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 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:

1,287,790

1.43%

1,149,552

1.27%

(2)

Cash-settled derivatives:

and/or controlled:

1,125,171

1.25%

1,286,678

1.42%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

2,412,961

2.67%

2,436,230

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

167,786

9.6640 GBP

9.4850 GBP

0.25p ordinary

Sale

165,114

9.9000 GBP

9.4800 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

84

9.4950 GBP

0.25p ordinary

SWAP

Increasing Short

2,437

9.4954 GBP

0.25p ordinary

SWAP

Increasing Long

558

9.4841 GBP

0.25p ordinary

SWAP

Decreasing Short

54

9.5699 GBP

0.25p ordinary

SWAP

Increasing Short

66

9.5884 GBP

0.25p ordinary

SWAP

Decreasing Long

266

9.5881 GBP

0.25p ordinary

SWAP

Opening Short

1,172

9.4950 GBP

0.25p ordinary

SWAP

Increasing Short

5,235

9.4950 GBP

0.25p ordinary

SWAP

Decreasing Short

11,673

9.4950 GBP

0.25p ordinary

SWAP

Increasing Long

4,182

9.5012 GBP

0.25p ordinary

SWAP

Increasing Long

3,076

9.5120 GBP

0.25p ordinary

SWAP

Increasing Long

2,265

9.5190 GBP

0.25p ordinary

SWAP

Decreasing Long

4,287

9.5059 GBP

0.25p ordinary

SWAP

Increasing Long

29

9.4950 GBP

0.25p ordinary

SWAP

Increasing Long

2,382

9.4951 GBP

0.25p ordinary

SWAP

Decreasing Long

1

9.5150 GBP

0.25p ordinary

SWAP

Decreasing Long

92

9.4950 GBP

0.25p ordinary

SWAP

Decreasing Long

2,230

9.5947 GBP

0.25p ordinary

SWAP

Decreasing Long

231

9.5846 GBP

0.25p ordinary

SWAP

Increasing Short

2,813

9.6425 GBP

0.25p ordinary

SWAP

Increasing Short

178

9.4950 GBP

0.25p ordinary

SWAP

Closing Long

2

9.4950 GBP

0.25p ordinary

SWAP

Opening Short

12

9.4950 GBP

0.25p ordinary

SWAP

Increasing Long

1,871

9.5526 GBP

0.25p ordinary

SWAP

Increasing Long

695

9.5526 GBP

0.25p ordinary

CFD

Increasing Long

3,197

9.5618 GBP

0.25p ordinary

SWAP

Increasing Short

1,926

9.5509 GBP

0.25p ordinary

SWAP

Increasing Long

2,444

9.5190 GBP

0.25p ordinary

SWAP

Increasing Long

1,674

9.5538 GBP

0.25p ordinary

SWAP

Increasing Long

1,079

9.4986 GBP

0.25p ordinary

SWAP

Increasing Short

1,260

9.6581 GBP

0.25p ordinary

SWAP

Decreasing Short

16

9.5899 GBP

0.25p ordinary

SWAP

Increasing Long

95

9.5099 GBP

0.25p ordinary

SWAP

Decreasing Long

194

9.4850 GBP

0.25p ordinary

SWAP

Increasing Long

478

9.5989 GBP

0.25p ordinary

SWAP

Increasing Long

1

9.6250 GBP

0.25p ordinary

SWAP

Decreasing Long

1

9.4950 GBP

0.25p ordinary

SWAP

Increasing Long

6,714

9.5734 GBP

0.25p ordinary

SWAP

Decreasing Long

123

9.5622 GBP

0.25p ordinary

SWAP

Decreasing Short

603

9.5577 GBP

0.25p ordinary

SWAP

Decreasing Short

6

9.9000 GBP

0.25p ordinary

SWAP

Decreasing Short

41,926

9.5273 GBP

0.25p ordinary

SWAP

Increasing Short

208

9.6550 GBP

0.25p ordinary

SWAP

Increasing Short

2

9.5050 GBP

0.25p ordinary

SWAP

Decreasing Long

8

9.5050 GBP

0.25p ordinary

SWAP

Increasing Long

618

9.6050 GBP

0.25p ordinary

SWAP

Decreasing Long

140

9.6184 GBP

0.25p ordinary

SWAP

Decreasing Long

894

9.4974 GBP

0.25p ordinary

SWAP

Increasing Short

15

9.4950 GBP

0.25p ordinary

SWAP

Decreasing Long

64

9.4950 GBP

0.25p ordinary

SWAP

Decreasing Long

35

9.4950 GBP

0.25p ordinary

SWAP

Increasing Long

661

9.4945 GBP

0.25p ordinary

SWAP

Decreasing Short

814

9.6206 GBP

0.25p ordinary

SWAP

Decreasing Long

1,689

9.5142 GBP

0.25p ordinary

SWAP

Increasing Long

123

9.5618 GBP

0.25p ordinary

SWAP

Closing Long

79,058

9.4950 GBP

0.25p ordinary

SWAP

Decreasing Short

849

9.5596 GBP

0.25p ordinary

SWAP

Increasing Long

1,345

9.5450 GBP

0.25p ordinary

SWAP

Increasing Short

89

9.5950 GBP

0.25p ordinary

SWAP

Increasing Long

984

9.6420 GBP

0.25p ordinary

SWAP

Decreasing Short

4,119

9.5215 GBP

0.25p ordinary

SWAP

Increasing Long

8,909

9.5497 GBP

0.25p ordinary

SWAP

Decreasing Long

1,693

9.6174 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 Jun 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213