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

 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:

20 May 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:

1,538,855

0.31%

601,862

0.12%

(2)

Cash-settled derivatives:

and/or controlled:

61,360

0.01%

1,091,692

0.22%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

1,600,215

0.33%

1,693,554

0.35%

Class of relevant security:

LondonMetric Property plc 10p ordinary

Interests

Short Positions

Number

(%)

Number

(%)

(1)

Relevant securities owned

and/or controlled:

10,907,518

0.47%

5,659,717

0.24%

(2)

Cash-settled derivatives:

and/or controlled:

6,552,344

0.28%

7,625,747

0.33%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

17,459,862

0.74%

13,285,464

0.57%

(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

57,852

0.4790 GBP

0.4650 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Sale

18,030

0.4777 GBP

0.4650 GBP

LondonMetric Property plc 10p ordinary

Purchase

1,899,773

1.8785 GBP

1.8390 GBP

LondonMetric Property plc 10p ordinary

Sale

1,392,458

1.8817 GBP

1.8390 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 Short

136,261

1.8390 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

977

1.8469 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

6,630

1.8511 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

139

1.8518 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

4,715

1.8557 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

21,854

1.8573 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

34,767

1.8579 GBP

LondonMetric Property plc 10p ordinary

SWAP

Opening Long

150,614

1.8589 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

14,490

1.8637 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

107,658

1.8687 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

4,820

1.8716 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

42,057

1.8717 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

101,394

1.8719 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

197,547

1.8720 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

9,423

1.8728 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

8,827

1.8734 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

2,461

1.8750 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

10,260

1.8751 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

56,319

1.8817 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

68,156

1.8390 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

2,692

1.8440 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

52,800

1.8467 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

564

1.8499 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

12,723

1.8510 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

114,772

1.8529 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

14,038

1.8551 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

21,367

1.8556 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

1,333

1.8561 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

210,915

1.8572 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

13,657

1.8580 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

1,181

1.8598 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

23,072

1.8603 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

17,949

1.8617 GBP

LondonMetric Property plc 10p ordinary

SWAP

Opening Short

12,993

1.8621 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

3,437

1.8635 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

25,959

1.8640 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

31

1.8648 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

52,437

1.8689 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

3,525

1.8717 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

91,201

1.8718 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

388,116

1.8720 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

65,600

1.8721 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Short

1

1.8400 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Short

97,766

1.8597 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Short

50,633

1.8721 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Short

71,298

1.8746 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

80

0.4717 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

27

0.4720 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

1,645

0.4790 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

5,143

0.4745 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

3,603

0.4790 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

12,201

0.4728 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Short

4,789

0.4658 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Short

788

0.4789 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Short

25,362

0.4790 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:

21 May 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213