Barclays Regulatory News (BARC)

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

GAMMA COMMUNICATIONS PLC

relevant securities this form relates:

(c)

Name of the party to the offer with which exempt

GAMMA COMMUNICATIONS PLC

principal trader is connected

(d)

Date position held/dealing undertaken:

15 Apr 2026

(e)

In addition to the company in 1(b) above, is the exempt principal

NO

trader making disclosures in respect of any other party to the offer?

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:

0.25p ordinary

Interests

Short Positions

Number

(%)

Number

(%)

(1)

Relevant securities owned

and/or controlled:

1,491,868

1.64%

530,621

0.58%

(2)

Cash-settled derivatives:

and/or controlled:

460,545

0.51%

1,486,734

1.63%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

1,952,413

2.15%

2,017,355

2.22%

(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)

Purchases and sales

Class of relevant

Purchase/sale

Total number of

Highest price per unit

Lowest price per unit

security

securities

paid/received

paid/received

0.25p ordinary

Purchase

182,808

8.8360 GBP

8.5970 GBP

0.25p ordinary

Sale

651,934

8.8360 GBP

8.7415 GBP

(b)

Cash-settled derivative transactions

Class of

Product

Nature of dealing

Number of

Price per

relevant

description

reference

unit

security

securities

0.25p ordinary

SWAP

Decreasing Short

2,000

8.6991 GBP

0.25p ordinary

SWAP

Decreasing Short

96

8.7057 GBP

0.25p ordinary

SWAP

Decreasing Short

114

8.7699 GBP

0.25p ordinary

SWAP

Decreasing Short

193

8.7855 GBP

0.25p ordinary

SWAP

Decreasing Short

130

8.7900 GBP

0.25p ordinary

SWAP

Decreasing Short

13,484

8.7940 GBP

0.25p ordinary

SWAP

Decreasing Short

1,260

8.8022 GBP

0.25p ordinary

SWAP

Decreasing Short

1

8.8040 GBP

0.25p ordinary

SWAP

Decreasing Short

105

8.8050 GBP

0.25p ordinary

SWAP

Decreasing Short

677

8.8067 GBP

0.25p ordinary

SWAP

Decreasing Short

1,125

8.8075 GBP

0.25p ordinary

SWAP

Decreasing Short

4,402

8.8078 GBP

0.25p ordinary

SWAP

Decreasing Short

485,829

8.8080 GBP

0.25p ordinary

SWAP

Decreasing Short

15,121

8.8087 GBP

0.25p ordinary

SWAP

Decreasing Short

1,525

8.8101 GBP

0.25p ordinary

SWAP

Decreasing Short

22,644

8.8127 GBP

0.25p ordinary

SWAP

Decreasing Short

491

8.8133 GBP

0.25p ordinary

SWAP

Decreasing Short

7,285

8.8135 GBP

0.25p ordinary

SWAP

Decreasing Short

2,316

8.8194 GBP

0.25p ordinary

SWAP

Decreasing Short

66

8.8199 GBP

0.25p ordinary

SWAP

Decreasing Short

25,648

8.8201 GBP

0.25p ordinary

SWAP

Decreasing Short

385

8.8207 GBP

0.25p ordinary

SWAP

Decreasing Short

142

8.8225 GBP

0.25p ordinary

SWAP

Decreasing Short

1,791

8.8258 GBP

0.25p ordinary

SWAP

Decreasing Short

778

8.8268 GBP

0.25p ordinary

SWAP

Increasing Short

5,625

8.5979 GBP

0.25p ordinary

SWAP

Increasing Short

337

8.7527 GBP

0.25p ordinary

SWAP

Increasing Short

5,046

8.7734 GBP

0.25p ordinary

SWAP

Increasing Short

3,990

8.7913 GBP

0.25p ordinary

SWAP

Increasing Short

384

8.7969 GBP

0.25p ordinary

SWAP

Increasing Short

283

8.7977 GBP

0.25p ordinary

SWAP

Increasing Short

548

8.8041 GBP

0.25p ordinary

SWAP

Increasing Short

573

8.8046 GBP

0.25p ordinary

SWAP

Increasing Short

4,434

8.8080 GBP

0.25p ordinary

SWAP

Increasing Short

4,170

8.8081 GBP

0.25p ordinary

SWAP

Increasing Short

71,853

8.8084 GBP

0.25p ordinary

SWAP

Increasing Short

349

8.8152 GBP

0.25p ordinary

SWAP

Increasing Short

3,297

8.8163 GBP

0.25p ordinary

SWAP

Increasing Short

2,625

8.8164 GBP

0.25p ordinary

SWAP

Increasing Short

2,396

8.8187 GBP

0.25p ordinary

SWAP

Increasing Short

2,666

8.8191 GBP

0.25p ordinary

SWAP

Increasing Short

2,022

8.8265 GBP

0.25p ordinary

SWAP

Increasing Short

41

8.8280 GBP

0.25p ordinary

SWAP

Increasing Short

697

8.8401 GBP

0.25p ordinary

CFD

Decreasing Short

330

8.7061 GBP

0.25p ordinary

CFD

Increasing Short

16,253

8.8167 GBP

(c)

Stock-settled derivative transactions (including options)

(i)

Writing, selling, purchasing or varying

Class

Product

Writing,

Number

Exercise

Type

Expiry

Option

of

description

purchasing,

of

price

date

money

relevant

selling,

securities

per unit

paid/

security

varying etc

to which

received

option

per unit

relates

(ii)

Exercising

Class of relevant

Product description

Exercising/ exercised against

Number of

Exercise price per

security

securities

unit

(d)

Other dealings (including subscribing for new securities)

Class of relevant

Nature of Dealings

Details

Price per unit (if

security

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:

16 Apr 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213