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:

12 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:

10,576,894

0.45%

6,588,560

0.28%

(2) Cash-settled derivatives:

7,425,999

0.32%

6,971,527

0.30%

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

0

0.00%

0

0.00%

TOTAL: 

18,002,893

0.77%

13,560,087

0.58%

Class of relevant security:

Schroder Real Estate Investment Trust Limited ordinary NPV

Interests

Short Positions

Number

(%)

Number

(%)

(1) Relevant securities owned and/or controlled:

1,547,002

0.32%

599,626

0.12%

(2) Cash-settled derivatives:

27,368

0.01%

1,105,073

0.23%

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

0

0.00%

0

0.00%

TOTAL: 

1,574,370

0.32%

1,704,699

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

1589083

1.8550 GBP

1.8379 GBP

LondonMetric Property plc 10p ordinary

Sale

1504633

1.8540 GBP

1.8389 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Purchase

99717

0.4657 GBP

0.4528 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Sale

376655

0.4680 GBP

0.4547 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

50,732

1.8404 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

6,303

1.8407 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

15,376

1.8416 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

179,052

1.8419 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

452,893

1.8420 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

32,414

1.8421 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

19

1.8426 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

148,577

1.8428 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

28,440

1.8429 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

8,637

1.8450 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

500

1.8457 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

8,945

1.8466 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

2,571

1.8412 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

11,471

1.8413 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

55,227

1.8418 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

28,269

1.8419 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

113,090

1.8420 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

42,793

1.8421 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

52,741

1.8422 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

41,055

1.8424 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

15,100

1.8427 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

36,771

1.8428 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

187,214

1.8430 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

8,262

1.8431 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

30,500

1.8435 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

16,338

1.8436 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

148

1.8437 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

93,892

1.8438 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

35,176

1.8443 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

33,742

1.8444 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

251,569

1.8449 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

34

1.8460 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

12,667

1.8463 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

105

0.4567 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

21,407

0.4571 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

33,360

0.4575 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

1,375

0.4585 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

3,362

0.4605 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

197,090

0.4680 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

4,029

0.4569 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

604

0.4580 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

7,428

0.4625 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

5,280

0.4619 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

50,315

0.4671 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Short

1,100

0.4500 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Short

10,579

0.4579 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Short

4,281

0.4580 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Short

6,048

0.4614 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Short

2,039

0.4657 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

7,974

1.8403 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

95,354

1.8418 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

27,021

1.8422 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Long

1

1.8400 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Long

67,321

1.8486 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:

13 May 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213