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:

31 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:

9,868,400

0.42%

9,749,407

0.42%

(2) Cash-settled derivatives:

10,350,586

0.44%

7,541,227

0.32%

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

0

0.00%

0

0.00%

TOTAL:

20,218,986

0.86%

17,290,634

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:

1,521,543

0.31%

176,355

0.04%

(2) Cash-settled derivatives:

0

0.00%

1,385,589

0.28%

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

0

0.00%

0

0.00%

TOTAL:

1,521,543

0.31%

1,561,944

0.32%

(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

1529486

1.8290 GBP

1.8100 GBP

LondonMetric Property plc 10p ordinary

Sale

3841824

1.8290 GBP

1.8070 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Purchase

108787

0.4802 GBP

0.4603 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Sale

178543

0.4830 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

Increasing Long

1,414

1.8146 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

1,216,799

1.8150 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

27,020

1.8152 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

195

1.8153 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

20,375

1.8161 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

11

1.8175 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

27,250

1.8186 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

5

1.8192 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

118,888

1.8197 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

49,478

1.8199 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

26

1.8200 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

4,177

1.8208 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

58,934

1.8212 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

157,918

1.8214 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

231,392

1.8219 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

66,600

1.8220 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

300,258

1.8221 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

12,525

1.8227 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

55,393

1.8228 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

115,699

1.8233 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

76

1.8070 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

2,755

1.8100 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

2,568

1.8130 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

123,481

1.8150 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

13,805

1.8151 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

20,120

1.8152 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

22,930

1.8163 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

169

1.8173 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

12,628

1.8190 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

11,974

1.8193 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

33,854

1.8206 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

100

1.8220 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

4,203

1.8221 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

3,200

1.8068 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

15,902

1.8210 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

22,339

1.8216 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

35,291

1.8232 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

97,876

1.8236 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Long

3,200

1.8151 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Long

32,314

1.8202 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

709

0.4790 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

1

0.4645 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

3

0.4653 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

11,996

0.4745 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

5

0.4754 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

6,468

0.4778 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Short

17,667

0.4745 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:

01 Apr 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213