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:

06 Oct 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:

2,232,406

2.50%

161,441

0.18%

(2)

Cash-settled derivatives:

and/or controlled:

144,086

0.16%

2,225,079

2.49%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

2,376,492

2.66%

2,386,520

2.67%

(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

230,342

10.9350 GBP

10.9029 GBP

0.25p ordinary

Sale

142,799

10.9300 GBP

10.9000 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

2,176

10.9100 GBP

0.25p ordinary

SWAP

Increasing Short

5,497

10.9200 GBP

0.25p ordinary

SWAP

Increasing Short

1,078

10.9200 GBP

0.25p ordinary

SWAP

Decreasing Short

6,575

10.9200 GBP

0.25p ordinary

SWAP

Increasing Short

273

10.9110 GBP

0.25p ordinary

SWAP

Decreasing Short

838

10.9127 GBP

0.25p ordinary

SWAP

Decreasing Short

2

10.9300 GBP

0.25p ordinary

SWAP

Increasing Short

28,350

10.9354 GBP

0.25p ordinary

SWAP

Increasing Short

234

10.9118 GBP

0.25p ordinary

SWAP

Decreasing Long

1,912

10.9102 GBP

0.25p ordinary

SWAP

Decreasing Long

711

10.9102 GBP

0.25p ordinary

CFD

Decreasing Short

607

10.9157 GBP

0.25p ordinary

CFD

Decreasing Short

4,390

10.9113 GBP

0.25p ordinary

SWAP

Opening Long

5,325

10.9104 GBP

0.25p ordinary

SWAP

Closing Short

3,338

10.9104 GBP

0.25p ordinary

SWAP

Increasing Short

2,067

10.9176 GBP

0.25p ordinary

SWAP

Decreasing Short

190

10.9100 GBP

0.25p ordinary

SWAP

Increasing Short

1,503

10.9096 GBP

0.25p ordinary

SWAP

Decreasing Short

123

10.9252 GBP

0.25p ordinary

SWAP

Increasing Short

1,259

10.9162 GBP

0.25p ordinary

SWAP

Increasing Short

363

10.9100 GBP

0.25p ordinary

SWAP

Increasing Short

79

10.9109 GBP

0.25p ordinary

SWAP

Increasing Short

27,000

10.9354 GBP

0.25p ordinary

SWAP

Decreasing Short

8,479

10.9089 GBP

0.25p ordinary

CFD

Increasing Short

3,295

10.9167 GBP

0.25p ordinary

SWAP

Closing Short

564

10.9100 GBP

0.25p ordinary

SWAP

Increasing Short

1,626

10.9116 GBP

0.25p ordinary

SWAP

Increasing Short

707

10.9269 GBP

0.25p ordinary

SWAP

Increasing Short

13,500

10.9221 GBP

0.25p ordinary

SWAP

Increasing Short

1,342

10.9150 GBP

0.25p ordinary

SWAP

Increasing Short

535

10.9158 GBP

0.25p ordinary

SWAP

Increasing Short

1,204

10.9300 GBP

0.25p ordinary

SWAP

Increasing Short

4,604

10.9100 GBP

0.25p ordinary

SWAP

Increasing Short

801

10.9150 GBP

0.25p ordinary

SWAP

Decreasing Short

7,232

10.9000 GBP

0.25p ordinary

SWAP

Decreasing Short

148

10.9100 GBP

0.25p ordinary

SWAP

Increasing Short

2,707

10.9167 GBP

0.25p ordinary

SWAP

Decreasing Short

20

10.9100 GBP

0.25p ordinary

SWAP

Increasing Short

6,824

10.9200 GBP

0.25p ordinary

SWAP

Increasing Short

3,687

10.9100 GBP

0.25p ordinary

SWAP

Increasing Short

3,513

10.9139 GBP

0.25p ordinary

SWAP

Increasing Short

1,269

10.9135 GBP

0.25p ordinary

SWAP

Decreasing Short

1,056

10.9100 GBP

0.25p ordinary

SWAP

Increasing Short

12,902

10.9173 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 Oct 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213