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:

15 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:

10,925,593

0.47%

6,147,839

0.26%

(2) Cash-settled derivatives:

7,151,441

0.30%

7,764,369

0.33%

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

0

0.00%

0

0.00%

TOTAL: 

18,077,034

0.77%

13,912,208

0.59%

Class of relevant security:

Schroder Real Estate Investment Trust Limited ordinary NPV

Interests

Short Positions

Number

(%)

Number

(%)

(1) Relevant securities owned and/or controlled:

1,542,162

0.32%

642,048

0.13%

(2) Cash-settled derivatives:

81,216

0.02%

1,100,255

0.22%

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

0

0.00%

0

0.00%

TOTAL: 

1,623,378

0.33%

1,742,303

0.36%

(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

2166047

1.8400 GBP

1.8040 GBP

LondonMetric Property plc 10p ordinary

Sale

2046940

1.8520 GBP

1.8040 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Purchase

17708

0.4768 GBP

0.4669 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Sale

45893

0.4767 GBP

0.4649 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

34,000

1.8092 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

2,808

1.8137 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

11,445

1.8151 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

15,783

1.8161 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

4,054

1.8192 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

22,715

1.8199 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

57,318

1.8217 GBP

LondonMetric Property plc 10p ordinary

SWAP

Opening Long

344,052

1.8219 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

38,620

1.8220 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

15,312

1.8229 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

6,652

1.8247 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

97,327

1.8267 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

5,094

1.8334 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

196,179

1.8177 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

131,995

1.8189 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

3,855

1.8196 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

19,980

1.8199 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

119,801

1.8203 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

12,413

1.8206 GBP

LondonMetric Property plc 10p ordinary

SWAP

Opening Short

38,301

1.8207 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

44,566

1.8209 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

16,553

1.8217 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

379,428

1.8220 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

32,052

1.8227 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

10,119

1.8229 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

3,193

1.8230 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

77

1.8235 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

48,595

1.8255 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

97,600

1.8258 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

280

1.8291 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

9,555

1.8294 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

179

1.8381 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

839

1.8397 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

1,708

0.4659 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

915

0.4675 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

22

0.4677 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

3,568

0.4690 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

62

0.4690 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

1,369

0.4649 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

28,346

0.4691 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

291

0.4750 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Short

34

0.4670 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Short

4,010

0.4690 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Short

1

1.8100 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Short

3,066

1.8142 GBP

LondonMetric Property plc 10p ordinary

CFD

Opening Long

130,922

1.8156 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

165,372

1.8183 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

39,892

1.8218 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

45,276

1.8219 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

24,000

1.8265 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Long

209,870

1.8082 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Long

20,618

1.8189 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Long

19,510

1.8235 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Long

31,546

1.8236 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:

18 May 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213