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:

10 Apr 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:

1,677,019

1.84%

508,780

0.56%

(2)

Cash-settled derivatives:

and/or controlled:

431,876

0.47%

1,651,056

1.81%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

2,108,895

2.32%

2,159,836

2.37%

(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

172,077

8.6100 GBP

8.2300 GBP

0.25p ordinary

Sale

148,846

8.6100 GBP

8.2200 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

Decreasing Short

227

8.2235 GBP

0.25p ordinary

SWAP

Decreasing Short

1

8.2240 GBP

0.25p ordinary

SWAP

Decreasing Short

1

8.2298 GBP

0.25p ordinary

SWAP

Decreasing Short

11

8.2478 GBP

0.25p ordinary

SWAP

Decreasing Short

1,065

8.2615 GBP

0.25p ordinary

SWAP

Decreasing Short

7,523

8.2620 GBP

0.25p ordinary

SWAP

Decreasing Short

38

8.2795 GBP

0.25p ordinary

SWAP

Decreasing Short

8,302

8.2843 GBP

0.25p ordinary

SWAP

Decreasing Short

121

8.2900 GBP

0.25p ordinary

SWAP

Decreasing Short

657

8.2913 GBP

0.25p ordinary

SWAP

Decreasing Short

2,611

8.2968 GBP

0.25p ordinary

SWAP

Decreasing Short

1,198

8.3153 GBP

0.25p ordinary

SWAP

Decreasing Short

4,719

8.3161 GBP

0.25p ordinary

SWAP

Decreasing Short

4,410

8.3748 GBP

0.25p ordinary

SWAP

Decreasing Short

1,347

8.3892 GBP

0.25p ordinary

SWAP

Decreasing Short

412

8.3909 GBP

0.25p ordinary

SWAP

Decreasing Short

1,549

8.3939 GBP

0.25p ordinary

SWAP

Decreasing Short

1,659

8.4137 GBP

0.25p ordinary

SWAP

Decreasing Short

256

8.4262 GBP

0.25p ordinary

SWAP

Decreasing Short

37,239

8.4298 GBP

0.25p ordinary

SWAP

Decreasing Short

7,272

8.4414 GBP

0.25p ordinary

SWAP

Decreasing Short

2,701

8.4478 GBP

0.25p ordinary

SWAP

Decreasing Short

36

8.4612 GBP

0.25p ordinary

SWAP

Decreasing Short

1,707

8.4689 GBP

0.25p ordinary

SWAP

Decreasing Short

15

8.4779 GBP

0.25p ordinary

SWAP

Decreasing Short

344

8.4965 GBP

0.25p ordinary

SWAP

Decreasing Short

9,781

8.4984 GBP

0.25p ordinary

SWAP

Decreasing Short

596

8.5008 GBP

0.25p ordinary

SWAP

Decreasing Short

700

8.5074 GBP

0.25p ordinary

SWAP

Decreasing Short

201

8.5120 GBP

0.25p ordinary

SWAP

Decreasing Short

903

8.5177 GBP

0.25p ordinary

SWAP

Decreasing Short

4

8.5599 GBP

0.25p ordinary

SWAP

Decreasing Short

3,500

8.5628 GBP

0.25p ordinary

SWAP

Decreasing Short

1

8.5800 GBP

0.25p ordinary

SWAP

Increasing Short

2

8.2301 GBP

0.25p ordinary

SWAP

Increasing Short

147

8.2436 GBP

0.25p ordinary

SWAP

Increasing Short

11

8.2481 GBP

0.25p ordinary

SWAP

Increasing Short

42,435

8.2620 GBP

0.25p ordinary

SWAP

Increasing Short

2,262

8.2624 GBP

0.25p ordinary

SWAP

Increasing Short

4,858

8.2644 GBP

0.25p ordinary

SWAP

Increasing Short

2,004

8.2729 GBP

0.25p ordinary

SWAP

Increasing Short

203

8.2823 GBP

0.25p ordinary

SWAP

Increasing Short

1

8.2860 GBP

0.25p ordinary

SWAP

Increasing Short

2,045

8.3060 GBP

0.25p ordinary

SWAP

Increasing Short

1,599

8.3063 GBP

0.25p ordinary

SWAP

Increasing Short

2,014

8.3257 GBP

0.25p ordinary

SWAP

Increasing Short

222

8.3375 GBP

0.25p ordinary

SWAP

Increasing Short

419

8.3462 GBP

0.25p ordinary

SWAP

Increasing Short

977

8.3565 GBP

0.25p ordinary

SWAP

Increasing Short

621

8.3567 GBP

0.25p ordinary

SWAP

Increasing Short

2,590

8.3626 GBP

0.25p ordinary

SWAP

Increasing Short

2

8.3670 GBP

0.25p ordinary

SWAP

Increasing Short

14,747

8.3803 GBP

0.25p ordinary

SWAP

Increasing Short

1,801

8.3917 GBP

0.25p ordinary

SWAP

Increasing Short

11,028

8.4028 GBP

0.25p ordinary

SWAP

Increasing Short

11,503

8.4205 GBP

0.25p ordinary

SWAP

Increasing Short

295

8.4412 GBP

0.25p ordinary

SWAP

Increasing Short

35

8.4681 GBP

0.25p ordinary

SWAP

Increasing Short

9

8.4728 GBP

0.25p ordinary

SWAP

Increasing Short

316

8.4780 GBP

0.25p ordinary

SWAP

Increasing Short

62

8.4820 GBP

0.25p ordinary

SWAP

Increasing Short

524

8.4885 GBP

0.25p ordinary

SWAP

Increasing Short

97

8.5029 GBP

0.25p ordinary

CFD

Increasing Long

79

8.2951 GBP

0.25p ordinary

CFD

Increasing Long

2,100

8.3942 GBP

0.25p ordinary

CFD

Increasing Long

169

8.4774 GBP

0.25p ordinary

CFD

Decreasing Long

8,714

8.5081 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:

13 Apr 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213