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:

03 Sep 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:

1,584,275

1.78%

223,876

0.25%

(2)

Cash-settled derivatives:

and/or controlled:

221,599

0.25%

1,557,236

1.75%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

1,805,874

2.03%

1,781,112

2.00%

(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

249,820

11.6405 GBP

11.5600 GBP

0.25p ordinary

Sale

246,446

11.6423 GBP

11.5600 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

1,427

11.6355 GBP

0.25p ordinary

SWAP

Closing Long

449

11.6405 GBP

0.25p ordinary

SWAP

Decreasing Short

455

11.6028 GBP

0.25p ordinary

SWAP

Decreasing Short

461

11.6199 GBP

0.25p ordinary

SWAP

Increasing Long

128

11.6000 GBP

0.25p ordinary

SWAP

Opening Short

550

11.6400 GBP

0.25p ordinary

SWAP

Increasing Long

2,398

11.6400 GBP

0.25p ordinary

SWAP

Decreasing Short

5

11.6158 GBP

0.25p ordinary

SWAP

Increasing Short

12,262

11.5859 GBP

0.25p ordinary

SWAP

Opening Short

10,969

11.6064 GBP

0.25p ordinary

SWAP

Increasing Short

39

11.6132 GBP

0.25p ordinary

SWAP

Decreasing Long

6

11.5900 GBP

0.25p ordinary

SWAP

Decreasing Long

20,368

11.6400 GBP

0.25p ordinary

SWAP

Decreasing Short

2,696

11.6081 GBP

0.25p ordinary

SWAP

Decreasing Short

130,765

11.5700 GBP

0.25p ordinary

SWAP

Decreasing Short

52

11.6400 GBP

0.25p ordinary

SWAP

Increasing Long

1,607

11.5975 GBP

0.25p ordinary

SWAP

Increasing Long

597

11.5975 GBP

0.25p ordinary

CFD

Increasing Long

1,262

11.5942 GBP

0.25p ordinary

CFD

Decreasing Short

4,952

11.6096 GBP

0.25p ordinary

CFD

Increasing Short

8,945

11.5884 GBP

0.25p ordinary

CFD

Decreasing Short

3,041

11.6096 GBP

0.25p ordinary

SWAP

Decreasing Short

212

11.5848 GBP

0.25p ordinary

SWAP

Increasing Short

530

11.5909 GBP

0.25p ordinary

SWAP

Increasing Short

2,725

11.6168 GBP

0.25p ordinary

SWAP

Opening Short

5,952

11.5770 GBP

0.25p ordinary

SWAP

Decreasing Short

1,255

11.5699 GBP

0.25p ordinary

SWAP

Increasing Long

164

11.6200 GBP

0.25p ordinary

SWAP

Closing Short

550

11.6400 GBP

0.25p ordinary

SWAP

Opening Long

2,318

11.6400 GBP

0.25p ordinary

SWAP

Decreasing Short

10

11.6238 GBP

0.25p ordinary

SWAP

Decreasing Short

505

11.5772 GBP

0.25p ordinary

SWAP

Decreasing Long

600

11.5879 GBP

0.25p ordinary

SWAP

Increasing Short

25,066

11.6171 GBP

0.25p ordinary

SWAP

Increasing Short

75,232

11.5975 GBP

0.25p ordinary

SWAP

Increasing Short

2,186

11.5873 GBP

0.25p ordinary

SWAP

Increasing Short

528

11.5736 GBP

0.25p ordinary

SWAP

Decreasing Long

192

11.5750 GBP

0.25p ordinary

SWAP

Decreasing Short

4

11.6198 GBP

0.25p ordinary

SWAP

Increasing Short

173

11.6195 GBP

0.25p ordinary

SWAP

Increasing Long

1,370

11.5809 GBP

0.25p ordinary

SWAP

Increasing Short

3,137

11.6405 GBP

0.25p ordinary

SWAP

Increasing Short

564

11.5835 GBP

0.25p ordinary

SWAP

Closing Short

6,480

11.6400 GBP

0.25p ordinary

SWAP

Increasing Long

170

11.6250 GBP

0.25p ordinary

SWAP

Closing Short

47

11.6400 GBP

0.25p ordinary

SWAP

Opening Long

253

11.6400 GBP

0.25p ordinary

SWAP

Increasing Short

143

11.5992 GBP

0.25p ordinary

SWAP

Increasing Long

89

11.5800 GBP

0.25p ordinary

SWAP

Increasing Short

277

11.5900 GBP

0.25p ordinary

SWAP

Increasing Long

572

11.6250 GBP

0.25p ordinary

SWAP

Decreasing Short

4,670

11.5750 GBP

0.25p ordinary

SWAP

Decreasing Long

147

11.6400 GBP

0.25p ordinary

SWAP

Decreasing Short

9,860

11.6400 GBP

0.25p ordinary

SWAP

Increasing Long

7,734

11.6400 GBP

0.25p ordinary

SWAP

Decreasing Long

3,141

11.6009 GBP

0.25p ordinary

SWAP

Decreasing Long

20,126

11.5961 GBP

0.25p ordinary

SWAP

Increasing Long

232

11.5800 GBP

0.25p ordinary

SWAP

Increasing Long

2,259

11.5900 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:

04 Sep 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213