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:

27 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:

10,386,496

0.44%

6,958,984

0.30%

(2) Cash-settled derivatives:

7,523,638

0.32%

7,181,361

0.31%

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

0

0.00%

0

0.00%

TOTAL: 

17,910,134

0.76%

14,140,345

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:

1,522,755

0.31%

548,445

0.11%

(2) Cash-settled derivatives:

44,793

0.01%

1,080,738

0.22%

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

0

0.00%

0

0.00%

TOTAL: 

1,567,548

0.32%

1,629,183

0.33%

(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

1084515

1.9110 GBP

1.9000 GBP

LondonMetric Property plc 10p ordinary

Sale

1851421

1.9110 GBP

1.8986 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Purchase

26446

0.4885 GBP

0.4840 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Sale

26760

0.4880 GBP

0.4840 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

215

1.8988 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

10,112

1.9028 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

42,260

1.9029 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

214,653

1.9030 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

5,239

1.9046 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

938

1.9049 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

25,198

1.9055 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

158,356

1.9057 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

128,820

1.9059 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

39,605

1.9061 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

48,725

1.9062 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

92,198

1.9066 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

3,932

1.9075 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

2,966

1.9076 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

330

1.9080 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

1,797

1.9096 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

403

1.8910 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

492

1.9024 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

64,836

1.9030 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

1,292

1.9031 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

33,927

1.9032 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

102

1.9033 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

13,820

1.9041 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

3,063

1.9051 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

2,929

1.9060 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

2,353

1.9069 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

100

1.9070 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

10,406

1.9074 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

1,305

1.9090 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

9,454

1.9096 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

5,828

0.4855 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

10,781

0.4880 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

2,031

0.4885 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

1,281

0.4839 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

2,042

0.4868 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

17,250

0.4878 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Short

5,392

0.4849 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Short

294

0.4855 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Short

2,826

1.8908 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Short

5,838

1.9068 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Short

2,826

1.9031 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Short

43,210

1.9035 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:

28 May 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213