Form8.5EPT/NonRIACONSORTIUMCOMPRISINGLONDONMETRICP

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 relevant securities this form relates:

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

(c)

Name of the party to the offer with which exempt principal trader is connected

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

(d)

Date position held/dealing undertaken:

27 Aug 2026

(e)

In addition to the company in 1(b) above, is the exempt principal trader making disclosures in respect of any other party to the offer?

YES: 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:

1,912,547

0.39%

1,938,035

0.40%

(2) Cash-settled derivatives:

1,934,615

0.40%

1,892,444

0.39%

(3) Stock-settled derivatives (including options) and agreements to purchase/sell: 

0

0.00%

0

0.00%

TOTAL: 

3,847,162

0.79%

3,830,479

0.78%

Class of relevant security:

LondonMetric Property plc 10p ordinary

Interests

Short Positions

Number

(%)

Number

(%)

(1) Relevant securities owned and/or controlled:

17,126,441

0.73%

6,469,638

0.28%

(2) Cash-settled derivatives:

6,910,988

0.29%

11,766,858

0.50%

(3) Stock-settled derivatives (including options) and agreements to purchase/sell: 

0

0.00%

0

0.00%

TOTAL: 

24,037,429

1.02%

18,236,496

0.78%

(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)

Purchase and sales

Class of relevant security

Purchase/sale

Total number of securities

Highest price per unit paid/received

Lowest price per unit paid/received

Schroder Real Estate Investment Trust Limited ordinary NPV

Purchase

299596

0.4371 GBP

0.4340 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Sale

116501

0.4375 GBP

0.4340 GBP

LondonMetric Property plc 10p ordinary

Purchase

580765

1.9074 GBP

1.8870 GBP

LondonMetric Property plc 10p ordinary

Sale

1089096

1.9084 GBP

1.8883 GBP

(b)

Cash-settled derivative transactions

Class of relevant security

Product description

Nature of dealing

Number of reference securities

Price per unit

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

1

0.4340 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Opening Long

2,311

0.4339 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

2

0.4347 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Long

5,000

0.4369 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Long

5,000

0.4331 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

340

0.4340 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Closing Long

2,311

0.4340 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Opening Short

137,567

0.4340 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

2,985

0.4340 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Long

13,008

0.4340 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

45,285

0.4340 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

972

0.4360 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

5,121

0.4350 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

1,468

1.8953 GBP

LondonMetric Property plc 10p ordinary

SWAP

Opening Long

324

1.8934 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

12,763

1.8974 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

20,870

1.8958 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

3

1.8966 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

51,927

1.8940 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

109,360

1.8940 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

9,500

1.8870 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

484

1.8940 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

1,034

1.8938 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Short

40,598

1.8903 GBP

LondonMetric Property plc 10p ordinary

CFD

Opening Short

2,223

1.8983 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

8,563

1.8893 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

4

1.9069 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

104

1.8934 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

40

1.8934 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

17,270

1.8943 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

796

1.8942 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

806

1.8938 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

9,187

1.8943 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

133

1.8942 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

1,505

1.8953 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

2,873

1.8938 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

2,281

1.8938 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

300

1.9010 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

100

1.9080 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

18,221

1.8938 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

11,300

1.9071 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

554

1.8940 GBP

LondonMetric Property plc 10p ordinary

CFD

Closing Short

2,223

1.9034 GBP

LondonMetric Property plc 10p ordinary

CFD

Opening Long

6,546

1.9034 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

3

1.9057 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

4,602

1.8940 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

504

1.8953 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

2,448

1.8940 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

2,338

1.8938 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

1,909

1.8938 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

1,571

1.8945 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

61,778

1.8958 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

64

1.8939 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

161

1.8940 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

144,671

1.8940 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

201

1.8940 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

615

1.9020 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

5,991

1.8950 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

13,147

1.8952 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

5,074

1.8945 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

11,490

1.8947 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

138

1.8950 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

6,513

1.8945 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

1,320

1.8910 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

10,367

1.8975 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

591

1.8918 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

60,487

1.8906 GBP

(c)

Stock-settled derivative transactions (including options)

(i)

Writing, selling, purchasing or varying

Class of relevant security

Product description

Writing, purchasing, selling, varying etc

Number of securities to which option relates

Exercise price per unit

Type

Expiry date

Option money paid/ received per unit

(ii)

Exercising

Class of relevant security

Product description

Exercising/ exercised against

Number of securities

Exercise price per unit

(d)

Other dealings (including subscribing for new securities)

Class of relevant security

Nature of Dealings

Details

Price per unit (if 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:

28 Aug 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213