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:

18 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:

11,377,660

0.49%

14,675,232

0.63%

(2)

Cash-settled derivatives:

and/or controlled:

13,825,586

0.59%

4,710,730

0.20%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

25,203,246

1.08%

19,385,962

0.83%

(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

2,200,790

2.1420 GBP

2.1110 GBP

10p ordinary

Sale

5,323,597

2.1420 GBP

2.1110 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

3,186

2.1175 GBP

10p ordinary

SWAP

Increasing Long

174,745

2.1176 GBP

10p ordinary

SWAP

Increasing Long

463

2.1176 USD

10p ordinary

SWAP

Increasing Long

37,985

2.1178 GBP

10p ordinary

SWAP

Increasing Long

915

2.1179 GBP

10p ordinary

SWAP

Increasing Long

1,341,374

2.1180 GBP

10p ordinary

SWAP

Increasing Long

86,828

2.1190 GBP

10p ordinary

SWAP

Increasing Long

613

2.1197 GBP

10p ordinary

SWAP

Increasing Long

185,100

2.1246 GBP

10p ordinary

SWAP

Increasing Long

11,884

2.1259 GBP

10p ordinary

SWAP

Increasing Long

248,993

2.1291 GBP

10p ordinary

SWAP

Increasing Long

37,757

2.1296 GBP

10p ordinary

SWAP

Increasing Long

44,114

2.1298 GBP

10p ordinary

SWAP

Increasing Long

90,267

2.1303 GBP

10p ordinary

SWAP

Increasing Long

325,362

2.1306 GBP

10p ordinary

SWAP

Increasing Long

540,660

2.1307 GBP

10p ordinary

SWAP

Increasing Long

84,190

2.1323 GBP

10p ordinary

SWAP

Increasing Long

14,935

2.1328 GBP

10p ordinary

SWAP

Increasing Long

2,465

2.1351 GBP

10p ordinary

SWAP

Decreasing Long

8,802

2.1169 GBP

10p ordinary

SWAP

Decreasing Long

11,780

2.1180 GBP

10p ordinary

SWAP

Decreasing Long

88,705

2.1181 GBP

10p ordinary

SWAP

Decreasing Long

88,195

2.1189 GBP

10p ordinary

SWAP

Decreasing Long

8,695

2.1200 GBP

10p ordinary

SWAP

Decreasing Long

8,687

2.1208 GBP

10p ordinary

SWAP

Decreasing Long

38,919

2.1239 GBP

10p ordinary

SWAP

Decreasing Long

63,723

2.1264 GBP

10p ordinary

SWAP

Decreasing Long

30

2.1273 GBP

10p ordinary

SWAP

Decreasing Long

52,177

2.1280 GBP

10p ordinary

SWAP

Decreasing Long

201

2.1299 GBP

10p ordinary

SWAP

Decreasing Long

799

2.1300 GBP

10p ordinary

SWAP

Decreasing Long

2,083

2.1311 GBP

10p ordinary

SWAP

Decreasing Long

349

2.1341 GBP

10p ordinary

SWAP

Decreasing Long

38

2.1380 GBP

10p ordinary

CFD

Opening Long

275,941

2.1180 GBP

10p ordinary

CFD

Increasing Long

2,593

2.1198 GBP

10p ordinary

CFD

Increasing Long

165,098

2.1259 GBP

10p ordinary

CFD

Increasing Long

1,196

2.1275 GBP

10p ordinary

CFD

Increasing Long

31,901

2.1295 GBP

10p ordinary

CFD

Increasing Long

6,946

2.1333 GBP

10p ordinary

CFD

Decreasing Long

2,593

2.1181 GBP

10p ordinary

CFD

Decreasing Long

3,132

2.1200 GBP

10p ordinary

CFD

Decreasing Long

41,144

2.1282 GBP

10p ordinary

CFD

Decreasing Long

345

2.1301 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:

19 Feb 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213