Form 8.5- LondonMetric Property & Schroder REIT

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

 A CONSORTIUM COMPRISING LONDONMETRIC PROPERTY PLC AND SCHRODER REAL ESTATE INVESTMENT TRUST LIMITED

relevant securities this form relates:

(c)

Name of the party to the offer with which exempt

 A CONSORTIUM COMPRISING LONDONMETRIC PROPERTY PLC AND SCHRODER REAL ESTATE INVESTMENT TRUST LIMITED

principal trader is connected

(d)

Date position held/dealing undertaken:

09 Sep 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:

Schroder Real Estate Investment Trust Limited ordinary NPV

Interests

Short Positions

Number

(%)

Number

(%)

(1)

Relevant securities owned

and/or controlled:

809,059

0.17%

2,452,028

0.50%

(2)

Cash-settled derivatives:

and/or controlled:

2,452,028

0.50%

805,932

0.16%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

3,261,087

0.67%

3,257,960

0.67%

Class of relevant security:

LondonMetric Property plc 10p ordinary

Interests

Short Positions

Number

(%)

Number

(%)

(1)

Relevant securities owned

and/or controlled:

16,429,780

0.70%

10,077,583

0.43%

(2)

Cash-settled derivatives:

and/or controlled:

10,502,332

0.45%

11,056,993

0.47%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

26,932,112

1.15%

21,134,576

0.90%

(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

Schroder Real Estate Investment Trust Limited ordinary NPV

Purchase

358,849

0.4420 GBP

0.4175 GBP

LondonMetric Property plc 10p ordinary

Purchase

2,469,408

1.8180 GBP

1.7881 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Sale

482,090

0.4420 GBP

0.4175 GBP

LondonMetric Property plc 10p ordinary

Sale

4,495,234

1.8171 GBP

1.7880 GBP

(b)

Cash-settled derivative transactions

Class of

Product

Nature of dealing

Number of

Price per

relevant

description

reference

unit

security

securities

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

238

1.7971 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

11,196

1.7987 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

4,094

1.8074 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

3,151

1.8048 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

1,786

1.8037 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

7,358

1.8093 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

607

1.7936 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

26,004

1.8071 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

388

1.7998 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

100,591

1.7950 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

13,871

1.7979 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

45,171

0.4175 GBP

LondonMetric Property plc 10p ordinary

SWAP

Closing Short

179,315

1.7951 GBP

LondonMetric Property plc 10p ordinary

SWAP

Opening Long

217,296

1.7951 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Long

9,003

0.4281 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

37,982

1.7950 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

2,152

0.4175 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

32,921

1.7949 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

132,230

1.7951 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

28,164

0.4256 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

15,129

1.8010 GBP

LondonMetric Property plc 10p ordinary

CFD

Closing Short

8,714

1.7948 GBP

LondonMetric Property plc 10p ordinary

CFD

Opening Long

67,772

1.7948 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Long

4,792

0.4291 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Long

5,000

0.4354 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Long

133,224

1.7951 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

20,631

0.4279 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Long

14,664

0.4322 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Short

64,642

1.8043 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Opening Short

19,233

0.4299 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

3,169

1.7945 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

11

1.8159 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

3,044

1.7954 USD

LondonMetric Property plc 10p ordinary

SWAP

Opening Long

12,445

1.7966 GBP

LondonMetric Property plc 10p ordinary

SWAP

Closing Short

8,390

1.7966 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

4,551

1.7987 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

2,080

1.7957 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

28,406

1.7945 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

15

1.7926 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

16,643

1.7945 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

81

1.7927 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

4,667

1.7987 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

3,743

1.7930 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

9,435

1.7945 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

749

1.7869 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

2,438

1.7957 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

800

1.7948 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

14,448

0.4269 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

679,335

1.7950 GBP

LondonMetric Property plc 10p ordinary

SWAP

Closing Long

234,172

1.7950 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

21,045

0.4175 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

34,444

1.7955 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

42,170

1.7997 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

355

0.4315 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

30,807

1.7950 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

146,520

1.7915 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Short

2,720

1.8012 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

8,968

0.4293 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

9

1.7901 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

8,390

1.7997 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

2,127

1.7952 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

236

1.8107 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

200

1.7895 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

118

0.4299 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

558

1.8180 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

1,385

0.4254 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

37,761

1.8043 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

23,600

1.8091 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

52,174

0.4175 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

901,727

1.7950 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

57,009

1.7987 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Short

32,340

0.4300 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

2,476

1.7960 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

6,115

0.4283 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

321

1.8080 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

7,405

0.4175 GBP

LondonMetric Property plc 10p ordinary

SWAP

Closing Short

236,479

1.7950 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

11,100

0.4272 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

33,264

1.8040 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

25,629

0.4200 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

30,713

0.4281 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

278

1.8020 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

2,396

0.4175 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

14,811

0.4293 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

62,206

1.8004 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

56

1.7900 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Closing Short

118,587

0.4175 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

15,333

1.8018 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

2,549

1.8017 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

11,160

1.7950 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

301

1.8030 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

7,363

1.7889 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

489,952

1.8170 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

36,263

1.8053 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

757

1.8030 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

186,962

1.7979 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

17,187

1.8007 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:

10 Sep 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213