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:

21 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:

1,566,871

1.76%

363,365

0.41%

(2)

Cash-settled derivatives:

and/or controlled:

360,578

0.40%

1,532,233

1.72%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

1,927,449

2.16%

1,895,598

2.13%

(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

304,501

10.8205 GBP

9.6990 GBP

0.25p ordinary

Sale

418,726

10.8200 GBP

9.7648 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

Closing Short

286

10.8200 GBP

0.25p ordinary

SWAP

Opening Long

135

10.8200 GBP

0.25p ordinary

SWAP

Decreasing Short

1,251

10.8194 GBP

0.25p ordinary

SWAP

Closing Short

1,097

10.3158 GBP

0.25p ordinary

SWAP

Opening Short

8,413

10.7501 GBP

0.25p ordinary

SWAP

Increasing Short

2,749

10.8200 GBP

0.25p ordinary

SWAP

Increasing Short

174

10.5322 GBP

0.25p ordinary

SWAP

Increasing Short

205

10.5181 GBP

0.25p ordinary

SWAP

Increasing Long

3,192

10.0101 GBP

0.25p ordinary

SWAP

Decreasing Long

554

10.8200 GBP

0.25p ordinary

SWAP

Decreasing Short

974

10.7257 GBP

0.25p ordinary

SWAP

Increasing Short

75

10.8200 GBP

0.25p ordinary

SWAP

Decreasing Short

9,679

10.8200 GBP

0.25p ordinary

SWAP

Increasing Short

31,548

10.8200 GBP

0.25p ordinary

SWAP

Closing Long

4,413

10.5520 GBP

0.25p ordinary

SWAP

Increasing Long

191

10.2656 GBP

0.25p ordinary

SWAP

Increasing Short

550

10.7228 GBP

0.25p ordinary

SWAP

Increasing Short

401

10.4450 GBP

0.25p ordinary

SWAP

Decreasing Long

6,398

10.6832 GBP

0.25p ordinary

SWAP

Decreasing Long

3,004

10.7599 GBP

0.25p ordinary

SWAP

Opening Long

180,933

10.8200 GBP

0.25p ordinary

SWAP

Decreasing Long

706

10.7515 GBP

0.25p ordinary

SWAP

Increasing Short

6,750

9.6998 GBP

0.25p ordinary

SWAP

Decreasing Short

649

10.4228 GBP

0.25p ordinary

SWAP

Increasing Short

1,165

10.3912 GBP

0.25p ordinary

SWAP

Increasing Short

1,234

10.5403 GBP

0.25p ordinary

SWAP

Increasing Short

459

10.5403 GBP

0.25p ordinary

CFD

Increasing Short

6,087

10.4629 GBP

0.25p ordinary

CFD

Opening Short

6,447

10.8200 GBP

0.25p ordinary

SWAP

Increasing Short

77

10.5007 GBP

0.25p ordinary

SWAP

Decreasing Short

2,000

10.3989 GBP

0.25p ordinary

SWAP

Closing Long

135

10.8118 GBP

0.25p ordinary

SWAP

Opening Short

179

10.8118 GBP

0.25p ordinary

SWAP

Increasing Short

488

10.8205 GBP

0.25p ordinary

SWAP

Decreasing Short

150

9.7699 GBP

0.25p ordinary

SWAP

Decreasing Long

7,915

10.5475 GBP

0.25p ordinary

SWAP

Decreasing Short

3,853

10.1510 GBP

0.25p ordinary

SWAP

Increasing Long

1,604

10.5872 GBP

0.25p ordinary

SWAP

Increasing Short

2,675

10.7379 GBP

0.25p ordinary

SWAP

Increasing Short

52

10.8200 GBP

0.25p ordinary

SWAP

Decreasing Short

2,215

10.7473 GBP

0.25p ordinary

CFD

Decreasing Short

3,295

10.1277 GBP

0.25p ordinary

SWAP

Decreasing Short

76

9.7549 GBP

0.25p ordinary

SWAP

Decreasing Short

80

10.5243 GBP

0.25p ordinary

SWAP

Decreasing Long

65

10.5926 GBP

0.25p ordinary

SWAP

Decreasing Short

135

10.4063 GBP

0.25p ordinary

SWAP

Decreasing Short

1,054

10.8200 GBP

0.25p ordinary

SWAP

Increasing Short

6,858

10.5080 GBP

0.25p ordinary

SWAP

Decreasing Short

457

10.4854 GBP

0.25p ordinary

SWAP

Decreasing Long

67

10.6097 GBP

0.25p ordinary

SWAP

Decreasing Short

482

10.4544 GBP

0.25p ordinary

SWAP

Decreasing Short

1,876

10.3666 GBP

0.25p ordinary

SWAP

Increasing Short

30,184

10.4722 GBP

0.25p ordinary

SWAP

Decreasing Short

75

10.5973 GBP

0.25p ordinary

SWAP

Decreasing Long

203

10.4295 GBP

0.25p ordinary

SWAP

Decreasing Short

2,134

10.6472 GBP

0.25p ordinary

SWAP

Decreasing Short

4,095

10.4772 GBP

0.25p ordinary

SWAP

Closing Short

146

10.4687 GBP

0.25p ordinary

SWAP

Increasing Short

18

10.8200 GBP

0.25p ordinary

SWAP

Decreasing Short

7,888

10.5059 GBP

0.25p ordinary

SWAP

Decreasing Short

2,153

10.8200 GBP

0.25p ordinary

SWAP

Increasing Short

188

9.7300 GBP

0.25p ordinary

SWAP

Decreasing Short

5,502

10.6263 GBP

0.25p ordinary

SWAP

Increasing Short

529

10.3792 GBP

0.25p ordinary

SWAP

Decreasing Short

4,375

10.4705 GBP

0.25p ordinary

SWAP

Closing Short

3,193

10.5213 GBP

0.25p ordinary

SWAP

Opening Long

43,887

10.5213 GBP

0.25p ordinary

SWAP

Decreasing Long

41,218

10.4226 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:

24 Aug 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213