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 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:

1,877,319

2.11%

172,425

0.19%

(2)

Cash-settled derivatives:

and/or controlled:

168,721

0.19%

1,870,046

2.10%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

2,046,040

2.30%

2,042,471

2.29%

(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

87,048

11.2809 GBP

11.1975 GBP

0.25p ordinary

Sale

101,606

11.2800 GBP

11.1900 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 Long

2,326

11.2471 GBP

0.25p ordinary

SWAP

Decreasing Short

25

11.2200 GBP

0.25p ordinary

SWAP

Decreasing Long

3,709

11.2400 GBP

0.25p ordinary

SWAP

Increasing Short

311

11.2337 GBP

0.25p ordinary

SWAP

Decreasing Short

4,310

11.2317 GBP

0.25p ordinary

SWAP

Decreasing Long

246

11.2432 GBP

0.25p ordinary

SWAP

Decreasing Short

13,255

11.2426 GBP

0.25p ordinary

SWAP

Increasing Short

260

11.2500 GBP

0.25p ordinary

SWAP

Decreasing Long

3,201

11.2347 GBP

0.25p ordinary

SWAP

Decreasing Long

1,190

11.2347 GBP

0.25p ordinary

CFD

Opening Long

3,160

11.2391 GBP

0.25p ordinary

CFD

Increasing Short

2,822

11.2762 GBP

0.25p ordinary

SWAP

Decreasing Short

8,779

11.2312 GBP

0.25p ordinary

SWAP

Increasing Short

16

11.1975 GBP

0.25p ordinary

SWAP

Decreasing Short

151

11.2988 GBP

0.25p ordinary

SWAP

Increasing Short

17,798

11.2478 GBP

0.25p ordinary

SWAP

Decreasing Short

809

11.2656 GBP

0.25p ordinary

SWAP

Decreasing Short

5,709

11.2063 GBP

0.25p ordinary

SWAP

Increasing Short

3

11.2200 GBP

0.25p ordinary

SWAP

Decreasing Long

777

11.2809 GBP

0.25p ordinary

SWAP

Decreasing Short

170

11.2500 GBP

0.25p ordinary

CFD

Decreasing Short

1,510

11.2356 GBP

0.25p ordinary

SWAP

Increasing Short

443

11.2576 GBP

0.25p ordinary

SWAP

Closing Short

1,174

11.2396 GBP

0.25p ordinary

SWAP

Opening Long

874

11.2396 GBP

0.25p ordinary

SWAP

Decreasing Short

2,644

11.2399 GBP

0.25p ordinary

SWAP

Increasing Long

132

11.2250 GBP

0.25p ordinary

SWAP

Decreasing Short

702

11.2413 GBP

0.25p ordinary

SWAP

Increasing Long

36

11.2650 GBP

0.25p ordinary

SWAP

Decreasing Short

11

11.2082 GBP

0.25p ordinary

SWAP

Increasing Long

102

11.2400 GBP

0.25p ordinary

SWAP

Increasing Short

2,332

11.2400 GBP

0.25p ordinary

SWAP

Increasing Long

222

11.2700 GBP

0.25p ordinary

SWAP

Decreasing Long

848

11.2400 GBP

0.25p ordinary

SWAP

Decreasing Short

34

11.2400 GBP

0.25p ordinary

SWAP

Increasing Long

386

11.2749 GBP

0.25p ordinary

SWAP

Increasing Long

289

11.2500 GBP

0.25p ordinary

SWAP

Decreasing Short

685

11.2400 GBP

0.25p ordinary

SWAP

Increasing Long

391

11.2615 GBP

0.25p ordinary

SWAP

Increasing Long

73

11.2600 GBP

0.25p ordinary

SWAP

Decreasing Short

32

11.2750 GBP

0.25p ordinary

SWAP

Increasing Long

7

11.2664 GBP

0.25p ordinary

SWAP

Increasing Long

196

11.2400 GBP

0.25p ordinary

SWAP

Decreasing Short

3,706

11.2484 GBP

0.25p ordinary

SWAP

Increasing Long

56

11.2600 GBP

0.25p ordinary

SWAP

Increasing Long

1,391

11.2581 GBP

0.25p ordinary

SWAP

Increasing Long

52

11.2685 GBP

0.25p ordinary

SWAP

Increasing Long

771

11.2600 GBP

0.25p ordinary

SWAP

Decreasing Long

360

11.2622 GBP

0.25p ordinary

SWAP

Decreasing Long

808

11.2800 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 Oct 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213