,896 at $7.91. No indemnity or option arrangements were reported. The disclosure was made on January 15, 2026.

REG - Barclays PLC Dowlais Group PLC - Form8.5EPT/NonRIAMERICANAXLE&MANUFACTURINGHOLDINGS