Trading update 31 March 2025

STRONG GROWTH IN THE OPERATIONAL RESULTS OF WERELDHAVE BELGIUM DRIVEN BY THE EXTERNAL GROWTH OF THE INVESTMENT PROPERTY PORTFOLIO

• Increase in net rental income by 11.4% to € 17.8M (€ 16.0M at 31 March 2024);
• Increase of the net result from core activities per share of 16.5% to € 1.36 at 31 March 2025 (€ 1.17 at 31 March 2024);
• Increase of the fair value of the investment property portfolio (+10.6% compared to 31 December 2024);
• Increase in net asset value per share of € 83.62 (+2.0% vs. 2024: € 82.02);
• Slight decrease in EPRA occupancy rate of 0.2% to 96.8% for the entire portfolio (97.0% at 31 December 2024) due to a significantly higher number of pop-up        contracts by year-end;
• Healthy debt ratio of 33.7% at 31 March 2025 (28.4% at 31 December 2024);
• Outlook of net result from core activities maintained between € 5.35 - € 5.45 per share.

Attachment

• Trading update 31 March 2025