Slides
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Half Y ear 2026 Results 28 August 2026
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2 Hendrik Willem Ackermans Nicolaas van Haaren Moerdijk Bridge, NL AvH’s oldest dredging vessel Our story starts in 187 6, in Kerkdriel, the Netherlands 1888: inf rastructure works in Belgium Fort Belt, Namur region Deepening the Scheldt River, Antwerp Antwerp, bridge - head to the world 1928, registered office in House Rieth, Antwerp Port of Reval (now Tallinn), Russia (now Estonia) Port of Rosario, Argentina
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3 Early diversif ication Post -W orld W ar II 1984: IPO Brickworks plant, Burcht (Belgium) Cement plant, Cernavoda (Romania) Forasol/Foramer, offshore oil infrastructure services Consolidation in the dredging sector 1994: Acquisition of privatized SNI/NIM > Sofinim > Growth Capital Post-war reconstruction of infrastructure 1992: Start partnership Delen family > Private Banking 1997: Start partnership Bracht family > SIPEF
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Ackermans & van Haaren positions itself as the long-term partner of choice of family businesses and management teams to help build high-performing market leaders and contribute to a more sustainable world. ACTIVE OWNERSHIP LONG-TERM PERSPECTIVE SUSTAINABLE GROWTH 4 Mission
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AvH Facts & Figures (1) Based on share price (closing) of € 285.80 on 30 June 2026 (2) Corrected for treasury shares Market cap (1) € 9,476 mio Share price 30 June 2026 € 285.80 Equity 1H2026 € 5,898 mio Growth of equity/share (2) (vs. 31 Dec 2025) (incl. Gross dividend of € 4.60 distributed in June 2026) +6,2% Net cash 30 June 2026 € 524.4 mio Equity per share (2) € 180.58 1H2026 5 Net result 1H2026 € 339.6 mio
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CEO quote The excellent results for the First Half of 2026 add further lustre to AvH's 150th anniversary year. Strong performances across our core businesses and renewed momentum in Growth Capital underline the quality and resilience of our portfolio. Our robust balance sheet allows us to keep investing for long-term growth. Our investment alongside the Grieg family in Grieg Seafood gives AvH exposure to Norway’s leading salmon aquaculture ecosystem and marks an important step in building a broader Food & Agri platform, anchored by our long-standing investment in SIPEF . August 28, 2026 John-Eric Bertrand Co-CEO Piet Dejonghe Co-CEO 6
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ESG highlights First Half 2026 4 ESG key group topics Responsible shareholder (‘G’) : strengthening resilient business models • Portfolio-wide cybersecurity assessment in progress • Innovation check-up is progressing according to plan Climate change (‘E’) : reducing GHG emissions intensity & managing climate-related risks • Engagement on GHG reduction plans largest-emitting portfolio companies and climate-related risks Energy transition (‘E’) : enabling solutions and opportunities in the energy transition • At DEME, Offshore Energy represented 49% of 1H2026 turnover, predominantly focused on renewables • At SIPEF , first renewable bio-CNG was produced, converting methane from palm oil mill effluent into renewable gas Talent management (‘S’) : aligning talent with business priorities and performance • Pilot projects linking talent initiatives to business priorities and financial performance are progressing according to plan AvH’s approach on ESG supports sustainable long-term value creation across its diversified portfolio, embedding it in their strategy, business culture and operations. Focusing on financially material and business-relevant ESG priorities builds resilience through mitigation of risks and unlocking opportunities. 7 Sustainalytics Industry ESG leader: Awarded as of 2026. The ESG Leader Badge recognises companies based on Sustainalytics’ rules-based methodology. Recognition is based on publicly available data at the time of assessment and may not fully capture all aspects of a company’s sustainability strategy or actions. Companies are compared within defined frameworks; recognition should not be interpreted as an absolute measure of sustainability performance or a guarantee of performance or outcomes. Further information concerning the Badge(s) and the underlying products can be found at the Sustainalytics webpage (“ESG solutions”).
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Shareholders’ equity AvH A vH: a shareholder of sustainable companies (1H2026) 32% 33% 18% 7% 10% Growth capital • Integration ESG factors into different business models • Active in various sectors SIPEF • Producer of sustainable RSPO palm oil • RSPO certification Sagar Cements • Focus on energy efficiency, circular and renewable energy Nextensa • Sustainable buildings and urban (re)development Delen Private Bank • Responsible investment policy • Business culture focused on high client satisfaction (NPS) Bank Van Breda • Safe Haven: high solvency, high client satisfaction level, … • Strong business culture (Great Place to Work, …) DEME • Key facilitating role in the Energy Transition • Offshore wind: leading global contractor, with 144 MW in concessions • Sustainable infrastructure and environmental remediation • A strong emphasis on innovation CFE • Sustainable construction with an innovative approach • Buildings designed for energy efficiency • Railway infrastructure DEEP C Holding • ESG considerations integrated into port development • An alternative amid global supply-chain risks 8
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(in € mio) 1H2026 1H2025 1H2026/ 1H2025 2025 2024 2023 Marine Engineering & Contracting 140.2 117.0 241.9 201.8 128.5 Private Banking 148.0 134.3 287.4 258.5 208.7 Real Estate 12.3 13.9 23.5 -6.4 15.6 Energy & Resources 22.3 19.6 41.3 20.6 24.6 Contribution from core segments 322.8 284.7 +13% 594.1 474.5 377.4 Growth Capital 21.4 -1.2 26.3 -8.6 10.9 AvH & Subholdings -7.9 -11.7 -22.0 -9.9 -14.8 Consolidated group result before capital gains 336.2 271.8 +24% 598.3 456.1 373.5 Net capital gains/losses 3.3 1.5 -5.8 3.8 25.7 Consolidated group result 339.6 273.2 +24% 592.5 459.9 399.2 Remeasurement Consolidated group result 459,9 399,2 708,7 Consolidated group result 9
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(in €) 1H2026 1H2025 2025 2024 2023 Number of shares (#) 33,157,750 33,157,750 33,157,750 33,157,750 33,496,904 Net result ¹ 10.39 8.36 18.14 14.07 12.13 Gross dividend 4.6 3.8 3.4 Equity ¹ 180.6 163.9 174,5 161.6 150.2 Stock closing price : highest 298.0 235.6 235.6 193.1 165.2 lowest 232.6 179.4 179.4 153.2 136.8 at end of period 285.8 217.0 232.0 190.5 158.8 10(1) Corrected for own shares Consolidated balance sheet AvH group Key figures per share (in € mio) 1H2026 1H2025 2025 2024 2023 Shareholders’ equity (group share) 5,898.5 5,364.5 5,701.1 5,278.2 4,914.0 Net cash AvH & subholdings 524.4 430.9 428.9 362.4 517.5 Other key f igures
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AvH investments 11 (in € mio) 1H2026 1H2025 2025 2024 2023 Investments 27.2 32.5 87.2 245.9 95.6 - Follow-up investments 27.2 32.5 67.3 100.2 72.3 - New participations 0.0 0.0 19.9 145.7 23.3 Divestments 3.2 1.7 -2.4 -15.6 -67.8 Investments • Increase of participations in listed portfolio companies: • Nextensa (€ 2.2 mio; +0.5%). • SIPEF (€ 10.9 mio; +1.1%). • CFE (€ 1.1 mio; +0.4%). • Follow-up investments in Growth Capital portfolio (€ 11.0 mio), including DISCO Pharmaceuticals, Biotalys and MRM Health
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Ackermans & van Haaren enters the salmon aquaculture industry through c. 93 million euros investment in Grieg Aqua 12 Transaction structure • c. € 93 mio investment in Grieg Aqua, resulting in a 37.5% stake, alongside the Grieg family and Grieg Foundation. • Grieg Aqua owns 50.17% of Oslo-listed salmon producer Grieg Seafood (market cap NOK 3.4 bio). Grieg Seafood • Following the divestment of Finnmark and Canada, Grieg Seafood is focused on Rogaland (Southwest Norway). • Strong regional position and differentiated onshore post-smolt capabilities, improving biological performance and feed conversion. • Rogaland operational EBIT of NOK 433 million in 2025. Following the recent restructuring of the organization, 2026 is expected to be a transition year. Strategic rationale & value creation • Entry into Norway’s world-leading salmon aquaculture ecosystem with attractive long-term fundamentals: structural demand growth, constrained supply and a strong sustainability profile. • Important step in building AvH’s Food & Agri platform, with growth potential through operational development, organic and external expansion.
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V alue creation since IPO: a story of compounding (per share, in €) 13 0 50 100 150 200 250 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 The long-term partner of choice of family businesses and management teams to help build high-performing market leaders and contribute to a more sustainable world (1) Based on share price (closing) of € 285.80 at 30 June 2026 EQUITY PER SHARE AvH SHARE PRICE From € 50 mio market cap at IPO in 1984 to € 9.5bn in 2026 (1) 1984-2025 (CAGR since IPO) + 12.7% Total shareholder return + 12.7% Equity & dividend Last 5 years (CAGR) +15.0% Total shareholder return +12.1% Equity & dividend
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Share price perf ormance in line with growth of equity per share over the last decade 14 84.0 89.7 95.8 104.3 107.5 119.4 140.0 150.2 161.6 174.5 180.6 0 50 100 150 200 250 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1H2026 (1) Based on share price (closing, not rebased) of € 285.80 at 30 June 2026 (2) Corrected for own shares EQUITY PER SHARE ² AvH SHARE PRICE (REBASED 2016) 2016 – 1H2026 (CAGR): +8.4% total shareholder return (1) vs +9.9% equity & dividend
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15 Share perf ormance vs BEL20 31 DEC 2025 € 232.00 26 FEB 2026 € 298.00 30 JUN 2026 € 285.80 ACKB BEL20
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“The board of directors expects the strong earnings momentum of the first half of 2026 to extend into the second half of 2026. Barring unforeseen circumstances, this should result in a growth of net profit of more than 10% for the full year.” Outlook 2026 upgraded “The board of directors is confident in the strategic positioning of AvH’s core participations and the robustness of the portfolio. The strong orderbook at DEME, the record levels of assets under management at the Private Banks and a further growth of SIPEF’s production will support the results also in 2026. Strong balance sheets in the participations and the net cash of 428.9 million euros at the level of AvH position the group for further growth. Despite volatility in the markets and ongoing geopolitical uncertainty, the board of directors expects the net profit of 2026 to be roughly in line with the record result of 2025.” February 27, 2026 16 August 28, 2026
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17 Growth Capital
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Marine Engineering & Contracting 18 DEME Group CFE Deep C Holding Green Offshore 62% 63% 81% 81% DEME > Green Jade at Hai Long offshore wind farm
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(in € mio) 1H2026 1H2025 2025 2024 2023 DEME Group 132.3 109.9 212.6 176.5 98.6 CFE (excl. DEEP C Holding, Green Offshore) 8.1 3.2 15.6 8.4 6.8 DEEP C Holding -1.8 2.5 8.5 10.3 7.1 Green Offshore 1.7 1.5 5.2 6.6 16.0 Total 140.2 117.0 241.9 201.8 128.5 Contribution to AvH consolidated net result MARINE ENGINEERING & CONTRACTING 19 19
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DEME Group One of the largest and most diversified dredging and marine engineering companies in the world. DEME > Norse Wind
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21 (in € mio) 1H2026 1H2025 2025 2024 2023 Turnover 2,157.9 2,117.1 4,154.7 4,101.2 3,285.4 EBITDA 465.9 464.3 930.5 764.2 596.5 EBIT 230.8 223.5 432.8 353.6 241.3 Net result 215.0 179.0 346.3 288.2 162.8 Shareholders’ equity 2,462.8 2,171.8 2,363.8 2,117.8 1,910.5 Net financial position -290.9 -418.5 -391.3 91.1 -512.2 Total assets 6,172.5 5,824.2 6,203.6 5,475.6 4,760.1 Capex 226.8 140.9 445.0(1) 286.4 398.9 # personnel 5,984 5,706 5,333 21 Key f igures DEME (1) Excluding the acquisition of Havfram
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Key balance sheet items DEME 22
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23 Strong first-half performance • Group turnover of 2.2 billion euros, up 2% from 2.1 billion euros a year ago • EBITDA strong at 466 million euros, representing a margin of 21.6% • Net profit up by 20% to 215 million euros, compared to 179 million euros in the prior year period • Order book at 7.1 billion euros providing healthy visibility for future activity • Management now expects 2026 turnover to slightly exceed the 2025 level and EBITDA margin to stay in line with 2025 • Strategic fleet expansion on track: Both new jack-up transport & installation vessels, Norse Wind and Norse Energi, started operations in the first half of 2026, and DEME ordered a new large trailing suction hopper dredger to further strengthen its dredging fleet
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Tu r n o v e r +2% year-over-year DEME 24 24 2025: 1% increase y-o-y
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25 Orderbook continues to provide healthy visibility DEME 25
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26 Complementary segments contribute to a balanced and diversif ied revenue stream DEME 1. The table represents the total turnover per segment. The reconciliation between the segment turnover and the turnover as per f inancial statements refers to the turnover of joint ventures. They are consolidated according to the proportionate method in the segment reporting but according to the equity consolidation met hod in the financial statements 2. EBIT before DEME’s share in the result of joint ventures and associates
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Off shore Energy – Perf ormance dashboard First Half 2026 DEME 27 27
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28 Off shore Energy – Key projects 2026 DEME
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29 Off shore Energy – Key projects 2026 DEME
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30 Off shore Energy – Key projects 2026 DEME
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31 31 Off shore Energy – Global Off shore Market Outlook 2040 DEME Source: TGS Market Overview Report Q4 2025 (incl. China)
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32 Dredging & Inf ra – Perf ormance dashboard First Half 2026 DEME
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33 Dredging & Inf ra DEME Key projects 2026
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34 The island is built to connect Belgium’s second offshore wind zone to the mainland grid and enable potential interconnections with the UK. With the successful installation of the 23rd and final caisson by TM Edison, the consortium including DEME, the foundation works for the Princess Elisabeth Island are now complete. The 23 concrete caissons, each weighing around 22,000 tons, form the protective outer ring of the world's first artificial energy island. The caissons represent one of the most complex phases of this pioneering project.
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35 The third tunnel element for the Fehmarnbelt fixed link has been installed on the seabed off Lolland, as construction of the world’s longest immersed tunnel continues.
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Environmental – Perf ormance dashboard First Half 2026 DEME 36
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37 Environmental – Key projects 2025-2026 DEME
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Concessions – Perf ormance dashboard First Half 2026 DEME 38
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39 Concessions – Active in f our sectors DEME Port-La Nouvelle
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40 40 Outlook DEME
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T rack record (in € mio) DEME 41 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1H2026 TURNOVER EQUITY 45.0% AvH shareholding 39.5% 48.5% 50.0% 60.4% 62.1% 41
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A listed Belgian multi-disciplinary group active in: • Real Estate Development (BPI) • Multitechnics • Construction & Renovation and investing in • Port development (DEEP C 50%) • Offshore wind farms (Green Offshore 50%) CFE > Rout Lens > Esch-sur-Alzette > G.D.Luxembourg CFE
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43 (in € mio) 1H2026 1H2025 2025 2024 2023 Turnover 531.5 545.8 1,041.6 1,182.2 1,248.5 Net result ¹ 12.9 7.5 33.5 24.0 22.8 Shareholders’ equity 265.0 236.2 264.0 247.8 236.8 Net financial position 21.0 -46.5 43.8 -41.7 -93.3 # personnel 2,606 2,775 2,914 43 Key f igures CFE (1) As reported by CFE, i.e. including contribution from DEEP C Holding (€ -1.1 mio in 1H2026, € 5.2 mio 2025, € 6.4 mio 2024, € 4.4 mio 2023) and from Green Offshore (€ 1.0 mio in 1H2026, € 3.2 mio 2025, € 4.1 mio 2024, € 9.9 mio 2023). These contributions are presented separately further in this presentation.
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44 TURNOVER OPERATIONAL RESULT¹ NET RESULT ORDER BOOK (in € mio) 1H2026 1H2025 1H2026 1H2025 1H2026 1H2025 1H2026 1H2025 Real estate development 22.2 51.1 -0.3 4.6 0.1 4.6 214.0 238.0 Multitechnics 166.3 145.7 -1.9 1.3 -1.7 0.3 333.5 361.1 Construction & Renovation 350.3 359.2 20.2 5.5 16.8 4.6 1,300.8 1,334.8 Investments & Holding (incl. eliminations) -7.4 -10.2 -0.7 0.1 -2.2 -2.0 -221.8 -222.0 Total 531.5 545.8 17.4 11.5 12.9 7.5 1,626.5 1,711.9 44 (1) Result from operating activities/EBIT + share of result of equity methods Key f igures CFE
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Highlights First Half 2026 (1/2) CFE 45 • Turnover: relatively stable (-3% y-o-y) • Strong performance of Multitechnics and CLE (Lux) • Revenue decline at Belgian and Polish entities of Construction & Renovation. • Operational result: +51% y-o-y to € 17.4 mio • Orderbook remains stable at € 1.6 bio (+15% y-o-y at VMA in Multitechnics) • Net Financial Position: net cash of € 21.0 mio (€ 43.8 mio at year-end 2025) REAL ESTATE DEVELOPMENT (BPI) • Total portfolio down 3% since year-end 2025 to € 214 mio • Net result: € 0.1 mio • Belgium: on-going works at EQ office building, Brouck’R and Uni-Vert projects, Liège nursing school. • GDLuxembourg: development plan for Kennedy Park approved (a.o. new Luxembourg HQ for KPMG and Linklaters) • Poland: only 4 out of 917 apartments remain for sale at Polish projects – delivery of 100 residential units at Piano Forte (Warsaw) expected for 4Q2026 – 94% of 158 apartments sold or reserved and 2 new projects (300 units) launched in Poznan. MULTITECHNICS(VMA, MOBIX) • Turnover: 14% y-o-y increase (€ 166 mio) • VMA turnover +15% y-o-y , mainly work for data centers and industrial installations, but difficult market conditions in automotive • MOBIX turnover +12% y-o-y, but still relatively low level (€ 41 mio) • Net result: € -1.7 mio as improved result of VMA did not offset loss at MOBIX (LuWA project, low profit margins, overhead costs) • Order book of € 333.5 mio is relatively stable vs. year-end 2025 (increase at VMA, decline at MOBIX)
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46 CONSTRUCTION & RENOVATION (Belgium, Poland, Luxembourg) • Turnover: € 350 mio (-2.5% y-o-y) with strong growth in Luxembourg and decline in Belgium and Poland • Belgium: delivery of projects (e.g. greenhouse at Pairi Daiza, 600 homes at NATO site in Mons) – construction ongoing at several sites (e.g. Newton, Realex and EQ in Brussels, UCB site, Airport Business Center, Kanal-Pompidou museum) – large-scale projects under way in Antwerp region (e.g. Oosterweel, Ineos One, SD Worx HQ) • Luxembourg: very strong activity level driven by major projects (e.g. PwC HQ, Red Cross, residential buildings Rout Lens) –trend will accelerate with the start of the Kennedy Park project • Poland: decline in turnover: less favorable conditions in logistics and office sectors, but good prospects for defence-related projects • Operating result: € 20 mio (almost 4x higher than in 1H25), reflecting 5.7% operating margin (historically high level) • Net result: from € 4.6 mio in 1H2025 to € 16.8 mio in 1H2026 (€ 16.5 mio for FY2025), supported by favorable settlements with subcontractors, absence of highly loss-making projects (selectivity in order intake) • Order book: € 1.3 bio, i.e. stable vs year-end 2025 (orders for Kennedy Park and Lake Side projects not yet included) OUTLOOK • CFE once again demonstrated its resilience by presenting solid results and a strong balance sheet. • While the outlook for Real Estate Development, Multitechnics, Construction & Renovation, and Investments & Holding is affected by different factors, the combination and complementarity of these different activities enables CFE to respond to growing market demand for solutions covering the full lifecycle of a project. • The conflict in the Middle East has so far had only a limited impact on CFE’s activities and profitability. Nevertheless, given that the situation has not yet normalized, CFE does not rule out the risk of further increases in material prices and interest rates. • Taking all factors into account, CFE expects a return on equity of at least 10% for 2026 Highlights First Half (2/2) CFE
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DEEP C Holding Develops port-related industrial zones around the Haiphong Harbour in Vietnam. Total of 5 industrial zones: ~770 ha to be sold (DEEP C share) Deep C – petrochemical zone - Vietnam
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48 (in € mio) 1H2026 1H2025 2025 2024 2023 Turnover 5.9 32.8 60.5 42.2 46.0 Net result -2.3 3.0 10.5 12.7 9.6 Shareholders’ equity 95.6 88.0 94.8 103.0 89.4 Net financial position -53.5 -46.0 -36.2 -53.0 -62.6 48 Key f igures and highlights DEEP C HOLDING • Slow start in 2026 of industrial land sales, but strong pipeline for the second half of 2026 (1H2026: 1.7 hectares, compared to 38.1 ha in 1H2025 and 65 hectares for FY2025) • Service activities continued to perform well: increase in turnover and result • LG Innotek selected one of Deep C’s zones for a major new semiconductor substrate production site in July (c. 24 ha)
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Haiphong - Vietnam DEEP C Zone (IAI %) Total area (ha) Remaining (ha) DC Haiphong 1 (75%) 448 3 DC Haiphong 2 (100%) 496 226 DC Haiphong 3 (75%) 326 314 DC Quang Ninh 1 (50%) 264 253 DC Quang Ninh 2 (50%) 824 645 Total 2,358 1,442 DEEP C Holding shareholding in IAI: 84% 49
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Green Off shore Direct investments in 2 Belgian offshore wind farms in operation. Rentel
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Shareholdings in off shore wind f arms in Belgium GREEN OFFSHORE 51 RENTEL 12.5% 309 MW In operation since 4Q18 SEAMADE 8.75% 487 MW In operation since 4Q20 SeaMade Rentel C-Power Offshore wind capacity 487 MW 309 MW 325 MW Participation: - DEME 13.2% 18.9% 6.3% - Green Offshore 8.75% 12.5% Beneficial AvH 155 MW 51
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(in € mio) 1H2026 1H2025 2025 2024 2023 Production (in GWh) Rentel 461 396 932 1,028 1,108 SeaMade 815 686 1,599 1,760 1,798 Net result 2.0 1.8 6.3 8.0 19.7 Shareholders’ equity 44.9 42.0 47.3 44.5 55.0 Net financial position¹ 5.1 2.2 3.5 2.2 3.1 52 (1) Only Green Offshore + intermediate holdings; Rentel & SeaMade equity accounted for 52 Key f igures and highlights GREEN OFFSHORE • Higher production volumes: 1.3 TWh compared to 1.1 TWh in 1H2025 • Largely stable result with higher production volumes offset by lower prices and other revenues
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Private Banking 53 Delen Private Bank Bank Van Breda 79% 79% Delen Private Bank > new office in Belsele
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Contribution to AvH consolidated net result PRIVATE BANKING (in € mio) 1H2026 1H2025 2025 2024 2023 FinAx 0.4 0.6 0.5 0.5 0.7 Delen Private Bank 109.2 95.1 203.2 179.1 141.3 Bank Van Breda 38.3 38.6 83.8 78.9 66.7 Total 148.0 134.3 287.4 258.5 208.7 54
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FinAx: Private Banking 55 FINAX (1) (1) AvH 78.75%, Family J. Delen 21.25% 55NPS +64 NPS +66
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T otal client assets PRIVATE BANKING 56 Total client assets (in € mio) 1H2026 1H2025 2025 2024 2023 Delen Private Bank (AuM) 84,166 70,137 76,439 66,880 54,759 of which discretionary (%) 91% 88% 90% 91% 90% Delen Private Bank 69,253 57,220 62,833 53,775 42,547 of which Delen Private Bank Netherlands 4,980 3,433 4,660 3,440 1,461 JM Finn 14,913 12,918 13,606 13,105 12,212 Bank Van Breda Off-balance sheet products 24,027 20,258 22,053 19,760 16,363 AuM at Delen 1 -21,323 -17,418 -19,176 -16,885 -13,354 Client deposits 8,175 7,971 8,184 7,972 7,491 Delen + Van Breda combined (100%) 95,046 80,948 87,500 77,727 65,260 Gross inflow AuM 3,953 3,893 7,601 7,595 4,666 (1) Already included in Delen Private Bank AuM 56
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Key f igures DELEN & VAN BREDA COMBINED (100%) (in mio €) 1H2026 1H2025 2025 1H2026 1H2025 2025 1H2026 1H2025 2025 Profitability Operating income (gross) 533 470 980 425 370 779 157 143 292 Net profit 187 170 364 139 121 258 49 49 106 Gross fee and commission income / Gross operating income 80% 78% 79% 94% 93% 93% 49% 49% 50% Gross fee and commission income as % of average AuM 1.04% 1.04% 1.05% 1.04% 1.04% 1.05% 0.65% 0.64% 0.65% Cost-income ratio¹ 49% 49% 49% 48% 50%² 48%² 51% 49% 50% Balance sheet Total equity (incl. minority interests) 2,134 2,040 2,220 1,215 1,182 1,262 907 844 900 Total assets 13,256 12,856 13,394 4,001 3,844 4,067 9,354 9,106 9,378 Customer deposits 8,175 7,971 8,184 - - - 8,175 7,971 8,184 Customer loans 7,109 7,021 7,033 657 620 606 6,452 6,401 6,427 Risk-weighted assets 6,260 6,245 6,231 2,241 2,069 2,189 4,221 4,204 4,235 Cost of risk ³ 0.01% 0.01% 0.03% 0.00% 0.00% - 0.01% 0.01% 0.03% Excess equity 738 721 655 Key ratios Return on equity 16.5% 15.6% 16.7% 21.2% 19.1% 20.8% 10.5% 11.4% 12.3% Common Equity Tier1 ratio 25.4% 24.6% 23.9% 31.6% 34.6% 29.2% 20.9% 19.5% 20.1% Leverage ratio 12.1% 12.0% 11.1% 19.2% 20.2% 17.0% 9.2% 8.8% 8.9% LCR 396% 358% 395% 547% 462% 492% 330% 303% 324% 57 (1) Half-year C/I normalized for the spread of bank levies over the full year. (2) Delen Continental: 41% (1H26), 43% (1H25), 41% (2025), JM Finn: 84% (1H26), 83% (1H25), 84% (2025), (3) Of which ECL (expected credit loss): -0.00% (1H26), -0.01% (1H25), -0.01% (2025), -0.03% (2024) 57 DELEN PRIVATE BANK BANK VAN BREDADELEN & VAN BREDA COMBINED (100%)
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Highlights First Half 2026 PRIVATE BANKING TOTAL CLIENT ASSETS +9% YTD • Approaching € 100 billion • Increase of total client assets to € 95.0 billion (compared to € 87.5 billion at end 2025 and € 77.7 bn end 2024), despite a challenging market context. • Negative market effect in Q1 was reversed in Q2 • Despite persistent geopolitical tensions, trade conflicts and market volatility, both banks achieved positive gross and net inflows (new and existing clients, almost exclusively discretionary mandates), driven by organic growth and further accelerated via acquisitions. • Great synergy between both banks, with 1/3 of AuM at Delen Continental (excl. The Netherlands) from clients of Bank Van Breda. COST-EFFICIENCY & SOLID BALANCE SHEET (30 JUNE 2026) • Gross Operating Income +13% y-o-y to € 533 mio (80% fee-related). • Very solid combined cost-income ratio of 49%, notwithstanding integration of acquisitions and investments in staff, IT, commercial activities. • Combined net profit increased by 10% y-o-y to € 187.4 mio in the first half of 2026 (FY2025: € 364.4 mio). • Shareholders’ equity at a solid level of € 2.13 billion. • Combined CET1 ratio of 25.4%. Leverage ratio of 12.1%. • Combined ROE of 16.5%. 58 CONTINUED GROWTH Belgium • Further expansion of the regional office network of Delen Private Bank, with openings in Belsele and Tournai in the second half of 2026. • Integration of Dierickx Leys Private Bank is successfully completed. • Both banks continue to invest in marketing, IT (incl. AI), workforce expansion and in regulatory standards. The Netherlands • Successful integration of recent acquisitions • Servatus: client onboarding completed 5 quarters ahead of schedule • Petram & Co: over half of clients already onboarded in 1H2026 • Box Consultants: onboarding of vast majority by the end of 3Q2026 • Acquisition of Van Lawick in The Hague (€ 550 mio AuM) • AuM up from € 572 mio end 2015 to € 4,980 mio in 1H2026 (almost 9- fold) and approaching € 6 billion by year-end 2026. LONG-TERM PARTNERSHIP WITH DELEN FAMILY • Started in 1992 with € 500 mio AuM € 84.2 billion at June 30, 2026
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0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000 50,000 55,000 60,000 65,000 70,000 75,000 80,000 85,000 90,000 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1H26T otal assets under management 1 (in € mio) DELEN PRIVATE BANK Oyens & Van Eeghen Custody and advisory AcquisitionsDiscretionary mandates AuM Delen Private Bank CAGR 2016-2025: 8.2% Nobel 54,346 46,408 7,301 6,894 41,116 54,759 5,234 49,525 Groenstate Vermogens- beheer Puur beleggen 48,0107,938 66,880 60,860 (1) including amounts invested by clients of Bank Van Breda at Delen Private Bank 76,439 6,020 69,138 Box Consultants Dierickx Leys Petram & Co Servatus 59 7,567 76,599 84,166
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Annualized net returns DELEN PRIVATE BANK 60 (1) Global Morningstar Peer Group: average of all funds in respective fund categories. Local peers calculated, excluding DPB’s own performance 31/12/2025 1H2026 5 years Annualized Defensive 3.79% 2.38% Peer group Defensive(1) 3.84% 2.10% Balanced 6.95% 4.79% Peer group Balanced(1) 6.75% 4.06% Very Dynamic 10.66% 7.43% Peer group Very Dynamic(1) 9.25% 6.08% Full Equity 13.73% 9.32% Peer group Full Equity(1) 10.82% 7.47% DBI RDT (World equities) 13.69% 9.25% Peer group DBI(1) 9.75% 8.19% • In 1H2026, the weighted average performance of the patrimonial funds of Delen Private Bank reached 9.11%. • The returns on its patrimonial funds in 1H2026 ranged between 3.79% (defensive) and 13.73% (very dynamic), depending on the risk profile. 60
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Invested by clients (in € mio) BANK VAN BREDA 61 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000 20,000 22,000 24,000 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1H26 Client deposits Loan portfolioOff-balance sheet products CAGR 2016-2025 Invested by clients: 9.2% Off-balance sheet products: 11.6% Client deposits: 7.6% Loan portfolio: 4.8% 11,948 21,088 6,368 5,748 14,720 20,648 6,553 6,188 14,095 23,854 7,491 6,248 16,363 61 27,732 7,972 19,760 6,287 30,237 8,184 22,053 6,427 32,202 8,175 24,027 6,452
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O ffi c e s PRIVATE BANKING 62 DELEN PRIVATE BANK Antwerp, Brasschaat, Brussels, Charleroi, Ghent, Hasselt, Knokke, Leuven, Liège, Namur, Roeselare, Waregem, Waterloo, Wavre, Westerlo, Zellik New in 2026: Belsele, Tournai JM FINN London, Bristol, Bury St. Edmunds, Cheltenham, Winchester, York DELEN PRIVATE BANK Amsterdam, Heerenveen, Hengelo, ‘s-Hertogenbosch (2x), Noordwijk, Utrecht, Waalre Scheduled for 2026: Breda, The Hague (Van Lawick & Co) GDLuxembourg: Luxembourg City Switzerland: Geneva, Zurich BANK VAN BREDA Antwerp, Aalst, Braine l’Alleud, Bruges, Brussels (2x), Charleroi, Genk, Ghent, ‘s Gravenwezel, Grimbergen, Hasselt, Herentals, Kapellen, Kontich, Kortrijk, Leuven (Herent), Liège, Lier, Mechelen,Mol, Mons, Namur, Oudenaarde, Roeselare, St-Niklaas, Tournai, Turnhout, Wavre
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T rack record (in € mio) PRIVATE BANKING 63 0 500 1,000 1,500 2,000 2,500 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000 100,000 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1H26 CONSO EQUITY FINAX(1) Total client assets 50%AvH shareholding 60% 75% 78.75% Delen Havaux Capfi JM Finn Oyens & Van Eeghen Bank Van Breda ABK (1) Incl. minorities Groen- state 63 De FermM&A activity Dierickx-Leys Petram, Servatus Nobel Box
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Real Estate 64 Nextensa, Lake Side -Tour & Taxis – Brussels (rendered image) Nextensa 69%
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Contribution to AvH consolidated net result REAL ESTATE (in € mio) 1H2026 1H2025 2025 2024 2023 Nextensa 12.3 13.9 23.5 -6.4 15.6 Total 12.3 13.9 23.5 -6.4 15.6 65
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Nextensa Hybrid model: real estate investor and developer focusing on mixed projects in primarily urban environments. Park Lane > Tour & Taxis > Brussels
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HERMAN TEIRLINCK BRUSSELS ENVIRONMENT ENTREPOT ROYAL SHEDS GARE MARITIME HOTEL DES DOUANES MAISON DE LA POSTE PARK LANE LAKE SIDE To u r & Tax i s (Brussels), the “5-minutes neighbourhood” NEXTENSA 67 Total: 365,567 m2 Offices 177,319 m2 Residential 169,339 m2 Retail 18,909 m2
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68 Total: 588,000 m2 Offices 290,000 m2 Residential 215,000 m2 Retail 83,000 m2
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Key f igures (1/2) NEXTENSA 69 (in € mio) 1H2026 1H2025 2025 2024 2023 Operational result investment portfolio 21.8(1) 23.8(1) 39.4 13.5 49.0 of which rental income 25.8(1) 29.1(1) 56.7 72.2 70.5 Operational result developments 6.5 7.7 16.5 14.7 18.1 Overheads -5.0 -5.3 -12.8 -12.7 -11.9 Operational result 23.3 26.2 43.1 15.5 55.2 Financial result -1.4 1.5 6.3 -27.0 -21.5 Taxes & minorities -5.0 -7.8 -16.2 0.7 -9.2 Net result 16.9 19.9 33.2 -10.8 24.5 69 (1) Impact of divestments; like-for-like rental income: -5,7% (1H26 anticipating Proximus relocation and redevelopments); +5.5% (1H25)
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(in € mio) 1H2026 1H2025 2025 2024 2023 Fair value investment portfolio1 1,062.4 1,106.3 1,093.4 1,215.1 1,298.1 Rental yield (%) 6.0 6.1 6.1 6.0 5.7 Net financial position -550.3 -707.2 -592.8 -763.0 -786.8 Financial debt ratio (%) 37.9 43.4 38.8 45.4 44.8 Shareholders’ equity 853.0 832.1 845.7 812.5 834.0 Per share (€) Net asset value 84.4 81.8 83.2 79.9 83.4 Stock price 45.7 42.9 42.7 42.9 48.9 70 70 Key f igures (2/2) NEXTENSA (1) Including assets held for sale
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Strategic update NEXTENSA • Capital Recycling • During 2025: sale of the Knauf shopping centers (Luxembourg), sale of retail site in Ingeldorf (Luxembourg), sale (together with ION of the Monteco building (Brussels), divestiture of stake in REIT Retail Estates • In 1H2026: sale of Gewerbepark Stadlau in Vienna (Austria) – net amount € 35.5 mio • Divestments helped to reduce net debt position from € 763.0 mio (year-end 2024) to € 550.3 mio. Debt ratio improved from 45.39% to 37.88%. Headroom to reimburse € 100 mio private bond in November 2026 and to finance capex commitments for several ongoing projects • Advancing the Lake Side project at Tour & Taxis (Brussels) • During 2025 : Full-preleasing of office project, thanks to decision of Proximus to relocate its HQ to the site • In 1H2026: Office space is made vacant in anticipation of the first phase of the Proximus relocation (cf. below) • Urban planning and environmental permits obtained • Preparing the Bel Towers project (Brussels) • During 2025: acquisition of the former Proximus headquarters of Proximus, including the permit to transform its iconic towers into a multifunctional urban project (named Bel Towers). At the same time, Proximus concluded a 15 years’ lease agreement for its new HQ at Lake Side/Tour & Taxis (2 buildings still to be developed) and will stepwise relocate as of 2027. • In 1H2026: Vicinity Affordable Housing Fund has reserved 196 residential units (on a total of 439). The pre-construction phase has started 71 Nextensa is strategically optimizing its portfolio and further strengthening its financial position, while preparing the execution of major new projects Bel Towers (rendered image), Brussels Lake Side (rendered image), Brussels
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INVESTMENT PROPERTIES - REAL ESTATE PORTFOLIO • Real estate portfolio of € 1,062 mio on 30 June 2026 (€ 1,093 mio at year-end 2025) • Lower rental income in first half 2026 due to the divestment of buildings. Also lower like-for-like due to the release of office space for Proximus’s temporary location pending completion of its new campus at Tour & Taxis • Operating result of real estate portfolio of € 21.8 mio (€ 23.8 mio in 1H2025) • Treemont : obtained permit + long-term usufruct agreement with EIB Group (after June 30) PROJECT DEVELOPMENT • Operational result from development projects of € 6.5 mio (€ 7.7 mio in 1H2025). • Belgium: contribution (€ 0.3 mio) limited to margin on Phase II at Park Lane (Tour & Taxis) which is almost fully sold (335/346 units sold or reserved) + Proximus HQ and BEL Towers expected to start later in 2026. • Luxembourg: strong contribution (€ 6.3 mio) from office and residential projects at Cloche d’Or • Key events in 2026 (at Cloche d’Or) • Forward-sale of The Rock office building. Sale of B&B Hotels (Cloche d’Or). • Delivery of residential project D5-D10 expected by end-2026 (only 9/185 apartments still for sale) • Sale of the Stairs building (after June 30) AvH PARTICIPATION • Increase of AvH’s participation from 68.81% at year-end 2025 to 69.28%. Highlights First Half 2026 NEXTENSA The Stairs and The Rock at Cloche d’Or, Luxembourg OUTLOOK • 2026 impacted by lower rental income (recent divestments), lower contribution from almost fully finished development project of Park Lane phase II, but construction of new projects (The Rock, Terraces, Eosys) will lead to margin recognition in coming quarters. As of 2027, rental income from temporary campus of Proximus. • Strengthened balance sheet, sufficient financial headroom and a high-quality development pipeline. 72
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Investments – real estate portf olio (30 June 2026) NEXTENSA 73 Investment portfolio of 317,792 m² with a fair value of € 1,062 mio split across: 73 Belgium 55% Austria 14% Luxembourg 31% Retail 32% Other 9% Offices 59%
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T rack record (in € mio) REAL ESTATE 74 0 100 200 300 400 500 600 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1H26 Nextensa equity (AvH share) Senior care equity Equipment & real estate leasing Extensa Leasinvest Duval Anima Residalya (1) (1) Disposal of Residalya (2) Disposal of Anima Nextensa (2) 74
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Energy & Resources 75 SIPEF Verdant Bioscience Sagar Cements 43% 42% 20% SIPEF, Bukit Maradja oil palm plantation, Indonesia
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Contribution to AvH consolidated net result ENERGY & RESOURCES 76 (in € mio) 1H2026 1H2025 2025 2024 2023 SIPEF 22.1 21.8 46.2 24.8 25.1 Verdant Bioscience -1.0 -1.0 -1.6 -1.3 -1.3 Sagar Cements 1.2 -1.3 -3.3 -3.0 0.8 Total 22.3 19.6 41.3 20.6 24.6 76
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SIPEF Devoted to certified sustainable production of tropical agricultural commodities, primarily palm oil. SIPEF, oil palm nursery, Indonesia
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Group production ¹ (in T) 1H2026 1H2025 2025 2024 2023 CPO 222,431 208,060 441,867 362,405 391,215 Bananas 28,429 25,977 52,159 51,038 40,976 Average market price per T (in USD) MDEX Malaysia 1,106 960 990 906 833 Production and market prices SIPEF 78 (1) Own and outgrowers 78 Highlights First Half 2026 Crude Palm Oil production: +7% y-o-y. FY2026 production forecast: +/- 470,000 tonnes. Favorable price environment: 70% of budgeted CPO volumes are sold at $1,007/tonne (1H2025: 73% at $965/tonne). Banana: production volumes grew 9% y-o-y while turnover increased 24% y-o-y FY2026 outlook upgraded: net recurrent result to exceed record of 2025 (subject to external factors), investment program of $ 100-120m to be covered by operational cash flow.
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Key f igures SIPEF 79 (in $ mio) 1H2026 1H2025 2025 2024 2023 Turnover 308.0 250.4 570.4 441.2 (1) 443.9 EBITDA 129.1 110.8 242.0 160.0 160.7 EBIT 94.9 84.6 187.7 104.1 108.0 Net result 60.2 57.7 125.4 65.8 72.7 Shareholders’ equity 1,011.5 933.3 1,001.6 898.4 853.8 Net financial position 124.5 19.9 88.4 -18.1 -31.4 Share price (closing) in € high 102.0 65.6 83.4 58.4 53.3 low 82.0 55.4 55.4 48.5 48.5 Market cap (€ mio) 974.4 672.8 859.0 600.9 560.7 (1) After reclassification of the tea turnover, with an impact of $ 2.6 mio. 79
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Highlights First Half 2026 SIPEF 1H2026 PRODUCTION OF 222,431 TONNES OF SUSTAINABLE PALM OIL (including outgrowers) • Group: 7% increase of the total group production of palm oil, reflecting: mature planted area, improved oil extraction rate, and sustained focus on operational management and mill utilisation. • Indonesia: sustained growth +9% y-o-y, with South Sumatra and Bengkulu as main growth engines • Papua New Guinea: 3% y-o-y growth, reflecting further recovery after volcanic eruption of 2023 and favorable growing conditions at SIPEF estates, but smallholder production impacted by exceptionally wet conditions 1H2026 PRODUCTION OF 28,429 TONNES OF BANANAS • Turnover +24% y-o-y (9% y-o-y volume growth driven by favorable agronomic conditions and improved yields at most estates) 1H2026 MARKETS • Palm oil market: historically high price levels despite uncertain environment. Average of 1,106 USD per tonne on the Malaysian Derivatives Exchange (MDEX) compared to 960 USD in 1H2025. • Banana market: robust demand on European market in Q1 but average banana prices dropped in Q2 (impact geopolitical situation on exports and logistics). 80 STRONG OPERATIONAL MOMENTUM IN 1H2026 • Turnover: $ 308.0 mio ($ 250.4 mio in 1H2025). • Free cash flow of $ 32.3 mio • Positive net cash position of $ 124.5 mio. INVESTMENTS • Capex for investments of $100-120m in 2026. OUTLOOK 2026 • SIPEF anticipates a 2026 recurring result to exceed record result of 2025. • SIPEF expects to achieve 470,000 tonnes of crude palm oil and around 55,000 tonnes of bananas (subject to weather and other external factors) • Monitor weather conditions and impact of El Nino • Sustained investment program of $100-120m, anticipated to be fully funded by operational cash flow. Increase of AvH’s participation from 42.20% at year-end 2025 to 43.32%.
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81 Evolution in own total planted hectares oil palm (100%) SIPEF 81
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82 Evolution in own CPO production SIPEF 82
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Palm oil production versus other liquid oils: more sustainable than any other vegetable oil! 83Source: Davos and Food security: The facts on oilseed efficiency - The Oil Palm
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Sustainable palm oil 84 • Global Palm Oil Market • Less than 3 million tonnes are sold as IP/‘segregated’ (100% traceable) • An estimated 20% of global palm oil is certified by RSPO • SIPEF = 100% compliant and ‘segregated’ A sustainable solution • Halting deforestation; • Treating communities and workers fairly; • Protecting wildlife and the environment; • Traceable CPO (EUDR compliance) 84 SIPEF Roundtable on Sustainable Palm Oil 440,000 T
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V erdant Bioscience Development of oil palm F1 hybrid varieties and other supporting technologies that underpin significant yield increases and productivity enhancements.
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Key f igures and highlights VERDANT BIOSCIENCE 86 (in USD mio) 1H2026 1H2025 2025 2024 2023 Turnover 2.1 1.7 4.6 4.7 5.3 Net result -2.8 -2.5 -4.2 -3.4 -3.3 Shareholders’ equity -3.8 0.7 -1.0 3.2 6.6 Net financial position -35.5 -28.8 -32.1 -26.4 -22.5 • On track to commercialise the first fully tested F1 hybrid palm oil seeds in 2029. 86
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Sagar Cements A listed manufacturer of cement, headquartered in Hyderabad, India, with a capacity of 10.5 million tonnes. Mattampally plant
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88 1H2026 1H2026 1H2025 2025 2024 2023 (€ mio) (INR bn) (INR bn) (INR bn) (INR bn) (INR bn) Turnover 134.1 14.6 12.9 24.7 22.5 24.2 Net result 5.9 0.6 -0.7 -1.7 -1.3 0.5 Shareholders’ equity 153.6 16.7 17.2 16.2 18.7 15.7 Net financial position -159.7 -17.4 -13.9 -16.6 -13.6 -14.0 88 Key f igures and highlights SAGAR CEMENTS • Turnover grew 13% y-o-y in local currency, supported by continued momentum in infrastructure and rural segments. • 10% volume growth reflects improvement of average capacity utilization from 59% in 1H2025 to 65% in 1H2026. • EBITDA margin declined from 12% in 1H2025 to 11% in 1H2026, impacted by higher input costs for energy, fuel and packaging as a result of geopolitical tensions. • Net result: materially supported by a deferred tax activation following the acquisition of Andhra Cements
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Growth Capital 89 OMP 89
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90 (in € mio) 1H2026 1H2025 2025 2024 2023 Growth Capital 21.4 -1.2 26.3 -8.6 10.9 Contribution 21.6 -8.6 20.7 27.1 24.0 Fair value -0.3 7.4 5.6 -35.6 -13.1 AvH & subholdings -7.9 -11.7 -22.0 -9.9 -14.8 Net capital gains / losses 3.3 1.5 -5.8 3.8 25.7 AvH & Growth Capital 16.7 -11.5 -1.5 -14.6 21.7 90 Contribution to AvH consolidated net result AvH & GROWTH CAPITAL
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Highlights First Half 2026 AvH & GROWTH CAPITAL 1H2026 CONTRIBUTION • Contribution from Growth Capital improved significantly to € 21.4 mio (€ -1.2 mio in 1H2025 and € 26.3 mio for FY2025) • Almost entirely driven by contributions from participations (consolidated and equity method) at € 21.6 mio. This is € 30.2 mio higher than in 1H2025 and includes a € 21.3 mio positive foreign exchange effect on V .Group • Fair value adjustments on the ‘Life Sciences’ and ‘India & South-East Asia’ clusters were modest (€ -0.3 mio) 1H2026 INVESTMENTS • Several follow-up investments, amongst others in DISCO Pharmaceuticals and MRM Health, for a total amount of € 11.0 mio 91
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Consolidated book value 30 June 2026 € 534.5 mio € 139.3 mio 92 Growth Capital (30 June 2026) Growth Capital
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Growth Capital – Consolidated participations incl. equity methods (30 June 2026) Biolectric 54%Agidens 83% Camlin Fine Sciences 9% GreenStor 50% OMP 20% Mediahuis 14% Turbo’s Hoet Groep 50% V .Group 33% Van Moer Logistics 32%* * In addition: AvH owns 33.3% of Blue Real Estate VKC Nuts 17% 93
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94 Growth Capital (30 June 2026)
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Growth Capital – Fair value participations (30 June 2026) Biotalys 16%AstriVax Therapeutics 8% Confo Therapeutics 6% Convergent Finance 6% HealthQuad I-II Fund 36%-11% OncoDNA 10%MRM Health 15% VICO Therapeutics 10% Medikabazaar 22%* Venturi Fund I+II 11%-14% * incl. participations via HealthQuad I/II DISCO Pharmaceuticals 11% India & South-East AsiaL i fe Sciences 95
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Connect with John-Eric Bertrand +32 3 897 92 08 je.bertrand@avh.be Connect with Piet Dejonghe +32 3 897 92 36 piet.dejonghe@avh.be Connect with Tom Bamelis +32 3 897 92 35 tom.bamelis@avh.be 96
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Appendix
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Economic f ootprint of the A vH group (1H2026) MARINE ENGINEERING & CONTRACTING REAL ESTATEPRIVATE BANKING ENERGY & RESOURCES AvH & GROWTH CAPITAL (1) Based on consolidated results; pro forma: all (exclusive) control interests fully consolidated, the other interests proportionally. 8,825 1,577 42 10,559 3,928 Pro forma group personnel (1) FY 2025 5,257 1,023 123 264 1,010 Pro forma consolidated turnover (1) FY 2025 1,878 1,806 587 422 1,206 Equity (group share) 1H2026 140.2 148.0 12.3 22.3 16.7 Contribution to AvH result 1H2026 € 339.6 mio€ 5,898.5 mio24,931 € 7,674 mio 98
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Key f igures AvH & GROWTH CAPITAL Turnover EBITDA Net Result Equity Net Financial Position (in € mio) 2025 2024 2025 2024 2025 2024 2025 2024 2025 2024 Agidens 74.4 72.2 8.8 6.4 3.2 1.4 21.2 17.9 -4.4 -2.4 Biolectric 16.9 19.4 0.8 2.2 -0.4 0.8 10.8 11.2 -2.2 -3.1 Camlin (in mio INR)1 17,543 16,540 1,606 -1,829 -291 -2,400 8,602 6,653 -5,517 -6.763 GreenStor - - - - -1.2 0.8 6.4 4.1 -10.5 -6.2 Mediahuis 1,258 1,236 173.1 186.1 156.9 66.1 648.5 535.3 -52,1 -221.8 OMP 247.7 221.1 55.8 57.2 43.3 50.0 219.3 185.8 174.5 145.0 Turbo’s Hoet Groep 665.1 679.7 38.1 42.1 7.7 11.8 171.3 165.8 -159.4 -175.7 Van Moer Logistics 343.6 315.1 38.5 30.7 6.3 1.6 81.8 75.5 -82.0 -74.6 V .Group (in mio USD) 713.1 702.1 72.7² 83.6² -1.4³ 433.0 4 425.34 -253.74 -238.24 99 (1) Pro forma figures over 12 months ending September based on CFS’ published quarterly reports. (2) Incl. non-recurring operational expenses and management fees ($ 10.4 mio 2025; $ 6.0 mio 2024). (3) Adjusted for interest on loan notes and impacted by purchase price allocation. (4) Loan notes reclassified as equity.
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(in € mio) 1H2026 2025 2024 Net interest income 22.2 45.3 50.0 Gross fee income 403.2 721.6 623.0 Other income 4.3 6.4 2.7 Gains and losses on financial assets and liabilities 1.6 0.0 0.8 Gross revenues 431.3 773.4 676.6 Fees paid -52.6 -108.8 -90.9 Operational expenses -177.9 -294.8 -253.9 Amortisations & provisions -12.9 -25.3 -22.8 Profit before tax 187.9 344.5 308.9 Income taxes -48.9 -86.2 -80.7 Profit of the period 139.0 258.6 228.2 Minority interests -0.3 -0.6 -0.8 Share of the group 138.7 258.0 227.5 100 Income statement DELEN PRIVATE BANK
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101 (in € mio) 1H2026 2025 2024 Cash & loan advances to banks 2,294.3 2,442.0 1,940.8 Financial assets - Financial assets at amortised cost 275.5 273.4 241.8 - Financial assets at FV through OCI 29.2 23.7 19.8 - Financial assets at FV through P&L 21.5 22.3 9.2 - Financial assets held for trading 0.0 5.8 3.6 - Loans and receivables 656.6 605.6 569.7 Tangible assets 207.8 208.4 201.4 Goodwill and other intangible assets 368.5 366.6 282.0 Other assets 147.3 119.3 107.8 Total assets 4,000.8 4,067.0 3,376.1 Financial liabilities - Deposits from credit institutions 0.1 0.3 0.6 - Deposits from clients 2,547.8 2,573.4 1,911.4 - Other 0.0 6.0 4.8 Provisions, tax and other liabilities 238.2 225.6 236.4 Equity (incl. minority interest) 1,214.6 1,261.8 1,223.0 Total liabilities 4,000.8 4,067.0 3,376.1 101 Balance sheet DELEN PRIVATE BANK
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102 (in € mio) 1H2026 2025 2024 Net interest income 78.9 146.2 148.3 Net fee income 76.7 144.0 125.4 Other income 1.0 1.7 -0.6 Gross revenues 156.6 291.9 273.1 Operational expenses -81.0 -142.5 -124.5 Amortisations & provisions -5.0 -4.5 -6.0 Loan loss provision -0.4 -1.9 -2.6 Expenses -86.5 -148.9 -133.1 Profit before tax 70.1 143.0 140.0 Income taxes -21.5 -36.5 -39.8 Profit of the period 48.6 106.4 100.2 102 Income statement BANK VAN BREDA
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103 (in € mio) 1H2026 2025 2024 Cash & loan advances to banks 2,077.7 2,159.3 2,047.0 Financial assets - Investments 545.7 531.8 521.8 - Loans and receivables 6,617.1 6,581.7 6,375.9 - Derivatives used for hedging 4.5 6.3 16.2 Tangible assets 69.0 64.7 55.8 Goodwill and other intangible assets 0.1 0.2 0.3 Other assets 40.1 33.8 31.3 Total assets 9,354.2 9,377.7 9,048.4 Financial liabilities - Deposits from credit institutions 0.2 0.4 0.3 - Deposits from clients 8,175.1 8,184.1 7,972.1 - Debt certificates 127.8 166.1 128.1 - Subordinated liabilities 0.0 0.0 0.0 - Other 76.6 57.7 58.4 Provisions, tax and other liabilities 67.2 69.5 58.0 Equity (incl. minority interest) 907.3 900.0 831.4 Total liabilities 9,354.2 9,377.7 9,048.4 103 Balance sheet BANK VAN BREDA