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:

26 Mar 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:

12,037,435

0.51%

7,642,628

0.33%

(2) Cash-settled derivatives:

8,241,618

0.35%

9,721,188

0.41%

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

0

0.00%

0

0.00%

TOTAL: 

20,279,053

0.86%

17,363,816

0.74%

Class of relevant security:

Schroder Real Estate Investment Trust Limited ordinary NPV

Interests

Short Positions

Number

(%)

Number

(%)

(1) Relevant securities owned and/or controlled:

1,451,428

0.30%

195,728

0.04%

(2) Cash-settled derivatives:

0

0.00%

1,325,879

0.27%

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

0

0.00%

0

0.00%

TOTAL: 

1,451,428

0.30%

1,521,607

0.31%

(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

2346899

1.8120 GBP

1.7911 GBP

LondonMetric Property plc 10p ordinary

Sale

1389747

1.8145 GBP

1.7912 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Purchase

76504

0.4720 GBP

0.4635 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Sale

21013

0.4792 GBP

0.4635 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

1

1.7960 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

11,882

1.7992 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

1,581

1.7993 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

3,304

1.7994 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

3

1.7996 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

24,925

1.8003 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

5,411

1.8006 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

78

1.8030 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

41,860

1.8037 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

35,510

1.8039 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

38,570

1.8047 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

1

1.8100 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

4,045

1.8108 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

50,568

1.8278 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

978

1.7911 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

586

1.7950 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

22,901

1.7964 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

23,225

1.7972 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

129,910

1.7975 GBP

LondonMetric Property plc 10p ordinary

SWAP

Opening Short

143,196

1.7985 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

17,220

1.7987 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

1,254

1.7988 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

145,679

1.7998 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

68,300

1.8005 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

130,618

1.8009 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

321,423

1.8010 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

1,214

1.8011 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

42,801

1.8018 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

40,155

1.8026 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

17,600

1.8027 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

13,143

1.8029 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

42,427

1.8060 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

593,522

1.8214 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

1

0.4930 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

53,897

0.4655 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

1

0.4670 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

6,185

0.4677 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

3

0.4678 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

1

0.4715 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

4,862

0.4665 GBP

LondonMetric Property plc 10p ordinary

CFD

Opening Long

200,863

1.8009 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

82,815

1.8012 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

142,447

1.8017 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

5,892

1.8028 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

24,042

1.8095 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

2

1.8100 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Long

94,038

1.7972 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Long

232,770

1.8010 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Long

24,567

1.8011 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Long

2,715

1.8039 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:

27 Mar 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213