Form8.5EPT/NonRIGAMMACOMMUNICATIONSPLC

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:

01 Oct 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:

2,109,161

2.37%

138,504

0.16%

(2)

Cash-settled derivatives:

and/or controlled:

134,800

0.15%

2,102,128

2.36%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

2,243,961

2.52%

2,240,632

2.51%

(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

505,996

10.9800  GBP

10.9200  GBP

0.25p ordinary

Sale

240,233

10.9800  GBP

10.9200  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

78

10.9598  GBP

0.25p ordinary

SWAP

Decreasing Long

942

10.9758  GBP

0.25p ordinary

SWAP

Decreasing Long

1,617

10.9598  GBP

0.25p ordinary

SWAP

Decreasing Long

8,163

10.9800  GBP

0.25p ordinary

SWAP

Increasing Short

115,000

10.9648  GBP

0.25p ordinary

SWAP

Decreasing Short

286

10.9616  GBP

0.25p ordinary

SWAP

Decreasing Short

79

10.9579  GBP

0.25p ordinary

SWAP

Decreasing Short

342

10.9729  GBP

0.25p ordinary

SWAP

Decreasing Long

8,363

10.9807  GBP

0.25p ordinary

SWAP

Opening Long

15,044

10.9697  GBP

0.25p ordinary

SWAP

Increasing Short

6,073

10.9694  GBP

0.25p ordinary

SWAP

Decreasing Long

2,917

10.9642  GBP

0.25p ordinary

SWAP

Decreasing Long

1,084

10.9642  GBP

0.25p ordinary

CFD

Closing Long

3,160

10.9714  GBP

0.25p ordinary

CFD

Opening Short

78

10.9714  GBP

0.25p ordinary

CFD

Decreasing Short

11,116

10.9526  GBP

0.25p ordinary

SWAP

Decreasing Short

2,564

10.9662  GBP

0.25p ordinary

SWAP

Decreasing Short

3,000

10.9489  GBP

0.25p ordinary

SWAP

Increasing Long

44

10.9800  GBP

0.25p ordinary

SWAP

Decreasing Short

5,302

10.9608  GBP

0.25p ordinary

SWAP

Decreasing Short

2,583

10.9711  GBP

0.25p ordinary

SWAP

Decreasing Long

1,799

10.9611  GBP

0.25p ordinary

SWAP

Closing Long

15,044

10.9670  GBP

0.25p ordinary

SWAP

Opening Short

8,035

10.9670  GBP

0.25p ordinary

SWAP

Increasing Short

11,277

10.9800  GBP

0.25p ordinary

CFD

Increasing Short

517

10.9606  GBP

0.25p ordinary

SWAP

Decreasing Long

380

10.9498  GBP

0.25p ordinary

SWAP

Increasing Short

342

10.9729  GBP

0.25p ordinary

SWAP

Increasing Short

15

10.9750  GBP

0.25p ordinary

SWAP

Decreasing Long

237

10.9546  GBP

0.25p ordinary

SWAP

Decreasing Short

80

10.9500  GBP

0.25p ordinary

SWAP

Decreasing Short

28,234

10.9629  GBP

0.25p ordinary

SWAP

Closing Long

71

10.9697  GBP

0.25p ordinary

SWAP

Increasing Short

7,332

10.9710  GBP

0.25p ordinary

SWAP

Increasing Long

325

10.9527  GBP

0.25p ordinary

SWAP

Increasing Short

1,418

10.9800  GBP

0.25p ordinary

SWAP

Increasing Long

762

10.9600  GBP

0.25p ordinary

SWAP

Increasing Short

6,538

10.9536  GBP

0.25p ordinary

SWAP

Decreasing Long

3,804

10.9723  GBP

0.25p ordinary

SWAP

Decreasing Short

588

10.9300  GBP

0.25p ordinary

SWAP

Decreasing Long

515

10.9800  GBP

0.25p ordinary

SWAP

Increasing Short

2,001

10.9600  GBP

0.25p ordinary

SWAP

Increasing Long

96

10.9800  GBP

0.25p ordinary

SWAP

Increasing Short

67,266

10.9699  GBP

0.25p ordinary

SWAP

Increasing Long

3,362

10.9383  GBP

0.25p ordinary

SWAP

Closing Long

5,458

10.9629  GBP

0.25p ordinary

SWAP

Opening Short

4,259

10.9629  GBP

0.25p ordinary

SWAP

Increasing Short

3,881

10.9613  GBP

0.25p ordinary

SWAP

Increasing Short

58,181

10.9685  GBP

0.25p ordinary

SWAP

Decreasing Short

5,879

10.9584  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:

02 Oct 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213