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Form 8.3

businesswire.com
AXL The article details a Form 8.3 disclosure by Millennium International Management LP regarding their positions and dealings in American Axle & Manufacturing Holdings, Inc. The disclosure shows a mix of purchases and sales, and a reduction in a long position via an equity swap, indicating no strong directional bias. DOW The article mentions Dowlais Group plc as another party to an offer in which Millennium International Management LP is making disclosures. No specific details about positions or dealings in Dowlais Group plc are provided, making the sentiment neutral.

LONDON--( BUSINESS WIRE)--

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:

Millennium International Management LP

(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 relevant securities this form relates:

Use a separate form for each offeror/offeree

American Axle & Manufacturing Holdings, Inc.

(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:

For an opening position disclosure, state the latest practicable date prior to the disclosure

23 rd December 2025

(f) In addition to the company in 1(c) above, is the 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”

Yes, Dowlais Group plc

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:

USD 0.01 common (US0240611030)

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

3,880,710

3.269%

749,316

0.631%

(2) Cash-settled derivatives:

11,068

0.009%

5,359,929

4.516%

(3) Stock-settled derivatives (including options) and agreements to purchase/sell:

-

-

-

-

TOTAL:

3,891,778

3.279%

6,109,245

5.147%

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 (USD)

US0240611030

Purchase

104

6.39

US0240611030

Purchase

19

6.40

US0240611030

Purchase

2,000

6.43

US0240611030

Purchase

2,013

6.41

US0240611030

Purchase

2,006

6.37

US0240611030

Purchase

1

6.36

US0240611030

Purchase

11,314

6.39

US0240611030

Purchase

1,196

6.40

US0240611030

Sale

576

6.40

US0240611030

Purchase

400

6.43

US0240611030

Purchase

703

6.41

US0240611030

Purchase

1,594

6.38

US0240611030

Purchase

504

6.37

US0240611030

Purchase

300

6.42

US0240611030

Purchase

20

6.35

US0240611030

Purchase

4,660

6.39

US0240611030

Sale

2,225

6.39

US0240611030

Purchase

1,121

6.40

US0240611030

Sale

1

6.40

US0240611030

Purchase

1,187

6.43

US0240611030

Purchase

288

6.41

US0240611030

Purchase

1,187

6.38

US0240611030

Sale

1,235

6.38

US0240611030

Purchase

1,265

6.37

US0240611030

Purchase

379

6.42

US0240611030

Sale

55

6.46

US0240611030

Purchase

111

6.44

US0240611030

Purchase

155

6.39

US0240611030

Sale

25,014

6.39

US0240611030

Purchase

207

6.40

US0240611030

Sale

9,132

6.40

US0240611030

Sale

1

6.41

US0240611030

Sale

9,062

6.38

US0240611030

Sale

1

6.37

US0240611030

Purchase

20

6.42

US0240611030

Purchase

125

6.35

US0240611030

Purchase

145

6.46

US0240611030

Sale

6

6.46

US0240611030

Purchase

483

6.39

US0240611030

Sale

2,386

6.39

US0240611030

Purchase

504

6.40

US0240611030

Sale

1,505

6.40

US0240611030

Purchase

2

6.43

US0240611030

Purchase

6

6.41

US0240611030

Sale

5

6.41

US0240611030

Purchase

376

6.38

US0240611030

Sale

102

6.38

US0240611030

Purchase

17

6.37

US0240611030

Purchase

17

6.42

US0240611030

Purchase

1

6.36

US0240611030

Sale

6

6.36

US0240611030

Sale

139

6.35

US0240611030

Sale

504

6.46

US0240611030

Purchase

312

6.39

US0240611030

Sale

3,216

6.39

US0240611030

Purchase

76

6.40

US0240611030

Sale

304

6.40

US0240611030

Sale

55

6.38

US0240611030

Purchase

129

6.37

(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

US0240611030

Equity Swap

Reducing a long Position

761

6.39 USD

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

(i) Writing, selling, purchasing or varying

Class of relevant security

Product description e.g. call option

Writing, purchasing, selling, varying etc.

Number of securities to which option relates

Exercise price per unit

Type

e.g. American, European etc.

Expiry date

Option money paid/ received per unit

(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 security

Nature of dealing

e.g. subscription, conversion

Details

Price per unit (if 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?

NO

Date of disclosure:

24 th December 2025

Contact name:

Stephen Glasper

Telephone number:

+44 203 398 2166

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at monitoring@disclosure.org.uk. 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.