Earnings release
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PRESS RELEASE embargoed until Thursday 27 August 2026 – 7:00 CET regulated information First half results 2026
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embargoed until Thursday 27 August 2026 – 7:00 CET regulated information 2 First half results 2026 • Operating income at € 17.4 million, up 51.3% • Net profit up sharply to € 12.9 million (+72%) • Increase in VMA’s order book • Positive net cash position: € 21 million • Outlook for 2026: ROE of at least 10% 1. Key figures Year ended June 30 (in million €) 2026 2025 Change Revenue 531.5 545.8 -2.6% EBITDA 30.4 21.7 +40.1% % of revenue 5.7% 4.0% Operating income (EBIT) 17.4 11.5 +51.3% % of revenue 3.3% 2.1% Result for the period - share of the group 12.9 7.5 +72.0% % of revenue 2.4% 1.4% Earnings per share (share of the group) (in euro) 0.52 0.30 +73.3% (in million €) June 2026 December 2025 Change Equity - share of the group 265.0 264.0 +0.4% Net financial debt -21.0 -43.8 -52.1% Order book 1,626.5 1,632.6 -0.4% (*) The definitions are included in the ‘Definitions’ section at the end of the press release. Raymund Trost, CEO of CFE, said : CFE once again delivered a strong performance in the first half of 2026, despite contrasting market dynamics and increasing macroeconomic volatility. Our EBIT margin increased by more than 50% , reflecting our disciplined selectivity in taking on new projects and operational excellence in project delivery. We further strengthened our balance sheet, with our net cash position reaching a record level for a half -year closing, while our order book remains stable. These results confirm the relevance of our multidisciplinary business model and our strategy. The complementary nature of our activities gives us a clear advantage in meeting growing client demand for integrated solutions covering the entire project lifecycle, while enabling us to capture attractive opportunities in our growth markets of energy -efficient buildings, quality housing, smart industry, digitalisation and the infrastructure for the energy transition.
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embargoed until Thursday 27 August 2026 – 7:00 CET regulated information 3 General overview Revenue in the first half of 2026 amounted to € 531.5 million, down by 2.6 % compared with the previous year. The situation varies across the different segments: the entities of the segment Multitechnics and CLE in Luxembourg are reporting strong growth , while revenue at the Belgian and Polish entities in the Construction & Renovation segment is contracting. Operating income for the first half of 2026 amounted to € 17.4 million, up 51.3% compared with the first half of 2025. This strong performance is driven by the contributions from the subsidiaries within Construction & Renovation and VMA. Net income, share of the group, amounted to € 12.9 million. Shareholder’s equity stood at € 265 million at 30 June 2026. It remained stable compared with 31 December 2025. On 21 May 2026, a dividend of € 12.3 million was paid to shareholders, representing € 0.5 gross per share. Net cash position amounted to € 21 million. CFE SA, the group’s parent company, together with its subsidiaries have confirmed bank credit facilities of € 250 million, of which € 3 million was drawn as at 30 June 2026. All the bank covenants have been complied with. The order book remains stable compared with 31 December 2025. It stood at € 1.63 billion as at 30 June 2026. It has grown significantly in Luxembourg and Poland, as well as at VMA. However , it has contracted at Construction & Renovation Belgium and at MOBIX.
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embargoed until Thursday 27 August 2026 – 7:00 CET regulated information 4 2. Outlook 2026 During the first half of the year, CFE once again demonstrated its resilience with solid results and a strong balance sheet. Thanks to the combination and complementarity of its various activities, CFE is meeting growing market demand for solutions covering the entire project life cycle – from development and concept optimisation through to construction, including multitechnical installations and maintenance. The conflict in the Middle East has so far had only a limited impact on CFE’s operations and profitability. Nevertheless, given that the situation has not yet returned to normal, the risk of a further rise in material prices and interest rates cannot be ruled out. CFE anticipates the following developments for its various divisions in 2026: • as usual, BPI Real Estate’s contribution to the Group’s result will depend on market developments and the timing of the completion of ongoing transactions; • driven by strong market momentum, VMA’s revenue and operating income are expected to show a significant increase compared with 2025; • weak business activity will continue to weigh on MOBIX’s results in 2026; • reflecting its consistent policy of selectiv e bidding , revenue in the Construction & Renovation segment is expected to be on a par with that of 2025, while operating income is expected to show an increase. However, the contribution for the second half of the year will be lower than that recorded as at 30 June 2026; • excluding the negative impact of exchange rates during the second half of the year, Deep C Holding’s net profit is expected to at least match that of 2025. In view of the uncertainties set out above, CFE is forecasting a return on equity of at least 10 % for 2026.
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embargoed until Thursday 27 August 2026 – 7:00 CET regulated information 5 3. Segment analysis Real Estate Development KEY FIGURES Year ended June 30 (in million €) 2026 2025 Change Revenue 22.2 51.1 -56.6% Operating income (EBIT) -0.3 4.6 -106.5% Result for the period - share of the group 0.1 4.6 -97.8% (*) The definitions are included in the “Definitions” section at the end of the press release. (in million €) June 2026 December 2025 Change Net financial debt 61.6 54.6 +12.8% CHANGES IN CAPITAL EMPLOYED (*) BREAKDOWN BY STAGE OF PROJECT DEVELOPMENT (in million €) June 2026 December 2025 Unsold units post completion 2 10 Properties under construction 54 57 Properties in development 158 153 Total capital employed 214 220 BREAKDOWN BY COUNTRY (in million €) June 2026 December 2025 Belgium 69 68 Grand Duchy of Luxembourg 98 101 Poland 47 51 Total capital employed 214 220 (*) The definitions are included in the “Definitions” section at the end of the press release. The capital employed amounted to € 214 million as at 30 June 2026, down by 2.7% compared with end December 2025. No major acquisitions or disposals took place during the first half of the year. Sales of apartments that have been completed or are nearing completion have picked up compared with 2025, as demonstrated by the trend in the stock of unsold units post construction, which decreased by 80% during the first half of 2026. The residential market remains challenging for off- plan sales or sales during the initial phase of construction. However, sales momentum improves significantly in the six months leading up to completion.
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embargoed until Thursday 27 August 2026 – 7:00 CET regulated information 6 Furthermore, investor liquidity for large -scale real estate assets, including office buildings, remains an area of attention, as does the future development of long- term interest rates. Belgium BPI Real Estate and its co- development partner are continuing with the major renovation of the EQ office building in the European Quarter (22,00 0 m²), which is fully let on a long- term basis to the European Commission. The building is due to be handed over in 2028. The first two phases of the Brouck’R project, located in the centre of Brussels, are progressing at a steady pace. These involve the construction of two office blocks for the National Lottery (12,000 m²) as well as around 100 residential units, two-thirds of which have already been sold. In Auderghem, the structural work phase of the Uni’Vert residential project is nearing completion. Half of the 75 luxury apartments have been sold. At the Bavière site in Liège, construction of the Province’s future nursing school is progressing according to schedule. Luxembourg In Luxembourg, BPI Real Estate also completed the sale of the remaining residential units in both the final phase of the Domaine des Vignes project in Mertert and the Mimosa residence on Route d’Arlon. On 27 April 2026, the City Council of Luxembourg approved the new Specific Development Plan (PAP) for the Kennedy Park site, marking a new phase for one of the most iconic sites on the Kirchberg plateau. Spanning more than 3 hectares, the former historic headquarters of BGL BNP Paribas is set to undergo a transformation: Kennedy Park will completely change this area into a mixed-use, open and sustainable neighbourhood. Eight new buildings will combine offices, housing ( apartments, co -living and hotels), leisure facilities, shops and services with a 1.6 -hectare park open to the public. The above -ground floor area will be around 75,000 m². Two international tenants have already chosen Kennedy Park as the location for their future headquarters: KPMG Luxembourg and Linklaters. Linklaters will move into its new 5,50 0 m² headquarters in the third quarter of 2028, while KPMG Luxembourg will relocate its 1,800 employees there in the fourth quarter of 2028 in a 31,00 0 m² building. Interest from other parties is also becoming more concrete, driven by both the quality of the project and its location. Exclusive negotiations are currently underway with three prospective buyers for the hotel (5,400 m²), the co-living building (8,300 m²) and the residential building (5,800 m²) respectively.
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embargoed until Thursday 27 August 2026 – 7:00 CET regulated information 7 Poland The sale of the remaining apartments in the blocks due for handover in 2025 was successfully completed in the first half of 2026: there are now just four residential units left to sell out of a total of 917. Earlier this year, BPI Real Estate completed two residential blocks at the Cavallia site in Poznań (158 apartments). The sales rate stands at 94%. In Warsaw, the Piano Forte residential project (100 residential units) is nearing completion: It is due to be handed over in the fourth quarter of 2026. Two new residential projects were launched over the summer: - the second phase of the PanoramiQa project in Poznań (160 apartments); - the third phase of the Cavallia project, also in Poznań (131 apartments). EQUITY AND NET FINANCIAL DEBT BPI Real Estate’s consolidated shareholder’s equity stood at € 152.3 as at 30 June 2026, down by € 13 million compared with 31 December 2025 following the payment of a dividend of € 12 million for the 2025 financial year. BPI Real Estate’s net financial debt was € 61.6 million as at 30 June 2026 (€ 54.6 million as at 31 December 2025). The debt ratio1 stood at 29%. OPERATING INCOME AND NET INCOME In the absence of any major transactions during the first half of 2026, the net profit was at break- even. 1 Net financial debt divided by the sum of equity and net financial debt.
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embargoed until Thursday 27 August 2026 – 7:00 CET regulated information 8 Multitechnics KEY FIGURES Year ended June 30 (in million €) 2026 2025 Change Revenue 166.3 145.7 14.1% Operating income (EBIT) -1.9 1.3 -246.2% Result for the period - share of the group -1.7 0.3 -666.7% (in million €) June 2026 December 2025 Change Net financial surplus 30.0 41.1 -27.0% Order book 333.5 338.1 -1.4% (*) The definitions are included in the “Definitions” section at the end of the press release. REVENUE Year ended June 30 (in million €) 2026 2025 Change VMA 125.7 109.1 +15.2% MOBIX 40.8 36.6 +11.5% Eliminations intra segment -0.2 0.0 n.s. Total Multitechnics 166.3 145.7 +14.1% VMA posted revenue of € 125.7 million during the first half of 2026, up by 15.2%. Business has been particularly brisk in the Electricity and HVAC Business Units in both Flanders and Wallonia. Several major projects are currently underway for data centres and industrial facilities. Maintenance activities are also recording double-digit growth. Market conditions, however , remain challenging in the industrial sector , particularly in the automotive industry in Europe. MOBIX’s revenue stands at € 40.8 million. Although it has increased compared with 2025, it remains at a relatively low level. OPERATING INCOME The operating income of the two divisions shows contrasting results: - VMA has significantly improved its operating income compared with the first half of 2025, driven by strong commercial momentum, the rigorous implementation of operational excellence programmes and effective control of its overheads. - Conversely, MOBIX reported a significant loss as at 30 June 2026, mainly attributable to the LuWa project (DBFM contract), but also to the insufficient profitability of certain projects and high overhead costs relative to the level of activity. Measures have been implemented, including the appointment of a new management team.
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embargoed until Thursday 27 August 2026 – 7:00 CET regulated information 9 ORDER BOOK (in million €) June 2026 December 2025 Change VMA 232.4 223.1 4.2% MOBIX 101.1 115.0 -12.1% Total Multitechnics 333.5 338.1 -1.4% The order book amounted to € 333.5 million, representing a very slight decline compared with 31 December 2025. VMA strengthened its order book in the first half of 2026 thanks to several commercial successes, notably for data centres, a hotel and several office buildings. Among these, VMA, in a joint venture, was awarded the contract for the electrical, HVAC and plumbing works for the Realex property complex, which comprises a conference centre (26,00 0 m²) and office space (18,00 0 m²). This positive trend continued throughout the summer: several major contracts are in the process of being finalised. At MOBIX, the Catenary Business Unit has secured several major orders, but these remain insufficient to offset the decline in the order books of the other business units. NET FINANCIAL SURPLUS The net financial surplus stood at € 30 million as at 30 June 2026, down compared with 31 December 2025 but up significantly compared with 30 June 2025 (+ € 14 million).
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embargoed until Thursday 27 August 2026 – 7:00 CET regulated information 10 Construction & Renovation KEY FIGURES Year ended June 30 (in million €) 2026 2025 Change Revenue 350.3 359.2 -2.5% Operating income (EBIT) 20.2 5.5 267.3% Result for the period - share of the group 16.8 4.6 265.2% (in million €) June 2026 December 2025 Change Net financial surplus 268.9 285.8 -5.9% Order book 1,300.8 1,286.3 +1.1% (*) The definitions are included in the “Definitions” section at the end of the press release. REVENUE Year ended June 30 (in million €) 2026 2025 Change Belgium 247.7 268.7 -7.8% Luxembourg 61.7 36.5 +69.0% Poland 41.2 54.3 -24.1% Eliminations intra segment -0.3 -0.2 n.s. Total Construction & Renovation 350.3 359.2 -2.5% Revenue amounted to € 350.3 million, down slightly compared with the first half of 2025. Revenue rose significantly in Luxembourg, while it contracted in Belgium and Poland. In Brussels, BPC has successfully completed a residential building (student accommodation) on the Erasmus Gardens site, to the client’s satisfaction. Construction of the Newton and Realex office buildings is gathering pace. Major renovation work on the EQ office building is progressing at a steady pace, while work on the future Kanal -Pompidou museum is nearing completion. The fire that broke out on 6 July on the roof of a building adjacent to the museum caused significant damage to the technical installations. Several major projects are currently underway in the Antwerp region, such as the northern section of the Antwerp Ring Road (Oosterweel link), the INEOS One project, the future SD Worx headquarters, and three buildings in the new Nieuw-Zuid district. In the Brussels periphery, Van Laere is completing the construction of a 38,000 m ² office complex (Airport Business Centre). In Wallonia , the 4 -hectare tropical greenhouse (Edenya) at Pairi Daiza Zoo was completed in February 2026 and opened its doors to the public. Six hundred homes on the NATO site in Mons were also handed over. The main construction projects currently underway are a 15,00 0 m²
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embargoed until Thursday 27 August 2026 – 7:00 CET regulated information 11 building on the UCB site in Braine-l’Alleud, a radiopharmaceutical production centre in Gembloux and an office building at the Grand Poste site in Liège. In Luxembourg, CLE’s business has been very buoyant, driven by several major projects, such as the construction of the headquarters of PwC and the Luxembourg Red Cross, as well as several residential buildings on the Rout Lëns site in Esch-sur-Alzette. This trend is set to continue and even gather pace over the coming quarters as construction begins on several buildings that are part of the Kennedy Park project. In Poland, business is slowing due to less favourable market conditions in the logistics and office sectors. Conversely, defence- related projects offer excellent prospects for growth, which CFE intends to capitalise on. An initial project has been delivered to the client’s satisfaction (MBDA). OPERATING INCOME Operating income amounted to € 20.2 million, representing almost a fourfold increase compared with the first half of 2025. The operating margin stands at 5.7 %, an all-time high. All operational entities made a positive contribution to the segment’s results. There are several factors behind this strong performance: the disposal of a production site in Marche -en- Famenne, the favourable settlement of certain significant accounts with subcontractors and the absence of heavily loss-making projects, which demonstrates the validity of the consistent policy of selectivity in accepting orders and the continuous improvement of operational processes. ORDER BOOK (in million €) June 2026 December 2025 Change Belgium 1,035.2 1,072.1 -3.4% Luxembourg 171.8 148.3 15.8% Poland 93.8 65.9 42.3% Total Construction & Renovation 1,300.8 1,286.3 1.1% The order book amounted to € 1.3 billion, a figure that has remained virtually unchanged compared with 31 December 2025. Among the contracts won since the beginning of the year, the most significant are: • the construction of three additional buildings on the Rout L ëns site in Luxembourg (90 apartments with retail and office space on the ground floor, a 110- unit retirement home and student accommodation comprising 133 units); • the redevelopment of two social housing blocks in Antwerp; • the construction of a new phase of housing on the Cavallia site in Poznań; • the conversion of former office premises into 71 apartments and workspaces for Matexi in central Brussels (the IRYS project);
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embargoed until Thursday 27 August 2026 – 7:00 CET regulated information 12 • the renovation and extension of the British School of Brussels in Tervuren; • the construction of a shopping centre in Poland. As at 30 June 2026, several significant orders have yet to be included in the order book, notably those relating to the Kennedy Park and Lake Side projects. NET FINANCIAL SURPLUS Net financial surplus remained high: € 268.9 million as at 30 June 2026, down slightly compared with 31 December 2025 but up compared with 30 June 2025 (+ € 20.4 million).
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embargoed until Thursday 27 August 2026 – 7:00 CET regulated information 13 Investments & Holding Year ended June 30 (in million €) 2026 2025 Change Operating income (EBIT) -0.7 0.1 n.s. Result for the period - share of the group -2.2 -2.0 10.0% (*) The definitions are included in the “Definitions” section at the end of the press release. OPERATING INCOME The segment’s operating profit stood at – € 0.7 million, compared with + € 0.1 million in the first half of 2025. Green-Offshore (a € 1.0 million contribution in CFE's share) Combined green energy production from the Rentel and SeaMade wind farms reached 1.3 TWh (1.1 TWh in the first half of 2025). Deep C Holding (a -€ 1.1 million contribution in CFE's share) Deep C Holding has reported a loss of € 2.2 million (compared with a net profit of € 3 million in the first half of 2025). The loss is attributable to the significant decrease in sales of industrial land, which went from 38.1 hectares in the first half of 2025 to 1.7 hectares. The conflict in the Middle East has had a significant impact in Vietnam in terms of rising prices and the availability of certain materials, leading to additional costs and delays in the delivery of infrastructure works. Interest rates have also risen sharply. However, the disappointing sales figures for the first half of the year should not obscure, on the one hand, the strong performance of the services business, where revenue and operating income are growing steadily; and, on the other hand, the landmark agreement signed in July 2026 with LG -Innotek, which has decided to establish itself in one of Deep C’s industrial zones (Deep C II) to set up a new production site for semiconductor substrates. The amount invested is estimated at over USD 1 billion, just for the first phase. This is the group’s first high-end semiconductor production facility outside South Korea, and it is set to become one of the world’s leading production sites. The production site will cover approximately 33 hectares, of which 24 hectares have already been acquired by end July 2026. Construction work on the factory is expected to begin in the coming weeks. Mass production is expected to begin in the third quarter of 2028. This transaction clearly demonstrates that Deep C has succeeded in establishing itself as the leading industrial zone for international companies wishing to develop or expand their high-tech operations in northern Vietnam.
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embargoed until Thursday 27 August 2026 – 7:00 CET regulated information 14 GreenStor (a -€ 0.5 million contribution in CFE's share) GreenStor, 50% owned by CFE, holds a 38 % stake in BSTOR, a company that co- develops battery parks in Belgium. BSTOR’s portfolio comprises the following assets: • the ESTOR LUX I park, with a capacity of 10 MW, in which the company holds a 75% stake. It has been operational since late 2021 and is located in Bastogne; • the DSTOR park , with a capacity of 50 MW, in which it holds a 50% stake. It has been operational since the second quarter of 2026 and is located in La Louvière; • the ESTOR LUX II park, with a capacity of 100 MW, in which it holds a 75% stake. It will be operational in October 2026 and is located in Aubange; • a pipeline with a capacity of over 1.7 gigawatts, comprising around 10 projects at various stages of development. BSTOR’s shareholdings in DSTOR and ESTOR LUX II are held through a holding company (BSTOR AssetCo), which is itself wholly owned by BSTOR as at 30 June 2026. On 17 July 2026, TINC and INFRAVEST acquired a minority stake in BSTOR AssetCo, valued at € 10 million. At the same time, TINC and INFRAVEST granted BSTOR AssetCo a mezzanine loan of € 12 million, the proceeds of which were used to partially repay BSTOR’s shareholder loan. This transaction, which will have no impact on the profit and loss account2, will result in BSTOR receiving € 22 million, which will be used to develop new battery parks. NET FINANCIAL DEBT Net financial debt amounted to € 216.4 million, a decrease compared with that of 31 December 2025 (€ 228.5 million). 2 BSTOR retains control over BSTOR AssetCo
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embargoed until Thursday 27 August 2026 – 7:00 CET regulated information 15 4. Social responsibility and sustainability commitment The transition towards a more sustainable economy represents both a major challenge and an opportunity for CFE. Through its four business units – Real Estate Development, Multitechnics, Construction & Renovation and Investments – the Group aims to contribute to this transition by developing sustainable solutions while continuously improving the environmental and social performance and governance of its own activities. This ambition is reflected in CFE’s commitment to “Changing for good”, with a focus on generating concrete impact through its people, operations and projects. During the first half of 2026, CFE made further progress across its main sustainability priorities, with particular attention to climate change mitigation and the health and safety of employees and subcontractors. Governance Following the identification of CFE’s key sustainability topics through its double materiality assessment, the Group further strengthened the integration of sustainability considerations into its activities and decision-making processes. Reliable and transparent ESG data remains an important foundation for monitoring performance. Following the digitalisation and dashboarding initiatives implemented in previous years, CFE further improved the quality, traceability and efficiency of its sustainability data and reporting processes. Beyond reporting, CFE continues to develop sustainability knowledge across its businesses. During the first half of 2026, a dedicated EU Taxonomy training programme was launched through CFE Academy, supporting teams in understanding and applying the Europe an sustainability criteria relevant to CFE’s activities. The Group also strengthened its approach to sustainability throughout its value chain. Social commitment The health and safety of employees and subcontractors remain an absolute priority for CFE. Building on the Go for Zero programme and the actions undertaken to strengthen the Group’s safety culture, CFE maintained its efforts during the first half of 2026, recording a frequency rate of 12.72 and a severity rate of 0.52. Despite a slight increase, performance remains in lin e with the Group’s objectives, while reinforcing the importance of constant vigilance and ongoing efforts towards zero accidents.
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embargoed until Thursday 27 August 2026 – 7:00 CET regulated information 16 CFE also pursued its societal engagement through the Heroes for Good Foundation, which supports associations and initiatives contributing to causes of public interest. By the end of June 2026, a total of 35 projects had been supported by CFE. Employees also contributed directly through volunteering and solidarity initiatives. Several initiatives were organised during the first half of the year, with one standing out in particular: the 20 km of Brussels, where colleagues from across the Group jo ined Inclusion ASBL in an inclusive sporting challenge promoting participation and connection. Employee development remains another important priority. Through CFE Academy, the Group continued to develop employees’ skills and strengthen knowledge sharing across its different businesses. Environmental commitment CFE pursues its ambition to reduce the environmental footprint of its own operations while developing solutions that support the transition of its customers and the broader economy. During the first half of 2026, the Group delivered encouraging results in terms of direct greenhouse gas emissions reduction, with CO ₂ emissions decreasing by approximately 3% compared with the same period in 2025. This positive trend confirms the effectiveness of the actions implemented across the Group and reinforces confidence in achieving its longer-term climate ambitions. CFE remains committed to its objective of reducing direct greenhouse gas emissions by 40% by 2030 compared with the 2020 baseline. Progress is driven by initiatives targeting mobility, fleet optimisation and the deployment of lower -carbon solutions on cons truction sites. Measures such as the replacement of fossil fuel generators, the installation of battery systems and the improved insulation of site facilities have already enabled a reduction of more than 46% in direct emissions (excluding fleet emissions) compared with the 2020 baseline. The Group’s Belgian entities are also progressing within the CO₂ Performance Ladder, which provides a structured framework for measuring and reducing greenhouse gas emissions. In 2026, BPC and MBG achieved Step 2 certification under the new version of the CO ₂ Performance Ladder. Sustainable solutions and projects Beyond its own environmental footprint, CFE contributes to the transition through the solutions and expertise developed across its businesses. In Real Estate Development , BPI focuses on the transformation of urban environments, with particular attention to the redevelopment and reconversion of existing sites. Projects such as
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embargoed until Thursday 27 August 2026 – 7:00 CET regulated information 17 EQ, Kennedy Park and Moniuszki Tower illustrate this approach, combining improved energy performance with the creation of resilient and attractive urban spaces. Within Construction & Renovation, several projects illustrate the Group’s ambition to develop and deliver buildings with strong environmental performance while promoting the reuse of existing structures. Projects such as Newton, SD Worx and The Roots exemplify this approach, alongside a growing use of hybrid and timber -based solutions in collaboration with Wood Shapers. In Multitechnics, CFE supports the energy transition through the expertise of VMA. During the first half of 2026, VMA and MBG completed the new LCL Brussels -North data centre, with VMA delivering the full range of technical installations, including advanced Energy Manageme nt and Building Management Systems. These solutions help optimise energy consumption, improve operational efficiency and support the sustainable operation of a critical digital infrastructure. MOBIX plays an active role in the modernisation of transport infrastructure and the transition towards lower-carbon mobility solutions. During the first half of 2026, MOBIX contributed to the major renovation of runway 25L at Brussels Airport, replacing 1, 500 lights and installing 80 km of new electrical cabling in just six weeks. The company also supports the modernisation of Belgium's railway infrastructure through rail renewal and electrification projects, helping to strengthen sustainable transport networks. In parallel, MOBIX tested an electric truck under real site conditions in collaboration with the City of Mechelen, generating valuable insights into the opportunities and challenges associated with the electrification of heavy -duty transport and supporting the gradual decarbonisation of its fleet. Through BSTOR, CFE is accelerating the deployment of large -scale energy storage infrastructure in Belgium. DSTOR in La Louvière has been operational since March 2026, while ESTOR-LUX II in Aubange is progressing towards commissioning. Together, the two projects provide 150 MW and 410 MWh of storage capacity, supporting grid flexibility, security of supply and the further integration of renewable energy.
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embargoed until Thursday 27 August 2026 – 7:00 CET regulated information 18 5. Overview of the financial statements 5.1. Consolidated statement of income and consolidated statement of comprehensive income For the period ended June 30 (in € thousands) 2026 20253 Revenue 531,464 545,773 Other operating income 21,127 19,901 Raw materials, consumables, services and subcontracted work (363,211) (382,006) Personnel expenses (131,256) (126,324) Other operating expenses (27,683) (35,675) Depreciation and amortisation (10,651) (11,481) Income from operating activities 19,790 10,188 Share of profit (loss) of investments accounted for using equity method (2,425) 1,324 Operating income 17,365 11,512 Interest income 6,291 6,206 Interest expenses (4,504) (5,509) Other financial result (1,432) (799) Financial result 355 (102) Result before tax 17,720 11,410 Income tax expenses (4,839) (3,876) Result for the period 12,881 7,534 Non-controlling interests 0 0 Result for the period - share of the group 12,881 7,534 Earnings per share (share of the group) (EUR) (diluted and basic) 0.52 0.30 For the period ended June 30 (in € thousands) 2026 2025 Result for the period - share of the group 12,881 7,534 Result for the period 12,881 7,534 Changes in fair value related to financial derivatives 126 (77) Exchange differences on translation (338) (8,313) Deferred taxes 0 0 Other elements of the comprehensive income to be reclassified to profit or loss in subsequent periods (212) (8,390) Re-measurement on defined benefit and contribution plans 0 0 Deferred taxes 0 0 Other elements of the comprehensive income not to be reclassified to profit or loss in subsequent periods 0 0 Total other elements of the comprehensive income recognized directly in equity (212) (8,390) Comprehensive income : 12,669 (856) - Share of the group 12,669 (856) - Attributable to non-controlling interests 0 0 Comprehensive income (share of the group) per share (EUR) (diluted and basic) 0.51 (0.03) 3 The comparative financial statements have been restated to reclassify certain expenses between the line items "Raw materials, consumables, services and subcontracted work" (increase of € 3.419), "Personnel expenses" (increase of € 2.748), and "Other operating expenses" (decrease of € 6.239). These reclassifications have no impact on operating profit or on the profit for the year.
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embargoed until Thursday 27 August 2026 – 7:00 CET regulated information 19 5.2. Consolidated statement of financial position For the period ended June 30 (in € thousands) June 2026 December 2025 Intangible assets 5,354 5,470 Goodwill 23,918 23,959 Property, plant and equipment 92,311 92,902 Investments accounted for using equity method 163,748 176,902 Other non-current financial assets 128,949 125,567 Non-current financial derivatives 0 59 Other non-current assets 15,097 14,857 Deferred tax assets 7,100 7,743 Non-current assets 436,477 447,459 Inventories 97,429 88,937 Trade and other operating receivables 291,220 272,832 Contract assets 61,606 47,146 Other current non-operating assets 8,823 7,215 Current financial derivatives 93 0 Current financial assets 2,447 4,871 Cash and cash equivalents 133,600 199,324 Current assets 595,218 620,325 Total assets 1,031,695 1,067,784 Share capital 8,136 8,136 Share premium 116,662 116,662 Retained earnings 160,601 160,033 Treasury shares (4,697) (5,376) Defined benefit and contribution pension plans (11,093) (11,093) Reserves related to financial derivatives 4,440 4,314 Exchange differences on translation (9,011) (8,673) Equity – share of the group 265,038 264,003 Non-controlling interests 6 6 Equity 265,044 264,009 Employee benefit obligations 5,410 5,410 Non-current provisions 19,900 20,531 Other non-current liabilities 44,485 29,105 Non-current financial liabilities 94,363 137,055 Non-current financial derivatives 283 511 Deferred tax liabilities 3,290 3,150 Non-current liabilities 167,731 195,762 Current provisions 19,133 21,367 Trade and other operating payables 261,677 260,316 Contract liabilities 235,163 229,686 Current tax liabilities 7,335 4,908 Current financial liabilities 18,256 18,498 Current financial derivatives 52 110 Other current non-operating liabilities 57,304 73,128 Current liabilities 598,920 608,013 Total equity and liabilities 1,031,695 1,067,784
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embargoed until Thursday 27 August 2026 – 7:00 CET regulated information 20 5.3. Consolidated statement of cash flows For the period ended June 30 (in € thousands) 2026 2025 Income from operating activities 19,790 10,188 Depreciation and amortisation of (in)tangible assets and investment property 10,651 11,481 (Decrease)/increase of provisions (4,036) 185 Impairments on assets and other non-cash items (3,170) (594) Loss/(profit) on disposal of tangible and financial fixed assets (3,448) (521) Dividends received from investments accounted for using equity method 15,143 9,022 Cash flows from (used in) operating activities before changes in working capital 34,930 29,761 Decrease/(increase) in trade receivables and other current and non -current receivables (35,554) (40,954) Capital decrease/(increase) of investments accounted for using equity method in the real estate development segment (4,000) 120 Repayment/(New borrowings given) to investments accounted for using equity method in the real estate development segment (3,852) (8,846) Decrease/(increase) in inventories (8,885) 22,748 Increase/(decrease) in trade payables and other current and non -current payables 14,150 17,879 Income tax (paid)/received (4,767) (2,421) Cash flows from (used in) operating activities (7,978) 18,287 Investments (5,584) (7,188) Purchases of intangible assets and of property, plant and equipment (5,193) (3,531) Increase of the investment percentage net of cash acquired/sold 0 0 Capital increase of investments accounted for using equity method 0 (1,610) New borrowings given to investments accounted for using equity method (391) (2,047) Divestments 8,365 1,220 Proceeds from sales of intangible assets and property, plant and equipment 3,736 650 Decrease of the investment percentage net of cash acquired/sold 2,129 0 Capital decrease of investments accounted for using equity method 0 463 Repayment of borrowings given to investments accounted for using equity method 2,500 107 Cash flows from (used in) investing activities 2,781 (5,968) Interest paid (4,504) (5,509) Interest received 6,291 6,206 Other financial expenses and income received/(paid) (1,461) (665) Receipts from new borrowings 0 3,500 Repayment of borrowings (47,971) (37,573) Buy back of own shares 619 (987) Dividends received/(paid) (12,313) (9,921) Cash flows from (used in) financing activities (59,339) (44,949) Net increase/(decrease) in cash position (64,536) (32,630) Cash and cash equivalents, opening balance 199,324 173,510 Effects of exchange rate changes on cash and cash equivalents (1,188) 340 Cash and cash equivalents, closing balance 133,600 141,220 Po
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embargoed until Thursday 27 August 2026 – 7:00 CET regulated information 21 5.4. Key figures per share For the period ended June 30 2026 2025 Number of ordinary shares at balance sheet date 25,314,482 25,314,482 Weighted average number of ordinary shares outstanding during the period 24,630,289 24,732,164 Earnings per share (share of the group) (EUR) (diluted and basic) 0.52 0.30 Equity per share (share of the group) (EUR) 10.76 9.55 5.5. Segment information Consolidated statement of income For the period ended June 30, 2026 (in € thousands) Real estate development Multi- technics Construction & Renovation Investments & Holding Eliminations between segments Consolidated total Revenue 22,152 166,333 350,343 1,466 (8,830) 531,464 EBITDA 2,130 3,270 24,697 327 17 30,441 % Revenue 9.62% 1.97% 7.05% 5.73% Depreciation and amortisation (572) (5,154) (4,521) (404) 0 (10,651) Income from operating activities 1,558 (1,884) 20,176 (77) 17 19,790 Share of profit (loss) of investments accounted for using equity method (1,845) 0 14 (594) 0 (2,425) Operating income (EBIT) (287) (1,884) 20,190 (671) 17 17,365 % Revenue (1.30%) (1.13%) 5.76% 3.27% Financial result 982 (281) 1,193 (1,539) 0 355 Income tax expenses (621) 422 (4,631) (5) (4) (4,839) Result for the period - share of the group 74 (1,743) 16,752 (2,215) 13 12,881 % Revenue 0.33% (1.05%) 4.78% 2.42% For the period ended June 30, 2025 (in € thousands) Real estate development Multi- technics Construction & Renovation Investments & Holding Eliminations between segments Consolidated total Revenue 51,072 145,677 359,220 1,160 (11,356) 545,773 EBITDA 6,507 6,943 10,344 (1,476) (649) 21,669 % Revenue 12.74% 4.77% 2.88% 3.97% Depreciation and amortisation (741) (5,652) (4,810) (278) 0 (11,481) Income from operating activities 5,766 1,291 5,534 (1,754) (649) 10,188 Share of profit (loss) of investments accounted for using equity method (1,145) 21 (9) 2,457 0 1,324 Operating income (EBIT) 4,621 1,312 5,525 703 (649) 11,512 % Revenue 9.05% 0.90% 1.54% 2.11% Financial result 203 (469) 2,335 (2,171) 0 (102) Income tax expenses (220) (565) (3,246) (7) 162 (3,876) Result for the period - share of the group 4,604 278 4,614 (1,475) (487) 7,534 % Revenue 9.01% 0.19% 1.28% 1.38%
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embargoed until Thursday 27 August 2026 – 7:00 CET regulated information 22 Consolidated statement of financial position For the period ended June 30, 2026 (in € thousands) Real estate development Multi- technics Construction & Renovation Investments & Holding Eliminations between segments Consolidated total ASSETS Goodwill 0 23,006 912 0 0 23,918 Property, plant and equipment 4,340 47,221 36,718 4,054 (22) 92,311 Non-current loans to consolidated group companies 0 0 0 40,000 (40,000) 0 Other non-current financial assets 96,383 0 0 32,566 (0) 128,949 Investments accounted for using equity method 88,746 168 117 74,717 (0) 163,748 Other non-current assets 9,611 1,553 15,765 136,314 (135,692) 27,551 Inventories 85,405 6,978 5,846 24 (824) 97,429 Cash and cash equivalents 3,331 4,449 92,203 33,617 0 133,600 Internal cash position - Cash pooling - assets 1,414 56,090 209,617 10,267 (277,388) 0 Other current assets 12,733 133,608 214,392 15,272 (11,816) 364,189 Total assets 301,963 273,073 575,570 346,831 (465,742) 1,031,695 LIABILITIES Equity 152,255 93,491 131,895 23,941 (136,538) 265,044 Non-current borrowings to consolidated group companies 40,000 0 0 0 (40,000) 0 Non-current financial liabilities 21,142 23,459 17,041 32,721 0 94,363 Other non-current liabilities 50,897 1,538 17,841 3,092 0 73,368 Current financial liabilities 5,174 6,693 5,946 443 0 18,256 Internal cash position - Cash pooling - liabilities 0 353 9,915 267,120 (277,388) (0) Other current liabilities 32,495 147,539 392,932 19,514 (11,816) 580,664 Total liabilities 149,708 179,582 443,675 322,890 (329,204) 766,651 Total equity and liabilities 301,963 273,073 575,570 346,831 (465,742) 1,031,695
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embargoed until Thursday 27 August 2026 – 7:00 CET regulated information 23 For the period ended December 31, 2025 (in € thousands) Real estate development Multi-technics Construction & Renovation Investments & Holding Eliminations between segments Consolidated total ASSETS Goodwill 0 23,048 911 0 (0) 23,959 Property, plant and equipment 4,648 47,994 36,011 4,273 (24) 92,902 Non-current loans to consolidated group companies 0 0 0 40,000 (40,000) 0 Other non-current financial assets 93,392 0 0 32,175 0 125,567 Investments accounted for using equity method 98,299 168 243 78,192 (0) 176,902 Other non-current assets 9,932 1,675 15,831 136,380 (135,689) 28,129 Inventories 77,516 6,505 5,717 24 (825) 88,937 Cash and cash equivalents 11,050 5,037 106,805 76,432 (0) 199,324 Internal cash position - Cash pooling - assets 1,520 67,982 215,034 12,916 (297,452) 0 Other current assets 13,814 119,484 190,530 18,330 (10,094) 332,064 Total assets 310,171 271,893 571,082 398,722 (484,084) 1,067,784 LIABILITIES Equity 165,184 100,772 120,936 13,655 (136,538) 264,009 Non-current borrowings to consolidated group companies 40,000 0 0 0 (40,000) 0 Non-current financial liabilities 21,491 25,226 17,435 72,903 (0) 137,055 Other non-current liabilities 34,321 1,549 18,708 4,129 0 58,707 Current financial liabilities 5,652 6,417 5,992 437 0 18,498 Internal cash position - Cash pooling – liabilities 0 295 12,620 284,537 (297,452) (0) Other current liabilities 43,523 137,634 395,391 23,061 (10,094) 589,515 Total liabilities 144,987 171,121 450,146 385,067 (347,546) 803,775 Total equity and liabilities 310,171 271,893 571,082 398,722 (484,084) 1,067,784 Consolidated statement of cash flows For the period ended June 30, 2026 (in € thousands) Real estate development Multi- technics Construction & Renovation Investments & Holding Consolidated total Cash flows from (used in) operating activities before changes in working capital 14,737 3,055 20,368 (3,230) 34,930 Cash flows from (used in) operating activities 4,383 (1,136) (10,187) (1,038) (7,978) Cash flows from (used in) investing activities (53) (2,118) 751 4,201 2,781 Cash flows from (used in) financing activities (11,821) 2,671 (4,213) (45,976) (59,339) Net increase/(decrease) in cash position (7,491) (583) (13,649) (42,813) (64,536) For the period ended June 30, 2025 (in € thousands) Real estate development Multi- technics Construction & Renovation Investments & Holding Consolidated total Cash flows from (used in) operating activities before changes in working capital 12,857 6,496 10,747 (339) 29,761 Cash flows from (used in) operating activities 42,698 169 (3,007) (21,573) 18,287 Cash flows from (used in) investing activities (104) (1,629) (563) (3,672) (5,968) Cash flows from (used in) financing activities (42,381) 2,575 22,298 (27,441) (44,949) Net increase/(decrease) in cash position 213 1,115 18,728 (52,686) (32,630)
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embargoed until Thursday 27 août 2026 – 7h00 CET information réglementée 6. Subsequent events No significant changes have occurred in the financial and commercial situation of the CFE Group since 30 June 2026. 7. Principal risks and uncertainties The main risks associated with CFE’s activities are set out in the 2025 Annual Report (p. 39 and ff.), available at www.cfe.be. These risks have not changed significantly compared with those described in the annual report. 8. Information related to the share On 3 0 June 2026, CFE’s share capital amounted to € 8.135.621, divided into 25.314.482 ordinary shares, without designation of nominal value. The shares of the company are registered or in electronic form. CFE’s equity base as of 30 June 2026 was as follows : registered shares 19,113,784 shares in electronic form 6,200,698 Shareholders owning 5% or more of the voting rights relating to the shares : Ackermans & van Haaren NV Begijnenvest, 113 B-2000 Antwerp (Belgium) 15,830,684 shares, or 62.54% Ackermans & van Haaren acquired 105,000 CFE shares during the first half of 2026. VINCI Construction SAS 1973 Boulevard de la Défense F-92757 Nanterre (France) 3,066,460 shares, or 12.11% CFE holds 628,000 own shares as at 30 June 2026, or 2.48% of the share capital.
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embargoed until Thursday 27 August 2026 – 7:00 CET regulated information 25 9. Shareholders’ agenda Publication of interim statements 2026 25 November 2026 (before opening of the stock market) Publication of annual financial statements 2026 24 February 2027 (before opening of the stock market) Publication of interim statements 2027 19 May 2027 (before opening of the stock market) Publication of half-year financial statements 2027 26 August 2027 (before opening of the stock market) Publication of interim statements 2027 24 November 2027 (before opening of the stock market) * * * About CFE CFE is an integrated multidisciplinary group with an attractive growth market position in Belgium, Luxembourg and Poland. Thanks to leading companies and innovative projects, the Group focuses on four segments: real estate development, multitechnics, construction & renovation and investments. From acquisition to maintenance: with complementary expertise, CFE offers complete solutions to its customers. The Group is developing the world of tomorrow through its pioneering role in sustainable development, its capacity for innovation and its desire to have an impact on society. CFE makes this ambition a reality thanks to passionate employees and strong partnerships. CFE is listed on Euronext Brussels and is 62.54% owned by Ackermans & van Haaren, 12,11% by VINCI. This press release is available on our website at www.cfe.be. * * * Note to editors For further information, please contact : Raymund Trost, CEO, tel. +32.2.661.13.19, raymund_trost@cfe.be Fabien De Jonge, CFO, tel. +32 2 661 13 12, fabien_de_jonge@cfe.be
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embargoed until Thursday 27 August 2026 – 7:00 CET regulated information 26 DEFINITIONS Working capital requirement Inventories + trade and other operating receivables + contracts assets + other current non -operating assets – trade and other operating payables – current tax liabilities – contracts liabilities – other current non-operating liabilities Capital employed Equity of real estate development segment + net financial debt of real estate development segment Net financial debt (NFD) Non-current bonds + non- current financial liabilities + current bonds + current financial liabilities - cash and cash equivalents Net financial surplus Cash and cash equivalents – non-current bonds – non-current financial liabilities – current bonds – current financial liabilities Income from operating activities Revenue + other operating income + purchases + remunerations and social security payments + other operating expenses + depreciation and amortisation Operating Income (EBIT) Income from operating activities + share of profit (loss) of investments accounted for using equity method EBITDA Income from operating activities + depreciation and amortisation Return on equity (ROE) Net income, share of the group / equity, share of the group (opening) Order book Revenue to be generated by the projects for which the contract has been signed and has come into effect (after notice to proceed has been given or conditions precedent have been fulfilled) and for which project financing is in place. Gross development value The estimated market value to a third party purchaser of all projects for which BPI has purchased an asset or has made an irrevocable commitment to purchase an asset. Average interest rate on gross financial debt The contractual interest rate (weighted average) of financial debt in force during the financial year after taking hedging instruments into account. Financial debt includes drawdowns on credit facilities, bank loans and leases.) Gross dividend yield The amount of the dividend proposed to the Annual General Meeting divided by the market capitalisation at the balance sheet date. Unsold units post completion Projects for which construction has been completed during the quarters preceding the balance sheet date. Projects under construction Projects under construction Projects in development Projects secured by BPI Real Estate i) for which permit applications are being prepared or have been filed or ii) for which building permits have been obtained but construction has not yet started. Operating cash flow Cash flows from (used in) operating activities Debt ratio Net financial debt divided by the sum of equity and net financial debt.