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:

25 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:

11,784,596

0.50%

8,346,941

0.36%

(2) Cash-settled derivatives:

9,509,802

0.41%

9,552,930

0.41%

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

0

0.00%

0

0.00%

TOTAL: 

21,294,398

0.91%

17,899,871

0.76%

Class of relevant security:

Schroder Real Estate Investment Trust Limited ordinary NPV

Interests

Short Positions

Number

(%)

Number

(%)

(1) Relevant securities owned and/or controlled:

1,396,170

0.29%

195,961

0.04%

(2) Cash-settled derivatives:

0

0.00%

1,270,655

0.26%

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

0

0.00%

0

0.00%

TOTAL: 

1,396,170

0.29%

1,466,616

0.30%

(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

2853256

1.8366 GBP

1.8065 GBP

LondonMetric Property plc 10p ordinary

Sale

834795

1.8295 GBP

1.8126 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Purchase

78886

0.4806 GBP

0.4755 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Sale

59645

0.4834 GBP

0.4786 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

54

1.8000 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

8,254

1.8126 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

41

1.8128 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

129,992

1.8130 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

72,413

1.8145 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

32,088

1.8184 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

88,221

1.8187 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

588

1.8190 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

238,586

1.8222 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

9,913

1.8226 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

12,381

1.8238 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

63,977

1.8260 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

1,398

1.8263 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

8,132

1.8295 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

827,288

1.8130 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

5,448

1.8131 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

6,185

1.8135 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

41,476

1.8139 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

78,267

1.8154 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

32,452

1.8156 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

88,589

1.8161 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

48,622

1.8189 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

13,433

1.8190 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

32,001

1.8191 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

10,840

1.8212 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

254,577

1.8213 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

52

1.8217 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

2,515

1.8235 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

49,123

1.8260 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

40,094

1.8263 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

300

1.8270 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

4

1.8311 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

4,793

1.8328 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

8,584

0.4815 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

9,591

0.4755 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

1,849

0.4775 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

4,432

0.4797 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

4,328

0.4800 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

6,410

0.4796 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

47,435

0.4834 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Short

30,179

0.4755 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Short

2,280

0.4806 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

164,931

1.8147 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

1

1.8200 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

24,914

1.8213 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

3,860

1.8308 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Long

280,963

1.8130 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Long

5,116

1.8131 GBP

LondonMetric Property plc 10p ordinary

CFD

Opening Short

329,862

1.8147 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Short

12,457

1.8213 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Short

7,720

1.8308 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:

26 Mar 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213