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:

07 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:

1,569,185

1.76%

259,278

0.29%

(2)

Cash-settled derivatives:

and/or controlled:

255,743

0.29%

1,547,328

1.74%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

1,824,928

2.05%

1,806,606

2.03%

(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

355,707

11.9528 GBP

11.5080 GBP

0.25p ordinary

Sale

337,513

11.9588 GBP

11.6050 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

283

11.8408 GBP

0.25p ordinary

SWAP

Decreasing Short

3,494

11.8099 GBP

0.25p ordinary

SWAP

Decreasing Short

98

11.7582 GBP

0.25p ordinary

SWAP

Decreasing Short

63

11.7166 GBP

0.25p ordinary

SWAP

Increasing Short

547

11.7073 GBP

0.25p ordinary

SWAP

Increasing Long

2,363

11.8100 GBP

0.25p ordinary

SWAP

Closing Short

1,059

11.8100 GBP

0.25p ordinary

SWAP

Opening Long

6,164

11.8100 GBP

0.25p ordinary

SWAP

Decreasing Short

188

11.8404 GBP

0.25p ordinary

SWAP

Decreasing Short

5,258

11.8100 GBP

0.25p ordinary

SWAP

Opening Short

18,250

11.7835 GBP

0.25p ordinary

SWAP

Decreasing Short

1,834

11.8600 GBP

0.25p ordinary

SWAP

Increasing Short

1,340

11.8600 GBP

0.25p ordinary

SWAP

Increasing Short

1,258

11.8600 GBP

0.25p ordinary

SWAP

Decreasing Short

2,598

11.8600 GBP

0.25p ordinary

SWAP

Increasing Short

1,598

11.8582 GBP

0.25p ordinary

SWAP

Decreasing Long

1,380

11.6000 GBP

0.25p ordinary

SWAP

Decreasing Long

11,582

11.8105 GBP

0.25p ordinary

SWAP

Decreasing Short

56

11.8094 GBP

0.25p ordinary

SWAP

Increasing Short

13,500

11.5080 GBP

0.25p ordinary

SWAP

Decreasing Short

8,486

11.6900 GBP

0.25p ordinary

SWAP

Increasing Short

665

11.8126 GBP

0.25p ordinary

SWAP

Increasing Long

1,428

11.8486 GBP

0.25p ordinary

SWAP

Increasing Long

531

11.8486 GBP

0.25p ordinary

CFD

Decreasing Short

1,963

11.8607 GBP

0.25p ordinary

CFD

Decreasing Short

5,912

11.7082 GBP

0.25p ordinary

CFD

Increasing Short

10,821

11.8100 GBP

0.25p ordinary

CFD

Decreasing Short

1,090

11.8607 GBP

0.25p ordinary

SWAP

Increasing Short

639

11.9108 GBP

0.25p ordinary

SWAP

Increasing Short

1,381

11.8392 GBP

0.25p ordinary

SWAP

Decreasing Short

2,000

11.8588 GBP

0.25p ordinary

SWAP

Decreasing Short

9,172

11.8800 GBP

0.25p ordinary

SWAP

Opening Short

1,106

11.8722 GBP

0.25p ordinary

SWAP

Decreasing Short

1,689

11.8257 GBP

0.25p ordinary

SWAP

Increasing Short

10

11.6801 GBP

0.25p ordinary

SWAP

Increasing Long

125

11.8300 GBP

0.25p ordinary

SWAP

Increasing Short

3,228

11.8900 GBP

0.25p ordinary

SWAP

Increasing Short

3,030

11.8900 GBP

0.25p ordinary

SWAP

Decreasing Short

8,707

11.8800 GBP

0.25p ordinary

SWAP

Increasing Short

445

11.8459 GBP

0.25p ordinary

SWAP

Increasing Long

70

11.6050 GBP

0.25p ordinary

SWAP

Increasing Long

44,743

11.8100 GBP

0.25p ordinary

SWAP

Decreasing Short

17,341

11.8161 GBP

0.25p ordinary

SWAP

Increasing Short

13,500

11.5157 GBP

0.25p ordinary

SWAP

Decreasing Short

515

11.8700 GBP

0.25p ordinary

CFD

Increasing Short

520

11.9489 GBP

0.25p ordinary

SWAP

Decreasing Short

3,120

11.8900 GBP

0.25p ordinary

SWAP

Closing Short

1,106

11.8100 GBP

0.25p ordinary

SWAP

Decreasing Short

45

11.8899 GBP

0.25p ordinary

SWAP

Decreasing Short

566

11.7215 GBP

0.25p ordinary

SWAP

Increasing Long

519

11.8503 GBP

0.25p ordinary

SWAP

Increasing Short

9,222

11.8800 GBP

0.25p ordinary

SWAP

Increasing Short

8,657

11.8800 GBP

0.25p ordinary

SWAP

Decreasing Short

3,138

11.8900 GBP

0.25p ordinary

SWAP

Decreasing Long

1,038

11.7396 GBP

0.25p ordinary

SWAP

Increasing Short

48,305

11.7621 GBP

0.25p ordinary

SWAP

Increasing Short

119,108

11.8328 GBP

0.25p ordinary

SWAP

Closing Short

167

11.8600 GBP

0.25p ordinary

SWAP

Increasing Short

1,110

11.8600 GBP

0.25p ordinary

SWAP

Increasing Short

1,041

11.8600 GBP

0.25p ordinary

SWAP

Decreasing Short

150

11.8600 GBP

0.25p ordinary

SWAP

Decreasing Long

650

11.8329 GBP

0.25p ordinary

SWAP

Increasing Short

2,253

11.7557 GBP

0.25p ordinary

SWAP

Increasing Short

687

11.7351 GBP

0.25p ordinary

SWAP

Increasing Short

88

11.8605 GBP

0.25p ordinary

SWAP

Increasing Short

1,055

11.8300 GBP

0.25p ordinary

SWAP

Decreasing Short

1,055

11.8300 GBP

0.25p ordinary

SWAP

Decreasing Long

80

11.7952 GBP

0.25p ordinary

SWAP

Decreasing Short

7,406

11.8100 GBP

0.25p ordinary

SWAP

Increasing Long

8,827

11.8100 GBP

0.25p ordinary

SWAP

Increasing Short

16

11.8100 GBP

0.25p ordinary

SWAP

Increasing Long

57

11.8100 GBP

0.25p ordinary

SWAP

Decreasing Short

158

11.8100 GBP

0.25p ordinary

SWAP

Increasing Long

3,372

11.6804 GBP

0.25p ordinary

SWAP

Decreasing Short

87,073

11.6900 GBP

0.25p ordinary

SWAP

Decreasing Long

412

11.8425 GBP

0.25p ordinary

SWAP

Decreasing Short

3,260

11.8369 GBP

0.25p ordinary

SWAP

Increasing Long

13,994

11.8072 GBP

0.25p ordinary

SWAP

Decreasing Short

3,480

11.7304 GBP

0.25p ordinary

SWAP

Increasing Long

3,596

11.7169 GBP

0.25p ordinary

SWAP

Decreasing Short

7,288

11.8506 GBP

0.25p ordinary

SWAP

Decreasing Long

20,164

11.7576 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:

08 Sep 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213