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:

08 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:

10,497,451

0.45%

5,988,993

0.26%

(2) Cash-settled derivatives:

7,189,642

0.31%

6,695,020

0.29%

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

0

0.00%

0

0.00%

TOTAL: 

17,687,093

0.75%

12,684,013

0.54%

Class of relevant security:

Schroder Real Estate Investment Trust Limited ordinary NPV

Interests

Short Positions

Number

(%)

Number

(%)

(1) Relevant securities owned and/or controlled:

1,791,997

0.37%

577,711

0.12%

(2) Cash-settled derivatives:

0

0.00%

1,351,418

0.28%

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

0

0.00%

0

0.00%

TOTAL: 

1,791,997

0.37%

1,929,129

0.39%

(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

2710924

1.9000 GBP

1.8795 GBP

LondonMetric Property plc 10p ordinary

Sale

2012926

1.9010 GBP

1.8760 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Purchase

157726

0.4820 GBP

0.4750 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Sale

126696

0.4812 GBP

0.4750 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

506

1.8760 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

630,009

1.8780 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

12

1.8859 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

884

1.8876 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

711

1.8879 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

7,077

1.8880 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

85,527

1.8882 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

23

1.8895 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

6,739

1.8904 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

49,115

1.8911 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

74

1.8948 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

50,323

1.8812 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

17,281

1.8830 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

4,428

1.8871 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

22,996

1.8876 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

567,432

1.8880 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

4,836

1.8881 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

8,628

1.8882 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

62

1.8883 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

69,901

1.8888 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

4,350

1.8891 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

48,900

1.8894 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

324

1.8901 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

319

1.8921 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

31,796

1.8927 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

127

1.8934 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

190,014

1.8941 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

16,932

1.8959 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

22,099

1.8975 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

126

0.4770 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

315

0.4785 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

27,499

0.4770 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

4,529

0.4811 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Short

724

0.4750 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

2,207

1.8915 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

67,789

1.8942 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

21,854

1.8963 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Long

36,488

1.8880 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Long

40,743

1.8938 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:

11 May 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213