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 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:

1,487,719

1.66%

389,784

0.44%

(2)

Cash-settled derivatives:

and/or controlled:

357,381

0.40%

1,463,496

1.64%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

1,845,100

2.06%

1,853,280

2.07%

(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

46,832

9.5500 GBP

9.4034 GBP

0.25p ordinary

Sale

41,074

9.5500 GBP

9.4005 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 Long

244

9.5500 GBP

0.25p ordinary

SWAP

Decreasing Short

979

9.5495 GBP

0.25p ordinary

SWAP

Increasing Long

661

9.5413 GBP

0.25p ordinary

SWAP

Increasing Short

2,746

9.5500 GBP

0.25p ordinary

SWAP

Increasing Long

8,324

9.4256 GBP

0.25p ordinary

SWAP

Increasing Long

692

9.4389 GBP

0.25p ordinary

SWAP

Increasing Long

474

9.5500 GBP

0.25p ordinary

SWAP

Opening Long

10,584

9.5500 GBP

0.25p ordinary

SWAP

Decreasing Short

2,794

9.5500 GBP

0.25p ordinary

SWAP

Closing Short

520

9.5500 GBP

0.25p ordinary

SWAP

Opening Long

5

9.5500 GBP

0.25p ordinary

SWAP

Decreasing Long

178

9.5310 GBP

0.25p ordinary

SWAP

Decreasing Long

1,716

9.4691 GBP

0.25p ordinary

SWAP

Decreasing Short

581

9.5460 GBP

0.25p ordinary

SWAP

Increasing Short

1,195

9.5113 GBP

0.25p ordinary

SWAP

Increasing Long

92

9.3600 GBP

0.25p ordinary

SWAP

Increasing Long

2,728

9.4978 GBP

0.25p ordinary

SWAP

Increasing Long

694

9.5218 GBP

0.25p ordinary

SWAP

Increasing Long

87

9.5330 GBP

0.25p ordinary

SWAP

Increasing Short

1,688

9.4818 GBP

0.25p ordinary

SWAP

Increasing Short

457

9.4509 GBP

0.25p ordinary

SWAP

Decreasing Long

2,500

9.4623 GBP

0.25p ordinary

SWAP

Decreasing Long

930

9.4623 GBP

0.25p ordinary

CFD

Closing Short

2,118

9.4070 GBP

0.25p ordinary

CFD

Opening Short

96

9.4755 GBP

0.25p ordinary

SWAP

Increasing Short

273

9.4507 GBP

0.25p ordinary

SWAP

Closing Long

7

9.4684 GBP

0.25p ordinary

SWAP

Decreasing Long

1,598

9.5261 GBP

0.25p ordinary

SWAP

Decreasing Short

985

9.5495 GBP

0.25p ordinary

SWAP

Decreasing Long

754

9.4502 GBP

0.25p ordinary

SWAP

Increasing Short

1,019

9.4314 GBP

0.25p ordinary

SWAP

Decreasing Long

7

9.4665 GBP

0.25p ordinary

SWAP

Decreasing Long

24

9.4669 GBP

0.25p ordinary

SWAP

Increasing Long

1,158

9.4651 GBP

0.25p ordinary

SWAP

Increasing Long

49

9.5500 GBP

0.25p ordinary

SWAP

Increasing Short

581

9.4349 GBP

0.25p ordinary

SWAP

Decreasing Long

262

9.4817 GBP

0.25p ordinary

SWAP

Increasing Short

290

9.5500 GBP

0.25p ordinary

SWAP

Increasing Short

10,577

9.4435 GBP

0.25p ordinary

SWAP

Decreasing Long

49

9.4225 GBP

0.25p ordinary

SWAP

Increasing Short

207

9.4480 GBP

0.25p ordinary

SWAP

Decreasing Long

173

9.4650 GBP

0.25p ordinary

SWAP

Increasing Short

1,133

9.4325 GBP

0.25p ordinary

SWAP

Increasing Short

579

9.4307 GBP

0.25p ordinary

SWAP

Decreasing Long

186

9.4350 GBP

0.25p ordinary

SWAP

Increasing Short

2,474

9.4127 GBP

0.25p ordinary

SWAP

Decreasing Long

100

9.5500 GBP

0.25p ordinary

SWAP

Increasing Short

512

9.4044 GBP

0.25p ordinary

SWAP

Increasing Long

1,007

9.5500 GBP

0.25p ordinary

SWAP

Decreasing Long

4

9.5500 GBP

0.25p ordinary

SWAP

Decreasing Long

504

9.4091 GBP

0.25p ordinary

SWAP

Increasing Long

951

9.4401 GBP

0.25p ordinary

SWAP

Decreasing Long

4,233

9.4099 GBP

0.25p ordinary

SWAP

Decreasing Long

1,189

9.4322 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 Aug 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213