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:

14 Aug 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:

1,626,919

1.82%

233,103

0.26%

(2)

Cash-settled derivatives:

and/or controlled:

229,656

0.26%

1,596,764

1.79%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

1,856,575

2.08%

1,829,867

2.05%

(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

54,929

9.8050 GBP

9.7300 GBP

0.25p ordinary

Sale

50,210

9.8050 GBP

9.7300 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

281

9.7550 GBP

0.25p ordinary

SWAP

Decreasing Short

523

9.7545 GBP

0.25p ordinary

SWAP

Increasing Long

38

9.7450 GBP

0.25p ordinary

SWAP

Decreasing Short

1

9.7549 GBP

0.25p ordinary

SWAP

Increasing Short

144

9.7607 GBP

0.25p ordinary

SWAP

Increasing Short

160

9.7745 GBP

0.25p ordinary

SWAP

Increasing Long

7,345

9.7714 GBP

0.25p ordinary

SWAP

Decreasing Long

750

9.7890 GBP

0.25p ordinary

SWAP

Decreasing Short

304

9.7525 GBP

0.25p ordinary

SWAP

Opening Long

3,426

9.7550 GBP

0.25p ordinary

SWAP

Decreasing Short

7,408

9.7550 GBP

0.25p ordinary

SWAP

Decreasing Short

1,655

9.7550 GBP

0.25p ordinary

SWAP

Decreasing Long

45

9.7574 GBP

0.25p ordinary

SWAP

Decreasing Long

836

9.7574 GBP

0.25p ordinary

SWAP

Increasing Short

217

9.7538 GBP

0.25p ordinary

SWAP

Increasing Short

333

9.7522 GBP

0.25p ordinary

SWAP

Increasing Short

9,019

9.7549 GBP

0.25p ordinary

SWAP

Decreasing Long

330

9.7518 GBP

0.25p ordinary

SWAP

Decreasing Long

39

9.7326 GBP

0.25p ordinary

SWAP

Decreasing Long

97

9.7733 GBP

0.25p ordinary

SWAP

Decreasing Short

470

9.7550 GBP

0.25p ordinary

SWAP

Increasing Short

370

9.7544 GBP

0.25p ordinary

SWAP

Decreasing Long

3,596

9.7527 GBP

0.25p ordinary

SWAP

Decreasing Long

1,338

9.7527 GBP

0.25p ordinary

CFD

Decreasing Short

425

9.7732 GBP

0.25p ordinary

SWAP

Increasing Short

962

9.7622 GBP

0.25p ordinary

SWAP

Increasing Short

93

9.7407 GBP

0.25p ordinary

SWAP

Decreasing Short

949

9.7546 GBP

0.25p ordinary

SWAP

Decreasing Long

251

9.7561 GBP

0.25p ordinary

SWAP

Decreasing Short

596

9.7545 GBP

0.25p ordinary

SWAP

Decreasing Long

400

9.7371 GBP

0.25p ordinary

SWAP

Increasing Short

312

9.7911 GBP

0.25p ordinary

SWAP

Decreasing Long

133

9.7550 GBP

0.25p ordinary

SWAP

Increasing Long

125

9.7550 GBP

0.25p ordinary

SWAP

Increasing Short

205

9.7500 GBP

0.25p ordinary

SWAP

Decreasing Short

643

9.7551 GBP

0.25p ordinary

SWAP

Decreasing Short

161

9.7550 GBP

0.25p ordinary

SWAP

Decreasing Long

108

9.7771 GBP

0.25p ordinary

SWAP

Decreasing Long

128

9.7611 GBP

0.25p ordinary

SWAP

Decreasing Long

1

9.7551 GBP

0.25p ordinary

SWAP

Increasing Short

85

9.7525 GBP

0.25p ordinary

CFD

Increasing Short

131

9.7877 GBP

0.25p ordinary

SWAP

Decreasing Short

441

9.7515 GBP

0.25p ordinary

SWAP

Increasing Short

102

9.7837 GBP

0.25p ordinary

SWAP

Decreasing Long

152

9.7625 GBP

0.25p ordinary

SWAP

Decreasing Short

383

9.7550 GBP

0.25p ordinary

SWAP

Increasing Short

174

9.7677 GBP

0.25p ordinary

SWAP

Decreasing Long

405

9.7749 GBP

0.25p ordinary

SWAP

Decreasing Long

69

9.7441 GBP

0.25p ordinary

SWAP

Increasing Short

5,906

9.7550 GBP

0.25p ordinary

SWAP

Increasing Long

27

9.7825 GBP

0.25p ordinary

SWAP

Increasing Short

4

9.7575 GBP

0.25p ordinary

SWAP

Increasing Short

503

9.7509 GBP

0.25p ordinary

SWAP

Increasing Long

1

9.7548 GBP

0.25p ordinary

SWAP

Increasing Short

503

9.7556 GBP

0.25p ordinary

SWAP

Decreasing Short

65

9.7350 GBP

0.25p ordinary

SWAP

Increasing Short

392

9.7931 GBP

0.25p ordinary

SWAP

Decreasing Short

1,424

9.7550 GBP

0.25p ordinary

SWAP

Increasing Short

1,784

9.7575 GBP

0.25p ordinary

SWAP

Increasing Short

507

9.7748 GBP

0.25p ordinary

SWAP

Increasing Short

178

9.7450 GBP

0.25p ordinary

SWAP

Increasing Short

471

9.7886 GBP

0.25p ordinary

SWAP

Decreasing Short

88

9.7837 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:

17 Aug 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213