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:

13 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:

1,620,114

1.82%

231,017

0.26%

(2)

Cash-settled derivatives:

and/or controlled:

227,091

0.25%

1,589,745

1.78%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

1,847,205

2.07%

1,820,762

2.04%

(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

162,401

9.8100 GBP

9.6850 GBP

0.25p ordinary

Sale

33,297

9.8100 GBP

9.6899 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

68

9.6900 GBP

0.25p ordinary

SWAP

Increasing Short

867

9.6904 GBP

0.25p ordinary

SWAP

Decreasing Long

348

9.7507 GBP

0.25p ordinary

SWAP

Increasing Short

1,634

9.7690 GBP

0.25p ordinary

SWAP

Increasing Short

58

9.7680 GBP

0.25p ordinary

SWAP

Increasing Short

76

9.7690 GBP

0.25p ordinary

SWAP

Increasing Long

6,703

9.7734 GBP

0.25p ordinary

SWAP

Decreasing Long

424

9.7783 GBP

0.25p ordinary

SWAP

Closing Short

3,241

9.6900 GBP

0.25p ordinary

SWAP

Opening Short

3,241

9.6900 GBP

0.25p ordinary

SWAP

Decreasing Short

2,507

9.6900 GBP

0.25p ordinary

SWAP

Increasing Short

208

9.6900 GBP

0.25p ordinary

SWAP

Closing Long

553

9.6900 GBP

0.25p ordinary

SWAP

Opening Short

4,494

9.6900 GBP

0.25p ordinary

SWAP

Decreasing Long

94

9.7501 GBP

0.25p ordinary

SWAP

Decreasing Long

2,006

9.7497 GBP

0.25p ordinary

SWAP

Increasing Short

629

9.7516 GBP

0.25p ordinary

SWAP

Decreasing Short

63

9.6900 GBP

0.25p ordinary

SWAP

Decreasing Long

10,260

9.6899 GBP

0.25p ordinary

SWAP

Decreasing Long

2,215

9.7368 GBP

0.25p ordinary

SWAP

Decreasing Long

1,819

9.7267 GBP

0.25p ordinary

SWAP

Decreasing Long

491

9.7287 GBP

0.25p ordinary

SWAP

Increasing Short

1,687

9.7619 GBP

0.25p ordinary

SWAP

Increasing Short

1,632

9.7654 GBP

0.25p ordinary

SWAP

Increasing Short

473

9.6939 GBP

0.25p ordinary

SWAP

Decreasing Long

4,605

9.7505 GBP

0.25p ordinary

SWAP

Decreasing Long

1,711

9.7505 GBP

0.25p ordinary

CFD

Decreasing Short

444

9.7398 GBP

0.25p ordinary

SWAP

Increasing Short

133

9.7279 GBP

0.25p ordinary

SWAP

Increasing Short

85

9.7608 GBP

0.25p ordinary

SWAP

Decreasing Long

176

9.6995 GBP

0.25p ordinary

SWAP

Increasing Long

1,202

9.7755 GBP

0.25p ordinary

SWAP

Increasing Short

34,341

9.7781 GBP

0.25p ordinary

SWAP

Increasing Short

1,681

9.7692 GBP

0.25p ordinary

SWAP

Increasing Short

489

9.7136 GBP

0.25p ordinary

SWAP

Decreasing Long

235

9.7811 GBP

0.25p ordinary

SWAP

Increasing Short

1,688

9.7344 GBP

0.25p ordinary

SWAP

Increasing Short

1,367

9.6926 GBP

0.25p ordinary

CFD

Increasing Short

348

9.7800 GBP

0.25p ordinary

SWAP

Increasing Short

1,708

9.7719 GBP

0.25p ordinary

SWAP

Decreasing Long

118

9.7900 GBP

0.25p ordinary

SWAP

Decreasing Short

280

9.6900 GBP

0.25p ordinary

SWAP

Increasing Short

3,511

9.7206 GBP

0.25p ordinary

SWAP

Decreasing Long

1,949

9.7682 GBP

0.25p ordinary

SWAP

Increasing Short

7,839

9.6900 GBP

0.25p ordinary

SWAP

Decreasing Long

456

9.6929 GBP

0.25p ordinary

SWAP

Increasing Short

1,630

9.7701 GBP

0.25p ordinary

SWAP

Increasing Long

99

9.6900 GBP

0.25p ordinary

SWAP

Increasing Short

1,032

9.7655 GBP

0.25p ordinary

SWAP

Increasing Long

1,984

9.6900 GBP

0.25p ordinary

SWAP

Increasing Short

11,283

9.7632 GBP

0.25p ordinary

SWAP

Decreasing Long

1,471

9.7788 GBP

0.25p ordinary

SWAP

Decreasing Long

1,432

9.7801 GBP

0.25p ordinary

SWAP

Increasing Long

167

9.7519 GBP

0.25p ordinary

SWAP

Closing Long

24,475

9.7763 GBP

0.25p ordinary

SWAP

Opening Short

8,754

9.7763 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:

14 Aug 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213