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 Jul 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:

1,359,751

1.52%

406,622

0.45%

(2)

Cash-settled derivatives:

and/or controlled:

373,564

0.42%

1,355,231

1.52%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

1,733,315

1.94%

1,761,853

1.97%

(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

146,808

9.7374 GBP

9.4810 GBP

0.25p ordinary

Sale

50,115

9.7580 GBP

9.6250 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

603

9.6500 GBP

0.25p ordinary

SWAP

Increasing Short

1,104

9.6504 GBP

0.25p ordinary

SWAP

Decreasing Long

3,571

9.6554 GBP

0.25p ordinary

SWAP

Decreasing Short

449

9.6649 GBP

0.25p ordinary

SWAP

Increasing Short

38

9.6544 GBP

0.25p ordinary

SWAP

Increasing Short

173

9.6676 GBP

0.25p ordinary

SWAP

Increasing Short

222

9.6709 GBP

0.25p ordinary

SWAP

Increasing Long

2,058

9.6503 GBP

0.25p ordinary

SWAP

Decreasing Long

71

9.6555 GBP

0.25p ordinary

SWAP

Closing Short

267

9.6500 GBP

0.25p ordinary

SWAP

Opening Long

254

9.6500 GBP

0.25p ordinary

SWAP

Decreasing Long

29

9.6684 GBP

0.25p ordinary

SWAP

Closing Long

3,686

9.6500 GBP

0.25p ordinary

SWAP

Opening Short

9,372

9.6500 GBP

0.25p ordinary

SWAP

Closing Short

436

9.6500 GBP

0.25p ordinary

SWAP

Decreasing Short

2,987

9.6500 GBP

0.25p ordinary

SWAP

Increasing Long

3,414

9.6512 GBP

0.25p ordinary

SWAP

Decreasing Long

6,963

9.6573 GBP

0.25p ordinary

SWAP

Increasing Short

3,056

9.6544 GBP

0.25p ordinary

SWAP

Decreasing Long

134

9.6450 GBP

0.25p ordinary

SWAP

Decreasing Long

3,617

9.6472 GBP

0.25p ordinary

SWAP

Decreasing Long

2,525

9.6520 GBP

0.25p ordinary

SWAP

Decreasing Long

900

9.6521 GBP

0.25p ordinary

SWAP

Increasing Short

6,750

9.6017 GBP

0.25p ordinary

SWAP

Increasing Short

689

9.6519 GBP

0.25p ordinary

SWAP

Decreasing Long

3,226

9.6552 GBP

0.25p ordinary

SWAP

Decreasing Long

1,199

9.6552 GBP

0.25p ordinary

CFD

Increasing Short

1,688

9.6962 GBP

0.25p ordinary

SWAP

Decreasing Long

773

9.6521 GBP

0.25p ordinary

SWAP

Decreasing Short

364

9.6299 GBP

0.25p ordinary

SWAP

Decreasing Long

3,732

9.7173 GBP

0.25p ordinary

SWAP

Decreasing Long

325

9.6500 GBP

0.25p ordinary

SWAP

Increasing Long

203

9.6800 GBP

0.25p ordinary

SWAP

Increasing Long

81

9.6500 GBP

0.25p ordinary

SWAP

Increasing Long

56

9.6568 GBP

0.25p ordinary

SWAP

Decreasing Long

306

9.6388 GBP

0.25p ordinary

SWAP

Decreasing Short

6,750

9.7581 GBP

0.25p ordinary

SWAP

Increasing Short

1,674

9.6500 GBP

0.25p ordinary

SWAP

Increasing Short

2

9.6500 GBP

0.25p ordinary

SWAP

Decreasing Long

208

9.6905 GBP

0.25p ordinary

SWAP

Decreasing Long

14,036

9.6529 GBP

0.25p ordinary

SWAP

Decreasing Long

606

9.6500 GBP

0.25p ordinary

SWAP

Increasing Short

6,749

9.4816 GBP

0.25p ordinary

SWAP

Increasing Short

10,338

9.6500 GBP

0.25p ordinary

SWAP

Increasing Short

291

9.6550 GBP

0.25p ordinary

SWAP

Increasing Long

1

9.6250 GBP

0.25p ordinary

SWAP

Decreasing Long

1,413

9.6645 GBP

0.25p ordinary

SWAP

Increasing Long

1,516

9.6500 GBP

0.25p ordinary

SWAP

Increasing Short

528

9.6500 GBP

0.25p ordinary

SWAP

Closing Long

371

9.6647 GBP

0.25p ordinary

SWAP

Decreasing Long

59

9.6573 GBP

0.25p ordinary

SWAP

Decreasing Long

7,397

9.6500 GBP

0.25p ordinary

SWAP

Increasing Short

769

9.6835 GBP

0.25p ordinary

SWAP

Decreasing Long

888

9.6765 GBP

0.25p ordinary

SWAP

Increasing Short

2,830

9.6551 GBP

0.25p ordinary

SWAP

Decreasing Long

419

9.6567 GBP

0.25p ordinary

SWAP

Decreasing Long

6,358

9.6539 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 Jul 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213