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:

11 Jun 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:

1,156,906

1.28%

1,284,720

1.42%

(2)

Cash-settled derivatives:

and/or controlled:

1,261,520

1.40%

1,156,233

1.28%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

2,418,426

2.68%

2,440,953

2.71%

(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

231,104

9.7570 GBP

9.5681 GBP

0.25p ordinary

Sale

348,174

9.7350 GBP

9.5695 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

541

9.5700 GBP

0.25p ordinary

SWAP

Decreasing Short

2,870

9.5695 GBP

0.25p ordinary

SWAP

Increasing Long

654

9.6648 GBP

0.25p ordinary

SWAP

Decreasing Short

3,501

9.6459 GBP

0.25p ordinary

SWAP

Decreasing Long

3,696

9.6696 GBP

0.25p ordinary

SWAP

Decreasing Long

119

9.6642 GBP

0.25p ordinary

SWAP

Decreasing Long

2,412

9.6343 GBP

0.25p ordinary

SWAP

Increasing Short

5,820

9.5700 GBP

0.25p ordinary

SWAP

Closing Long

13,134

9.5700 GBP

0.25p ordinary

SWAP

Opening Short

80

9.5700 GBP

0.25p ordinary

SWAP

Decreasing Long

9,223

9.5700 GBP

0.25p ordinary

SWAP

Increasing Long

21

9.6015 GBP

0.25p ordinary

SWAP

Increasing Long

57

9.6022 GBP

0.25p ordinary

SWAP

Increasing Long

2,055

9.5945 GBP

0.25p ordinary

SWAP

Increasing Long

951

9.5770 GBP

0.25p ordinary

SWAP

Increasing Long

189

9.6017 GBP

0.25p ordinary

SWAP

Increasing Long

2,075

9.6020 GBP

0.25p ordinary

SWAP

Decreasing Long

22

9.6550 GBP

0.25p ordinary

SWAP

Decreasing Long

217

9.6800 GBP

0.25p ordinary

SWAP

Increasing Long

1

9.6850 GBP

0.25p ordinary

SWAP

Decreasing Long

1,649

9.6263 GBP

0.25p ordinary

SWAP

Decreasing Long

554

9.6314 GBP

0.25p ordinary

SWAP

Increasing Short

8,437

9.7571 GBP

0.25p ordinary

SWAP

Decreasing Short

213,613

9.6350 GBP

0.25p ordinary

SWAP

Closing Short

1

9.6100 GBP

0.25p ordinary

SWAP

Opening Short

1

9.5700 GBP

0.25p ordinary

SWAP

Increasing Long

94

9.6012 GBP

0.25p ordinary

SWAP

Increasing Long

35

9.6012 GBP

0.25p ordinary

CFD

Decreasing Long

116

9.6556 GBP

0.25p ordinary

SWAP

Increasing Short

1,608

9.5700 GBP

0.25p ordinary

SWAP

Increasing Long

2,000

9.6330 GBP

0.25p ordinary

SWAP

Opening Long

4,013

9.6269 GBP

0.25p ordinary

SWAP

Increasing Long

1,823

9.5735 GBP

0.25p ordinary

SWAP

Decreasing Long

576

9.5700 GBP

0.25p ordinary

SWAP

Decreasing Short

252

9.5699 GBP

0.25p ordinary

SWAP

Increasing Long

519

9.6434 GBP

0.25p ordinary

SWAP

Increasing Long

182

9.6445 GBP

0.25p ordinary

SWAP

Decreasing Short

819

9.6568 GBP

0.25p ordinary

SWAP

Decreasing Long

10

9.6362 GBP

0.25p ordinary

SWAP

Increasing Long

1,114

9.6513 GBP

0.25p ordinary

SWAP

Decreasing Long

1

9.7100 GBP

0.25p ordinary

SWAP

Decreasing Long

1

9.6901 GBP

0.25p ordinary

SWAP

Increasing Short

5,625

9.7256 GBP

0.25p ordinary

SWAP

Decreasing Short

1,137

9.6343 GBP

0.25p ordinary

SWAP

Decreasing Long

914

9.6233 GBP

0.25p ordinary

SWAP

Decreasing Long

340

9.6233 GBP

0.25p ordinary

SWAP

Increasing Short

93

9.6950 GBP

0.25p ordinary

SWAP

Decreasing Short

3,870

9.6592 GBP

0.25p ordinary

SWAP

Decreasing Long

8,290

9.5947 GBP

0.25p ordinary

SWAP

Decreasing Long

2,412

9.5816 GBP

0.25p ordinary

SWAP

Decreasing Long

1

9.6750 GBP

0.25p ordinary

SWAP

Decreasing Short

244

9.5700 GBP

0.25p ordinary

SWAP

Increasing Short

1,365

9.6484 GBP

0.25p ordinary

SWAP

Increasing Short

232

9.5700 GBP

0.25p ordinary

SWAP

Increasing Long

88

9.5700 GBP

0.25p ordinary

SWAP

Decreasing Long

2,366

9.6338 GBP

0.25p ordinary

SWAP

Decreasing Short

1,571

9.5700 GBP

0.25p ordinary

SWAP

Decreasing Short

127

9.7143 GBP

0.25p ordinary

SWAP

Increasing Long

821

9.5700 GBP

0.25p ordinary

SWAP

Increasing Long

1

9.6898 GBP

0.25p ordinary

SWAP

Decreasing Short

1,886

9.6526 GBP

0.25p ordinary

SWAP

Increasing Long

2,246

9.6273 GBP

0.25p ordinary

SWAP

Decreasing Short

10,908

9.6461 GBP

0.25p ordinary

SWAP

Increasing Long

14,540

9.6509 GBP

0.25p ordinary

SWAP

Increasing Short

79,337

9.6348 GBP

0.25p ordinary

SWAP

Decreasing Long

7,038

9.6578 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:

12 Jun 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213