The Vanguard Group Discloses Position on Dowlais Group and American Axle

The Vanguard Group, Inc. has filed a Form 8.3 involving Dowlais Group plc, complying with Rule 8.3 of the Takeover Code. This form reveals the public opening position disclosure or dealing disclosure for interests representing 1% or more in relevant securities. As of November 5, 2025, Vanguard disclosed interests in Dowlais Group, holding 72,497,116 ordinary shares, which equates to 5.51% ownership.

The disclosure involves not only Dowlais Group but also includes interests in American Axle & Manufacturing Holdings, Inc. During recent transactions, Vanguard purchased 8,502 ordinary shares at 0.83 GBP each and sold 90,390 shares at the same unit price. No cash-settled derivatives or stock-settled derivatives were reported in the filing.

No indemnity or option arrangements were noted, with Vanguard also confirming the lack of agreements or understandings regarding voting rights or disposals related to options or derivatives. The filing includes no attachments related to open positions.