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:

18 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:

11,046,625

0.47%

6,153,103

0.26%

(2) Cash-settled derivatives:

7,164,599

0.31%

7,889,032

0.34%

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

0

0.00%

0

0.00%

TOTAL: 

18,211,224

0.78%

14,042,135

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:

1,521,021

0.31%

654,513

0.13%

(2) Cash-settled derivatives:

98,028

0.02%

1,079,109

0.22%

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

0

0.00%

0

0.00%

TOTAL: 

1,619,049

0.33%

1,733,622

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

1286509

1.8466 GBP

1.8140 GBP

LondonMetric Property plc 10p ordinary

Sale

1170741

1.8460 GBP

1.8130 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Purchase

24093

0.4742 GBP

0.4607 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Sale

57699

0.4742 GBP

0.4610 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

81,517

1.8235 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

12,585

1.8238 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

549

1.8249 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

62,865

1.8254 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

7,999

1.8266 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

28,378

1.8280 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

40,709

1.8304 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

3,787

1.8322 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

16,474

1.8359 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

5,086

1.8400 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

35,098

1.8416 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

11,021

1.8417 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

6,389

1.8419 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

51,602

1.8420 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

12,762

1.8423 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

2,524

1.8174 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

86,353

1.8183 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

7,326

1.8194 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

5,596

1.8226 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

7,630

1.8239 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

3,333

1.8240 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

1,923

1.8267 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

1,335

1.8281 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

413

1.8303 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

48

1.8310 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

3,713

1.8347 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

27,023

1.8369 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

16,835

1.8372 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

13,459

1.8377 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

57,104

1.8385 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

28,907

1.8419 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

6,148

1.8420 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

25,047

1.8421 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

3,837

1.8423 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

9,623

1.8434 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

18,685

0.4650 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

78

0.4685 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

25

0.4687 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

2,016

0.4690 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

2,278

0.4610 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

5,398

0.4629 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

17,871

0.4715 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Short

1,242

0.4607 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Short

6,487

0.4690 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Short

664

0.4720 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

1,468

1.8129 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

3,352

1.8248 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

3,633

1.8297 GBP

LondonMetric Property plc 10p ordinary

CFD

Opening Short

156,537

1.8304 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Short

29,648

1.8420 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Short

2,417

1.8421 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:

19 May 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213