Form 8.5 EPT/Non RI LONDONMETRIC PROPERTY 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

LONDONMETRIC PROPERTY PLC

relevant securities this form relates:

(c)

Name of the party to the offer with which exempt

PICTON PROPERTY INCOME LTD

principal trader is connected

(d)

Date position held/dealing undertaken:

20 Feb 2026

(e)

In addition to the company in 1(b) above, is the exempt principal

YES:

trader making disclosures in respect of any other party to the offer?

PICTON PROPERTY INCOME LIMITED

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:

10p ordinary

Interests

Short Positions

Number

(%)

Number

(%)

(1)

Relevant securities owned

and/or controlled:

10,642,231

0.45%

16,015,864

0.68%

(2)

Cash-settled derivatives:

and/or controlled:

15,456,540

0.66%

3,900,022

0.17%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

26,098,771

1.11%

19,915,886

0.85%

(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

10p ordinary

Purchase

1,351,427

2.1460 GBP

2.1180 GBP

10p ordinary

Sale

884,135

2.1460 GBP

2.1180 GBP

(b)

Cash-settled derivative transactions

Class of

Product

Nature of dealing

Number of

Price per

relevant

description

reference

unit

security

securities

10p ordinary

SWAP

Increasing Long

2,455

2.1225 GBP

10p ordinary

SWAP

Increasing Long

7,657

2.1266 GBP

10p ordinary

SWAP

Increasing Long

1,403

2.1283 GBP

10p ordinary

SWAP

Increasing Long

44,294

2.1294 GBP

10p ordinary

SWAP

Increasing Long

8,838

2.1313 GBP

10p ordinary

SWAP

Increasing Long

31,815

2.1320 GBP

10p ordinary

SWAP

Increasing Long

1,889

2.1338 GBP

10p ordinary

SWAP

Increasing Long

888

2.1339 GBP

10p ordinary

SWAP

Increasing Long

18,281

2.1340 GBP

10p ordinary

SWAP

Increasing Long

16,764

2.1344 GBP

10p ordinary

SWAP

Increasing Long

2,933

2.1350 GBP

10p ordinary

SWAP

Increasing Long

279,993

2.1360 GBP

10p ordinary

SWAP

Increasing Long

6,716

2.1362 GBP

10p ordinary

SWAP

Increasing Long

1,708

2.1371 GBP

10p ordinary

SWAP

Increasing Long

320

2.1394 GBP

10p ordinary

SWAP

Increasing Long

7,286

2.1400 GBP

10p ordinary

SWAP

Increasing Long

12,367

2.1420 GBP

10p ordinary

SWAP

Decreasing Long

24

2.1237 GBP

10p ordinary

SWAP

Decreasing Long

9,500

2.1246 GBP

10p ordinary

SWAP

Decreasing Long

6

2.1253 GBP

10p ordinary

SWAP

Decreasing Long

26,374

2.1255 GBP

10p ordinary

SWAP

Decreasing Long

31,468

2.1257 GBP

10p ordinary

SWAP

Decreasing Long

52,055

2.1293 GBP

10p ordinary

SWAP

Decreasing Long

36,085

2.1296 GBP

10p ordinary

SWAP

Decreasing Long

93,283

2.1297 GBP

10p ordinary

SWAP

Decreasing Long

6,609

2.1302 GBP

10p ordinary

SWAP

Decreasing Long

21,986

2.1304 GBP

10p ordinary

SWAP

Decreasing Long

2,234

2.1314 GBP

10p ordinary

SWAP

Decreasing Long

41,300

2.1319 GBP

10p ordinary

SWAP

Decreasing Long

15,646

2.1320 GBP

10p ordinary

SWAP

Decreasing Long

680

2.1322 GBP

10p ordinary

SWAP

Decreasing Long

16,944

2.1325 GBP

10p ordinary

SWAP

Decreasing Long

27

2.1348 GBP

10p ordinary

SWAP

Decreasing Long

8,152

2.1356 GBP

10p ordinary

SWAP

Decreasing Long

140,066

2.1358 GBP

10p ordinary

SWAP

Decreasing Long

40,616

2.1360 GBP

10p ordinary

SWAP

Decreasing Long

1,000

2.1362 GBP

10p ordinary

SWAP

Decreasing Long

53,412

2.1373 GBP

10p ordinary

SWAP

Decreasing Long

61

2.1399 GBP

10p ordinary

SWAP

Decreasing Long

44,092

2.1419 GBP

10p ordinary

CFD

Increasing Long

18,962

2.1244 GBP

10p ordinary

CFD

Increasing Long

23,769

2.1269 GBP

10p ordinary

CFD

Increasing Long

79,679

2.1308 GBP

10p ordinary

CFD

Increasing Long

4,055

2.1383 GBP

10p ordinary

CFD

Decreasing Long

10,990

2.1324 GBP

10p ordinary

CFD

Decreasing Long

40,321

2.1358 GBP

10p ordinary

CFD

Decreasing Long

121,181

2.1419 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:

23 Feb 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213