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 May 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:

1,395,219

1.54%

1,028,757

1.14%

(2)

Cash-settled derivatives:

and/or controlled:

1,000,654

1.11%

1,395,218

1.54%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

2,395,873

2.65%

2,423,975

2.68%

(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

147,547

9.6650 GBP

9.5170 GBP

0.25p ordinary

Sale

192,660

9.9400 GBP

9.5825 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

951

9.6200 GBP

0.25p ordinary

SWAP

Decreasing Short

4,197

9.6195 GBP

0.25p ordinary

SWAP

Decreasing Long

94

9.6200 GBP

0.25p ordinary

SWAP

Opening Long

11,277

9.6200 GBP

0.25p ordinary

SWAP

Closing Long

11,277

9.6200 GBP

0.25p ordinary

SWAP

Increasing Short

157

9.6650 GBP

0.25p ordinary

SWAP

Increasing Short

82

9.6267 GBP

0.25p ordinary

SWAP

Decreasing Long

329

9.6274 GBP

0.25p ordinary

SWAP

Decreasing Short

2,768

9.6200 GBP

0.25p ordinary

SWAP

Decreasing Short

6,866

9.6200 GBP

0.25p ordinary

SWAP

Decreasing Short

5,420

9.6200 GBP

0.25p ordinary

SWAP

Increasing Long

266

9.6495 GBP

0.25p ordinary

SWAP

Increasing Long

11,434

9.6242 GBP

0.25p ordinary

SWAP

Increasing Long

112

9.6200 GBP

0.25p ordinary

SWAP

Increasing Long

1,839

9.6190 GBP

0.25p ordinary

SWAP

Decreasing Long

1

9.6150 GBP

0.25p ordinary

SWAP

Increasing Long

350

9.6237 GBP

0.25p ordinary

SWAP

Increasing Short

5,623

9.5166 GBP

0.25p ordinary

SWAP

Decreasing Short

306

9.6200 GBP

0.25p ordinary

SWAP

Increasing Long

2

9.9400 GBP

0.25p ordinary

SWAP

Decreasing Long

930

9.6335 GBP

0.25p ordinary

SWAP

Decreasing Long

346

9.6335 GBP

0.25p ordinary

CFD

Opening Short

300

9.5802 GBP

0.25p ordinary

SWAP

Decreasing Short

11,977

9.6190 GBP

0.25p ordinary

SWAP

Opening Short

2,075

9.6200 GBP

0.25p ordinary

SWAP

Increasing Long

294

9.6495 GBP

0.25p ordinary

SWAP

Increasing Long

768

9.6245 GBP

0.25p ordinary

SWAP

Decreasing Short

759

9.6195 GBP

0.25p ordinary

SWAP

Increasing Long

94

9.6227 GBP

0.25p ordinary

SWAP

Increasing Long

246

9.6227 GBP

0.25p ordinary

SWAP

Increasing Short

690

9.6491 GBP

0.25p ordinary

SWAP

Increasing Long

56

9.5949 GBP

0.25p ordinary

SWAP

Decreasing Short

775

9.6260 GBP

0.25p ordinary

SWAP

Increasing Long

16,814

9.6208 GBP

0.25p ordinary

SWAP

Decreasing Long

112

9.6210 GBP

0.25p ordinary

SWAP

Decreasing Long

815

9.6210 GBP

0.25p ordinary

SWAP

Decreasing Long

1

9.6051 GBP

0.25p ordinary

SWAP

Increasing Long

1

9.6182 GBP

0.25p ordinary

SWAP

Increasing Long

1,110

9.6182 GBP

0.25p ordinary

SWAP

Increasing Long

1

9.6048 GBP

0.25p ordinary

SWAP

Increasing Short

306

9.6182 GBP

0.25p ordinary

SWAP

Increasing Short

659

9.6182 GBP

0.25p ordinary

SWAP

Decreasing Long

2

9.6200 GBP

0.25p ordinary

SWAP

Closing Long

168

9.6200 GBP

0.25p ordinary

SWAP

Opening Short

2

9.6200 GBP

0.25p ordinary

CFD

Closing Short

300

9.6346 GBP

0.25p ordinary

CFD

Opening Long

8,510

9.6346 GBP

0.25p ordinary

SWAP

Increasing Short

697

9.6408 GBP

0.25p ordinary

SWAP

Increasing Long

154

9.6210 GBP

0.25p ordinary

SWAP

Decreasing Long

625

9.6133 GBP

0.25p ordinary

SWAP

Increasing Short

742

9.6427 GBP

0.25p ordinary

CFD

Decreasing Long

378

9.6463 GBP

0.25p ordinary

SWAP

Increasing Long

4,093

9.6237 GBP

0.25p ordinary

SWAP

Increasing Long

503

9.6258 GBP

0.25p ordinary

SWAP

Decreasing Short

214

9.6400 GBP

0.25p ordinary

CFD

Increasing Long

119

9.6370 GBP

0.25p ordinary

SWAP

Increasing Long

2,138

9.6280 GBP

0.25p ordinary

SWAP

Decreasing Long

2,060

9.6213 GBP

0.25p ordinary

SWAP

Increasing Short

625

9.6100 GBP

0.25p ordinary

CFD

Closing Long

8,251

9.5950 GBP

0.25p ordinary

CFD

Opening Short

156

9.5950 GBP

0.25p ordinary

SWAP

Decreasing Long

647

9.6057 GBP

0.25p ordinary

SWAP

Increasing Short

3,334

9.6121 GBP

0.25p ordinary

SWAP

Decreasing Long

876

9.6326 GBP

0.25p ordinary

SWAP

Decreasing Long

252

9.6191 GBP

0.25p ordinary

SWAP

Decreasing Long

8,794

9.6153 GBP

0.25p ordinary

SWAP

Increasing Long

239

9.6104 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 Jun 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213