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:

24 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:

LondonMetric Property plc 10p ordinary

Interests

Short Positions

Number

(%)

Number

(%)

(1) Relevant securities owned and/or controlled:

17,888,644

0.76%

5,786,395

0.25%

(2) Cash-settled derivatives:

6,239,680

0.27%

12,633,343

0.54%

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

0

0.00%

0

0.00%

TOTAL: 

24,128,324

1.03%

18,419,738

0.78%

Class of relevant security:

Schroder Real Estate Investment Trust Limited ordinary NPV

Interests

Short Positions

Number

(%)

Number

(%)

(1) Relevant securities owned and/or controlled:

1,819,540

0.37%

1,946,743

0.40%

(2) Cash-settled derivatives:

1,943,323

0.40%

1,799,437

0.37%

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

0

0.00%

0

0.00%

TOTAL: 

3,762,863

0.77%

3,746,180

0.77%

(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

508659

1.9402 GBP

1.9253 GBP

LondonMetric Property plc 10p ordinary

Sale

798984

1.9401 GBP

1.9260 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Purchase

714742

0.4397 GBP

0.4340 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Sale

775604

0.4400 GBP

0.4345 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

Decreasing Short

6

1.9363 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

3,144

1.9353 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

45,965

1.9346 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

23,097

1.9338 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

2

1.9300 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

17,933

1.9400 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

86,733

1.9399 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

51,818

1.9335 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

4,146

1.9389 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

4,735

1.9363 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Short

29,006

1.9355 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Short

9,887

1.9364 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

6,212

1.9361 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

439

1.9286 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

28,900

1.9352 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

14,351

1.9397 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

9,711

1.9397 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

725

1.9403 USD

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

29,541

1.9396 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

4,718

1.9402 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

22,379

1.9398 GBP

LondonMetric Property plc 10p ordinary

SWAP

Opening Short

653

1.9397 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

1,200

1.9353 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

5,549

1.9383 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

21,638

1.9397 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

2,648

1.9397 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

2,726

1.9328 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

3,361

1.9377 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

11,382

1.9401 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

946

1.9390 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

42,813

1.9399 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Short

18,245

1.9261 GBP

LondonMetric Property plc 10p ordinary

CFD

Closing Short

10,632

1.9387 GBP

LondonMetric Property plc 10p ordinary

CFD

Opening Long

10,482

1.9387 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

113

1.9343 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

947

1.9347 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

3,724

1.9325 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

3,383

1.9308 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

770

1.9400 GBP

LondonMetric Property plc 10p ordinary

CFD

Closing Long

10,482

1.9293 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

42

1.9380 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

263

1.9400 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

122,559

1.9400 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

3

1.9299 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

21,363

1.9393 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

8,454

1.9386 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

34

1.9345 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

44,613

1.9400 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

3,738

1.9362 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

127

1.9353 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

17,851

1.9351 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

11,564

1.9355 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

112

1.9399 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

1,231

1.9350 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

22

1.9399 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

7,650

1.9358 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

224

1.9323 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

8,675

1.9316 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

23,808

1.9352 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

2

0.4397 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

5,419

0.4340 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

7

0.4385 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Long

5,000

0.4379 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

2,197

0.4375 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Long

234

0.4400 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

1,048

0.4385 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

1,200

0.4385 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

509

0.4340 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

6,320

0.4340 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

679

0.4345 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

12,075

0.4364 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

24,107

0.4362 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

22,957

0.4385 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:

25 Aug 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213