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:

17 Aug 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:

Schroder Real Estate Investment Trust Limited ordinary NPV

Interests

Short Positions

Number

(%)

Number

(%)

(1) Relevant securities owned and/or controlled:

1,677,890

0.34%

1,920,136

0.39%

(2) Cash-settled derivatives:

1,914,917

0.39%

1,657,106

0.34%

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

0

0.00%

0

0.00%

TOTAL: 

3,592,807

0.73%

3,577,242

0.73%

Class of relevant security:

LondonMetric Property plc 10p ordinary

Interests

Short Positions

Number

(%)

Number

(%)

(1) Relevant securities owned and/or controlled:

18,615,312

0.79%

5,897,937

0.25%

(2) Cash-settled derivatives:

6,352,280

0.27%

13,345,682

0.57%

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

0

0.00%

0

0.00%

TOTAL: 

24,967,592

1.06%

19,243,619

0.82%

(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

Schroder Real Estate Investment Trust Limited ordinary NPV

Purchase

139314

0.4577 GBP

0.4520 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

Sale

183900

0.4600 GBP

0.4526 GBP

LondonMetric Property plc 10p ordinary

Purchase

848581

1.9420 GBP

1.9110 GBP

LondonMetric Property plc 10p ordinary

Sale

3382719

1.9410 GBP

1.9100 GBP

(b)

Cash-settled derivative transactions

Class of relevant security

Product description

Nature of dealing

Number of reference securities

Price per unit

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

18

0.4570 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

2,331

0.4519 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

55

0.4570 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Long

13,408

0.4520 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Long

2,000

0.4529 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Long

7,387

0.4571 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Increasing Short

16,000

0.4551 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

5,789

0.4520 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Increasing Short

5,693

0.4520 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Long

1,121

0.4525 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Decreasing Short

46,077

0.4585 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

SWAP

Decreasing Short

15,799

0.4550 GBP

Schroder Real Estate Investment Trust Limited ordinary NPV

CFD

Closing Short

6,895

0.4526 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

13

1.9211 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

653

1.9256 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

80,434

1.9301 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

28,388

1.9257 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

19,332

1.9175 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

122,047

1.9110 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

9,579

1.9325 GBP

LondonMetric Property plc 10p ordinary

SWAP

Closing Short

2,109,175

1.9110 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

4,901

1.9141 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

513

1.9108 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

132,900

1.9280 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

9,849

1.9332 GBP

LondonMetric Property plc 10p ordinary

CFD

Closing Short

2,858

1.9398 GBP

LondonMetric Property plc 10p ordinary

CFD

Opening Long

143

1.9398 GBP

LondonMetric Property plc 10p ordinary

CFD

Increasing Long

326

1.9409 GBP

LondonMetric Property plc 10p ordinary

CFD

Closing Long

3,234

1.9177 GBP

LondonMetric Property plc 10p ordinary

CFD

Decreasing Short

20,055

1.9153 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

4,426

1.9271 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

18

1.9352 GBP

LondonMetric Property plc 10p ordinary

SWAP

Opening Long

40,460

1.9167 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

23

1.9278 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

28

1.9211 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

73

1.9211 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

58

1.9112 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

5,463

1.9113 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

1,831

1.9113 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

700

1.9135 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

100

1.9150 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

137

1.9205 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

225

1.9420 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

64,522

1.9230 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Long

20,512

1.9110 GBP

LondonMetric Property plc 10p ordinary

CFD

Closing Long

143

1.9111 GBP

LondonMetric Property plc 10p ordinary

CFD

Opening Short

2,858

1.9111 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

58

1.9129 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

18,930

1.9134 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

5

1.9116 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

21

1.9116 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

269

1.9159 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

1,071

1.9159 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

8,068

1.9131 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

12,189

1.9151 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

755

1.9110 GBP

LondonMetric Property plc 10p ordinary

SWAP

Closing Long

59,390

1.9110 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

100

1.9110 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

12,359

1.9338 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

24,246

1.9110 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

5,165

1.9226 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

18,870

1.9272 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

252

1.9110 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Long

40,008

1.9306 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

6,583

1.9220 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

24,843

1.9307 GBP

LondonMetric Property plc 10p ordinary

SWAP

Decreasing Short

169,925

1.9286 GBP

LondonMetric Property plc 10p ordinary

SWAP

Increasing Short

1,412

1.9332 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:

18 Aug 2026

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213