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 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:

18,851,963

0.80%

5,312,314

0.23%

(2) Cash-settled derivatives:

5,799,078

0.25%

13,635,388

0.58%

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

0

0.00%

0

0.00%

TOTAL: 

24,651,041

1.05%

18,947,702

0.81%

Class of relevant security:

Schroder Real Estate Investment Trust Limited ordinary NPV

Interests

Short Positions

Number

(%)

Number

(%)

(1) Relevant securities owned and/or controlled:

1,774,448

0.36%

1,937,842

0.40%

(2) Cash-settled derivatives:

1,933,304

0.40%

1,754,345

0.36%

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

0

0.00%

0

0.00%

TOTAL: 

3,707,752

0.76%

3,692,187

0.75%

(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

733039

1.9133 GBP

1.8980 GBP

LondonMetric Property plc 10p ordinary

Sale

605228

1.9150 GBP

1.8990 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Purchase

192733

0.4434 GBP

0.4340 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Sale

156616

0.4415 GBP

0.4364 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

101

1.9101 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

187

1.9051 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

2,324

1.9056 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

1,421

1.9057 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

1,338

1.9079 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

196

1.9068 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

24,908

1.9063 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

25,807

1.9054 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

601

1.9050 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

44,285

1.9080 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

194

1.9079 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

6

1.9120 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

39,267

1.9080 GBP

LondonMetric Property plc 10p ordinary

SWAP

Closing Short

65,530

1.9079 GBP

LondonMetric Property plc 10p ordinary

SWAP

Opening Long

13,809

1.9079 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

64,344

1.9065 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

6,533

1.9080 GBP

LondonMetric Property plc 10p ordinary

CFD

Closing Short

2,858

1.9078 GBP

LondonMetric Property plc 10p ordinary

CFD

Opening Long

732

1.9078 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

23

1.9008 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Short

19,859

1.9052 GBP

LondonMetric Property plc 10p ordinary

CFD

Opening Long

4,736

1.9077 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

52

1.9090 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

16

1.9100 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

41

1.9102 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

1,187

1.9056 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

3,005

1.9073 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

2,637

1.9075 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

920

1.9075 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

200

1.9110 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

517

1.9124 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

8

1.9110 GBP

LondonMetric Property plc 10p ordinary

SWAP

Closing Long

13,809

1.9060 GBP

LondonMetric Property plc 10p ordinary

SWAP

Opening Short

29,234

1.9060 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

54,056

1.9081 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

1,459

1.9030 GBP

LondonMetric Property plc 10p ordinary

CFD

Closing Long

732

1.9081 GBP

LondonMetric Property plc 10p ordinary

CFD

Opening Short

2,858

1.9081 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Short

10,976

1.8998 GBP

LondonMetric Property plc 10p ordinary

CFD

Closing Long

4,736

1.9133 GBP

LondonMetric Property plc 10p ordinary

CFD

Opening Short

8,618

1.9133 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

68

1.8997 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

48,625

1.9079 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

4,173

1.9068 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

33,217

1.9080 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Short

720

1.9030 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

3

1.9079 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

4,978

1.9080 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

5,702

1.8980 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Short

1,209

1.9017 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

87

1.9109 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

4,616

1.9067 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

7,828

1.9100 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

47

1.9090 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

29,192

1.9079 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

4,771

1.8990 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

366

1.9080 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

6,559

1.9140 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

1,425

1.9020 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

5,628

1.9008 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

3,739

1.9006 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

305

1.9070 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

2,315

1.9110 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

13,369

1.9062 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

5,272

1.9037 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

75,573

1.9057 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

30,202

1.9081 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

5

0.4368 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

19,781

0.4360 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

15

0.4360 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Long

2,000

0.4404 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Long

5,104

0.4418 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Opening Short

1,141

0.4385 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

5,088

0.4360 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

23,102

0.4360 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Long

2,357

0.4367 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

4,910

0.4375 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

4,483

0.4340 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

7,841

0.4364 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 Aug 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213