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:

20 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:

1,516,087

1.70%

198,356

0.22%

(2)

Cash-settled derivatives:

and/or controlled:

195,314

0.22%

1,483,898

1.66%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

1,711,401

1.92%

1,682,254

1.89%

(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

52,307

9.8100 GBP

9.6950 GBP

0.25p ordinary

Sale

51,847

9.8200 GBP

9.6948 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 Short

163

9.6950 GBP

0.25p ordinary

SWAP

Opening Short

286

9.6950 GBP

0.25p ordinary

SWAP

Increasing Short

386

9.6954 GBP

0.25p ordinary

SWAP

Closing Long

1,775

9.7050 GBP

0.25p ordinary

SWAP

Opening Short

2,171

9.7050 GBP

0.25p ordinary

SWAP

Decreasing Short

4,004

9.6949 GBP

0.25p ordinary

SWAP

Increasing Short

35

9.7507 GBP

0.25p ordinary

SWAP

Increasing Short

2

9.7507 GBP

0.25p ordinary

SWAP

Increasing Long

2,021

9.7527 GBP

0.25p ordinary

SWAP

Decreasing Long

331

9.6950 GBP

0.25p ordinary

SWAP

Increasing Short

429

9.6950 GBP

0.25p ordinary

SWAP

Decreasing Short

320

9.7421 GBP

0.25p ordinary

SWAP

Decreasing Short

1,735

9.6950 GBP

0.25p ordinary

SWAP

Decreasing Short

3,670

9.6950 GBP

0.25p ordinary

SWAP

Decreasing Long

2,091

9.6950 GBP

0.25p ordinary

SWAP

Closing Short

726

9.7496 GBP

0.25p ordinary

SWAP

Opening Long

801

9.7496 GBP

0.25p ordinary

SWAP

Decreasing Short

36

9.6950 GBP

0.25p ordinary

SWAP

Decreasing Short

11

9.9000 GBP

0.25p ordinary

SWAP

Decreasing Long

2,680

9.7500 GBP

0.25p ordinary

SWAP

Decreasing Long

1,413

9.7504 GBP

0.25p ordinary

SWAP

Decreasing Long

642

9.7099 GBP

0.25p ordinary

SWAP

Increasing Short

1,687

9.7885 GBP

0.25p ordinary

SWAP

Increasing Short

1,501

9.6950 GBP

0.25p ordinary

SWAP

Increasing Short

1,907

9.7092 GBP

0.25p ordinary

SWAP

Increasing Short

915

9.7491 GBP

0.25p ordinary

SWAP

Increasing Short

340

9.7491 GBP

0.25p ordinary

CFD

Increasing Short

669

9.7623 GBP

0.25p ordinary

CFD

Decreasing Short

5

9.7260 GBP

0.25p ordinary

SWAP

Increasing Short

870

9.7355 GBP

0.25p ordinary

SWAP

Increasing Short

78

9.7457 GBP

0.25p ordinary

SWAP

Increasing Long

528

9.6948 GBP

0.25p ordinary

SWAP

Decreasing Short

3,558

9.7456 GBP

0.25p ordinary

SWAP

Decreasing Short

286

9.6950 GBP

0.25p ordinary

SWAP

Decreasing Short

1,074

9.7552 GBP

0.25p ordinary

SWAP

Increasing Short

1,156

9.7908 GBP

0.25p ordinary

SWAP

Increasing Short

4,536

9.6950 GBP

0.25p ordinary

SWAP

Increasing Long

1,756

9.7533 GBP

0.25p ordinary

SWAP

Increasing Short

472

9.7069 GBP

0.25p ordinary

SWAP

Increasing Short

1,249

9.6988 GBP

0.25p ordinary

SWAP

Increasing Short

210

9.6950 GBP

0.25p ordinary

CFD

Decreasing Short

1,488

9.7410 GBP

0.25p ordinary

CFD

Closing Short

2,499

9.6950 GBP

0.25p ordinary

CFD

Opening Long

2,085

9.6950 GBP

0.25p ordinary

SWAP

Closing Short

844

9.7005 GBP

0.25p ordinary

SWAP

Increasing Short

37

9.6950 GBP

0.25p ordinary

SWAP

Decreasing Long

578

9.6950 GBP

0.25p ordinary

SWAP

Increasing Short

987

9.6950 GBP

0.25p ordinary

SWAP

Decreasing Short

159

9.6950 GBP

0.25p ordinary

CFD

Decreasing Long

1,999

9.6950 GBP

0.25p ordinary

SWAP

Decreasing Short

225

9.8031 GBP

0.25p ordinary

SWAP

Increasing Long

18

9.7479 GBP

0.25p ordinary

SWAP

Increasing Short

77

9.6950 GBP

0.25p ordinary

SWAP

Decreasing Short

451

9.7493 GBP

0.25p ordinary

CFD

Closing Long

86

9.6950 GBP

0.25p ordinary

SWAP

Decreasing Short

3,199

9.7583 GBP

0.25p ordinary

SWAP

Increasing Long

98

9.7509 GBP

0.25p ordinary

SWAP

Decreasing Short

53

9.6950 GBP

0.25p ordinary

SWAP

Decreasing Short

319

9.7615 GBP

0.25p ordinary

SWAP

Decreasing Short

113

9.7517 GBP

0.25p ordinary

SWAP

Decreasing Short

59

9.7400 GBP

0.25p ordinary

SWAP

Decreasing Short

597

9.7697 GBP

0.25p ordinary

SWAP

Decreasing Short

680

9.7649 GBP

0.25p ordinary

SWAP

Increasing Short

398

9.7735 GBP

0.25p ordinary

SWAP

Decreasing Short

82

9.7390 GBP

0.25p ordinary

SWAP

Increasing Short

1,869

9.8100 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:

21 Aug 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213