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:

04 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:

1,500,805

1.68%

209,092

0.23%

(2)

Cash-settled derivatives:

and/or controlled:

205,260

0.23%

1,473,766

1.65%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

1,706,065

1.91%

1,682,858

1.89%

(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

331,753

11.6300 GBP

11.5150 GBP

0.25p ordinary

Sale

400,439

11.6411 GBP

11.5070 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

Closing Short

791

11.5443 GBP

0.25p ordinary

SWAP

Decreasing Short

952

11.5302 GBP

0.25p ordinary

SWAP

Decreasing Short

7,028

11.5309 GBP

0.25p ordinary

SWAP

Increasing Long

3,445

11.5460 GBP

0.25p ordinary

SWAP

Increasing Long

1,002

11.5708 GBP

0.25p ordinary

SWAP

Closing Long

4,259

11.5600 GBP

0.25p ordinary

SWAP

Opening Short

1,059

11.5600 GBP

0.25p ordinary

SWAP

Decreasing Long

57

11.5584 GBP

0.25p ordinary

SWAP

Decreasing Short

8,172

11.5600 GBP

0.25p ordinary

SWAP

Decreasing Short

23,855

11.6050 GBP

0.25p ordinary

SWAP

Increasing Short

12,305

11.6050 GBP

0.25p ordinary

SWAP

Increasing Short

11,550

11.6050 GBP

0.25p ordinary

SWAP

Increasing Short

6,226

11.5250 GBP

0.25p ordinary

SWAP

Decreasing Short

1,897

11.5659 GBP

0.25p ordinary

SWAP

Decreasing Long

46

11.5700 GBP

0.25p ordinary

SWAP

Decreasing Long

1,177

11.5600 GBP

0.25p ordinary

SWAP

Decreasing Short

10,423

11.5472 GBP

0.25p ordinary

SWAP

Increasing Short

174,404

11.5599 GBP

0.25p ordinary

SWAP

Increasing Short

2,114

11.5890 GBP

0.25p ordinary

SWAP

Increasing Long

1,175

11.5813 GBP

0.25p ordinary

SWAP

Increasing Long

438

11.5813 GBP

0.25p ordinary

CFD

Closing Short

832

11.5419 GBP

0.25p ordinary

CFD

Decreasing Short

19,347

11.5241 GBP

0.25p ordinary

CFD

Increasing Short

7,361

11.6175 GBP

0.25p ordinary

CFD

Opening Short

10,520

11.5600 GBP

0.25p ordinary

CFD

Decreasing Short

13,996

11.5241 GBP

0.25p ordinary

SWAP

Increasing Short

599

11.5609 GBP

0.25p ordinary

SWAP

Decreasing Short

5,690

11.5486 GBP

0.25p ordinary

SWAP

Increasing Short

6,923

11.5250 GBP

0.25p ordinary

SWAP

Opening Short

376

11.5344 GBP

0.25p ordinary

SWAP

Decreasing Short

79

11.5199 GBP

0.25p ordinary

SWAP

Increasing Long

129

11.5200 GBP

0.25p ordinary

SWAP

Decreasing Long

237

11.5600 GBP

0.25p ordinary

SWAP

Decreasing Long

103

11.5852 GBP

0.25p ordinary

SWAP

Decreasing Short

23,416

11.5250 GBP

0.25p ordinary

SWAP

Increasing Short

6,014

11.5989 GBP

0.25p ordinary

SWAP

Increasing Short

10,267

11.5250 GBP

0.25p ordinary

SWAP

Increasing Short

237

11.5284 GBP

0.25p ordinary

SWAP

Decreasing Short

3,908

11.5605 GBP

0.25p ordinary

SWAP

Decreasing Long

882

11.5920 GBP

0.25p ordinary

SWAP

Decreasing Long

5,504

11.5600 GBP

0.25p ordinary

SWAP

Increasing Short

2,486

11.5929 GBP

0.25p ordinary

SWAP

Increasing Short

786

11.6050 GBP

0.25p ordinary

CFD

Decreasing Short

7,820

11.5731 GBP

0.25p ordinary

SWAP

Increasing Short

264

11.5284 GBP

0.25p ordinary

SWAP

Increasing Short

8,323

11.5778 GBP

0.25p ordinary

SWAP

Decreasing Long

1,755

11.6075 GBP

0.25p ordinary

SWAP

Closing Long

93

11.5600 GBP

0.25p ordinary

SWAP

Opening Short

238

11.5600 GBP

0.25p ordinary

SWAP

Decreasing Short

40,721

11.5399 GBP

0.25p ordinary

SWAP

Increasing Short

6,038

11.5943 GBP

0.25p ordinary

SWAP

Decreasing Long

979

11.5759 GBP

0.25p ordinary

SWAP

Increasing Short

1,256

11.5605 GBP

0.25p ordinary

SWAP

Decreasing Short

277

11.5801 GBP

0.25p ordinary

SWAP

Closing Short

8,699

11.5600 GBP

0.25p ordinary

SWAP

Decreasing Long

1,231

11.6176 GBP

0.25p ordinary

SWAP

Increasing Long

231

11.5700 GBP

0.25p ordinary

SWAP

Decreasing Short

953

11.4919 GBP

0.25p ordinary

SWAP

Closing Long

647

11.5901 GBP

0.25p ordinary

SWAP

Increasing Long

99

11.5783 GBP

0.25p ordinary

SWAP

Increasing Short

3,741

11.5238 GBP

0.25p ordinary

SWAP

Increasing Long

7,527

11.5600 GBP

0.25p ordinary

SWAP

Decreasing Short

10,564

11.5600 GBP

0.25p ordinary

SWAP

Decreasing Long

94

11.5600 GBP

0.25p ordinary

SWAP

Decreasing Short

157,158

11.6200 GBP

0.25p ordinary

SWAP

Increasing Long

8,990

11.5356 GBP

0.25p ordinary

SWAP

Decreasing Short

7,068

11.5141 GBP

0.25p ordinary

SWAP

Increasing Long

225

11.6100 GBP

0.25p ordinary

SWAP

Decreasing Short

312

11.5700 GBP

0.25p ordinary

SWAP

Decreasing Long

22,536

11.5833 GBP

0.25p ordinary

SWAP

Decreasing Short

3,131

11.5319 GBP

0.25p ordinary

SWAP

Increasing Short

532

11.5800 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:

07 Sep 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213