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:

19 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:

11,032,040

0.47%

6,291,554

0.27%

(2) Cash-settled derivatives:

7,243,372

0.31%

7,809,774

0.33%

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

0

0.00%

0

0.00%

TOTAL: 

18,275,412

0.78%

14,101,328

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:

1,537,150

0.31%

639,979

0.13%

(2) Cash-settled derivatives:

80,098

0.02%

1,084,698

0.22%

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

0

0.00%

0

0.00%

TOTAL: 

1,617,248

0.33%

1,724,677

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

946819

1.8664 GBP

1.8471 GBP

LondonMetric Property plc 10p ordinary

Sale

1099855

1.8660 GBP

1.8490 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Purchase

103937

0.4779 GBP

0.4626 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Sale

73274

0.4771 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

7,966

1.8496 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

12,095

1.8497 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

6,311

1.8498 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

107,322

1.8500 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

4,898

1.8506 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

8,192

1.8516 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

9,469

1.8519 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

2,109

1.8521 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

283,313

1.8522 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

8,936

1.8537 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

16,018

1.8544 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

1,223

1.8570 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

2,832

1.8575 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

113,194

1.8581 GBP

LondonMetric Property plc 10p ordinary

SWAP

Opening Long

47,227

1.8587 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

407

1.8592 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

2,492

1.8599 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

3,412

1.8650 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

1,001

1.8471 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

14,090

1.8496 GBP

LondonMetric Property plc 10p ordinary

SWAP

Opening Short

49,936

1.8500 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

11,765

1.8501 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

20,530

1.8502 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

35,553

1.8504 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

3,214

1.8510 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

263

1.8525 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

7,768

1.8537 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

23,774

1.8549 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

102

1.8551 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

27,944

1.8555 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

22,850

1.8556 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

24,813

1.8586 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

2,057

1.8601 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

37,460

1.8612 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

84,235

1.8615 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

11,049

1.8630 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

30

0.4672 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

88

0.4697 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

544

0.4700 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

13,846

0.4700 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

5,715

0.4720 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

8,681

0.4721 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

5,411

0.4677 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

15,916

0.4699 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

1,844

0.4719 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

664

0.4739 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

18,592

0.4760 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Short

6,361

0.4700 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Short

32,005

0.4726 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Short

4,529

1.8468 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Short

2

1.8550 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Short

1,279

1.8628 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Short

4,794

1.8501 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Short

74,012

1.8510 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Short

27,985

1.8592 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:

20 May 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213