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:

13 May 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:

LondonMetric Property plc 10p ordinary

Interests

Short Positions

Number

(%)

Number

(%)

(1) Relevant securities owned and/or controlled:

10,568,568

0.45%

6,985,139

0.30%

(2) Cash-settled derivatives:

7,915,375

0.34%

7,082,041

0.30%

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

0

0.00%

0

0.00%

TOTAL: 

18,483,943

0.79%

14,067,180

0.60%

Class of relevant security:

Schroder Real Estate Investment Trust Limited ordinary NPV

Interests

Short Positions

Number

(%)

Number

(%)

(1) Relevant securities owned and/or controlled:

1,550,847

0.32%

606,457

0.12%

(2) Cash-settled derivatives:

34,672

0.01%

1,108,945

0.23%

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

0

0.00%

0

0.00%

TOTAL: 

1,585,519

0.32%

1,715,402

0.35%

(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

LondonMetric Property plc 10p ordinary

Purchase

1459282

1.8492 GBP

1.8250 GBP

LondonMetric Property plc 10p ordinary

Sale

1864187

1.8490 GBP

1.8252 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Purchase

17483

0.4700 GBP

0.4650 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Sale

20469

0.4685 GBP

0.4651 GBP

(b)

Cash-settled derivative transactions

Class of relevant security

Product description

Nature of dealing

Number of reference securities

Price per unit

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

141,087

1.8280 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

11,300

1.8293 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

8,479

1.8304 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

262,054

1.8306 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

238

1.8320 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

3,091

1.8322 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

65,262

1.8328 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

18,615

1.8340 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

29,377

1.8420 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

39,801

1.8455 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

21,514

1.8473 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

5,630

1.8475 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

165,319

1.8487 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

124,144

1.8489 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

420,983

1.8490 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

1,112

1.8250 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

5,465

1.8280 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

968

1.8289 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

2,893

1.8300 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

1,552

1.8312 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

50,666

1.8317 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

16,017

1.8327 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

5,802

1.8333 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

41,893

1.8335 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

154,428

1.8342 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

880

1.8365 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

1,030

1.8395 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

3,508

1.8397 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

23,621

1.8398 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

106,597

1.8404 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

1,503

1.8410 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

5,972

1.8431 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

43,757

1.8455 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

16,043

1.8456 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

18,034

1.8457 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

78,460

1.8485 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

292,294

1.8492 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

102

0.4681 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

1,450

0.4650 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

540

0.4677 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

1,114

0.4682 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

870

0.4700 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

8,591

0.4651 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

5,231

0.4660 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Short

3,048

0.4666 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Short

3,470

0.4700 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

12,265

1.8409 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

27,372

1.8488 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

1,844

1.8568 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Long

107,018

1.8292 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:

14 May 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213