Form 8.5 EPT/Non RI GAMMA COMMUNICATIONS PLC

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:

08 Jul 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:

877,390

0.98%

963,917

1.07%

(2)

Cash-settled derivatives:

and/or controlled:

922,573

1.03%

874,410

0.97%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

1,799,963

2.01%

1,838,327

2.05%

(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

187,283

8.8758 GBP

8.0750 GBP

0.25p ordinary

Sale

369,632

8.9050 GBP

8.1225 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

Increasing Long

831

8.8600 GBP

0.25p ordinary

SWAP

Decreasing Short

1,196

8.8595 GBP

0.25p ordinary

SWAP

Increasing Long

1,322

8.1698 GBP

0.25p ordinary

SWAP

Decreasing Long

2,724

8.2800 GBP

0.25p ordinary

SWAP

Increasing Short

39

8.5320 GBP

0.25p ordinary

SWAP

Increasing Short

145

8.3430 GBP

0.25p ordinary

SWAP

Increasing Short

402

8.3375 GBP

0.25p ordinary

SWAP

Increasing Long

13,935

8.3589 GBP

0.25p ordinary

SWAP

Increasing Long

404

8.1436 GBP

0.25p ordinary

SWAP

Decreasing Long

310

8.2656 GBP

0.25p ordinary

SWAP

Closing Short

13,125

8.8600 GBP

0.25p ordinary

SWAP

Opening Long

4,522

8.8600 GBP

0.25p ordinary

SWAP

Increasing Long

22,164

8.8600 GBP

0.25p ordinary

SWAP

Decreasing Long

128

8.3712 GBP

0.25p ordinary

SWAP

Decreasing Long

8,101

8.8683 GBP

0.25p ordinary

SWAP

Decreasing Long

1,733

8.8815 GBP

0.25p ordinary

SWAP

Closing Long

9,372

8.6390 GBP

0.25p ordinary

SWAP

Decreasing Long

3,231

8.2762 GBP

0.25p ordinary

SWAP

Decreasing Long

52

8.8600 GBP

0.25p ordinary

SWAP

Increasing Long

8,061

8.8570 GBP

0.25p ordinary

SWAP

Increasing Long

109

8.8600 GBP

0.25p ordinary

SWAP

Decreasing Long

2

8.1250 GBP

0.25p ordinary

SWAP

Decreasing Long

1

8.1250 GBP

0.25p ordinary

SWAP

Decreasing Short

6,750

8.4000 GBP

0.25p ordinary

SWAP

Decreasing Short

6,103

8.8600 GBP

0.25p ordinary

SWAP

Closing Long

82

8.8600 GBP

0.25p ordinary

SWAP

Opening Short

1

8.8600 GBP

0.25p ordinary

SWAP

Increasing Long

268

8.1564 GBP

0.25p ordinary

SWAP

Increasing Long

99

8.1564 GBP

0.25p ordinary

CFD

Closing Short

1,895

8.2791 GBP

0.25p ordinary

CFD

Decreasing Short

1,721

8.8602 GBP

0.25p ordinary

CFD

Decreasing Long

640

8.3044 GBP

0.25p ordinary

SWAP

Increasing Short

1,625

8.3942 GBP

0.25p ordinary

SWAP

Increasing Short

383

8.1306 GBP

0.25p ordinary

SWAP

Decreasing Short

10,000

8.8551 GBP

0.25p ordinary

SWAP

Increasing Short

146

8.1661 GBP

0.25p ordinary

SWAP

Decreasing Short

16,419

8.8407 GBP

0.25p ordinary

SWAP

Increasing Long

230

8.2908 GBP

0.25p ordinary

SWAP

Closing Long

1,128

8.4224 GBP

0.25p ordinary

SWAP

Decreasing Long

3,129

8.4224 GBP

0.25p ordinary

SWAP

Increasing Long

209

8.1358 GBP

0.25p ordinary

SWAP

Decreasing Long

471

8.8758 GBP

0.25p ordinary

SWAP

Increasing Short

643

8.8604 GBP

0.25p ordinary

SWAP

Decreasing Long

6,104

8.8106 GBP

0.25p ordinary

SWAP

Increasing Long

42,016

8.3976 GBP

0.25p ordinary

SWAP

Decreasing Long

4,151

8.8600 GBP

0.25p ordinary

SWAP

Decreasing Long

60

8.8600 GBP

0.25p ordinary

SWAP

Decreasing Long

3,296

8.5750 GBP

0.25p ordinary

SWAP

Decreasing Long

4,191

8.4167 GBP

0.25p ordinary

SWAP

Decreasing Long

1,898

8.7436 GBP

0.25p ordinary

SWAP

Increasing Long

48

8.8600 GBP

0.25p ordinary

SWAP

Decreasing Short

3,375

8.3483 GBP

0.25p ordinary

SWAP

Increasing Short

54

8.8600 GBP

0.25p ordinary

SWAP

Decreasing Long

529

8.6592 GBP

0.25p ordinary

SWAP

Decreasing Long

196

8.6592 GBP

0.25p ordinary

CFD

Decreasing Short

2,297

8.1571 GBP

0.25p ordinary

CFD

Increasing Long

3,210

8.7508 GBP

0.25p ordinary

SWAP

Decreasing Short

146

8.8600 GBP

0.25p ordinary

SWAP

Increasing Long

2,303

8.5376 GBP

0.25p ordinary

SWAP

Decreasing Long

75

8.5426 GBP

0.25p ordinary

SWAP

Increasing Long

15,509

8.8600 GBP

0.25p ordinary

SWAP

Decreasing Long

438

8.1940 GBP

0.25p ordinary

SWAP

Decreasing Long

5

8.5463 GBP

0.25p ordinary

SWAP

Decreasing Short

3,375

8.3483 GBP

0.25p ordinary

SWAP

Decreasing Short

8,891

8.8600 GBP

0.25p ordinary

SWAP

Decreasing Long

72

8.1151 GBP

0.25p ordinary

SWAP

Increasing Long

1,808

8.3018 GBP

0.25p ordinary

SWAP

Decreasing Short

6,750

8.2758 GBP

0.25p ordinary

SWAP

Increasing Short

2,086

8.1375 GBP

0.25p ordinary

SWAP

Decreasing Long

3,540

8.2430 GBP

0.25p ordinary

SWAP

Increasing Long

348

8.3595 GBP

0.25p ordinary

SWAP

Decreasing Short

3,375

8.3599 GBP

0.25p ordinary

SWAP

Decreasing Short

1,732

8.8675 GBP

0.25p ordinary

SWAP

Decreasing Long

251

8.3256 GBP

0.25p ordinary

SWAP

Increasing Long

716

8.6650 GBP

0.25p ordinary

SWAP

Increasing Short

2,372

8.3157 GBP

0.25p ordinary

SWAP

Increasing Long

2,034

8.8600 GBP

0.25p ordinary

SWAP

Decreasing Short

17,981

8.8448 GBP

0.25p ordinary

SWAP

Decreasing Long

20

8.8600 GBP

0.25p ordinary

SWAP

Increasing Long

6,108

8.3024 GBP

0.25p ordinary

SWAP

Decreasing Long

1,119

8.1384 GBP

0.25p ordinary

SWAP

Decreasing Long

567

8.3170 GBP

0.25p ordinary

SWAP

Increasing Long

212

8.1594 GBP

0.25p ordinary

SWAP

Decreasing Long

40,256

8.4315 GBP

0.25p ordinary

SWAP

Increasing Long

54,827

8.6013 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:

09 Jul 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213