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:

29 Sep 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:

1,896,884

2.13%

177,432

0.20%

(2)

Cash-settled derivatives:

and/or controlled:

174,048

0.20%

1,889,767

2.12%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

2,070,932

2.32%

2,067,199

2.32%

(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

101,580

11.4400 GBP

11.1570 GBP

0.25p ordinary

Sale

152,626

11.2700 GBP

11.2100 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

2,326

11.2519 GBP

0.25p ordinary

SWAP

Decreasing Long

168

11.2600 GBP

0.25p ordinary

SWAP

Opening Short

2,008

11.2500 GBP

0.25p ordinary

SWAP

Increasing Long

6,582

11.2500 GBP

0.25p ordinary

SWAP

Decreasing Short

3,088

11.2466 GBP

0.25p ordinary

SWAP

Decreasing Short

1,095

11.2464 GBP

0.25p ordinary

SWAP

Increasing Long

819

11.2416 GBP

0.25p ordinary

SWAP

Increasing Short

10,800

11.1578 GBP

0.25p ordinary

SWAP

Decreasing Short

180

11.2700 GBP

0.25p ordinary

SWAP

Increasing Short

9

11.4400 GBP

0.25p ordinary

SWAP

Decreasing Long

5,352

11.2489 GBP

0.25p ordinary

SWAP

Decreasing Long

1,990

11.2489 GBP

0.25p ordinary

CFD

Closing Short

2,115

11.2515 GBP

0.25p ordinary

CFD

Decreasing Short

3,465

11.2265 GBP

0.25p ordinary

SWAP

Increasing Short

539

11.2633 GBP

0.25p ordinary

SWAP

Decreasing Short

17,308

11.2473 GBP

0.25p ordinary

SWAP

Decreasing Short

4,000

11.2488 GBP

0.25p ordinary

SWAP

Increasing Short

3

11.4403 GBP

0.25p ordinary

SWAP

Decreasing Short

1,616

11.2500 GBP

0.25p ordinary

SWAP

Decreasing Short

814

11.2400 GBP

0.25p ordinary

SWAP

Decreasing Short

642

11.2480 GBP

0.25p ordinary

SWAP

Decreasing Long

144

11.2600 GBP

0.25p ordinary

SWAP

Decreasing Short

11,431

11.2500 GBP

0.25p ordinary

CFD

Increasing Short

1,478

11.2509 GBP

0.25p ordinary

SWAP

Increasing Short

1,616

11.2350 GBP

0.25p ordinary

SWAP

Increasing Short

642

11.2480 GBP

0.25p ordinary

SWAP

Increasing Short

652

11.2496 GBP

0.25p ordinary

SWAP

Decreasing Long

254

11.2800 GBP

0.25p ordinary

SWAP

Decreasing Short

2,403

11.2500 GBP

0.25p ordinary

SWAP

Decreasing Short

2,047

11.2482 GBP

0.25p ordinary

SWAP

Increasing Long

86

11.2375 GBP

0.25p ordinary

SWAP

Increasing Short

3,498

11.2500 GBP

0.25p ordinary

SWAP

Increasing Long

888

11.2500 GBP

0.25p ordinary

SWAP

Decreasing Short

899

11.2400 GBP

0.25p ordinary

SWAP

Increasing Long

102

11.2500 GBP

0.25p ordinary

SWAP

Decreasing Short

326

11.2570 GBP

0.25p ordinary

SWAP

Decreasing Long

1,272

11.2500 GBP

0.25p ordinary

SWAP

Decreasing Short

10,625

11.2518 GBP

0.25p ordinary

SWAP

Increasing Long

818

11.2550 GBP

0.25p ordinary

SWAP

Increasing Long

40

11.2100 GBP

0.25p ordinary

SWAP

Increasing Long

13,688

11.2500 GBP

0.25p ordinary

SWAP

Decreasing Long

1,238

11.2371 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:

30 Sep 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213