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:

30 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:

836,247

0.93%

1,090,563

1.21%

(2)

Cash-settled derivatives:

and/or controlled:

1,060,899

1.18%

828,895

0.92%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

1,897,146

2.11%

1,919,458

2.14%

(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

354,656

8.5430 GBP

8.3700 GBP

0.25p ordinary

Sale

85,160

8.4883 GBP

8.3854 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

1,805

8.4061 GBP

0.25p ordinary

SWAP

Decreasing Short

1,574

8.4045 GBP

0.25p ordinary

SWAP

Decreasing Long

75

8.4050 GBP

0.25p ordinary

SWAP

Increasing Long

545

8.4050 GBP

0.25p ordinary

SWAP

Decreasing Long

1,996

8.4241 GBP

0.25p ordinary

SWAP

Decreasing Long

345

8.4130 GBP

0.25p ordinary

SWAP

Decreasing Long

65

8.4394 GBP

0.25p ordinary

SWAP

Decreasing Long

187

8.4443 GBP

0.25p ordinary

SWAP

Increasing Long

801

8.4436 GBP

0.25p ordinary

SWAP

Increasing Long

317

8.4462 GBP

0.25p ordinary

SWAP

Decreasing Long

2,857

8.4210 GBP

0.25p ordinary

SWAP

Increasing Short

103

8.4050 GBP

0.25p ordinary

SWAP

Increasing Short

11,793

8.4050 GBP

0.25p ordinary

SWAP

Increasing Long

7,222

8.4050 GBP

0.25p ordinary

SWAP

Opening Long

297

8.4051 GBP

0.25p ordinary

SWAP

Decreasing Long

6

8.4073 GBP

0.25p ordinary

SWAP

Decreasing Long

15

8.4073 GBP

0.25p ordinary

SWAP

Decreasing Long

3,060

8.4125 GBP

0.25p ordinary

SWAP

Decreasing Long

469

8.4081 GBP

0.25p ordinary

SWAP

Decreasing Long

12,765

8.4238 GBP

0.25p ordinary

SWAP

Decreasing Long

50

8.4073 GBP

0.25p ordinary

SWAP

Decreasing Long

543

8.4073 GBP

0.25p ordinary

SWAP

Opening Short

301

8.4081 GBP

0.25p ordinary

SWAP

Decreasing Long

4,402

8.4193 GBP

0.25p ordinary

SWAP

Increasing Long

900

8.4403 GBP

0.25p ordinary

SWAP

Increasing Long

3,818

8.4126 GBP

0.25p ordinary

SWAP

Decreasing Long

8,337

8.4050 GBP

0.25p ordinary

SWAP

Decreasing Long

980

8.4050 GBP

0.25p ordinary

SWAP

Decreasing Long

414

8.4221 GBP

0.25p ordinary

SWAP

Increasing Long

11,838

8.4045 GBP

0.25p ordinary

SWAP

Decreasing Long

3,933

8.4025 GBP

0.25p ordinary

SWAP

Decreasing Long

12

8.4050 GBP

0.25p ordinary

SWAP

Increasing Short

18,749

8.3866 GBP

0.25p ordinary

SWAP

Increasing Short

95

8.4050 GBP

0.25p ordinary

SWAP

Decreasing Long

3,821

8.4188 GBP

0.25p ordinary

SWAP

Decreasing Long

1,420

8.4188 GBP

0.25p ordinary

CFD

Opening Short

3,564

8.4058 GBP

0.25p ordinary

CFD

Increasing Long

33

8.3700 GBP

0.25p ordinary

CFD

Closing Long

1,186

8.4785 GBP

0.25p ordinary

SWAP

Increasing Short

568

8.4159 GBP

0.25p ordinary

SWAP

Decreasing Long

4,193

8.4180 GBP

0.25p ordinary

SWAP

Increasing Long

2,000

8.3853 GBP

0.25p ordinary

SWAP

Decreasing Short

910

8.4045 GBP

0.25p ordinary

SWAP

Increasing Long

75

8.4423 GBP

0.25p ordinary

SWAP

Decreasing Long

114

8.4050 GBP

0.25p ordinary

SWAP

Decreasing Long

13,936

8.3985 GBP

0.25p ordinary

SWAP

Decreasing Long

671

8.4131 GBP

0.25p ordinary

SWAP

Decreasing Long

1,744

8.4294 GBP

0.25p ordinary

SWAP

Decreasing Short

435

8.4097 GBP

0.25p ordinary

SWAP

Decreasing Long

74,358

8.4050 GBP

0.25p ordinary

SWAP

Increasing Long

1

8.4400 GBP

0.25p ordinary

SWAP

Decreasing Long

2,224

8.4057 GBP

0.25p ordinary

SWAP

Closing Long

42,172

8.4050 GBP

0.25p ordinary

SWAP

Increasing Long

9,260

8.4450 GBP

0.25p ordinary

SWAP

Increasing Short

4,687

8.5044 GBP

0.25p ordinary

SWAP

Increasing Short

12,886

8.4050 GBP

0.25p ordinary

SWAP

Increasing Long

2,362

8.3946 GBP

0.25p ordinary

SWAP

Decreasing Short

44

8.4550 GBP

0.25p ordinary

SWAP

Increasing Long

7,752

8.4101 GBP

0.25p ordinary

SWAP

Increasing Long

139

8.4330 GBP

0.25p ordinary

SWAP

Increasing Long

3,618

8.4045 GBP

0.25p ordinary

SWAP

Increasing Short

9,374

8.5435 GBP

0.25p ordinary

SWAP

Increasing Short

1,356

8.4045 GBP

0.25p ordinary

SWAP

Increasing Long

180

8.4399 GBP

0.25p ordinary

SWAP

Decreasing Short

1

8.4500 GBP

0.25p ordinary

SWAP

Increasing Long

1,900

8.4516 GBP

0.25p ordinary

SWAP

Decreasing Long

35

8.4050 GBP

0.25p ordinary

SWAP

Closing Long

74,689

8.4050 GBP

0.25p ordinary

SWAP

Increasing Short

852

8.4366 GBP

0.25p ordinary

SWAP

Decreasing Short

281

8.4340 GBP

0.25p ordinary

SWAP

Decreasing Long

1,141

8.4167 GBP

0.25p ordinary

SWAP

Increasing Short

2,514

8.4212 GBP

0.25p ordinary

SWAP

Closing Short

2,380

8.4001 GBP

0.25p ordinary

SWAP

Decreasing Long

993

8.4207 GBP

0.25p ordinary

SWAP

Increasing Long

3,607

8.4372 GBP

0.25p ordinary

SWAP

Decreasing Long

4,767

8.4178 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:

01 Jul 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213