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:

12 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:

1,535,487

1.72%

275,494

0.31%

(2)

Cash-settled derivatives:

and/or controlled:

271,842

0.30%

1,505,392

1.69%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

1,807,329

2.02%

1,780,886

1.99%

(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

79,685

9.9000 GBP

9.6780 GBP

0.25p ordinary

Sale

62,247

9.8750 GBP

9.6795 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

17

9.6800 GBP

0.25p ordinary

SWAP

Decreasing Short

274

9.6795 GBP

0.25p ordinary

SWAP

Decreasing Long

1,202

9.6800 GBP

0.25p ordinary

SWAP

Increasing Short

4,309

9.6800 GBP

0.25p ordinary

SWAP

Increasing Short

24

9.7807 GBP

0.25p ordinary

SWAP

Increasing Short

37

9.8034 GBP

0.25p ordinary

SWAP

Increasing Long

2,896

9.7909 GBP

0.25p ordinary

SWAP

Decreasing Long

170

9.7650 GBP

0.25p ordinary

SWAP

Increasing Long

219

9.6800 GBP

0.25p ordinary

SWAP

Decreasing Short

3,076

9.6800 GBP

0.25p ordinary

SWAP

Decreasing Short

119

9.6798 GBP

0.25p ordinary

SWAP

Closing Short

307

9.6800 GBP

0.25p ordinary

SWAP

Opening Long

553

9.6800 GBP

0.25p ordinary

SWAP

Decreasing Long

64

9.7544 GBP

0.25p ordinary

SWAP

Decreasing Long

1,987

9.7523 GBP

0.25p ordinary

SWAP

Decreasing Short

98

9.7718 GBP

0.25p ordinary

SWAP

Decreasing Short

1,221

9.7106 GBP

0.25p ordinary

SWAP

Decreasing Long

190

9.7892 GBP

0.25p ordinary

SWAP

Increasing Long

78

9.6800 GBP

0.25p ordinary

SWAP

Increasing Long

300

9.7587 GBP

0.25p ordinary

SWAP

Increasing Long

78

9.7204 GBP

0.25p ordinary

SWAP

Decreasing Short

2,719

9.6977 GBP

0.25p ordinary

SWAP

Decreasing Long

3,001

9.7852 GBP

0.25p ordinary

SWAP

Decreasing Long

1,116

9.7852 GBP

0.25p ordinary

CFD

Increasing Short

580

9.8717 GBP

0.25p ordinary

SWAP

Decreasing Short

234

9.7725 GBP

0.25p ordinary

SWAP

Increasing Short

98

9.8258 GBP

0.25p ordinary

SWAP

Decreasing Short

6,030

9.8170 GBP

0.25p ordinary

SWAP

Increasing Long

277

9.6800 GBP

0.25p ordinary

SWAP

Increasing Short

1,785

9.6804 GBP

0.25p ordinary

SWAP

Increasing Short

6,893

9.8062 GBP

0.25p ordinary

SWAP

Decreasing Long

1,774

9.8258 GBP

0.25p ordinary

SWAP

Decreasing Short

221

9.6798 GBP

0.25p ordinary

SWAP

Decreasing Short

391

9.7767 GBP

0.25p ordinary

SWAP

Decreasing Long

1,754

9.7130 GBP

0.25p ordinary

SWAP

Increasing Short

8,307

9.6800 GBP

0.25p ordinary

CFD

Decreasing Short

233

9.7815 GBP

0.25p ordinary

SWAP

Decreasing Short

1,140

9.6796 GBP

0.25p ordinary

SWAP

Increasing Short

707

9.8472 GBP

0.25p ordinary

SWAP

Decreasing Long

1,500

9.8225 GBP

0.25p ordinary

SWAP

Increasing Short

1,841

9.6800 GBP

0.25p ordinary

SWAP

Increasing Long

197

9.7975 GBP

0.25p ordinary

SWAP

Decreasing Short

226

9.8182 GBP

0.25p ordinary

SWAP

Closing Long

362

9.8389 GBP

0.25p ordinary

SWAP

Decreasing Short

123

9.7826 GBP

0.25p ordinary

SWAP

Increasing Long

639

9.6800 GBP

0.25p ordinary

SWAP

Decreasing Short

212

9.8750 GBP

0.25p ordinary

SWAP

Decreasing Short

402

9.7833 GBP

0.25p ordinary

SWAP

Decreasing Long

6,038

9.6800 GBP

0.25p ordinary

SWAP

Decreasing Short

3,481

9.8664 GBP

0.25p ordinary

SWAP

Increasing Long

130

9.7850 GBP

0.25p ordinary

SWAP

Decreasing Long

201

9.9000 GBP

0.25p ordinary

SWAP

Increasing Long

3,464

9.7559 GBP

0.25p ordinary

SWAP

Decreasing Long

1,837

9.8222 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:

13 Aug 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213