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:

30 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:

10,776,723

0.46%

8,345,392

0.36%

(2) Cash-settled derivatives:

8,902,527

0.38%

8,447,956

0.36%

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

0

0.00%

0

0.00%

TOTAL: 

19,679,250

0.84%

16,793,348

0.72%

Class of relevant security:

Schroder Real Estate Investment Trust Limited ordinary NPV

Interests

Short Positions

Number

(%)

Number

(%)

(1) Relevant securities owned and/or controlled:

1,619,224

0.33%

204,280

0.04%

(2) Cash-settled derivatives:

0

0.00%

1,363,094

0.28%

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

0

0.00%

0

0.00%

TOTAL: 

1,619,224

0.33%

1,567,374

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

1374327

1.8040 GBP

1.7800 GBP

LondonMetric Property plc 10p ordinary

Sale

2392099

1.8041 GBP

1.7800 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Purchase

158350

0.4630 GBP

0.4525 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Sale

53826

0.4630 GBP

0.4537 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

83

1.7831 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

7,703

1.7835 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

1,404

1.7839 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

90

1.7841 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

14,495

1.7853 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

7,220

1.7865 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

7,553

1.7869 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

5,517

1.7870 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

68

1.7874 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

7,393

1.7878 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

97,103

1.7885 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

4

1.7887 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

18,448

1.7895 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

14,569

1.7898 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

97,790

1.7899 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

151

1.7903 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

3,691

1.7910 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

86

1.7919 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

5,190

1.7940 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

18,352

1.7943 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

40,264

1.7946 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

10

1.7956 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

74

1.7965 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

38,232

1.8020 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

34,354

1.8036 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

167,802

1.8038 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

64,833

1.8039 GBP

LondonMetric Property plc 10p ordinary

SWAP

Opening Long

758,935

1.8040 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

8,635

1.7874 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

19,150

1.7883 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

2,799

1.7899 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

37,189

1.7900 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

76,482

1.7914 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

18,838

1.7946 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

9,557

1.7948 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

2,426

1.8000 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

20,050

1.8021 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

115,517

1.8037 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

45,670

1.8040 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

9,511

1.8041 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

2,003

0.4540 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

575

0.4610 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

3,286

0.4525 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

8

0.4580 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

3

0.4596 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

6

0.4610 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

1,419

0.4579 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

15,796

1.7881 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

405

1.7885 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

35,936

1.7997 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Long

40,486

1.7911 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Long

33,152

1.8039 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:

31 Mar 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213