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:

29 Jun 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:

773,527

0.86%

1,297,339

1.44%

(2)

Cash-settled derivatives:

and/or controlled:

1,270,404

1.41%

767,678

0.85%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

2,043,931

2.27%

2,065,017

2.30%

(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

206,429

8.5550 GBP

8.3010 GBP

0.25p ordinary

Sale

124,548

8.5500 GBP

8.3845 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

943

8.3866 GBP

0.25p ordinary

SWAP

Increasing Short

1,025

8.3854 GBP

0.25p ordinary

SWAP

Increasing Long

62

8.3850 GBP

0.25p ordinary

SWAP

Increasing Long

495

8.3850 GBP

0.25p ordinary

SWAP

Decreasing Long

387

8.4576 GBP

0.25p ordinary

SWAP

Decreasing Long

33

8.4650 GBP

0.25p ordinary

SWAP

Decreasing Long

11,429

8.4428 GBP

0.25p ordinary

SWAP

Decreasing Long

67

8.4650 GBP

0.25p ordinary

SWAP

Decreasing Long

537

8.4400 GBP

0.25p ordinary

SWAP

Opening Short

3,038

8.3850 GBP

0.25p ordinary

SWAP

Decreasing Short

3,846

8.3850 GBP

0.25p ordinary

SWAP

Decreasing Short

120

8.4699 GBP

0.25p ordinary

SWAP

Decreasing Long

8,457

8.3850 GBP

0.25p ordinary

SWAP

Decreasing Long

8

8.4373 GBP

0.25p ordinary

SWAP

Decreasing Long

22

8.4404 GBP

0.25p ordinary

SWAP

Decreasing Long

1,237

8.4025 GBP

0.25p ordinary

SWAP

Decreasing Long

337

8.3930 GBP

0.25p ordinary

SWAP

Decreasing Long

75

8.4419 GBP

0.25p ordinary

SWAP

Decreasing Long

808

8.4413 GBP

0.25p ordinary

SWAP

Decreasing Long

496

8.4460 GBP

0.25p ordinary

SWAP

Increasing Long

2,301

8.4105 GBP

0.25p ordinary

SWAP

Increasing Long

269

8.4562 GBP

0.25p ordinary

SWAP

Decreasing Long

681

8.3971 GBP

0.25p ordinary

SWAP

Decreasing Long

993

8.3850 GBP

0.25p ordinary

SWAP

Increasing Long

12,925

8.3845 GBP

0.25p ordinary

SWAP

Decreasing Long

8,854

8.4436 GBP

0.25p ordinary

SWAP

Decreasing Long

267

8.4128 GBP

0.25p ordinary

SWAP

Increasing Short

1,348

8.3016 GBP

0.25p ordinary

SWAP

Increasing Short

167

8.3850 GBP

0.25p ordinary

SWAP

Closing Short

70

8.3865 GBP

0.25p ordinary

SWAP

Opening Long

67

8.3850 GBP

0.25p ordinary

SWAP

Decreasing Long

3,754

8.4376 GBP

0.25p ordinary

SWAP

Decreasing Long

1,396

8.4376 GBP

0.25p ordinary

CFD

Increasing Long

208

8.4728 GBP

0.25p ordinary

CFD

Opening Short

5,300

8.4516 GBP

0.25p ordinary

SWAP

Increasing Short

634

8.4650 GBP

0.25p ordinary

SWAP

Decreasing Short

266

8.4888 GBP

0.25p ordinary

SWAP

Closing Long

550

8.4522 GBP

0.25p ordinary

SWAP

Increasing Long

2,000

8.4398 GBP

0.25p ordinary

SWAP

Decreasing Long

371

8.3850 GBP

0.25p ordinary

SWAP

Decreasing Short

458

8.3845 GBP

0.25p ordinary

SWAP

Decreasing Long

62

8.4900 GBP

0.25p ordinary

SWAP

Decreasing Long

30,519

8.4943 GBP

0.25p ordinary

SWAP

Decreasing Short

6

8.4893 GBP

0.25p ordinary

SWAP

Increasing Long

1,366

8.4663 GBP

0.25p ordinary

SWAP

Increasing Long

2,250

8.4026 GBP

0.25p ordinary

SWAP

Increasing Long

1,342

8.4613 GBP

0.25p ordinary

SWAP

Increasing Short

2,695

8.4158 GBP

0.25p ordinary

SWAP

Increasing Short

5,860

8.3850 GBP

0.25p ordinary

CFD

Increasing Short

670

8.4566 GBP

0.25p ordinary

SWAP

Decreasing Short

1,159

8.3844 GBP

0.25p ordinary

SWAP

Closing Short

122

8.3850 GBP

0.25p ordinary

SWAP

Increasing Long

8

8.4900 GBP

0.25p ordinary

SWAP

Decreasing Long

184

8.5550 GBP

0.25p ordinary

SWAP

Increasing Long

3,991

8.3845 GBP

0.25p ordinary

SWAP

Increasing Short

1,348

8.3491 GBP

0.25p ordinary

SWAP

Increasing Short

1,503

8.4493 GBP

0.25p ordinary

CFD

Closing Short

5,970

8.4754 GBP

0.25p ordinary

CFD

Opening Long

3,902

8.4754 GBP

0.25p ordinary

SWAP

Increasing Short

2,543

8.3850 GBP

0.25p ordinary

SWAP

Decreasing Long

4,320

8.4349 GBP

0.25p ordinary

SWAP

Decreasing Long

286

8.4815 GBP

0.25p ordinary

SWAP

Decreasing Long

2,300

8.3850 GBP

0.25p ordinary

SWAP

Decreasing Short

235

8.4650 GBP

0.25p ordinary

CFD

Decreasing Long

2,716

8.3850 GBP

0.25p ordinary

SWAP

Decreasing Short

623

8.4505 GBP

0.25p ordinary

SWAP

Decreasing Long

60

8.3850 GBP

0.25p ordinary

SWAP

Increasing Short

1,862

8.4400 GBP

0.25p ordinary

SWAP

Decreasing Short

35

8.5244 GBP

0.25p ordinary

SWAP

Decreasing Long

6,100

8.3850 GBP

0.25p ordinary

SWAP

Decreasing Short

320

8.4649 GBP

0.25p ordinary

SWAP

Decreasing Long

2,002

8.4650 GBP

0.25p ordinary

SWAP

Decreasing Short

140

8.4649 GBP

0.25p ordinary

SWAP

Increasing Long

483

8.5148 GBP

0.25p ordinary

SWAP

Increasing Long

895

8.5474 GBP

0.25p ordinary

SWAP

Decreasing Long

12,668

8.4636 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:

30 Jun 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213