Form 8.5 EPT/Non RI GAMMA COMMUNICATIONS PLC

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

GAMMA COMMUNICATIONS PLC

relevant securities this form relates:

(c)

Name of the party to the offer with which exempt

GAMMA COMMUNICATIONS PLC

principal trader is connected

(d)

Date position held/dealing undertaken:

04 Jun 2026

(e)

In addition to the company in 1(b) above, is the exempt principal

NO

trader making disclosures in respect of any other party to the offer?

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:

0.25p ordinary

Interests

Short Positions

Number

(%)

Number

(%)

(1)

Relevant securities owned

and/or controlled:

1,271,740

1.41%

1,168,218

1.29%

(2)

Cash-settled derivatives:

and/or controlled:

1,143,190

1.27%

1,269,731

1.41%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

2,414,930

2.67%

2,437,949

2.70%

(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)

Purchases and sales

Class of relevant

Purchase/sale

Total number of

Highest price per unit

Lowest price per unit

security

securities

paid/received

paid/received

0.25p ordinary

Purchase

52,267

9.5650 GBP

9.4400 GBP

0.25p ordinary

Sale

92,608

9.5651 GBP

9.4400 GBP

(b)

Cash-settled derivative transactions

Class of

Product

Nature of dealing

Number of

Price per

relevant

description

reference

unit

security

securities

0.25p ordinary

SWAP

Increasing Long

1,526

9.5418 GBP

0.25p ordinary

SWAP

Increasing Short

637

9.5404 GBP

0.25p ordinary

SWAP

Increasing Short

382

9.5600 GBP

0.25p ordinary

SWAP

Increasing Short

37

9.5288 GBP

0.25p ordinary

SWAP

Decreasing Long

145

9.5281 GBP

0.25p ordinary

SWAP

Increasing Long

1,307

9.5400 GBP

0.25p ordinary

SWAP

Increasing Short

29

9.5400 GBP

0.25p ordinary

SWAP

Closing Short

12,853

9.5400 GBP

0.25p ordinary

SWAP

Opening Long

1,623

9.5400 GBP

0.25p ordinary

SWAP

Decreasing Short

3,972

9.5400 GBP

0.25p ordinary

SWAP

Increasing Long

1

9.5403 GBP

0.25p ordinary

SWAP

Increasing Long

3

9.5403 GBP

0.25p ordinary

SWAP

Increasing Long

2,042

9.5406 GBP

0.25p ordinary

SWAP

Decreasing Long

451

9.4800 GBP

0.25p ordinary

SWAP

Increasing Long

5

9.5403 GBP

0.25p ordinary

SWAP

Increasing Long

85

9.5403 GBP

0.25p ordinary

SWAP

Increasing Long

1,796

9.4800 GBP

0.25p ordinary

SWAP

Increasing Long

5

9.4400 GBP

0.25p ordinary

SWAP

Increasing Long

132

9.5400 GBP

0.25p ordinary

SWAP

Increasing Long

6

9.4550 GBP

0.25p ordinary

SWAP

Decreasing Long

21

9.5400 GBP

0.25p ordinary

SWAP

Decreasing Long

75

9.5400 GBP

0.25p ordinary

SWAP

Decreasing Long

61

9.5400 GBP

0.25p ordinary

SWAP

Increasing Short

2,813

9.5088 GBP

0.25p ordinary

SWAP

Decreasing Short

480

9.5400 GBP

0.25p ordinary

SWAP

Closing Short

6

9.4550 GBP

0.25p ordinary

SWAP

Increasing Long

1,456

9.5169 GBP

0.25p ordinary

SWAP

Increasing Long

542

9.5169 GBP

0.25p ordinary

CFD

Increasing Long

2,440

9.5233 GBP

0.25p ordinary

SWAP

Increasing Long

235

9.4800 GBP

0.25p ordinary

SWAP

Decreasing Short

667

9.5395 GBP

0.25p ordinary

SWAP

Decreasing Short

38

9.5099 GBP

0.25p ordinary

SWAP

Closing Short

127

9.4898 GBP

0.25p ordinary

SWAP

Opening Long

57

9.4898 GBP

0.25p ordinary

SWAP

Increasing Long

382

9.5049 GBP

0.25p ordinary

SWAP

Increasing Long

156

9.5650 GBP

0.25p ordinary

SWAP

Decreasing Short

58

9.5450 GBP

0.25p ordinary

SWAP

Decreasing Long

3,751

9.4800 GBP

0.25p ordinary

SWAP

Increasing Long

216

9.4800 GBP

0.25p ordinary

SWAP

Decreasing Long

3,921

9.5402 GBP

0.25p ordinary

SWAP

Increasing Long

880

9.5188 GBP

0.25p ordinary

SWAP

Decreasing Long

1

9.4750 GBP

0.25p ordinary

SWAP

Decreasing Long

1

9.5426 GBP

0.25p ordinary

SWAP

Decreasing Long

18

9.5193 GBP

0.25p ordinary

SWAP

Increasing Short

1,406

9.5118 GBP

0.25p ordinary

SWAP

Decreasing Short

502

9.4907 GBP

0.25p ordinary

SWAP

Increasing Long

1,955

9.4800 GBP

0.25p ordinary

SWAP

Decreasing Short

892

9.4550 GBP

0.25p ordinary

SWAP

Decreasing Long

15

9.4900 GBP

0.25p ordinary

SWAP

Decreasing Long

62

9.4900 GBP

0.25p ordinary

SWAP

Decreasing Short

899

9.4795 GBP

0.25p ordinary

SWAP

Decreasing Long

3,013

9.4875 GBP

0.25p ordinary

SWAP

Increasing Long

86

9.4850 GBP

0.25p ordinary

SWAP

Decreasing Long

1

9.5650 GBP

0.25p ordinary

SWAP

Decreasing Long

343

9.5176 GBP

0.25p ordinary

SWAP

Increasing Long

1

9.5175 GBP

0.25p ordinary

SWAP

Increasing Long

12

9.4723 GBP

0.25p ordinary

SWAP

Increasing Short

1,406

9.6476 GBP

0.25p ordinary

SWAP

Decreasing Short

597

9.4959 GBP

0.25p ordinary

SWAP

Increasing Long

94

9.4850 GBP

0.25p ordinary

SWAP

Closing Long

42

9.5400 GBP

0.25p ordinary

SWAP

Increasing Long

90

9.5644 GBP

0.25p ordinary

SWAP

Decreasing Short

100

9.5253 GBP

0.25p ordinary

SWAP

Decreasing Long

180

9.4850 GBP

0.25p ordinary

SWAP

Increasing Long

1,443

9.4875 GBP

0.25p ordinary

SWAP

Decreasing Long

8

9.5328 GBP

0.25p ordinary

SWAP

Increasing Long

174

9.5400 GBP

0.25p ordinary

SWAP

Decreasing Long

6

9.4726 GBP

0.25p ordinary

SWAP

Increasing Long

1

9.4745 GBP

0.25p ordinary

SWAP

Decreasing Short

2,386

9.5243 GBP

0.25p ordinary

SWAP

Increasing Long

1,570

9.4875 GBP

0.25p ordinary

SWAP

Decreasing Short

115

9.5181 GBP

0.25p ordinary

SWAP

Increasing Long

2,310

9.5317 GBP

0.25p ordinary

SWAP

Increasing Long

2,940

9.5337 GBP

0.25p ordinary

SWAP

Decreasing Long

593

9.5066 GBP

0.25p ordinary

SWAP

Increasing Long

13

9.5423 GBP

0.25p ordinary

SWAP

Increasing Short

64

9.5000 GBP

0.25p ordinary

SWAP

Increasing Long

3,205

9.5337 GBP

0.25p ordinary

SWAP

Closing Short

29

9.5650 GBP

0.25p ordinary

SWAP

Increasing Long

787

9.5248 GBP

0.25p ordinary

SWAP

Decreasing Long

166

9.5400 GBP

0.25p ordinary

SWAP

Decreasing Long

99

9.4400 GBP

0.25p ordinary

SWAP

Increasing Long

527

9.4849 GBP

0.25p ordinary

SWAP

Decreasing Long

265

9.5300 GBP

0.25p ordinary

SWAP

Decreasing Long

2,543

9.5184 GBP

0.25p ordinary

SWAP

Increasing Long

3,697

9.5021 GBP

(c)

Stock-settled derivative transactions (including options)

(i)

Writing, selling, purchasing or varying

Class

Product

Writing,

Number

Exercise

Type

Expiry

Option

of

description

purchasing,

of

price

date

money

relevant

selling,

securities

per unit

paid/

security

varying etc

to which

received

option

per unit

relates

(ii)

Exercising

Class of relevant

Product description

Exercising/ exercised against

Number of

Exercise price per

security

securities

unit

(d)

Other dealings (including subscribing for new securities)

Class of relevant

Nature of Dealings

Details

Price per unit (if

security

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:

05 Jun 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213