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:

28 Apr 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:

1,218,870

1.34%

652,984

0.72%

(2)

Cash-settled derivatives:

and/or controlled:

617,259

0.68%

1,213,732

1.34%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

1,836,129

2.02%

1,866,716

2.06%

(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

179,825

9.1365 GBP

8.8440 GBP

0.25p ordinary

Sale

105,838

9.1360 GBP

8.8555 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

4,012

8.9228 GBP

0.25p ordinary

SWAP

Decreasing Short

1,945

8.8555 GBP

0.25p ordinary

SWAP

Decreasing Short

24,052

8.8560 GBP

0.25p ordinary

SWAP

Decreasing Short

1,214

8.8582 GBP

0.25p ordinary

SWAP

Decreasing Short

1,600

8.8726 GBP

0.25p ordinary

SWAP

Decreasing Short

2,747

8.8737 GBP

0.25p ordinary

SWAP

Decreasing Short

3

8.8738 GBP

0.25p ordinary

SWAP

Decreasing Short

9

8.8844 GBP

0.25p ordinary

SWAP

Decreasing Short

1,134

8.9364 GBP

0.25p ordinary

SWAP

Decreasing Short

168

9.0219 GBP

0.25p ordinary

SWAP

Decreasing Short

6

9.0318 GBP

0.25p ordinary

SWAP

Decreasing Short

800

9.0415 GBP

0.25p ordinary

SWAP

Decreasing Short

222

9.0433 GBP

0.25p ordinary

SWAP

Decreasing Short

537

9.0483 GBP

0.25p ordinary

SWAP

Decreasing Short

205

9.0528 GBP

0.25p ordinary

SWAP

Decreasing Short

2,015

9.0539 GBP

0.25p ordinary

SWAP

Decreasing Short

4,392

9.0660 GBP

0.25p ordinary

SWAP

Decreasing Short

60

9.0686 GBP

0.25p ordinary

SWAP

Decreasing Short

71

9.0979 GBP

0.25p ordinary

SWAP

Decreasing Short

186

9.1013 GBP

0.25p ordinary

SWAP

Decreasing Short

1

9.1160 GBP

0.25p ordinary

SWAP

Decreasing Short

2

9.1360 GBP

0.25p ordinary

SWAP

Increasing Short

1

8.8500 GBP

0.25p ordinary

SWAP

Increasing Short

16,482

8.8560 GBP

0.25p ordinary

SWAP

Increasing Short

1,132

8.8561 GBP

0.25p ordinary

SWAP

Increasing Short

3,270

8.8564 GBP

0.25p ordinary

SWAP

Increasing Short

1,827

8.8649 GBP

0.25p ordinary

SWAP

Increasing Short

1,560

8.8682 GBP

0.25p ordinary

SWAP

Increasing Short

296

8.8709 GBP

0.25p ordinary

SWAP

Increasing Short

144

8.8720 GBP

0.25p ordinary

SWAP

Increasing Short

3

8.8741 GBP

0.25p ordinary

SWAP

Increasing Short

3,696

8.8844 GBP

0.25p ordinary

SWAP

Increasing Short

30

8.8851 GBP

0.25p ordinary

SWAP

Increasing Short

5,054

8.8861 GBP

0.25p ordinary

SWAP

Increasing Short

675

8.8908 GBP

0.25p ordinary

SWAP

Increasing Short

520

8.8960 GBP

0.25p ordinary

SWAP

Increasing Short

27

8.8967 GBP

0.25p ordinary

SWAP

Increasing Short

2,265

8.8988 GBP

0.25p ordinary

SWAP

Increasing Short

993

8.9009 GBP

0.25p ordinary

SWAP

Increasing Short

277

8.9162 GBP

0.25p ordinary

SWAP

Increasing Short

2,457

8.9178 GBP

0.25p ordinary

SWAP

Increasing Short

12

8.9300 GBP

0.25p ordinary

SWAP

Increasing Short

11,822

8.9317 GBP

0.25p ordinary

SWAP

Increasing Short

522

8.9340 GBP

0.25p ordinary

SWAP

Increasing Short

1,929

8.9396 GBP

0.25p ordinary

SWAP

Increasing Short

8,284

8.9414 GBP

0.25p ordinary

SWAP

Increasing Short

1,505

8.9416 GBP

0.25p ordinary

SWAP

Increasing Short

16,992

8.9472 GBP

0.25p ordinary

SWAP

Increasing Short

2,378

8.9542 GBP

0.25p ordinary

SWAP

Increasing Short

39

8.9556 GBP

0.25p ordinary

SWAP

Increasing Short

1,672

8.9613 GBP

0.25p ordinary

SWAP

Increasing Short

539

8.9630 GBP

0.25p ordinary

SWAP

Increasing Short

1,978

8.9914 GBP

0.25p ordinary

SWAP

Increasing Short

6

9.0321 GBP

0.25p ordinary

SWAP

Increasing Short

3

9.0506 GBP

0.25p ordinary

SWAP

Increasing Short

67

9.1260 GBP

0.25p ordinary

SWAP

Increasing Short

15,649

9.1365 GBP

0.25p ordinary

CFD

Decreasing Short

4,399

9.0006 GBP

0.25p ordinary

CFD

Increasing Short

15,186

8.8570 GBP

0.25p ordinary

CFD

Increasing Short

4,520

8.8679 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:

29 Apr 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213