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:

20 Jul 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:

1,486,511

0.30%

114,570

0.02%

(2) Cash-settled derivatives:

114,527

0.02%

1,438,665

0.29%

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

0

0.00%

0

0.00%

TOTAL: 

1,601,038

0.33%

1,553,235

0.32%

Class of relevant security:

LondonMetric Property plc 10p ordinary

Interests

Short Positions

Number

(%)

Number

(%)

(1) Relevant securities owned and/or controlled:

17,285,705

0.74%

6,120,282

0.26%

(2) Cash-settled derivatives:

7,263,763

0.31%

14,234,912

0.61%

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

0

0.00%

0

0.00%

TOTAL: 

24,549,468

1.04%

20,355,194

0.87%

(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

97935

0.4597 GBP

0.4525 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Sale

109251

0.4631 GBP

0.4525 GBP

LondonMetric Property plc 10p ordinary

Purchase

1460683

1.9355 GBP

1.9190 GBP

LondonMetric Property plc 10p ordinary

Sale

1554778

1.9350 GBP

1.9170 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

6,140

0.4575 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

1,011

0.4574 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

5,938

0.4575 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Long

973

0.4586 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Long

2,610

0.4597 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

4,589

0.4555 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

7,492

0.4555 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Long

6,696

0.4602 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

179

1.9251 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

7,114

1.9271 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

77,475

1.9276 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

24,795

1.9261 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

684

1.9248 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

181,869

1.9280 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

5,581

1.9240 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

2,195

1.9240 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

3,386

1.9240 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

6,925

1.9202 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

19,462

1.9275 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

78,200

1.9220 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

364

1.9280 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

2,737

1.9098 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

13,034

1.9280 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Short

28,209

1.9195 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

10,129

1.9212 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

4,000

1.9279 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

15,266

1.9277 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

2,082

1.9271 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

55

1.9251 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

939

1.9282 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

321

1.9251 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

2,828

1.9271 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

2,018

1.9282 GBP

LondonMetric Property plc 10p ordinary

SWAP

Opening Short

26,787

1.9283 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

1,036

1.9283 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

279

1.9292 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

1,529

1.9154 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

253

1.9263 GBP

LondonMetric Property plc 10p ordinary

SWAP

Closing Short

5,103

1.9230 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

10,618

1.9260 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

1,898

1.9290 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Long

2,737

1.9281 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Short

3,238

1.9297 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

2,000

1.9250 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

85

1.9292 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

574

1.9292 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

59,821

1.9280 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

4,568

1.9241 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

132

1.9280 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

6,933

1.9280 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

1,253

1.9321 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

10,322

1.9250 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

3,423

1.9270 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

1,593

1.9335 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

2,736

1.9310 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

1,215

1.9320 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

15,064

1.9275 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

7,545

1.9250 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

1,668

1.9220 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

102,290

1.9292 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

159,163

1.9219 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:

21 Jul 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213