Earnings release
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Press Release Regulated information 30 January 2026 (17.40 hrs CET): Interim financial report KBC Ancora SA, Muntstraat 1, 3000 Leuven, Belgium, LPL Leuven 0464.965.639, LEI 549300I4XZ0RR3ZOSZ55 1/8 Regulated information, Leuven, 30 January 2026 (17.40 hrs CET) Interim Financial Report 2025/2026 KBC Ancora recorded a profit of EUR 74.4 million in the first half of the financial year 2025/2026. This compared with a profit of EUR 73.9 million in the same period in the previous financial year. The result for the first six months of the financial year was determined chiefly by dividend income totalling EUR 77.5 million from the participating interest in KBC Group, operating costs of EUR 1.5 million and interest charges amounting to EUR 2.0 million. Abridged financial summaries and notes 1 Results for the first half of financial year 2025/2026 1H FY (x EUR 1,000) 2025/2026 per share (in EUR) 1H FY (x EUR 1,000) 2024/2025 per share (in EUR) Income 77,955 1.01 77,738 1.01 Operating income 0 0.00 0 0.00 Recurring financial income 77,955 1.01 77,738 1.01 Expenses -3,597 -0.05 -3,805 -0.05 Operating costs -1,549 -0.02 -1,536 -0.02 Financial charges -2,048 -0.03 -2,269 -0.03 Result after taxes 74,358 0.97 73,933 0.96 Number of shares in issue* 77,011,844 77,011,844 * No instruments have been issued which could lead to dilution. KBC Ancora recorded a profit of EUR 74.4 million in the first six months of the current financial year, equivalent to EUR 0.97 per share, compared with a profit of EUR 73.9 million in the same period in the previous financial year. Income consisted principally of dividend received on the participating interest in KBC Group (EUR 77.5 million) and interest income (EUR 0.4 million) on time deposit accounts. Expenses principally comprised interest charges on financial debt (EUR 2.0 million) and operating costs (EUR 1.5 million). 1 KBC Ancora's reporting is based on Belgian GAAP. The valuation principles are set out in the filed annual financial statements and in the annual report. See Appendix for the balance sheet and profit and loss account.
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Press Release Regulated information 30 January 2026 (17.40 hrs CET): Interim financial report KBC Ancora SA, Muntstraat 1, 3000 Leuven, Belgium, LPL Leuven 0464.965.639, LEI 549300I4XZ0RR3ZOSZ55 2/8 Balance sheet at 31 December 2025 (x EUR 1,000) 31.12.2025 *30.06.2025 BALANCE SHEET TOTAL 3,705,675 3,629,269 Assets Fixed assets 3,599,979 3,599,979 Current assets 105,696 29,290 Investments 105,300 29,100 Cash at bank and in hand 350 176 Accrued income and deferred expense 46 14 Liabilities Equity 3,603,072 3,528,714 Contribution 3,158,128 3,158,128 Legal reserve 191,030 191,030 Available reserves 179,394 179,394 Profit (loss) carried forward 162 162 Result for the period 74,358 n/a Creditors 102,603 100,555 Amounts falling due after more than one year 100,000 100,000 Amounts falling due within one year 222 215 Accrued income and deferred expense 2,380 339 * The balance sheet at 30 June 2025 is shown after appropriation of the result. The balance sheet total at 31 December 2025 stood at EUR 3.7 billion, an increase of EUR 76.4 million compared with the end of financial year 2024/2025. The number of shares held by KBC Ancora in KBC Group remained unchanged at 77,516,380. The book value of these shares was EUR 46.44 per share (the historical acquisition cost). The price of the KBC Group share stood at EUR 111.25 on 31 December 2025, while the IFRS equity value amounted to EUR 60.8 per KBC Group share on 30 September 2025. Current assets showed a net increase of EUR 76.4 million to EUR 105.7 million. Total equity rose by EUR 74.4 million. This increase was due to the result in the first half of the current financial year (EUR 74.4 million). There was a net increase in debt of EUR 2.0 million due to an increase of EUR 2.0 million in the (pro rata) interest charges in respect of the first half of the financial year.
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Press Release Regulated information 30 January 2026 (17.40 hrs CET): Interim financial report KBC Ancora SA, Muntstraat 1, 3000 Leuven, Belgium, LPL Leuven 0464.965.639, LEI 549300I4XZ0RR3ZOSZ55 3/8 Interim report on the first six months of the current financial year 2025/2026 Notes on the first half of the current financial year 2025/2026 Results for the first six months of the financial year 2025/2026 KBC Ancora recorded a profit of EUR 74.4 million in the first six months of the current financial year, compared with a profit of EUR 73.9 million in the same period in the previous financial year. This result was influenced principally by the following factors: • Dividend income totalling EUR 77.5 million. As in the same period in the previous financial year, this consisted of an interim dividend of EUR 1.00 per KBC Group share. • Interest income totalling EUR 0.4 million on time deposit accounts , EUR 0.2 million more than in the same period in the previous financial year. • Interest charges amounting to EUR 2.0 million, EUR 0.2 million less than in the same period in the previous financial year. • Operating expenses amounting to EUR 1.5 million, in line with the previous financial year. The operating expenses consisted primarily of costs incurred under the cost -sharing agreement with Cera (EUR 1.2 million). There were also the usual expenses, such as listing costs and costs associated with the statutory director. Participating interest in KBC Group, net debt position and net asset value The number of KBC Group shares in portfolio remained unchanged during the past six months at 77,516,380. The net asset value of the KBC Ancora share is defined as 1.0066 times 2 the price of the KBC Group share, less the net debt3 per share. KBC Ancora’s net debt position at 31 December 2025 stood at EUR -0.04 per share. Based on the price of the KBC Group share on 31 December 2025 (EUR 111.25), the net asset value of one KBC Ancora share amounted to EUR 112.02, and the KBC Ancora share (EUR 73.30) was trading at a discount of 34.6% to the net asset value. 2 Number of KBC Group shares held / number of KBC Ancora shares in issue: 1.0066 (= 77,516,380 / 77,011,844). 3 Net debt is defined here as total liabilities less total assets excluding financial fixed assets. A negative amount indicates that the assets exceed the liabilities. (On 31 December 2025 the total book value of the assets in question was EUR 3.1 million higher than the liabilities).
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Press Release Regulated information 30 January 2026 (17.40 hrs CET): Interim financial report KBC Ancora SA, Muntstraat 1, 3000 Leuven, Belgium, LPL Leuven 0464.965.639, LEI 549300I4XZ0RR3ZOSZ55 4/8 The following charts illustrate the movements in the price of the KBC Group and KBC Ancora shares and the discount of the KBC Ancora share to its net asset value. Trend in KBC Group and KBC Ancora share price (January – December 2025) Trend in discount of KBC Ancora share to its net asset value (January – December 2025) Principal risks and uncertainties in the remaining months of the financial year Certain risk factors could have an impact on the value of the assets held by KBC Ancora and on its ability to distribute a dividend. Reference is made in this regard to the description of the risks in the most recent annual report (page 20). KBC Ancora's expenses in the second half of the current financial year (2025/2026) will consist principally of interest charges plus the usual limited operating expenses. KBC Ancora estimates the total expenses in respect of the full financial year 2025/2026 at approximately EUR 7.6 million. KBC Group reported a net result of EUR 2.6 billion for the first nine months of 2025. KBC Group will announce its annual result for the financial year 2025 on 12 February 2026. Partly depending on the decision that KBC Group will take regarding the possible distribution in the first half of 2026 of a final dividend in respect of financial year 2025, the Board of Directors of Almancora Société de gestion, statutory director of KBC Ancora, will take a decision at the end of May 2026 on an interim dividend to be distributed in June 2026 for the 2025/2026 financial year, in accordance with its dividend policy. KBC Ancora's dividend policy sets out the intention to pay out 90% of the recurring result available for distribution in the form of an (interim) dividend (i.e. after adjustment for any exceptional results and after mandatory formation of the legal reserve).
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Press Release Regulated information 30 January 2026 (17.40 hrs CET): Interim financial report KBC Ancora SA, Muntstraat 1, 3000 Leuven, Belgium, LPL Leuven 0464.965.639, LEI 549300I4XZ0RR3ZOSZ55 5/8 Declaration by the responsible individuals “We, the members of the Board of Directors of Almancora Société de gestion, statutory director of KBC Ancora SA, hereby jointly declare that, in so far as we are aware: a) the abridged financial summaries, drawn up in accordance with the applicable standards for financial statements, present a true and fair picture of the capital position, financial position and results of KBC Ancora; b) the interim financial report presents a true and fair view of the key events and principal transactions with affiliated parties during the first six months of the current financial year and of their impact on the abridged financial summaries, as well as a description of the principal risks and uncertainties during the remaining months of the financial year.” Information on the external audit The statutory auditor has reviewed the abridged interim financial information and accompanying notes. The auditor's report is appended to this interim report. --------------------------------- KBC Ancora is a listed company which holds 18.6% of the shares in KBC Group and which together with Cera, MRBB and the Other Permanent Shareholders is responsible for the shareholder stability and further development of the KBC group. As core shareholders of KBC Group, these parties have signed a shareholder agreement to this effect. Financial calendar: 28 August 2026 (17.40 hrs CEST) Annual press release for the financial year 2025/2026 29 September 2026 (17.40 CEST) Annual Report 2025/2026 available 30 October 2026 General Meeting of Shareholders This press release is available in Dutch, French and English on the website www.kbcancora.be. KBC Ancora Investor Relations & Press contact: Jan Bergmans Tel.: +32 (0)16 27 96 72 E-mail: jan.bergmans@kbcancora.be or mailbox@kbcancora.be
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Press Release Regulated information 30 January 2026 (17.40 hrs CET): Interim financial report KBC Ancora SA, Muntstraat 1, 3000 Leuven, Belgium, LPL Leuven 0464.965.639, LEI 549300I4XZ0RR3ZOSZ55 6/8 Appendix: Balance sheet and profit and loss account with comparative figures (x EUR 1,000) 31.12.2025 *30.06.2025 BALANCE SHEET TOTAL 3,705,675 3,629,269 Assets Fixed assets 3,599,979 3,599,979 Financial fixed assets 3,599,979 3,599,979 Companies with which there is a participatory relationship 3,599,979 3,599,979 Participating interests 3,599,979 3,599,979 Current assets 105,696 29,290 Investments 105,300 29,100 Other investments 105,300 29,100 Cash at bank and in hand 350 176 Accrued income and deferred expense 46 14 Liabilities Equity 3,603,072 3,528,714 Contribution 3,158,128 3,158,128 Issued capital 3,158,128 3,158,128 Reserves 370,424 370,424 Unavailable reserves 191,030 191,030 Legal reserve 191,030 191,030 Available reserves 179,394 179,394 Profit/loss carried forward 162 162 Profit/loss for the period 74,358 n/a Creditors 102,603 100,555 Amounts falling due after more than one year 100,000 100,000 Financial liabilities 100,000 100,000 Credit institutions 100,000 100,000 Amounts falling due within one year 222 215 Financial liabilities 0 0 Credit institutions 0 0 Trade creditors 167 196 Suppliers 167 196 Other creditors 55 19 Accrued expense and deferred income 2,380 339 * The balance sheet at 30 June 2025 is shown after appropriation of the result.
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Press Release Regulated information 30 January 2026 (17.40 hrs CET): Interim financial report KBC Ancora SA, Muntstraat 1, 3000 Leuven, Belgium, LPL Leuven 0464.965.639, LEI 549300I4XZ0RR3ZOSZ55 7/8 (x EUR 1,000) 01.07.2025- 31.12.2025 01.07.2024- 31.12.2024 Operating income 0 0 Other operating income 0 0 Operating costs 1,549 1,536 Services and sundry goods 1,549 1,535 Other operating costs 0 0 Operating results -1,549 -1,536 Financial income 77,955 77,738 Recurring financial income 77,955 77,738 Income from financial fixed assets 77,516 77,516 Income from current assets 439 222 Financial charges 2,048 2,269 Recurring financial charges 2,048 2,269 Cost of debt 2,048 2,269 Other financial expenses 0 0 Financial result 75,907 75,469 Profit (loss) before tax 74,358 73,933 Profit (loss) after tax 74,358 73,933
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Press Release Regulated information 30 January 2026 (17.40 hrs CET): Interim financial report KBC Ancora SA, Muntstraat 1, 3000 Leuven, Belgium, LPL Leuven 0464.965.639, LEI 549300I4XZ0RR3ZOSZ55 8/8 Statutory auditor's report to the board of directors of KBC Ancora NV on the review of the condensed interim financial information as at 31 December 2025 and for the 6-month period then ended FREE TRANSLATION OF THE ORIGINAL IN DUTCH Introduction We have reviewed the accompanying interim financial report 2025/2026, containing the condensed balance sheet of KBC Ancora NV as at 31 December 2025, the condensed profit and loss account for the 6-month period then ended, as well as the notes (“the condensed interim financial information”). The board of directors is responsible for the preparation and presentation of this condensed interim financial information in accordance with the financial reporting framework applicable in Belgium for the preparation of condensed interim financial information. Our responsibility is to express a conclusion on this condensed interim financial information based on our review. Scope of Review We conducted our review in accordance with the International Standard on Review Engagements 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity.” A review of condensed interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and, consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Conclusion Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed interim financial information as at 31 December 2025 and for the 6 - month period then ended has not been prepared, in all material respects, in accordance with the financial reporting framework applicable in Belgium for the preparation of condensed interim financial information. Diegem, 30 January 2026 The statutory auditor, PwC Reviseurs d’Entreprises SRL / Bedrijfsrevisoren BV Represented by Damien Walgrave* Bedrijfsrevisor / Réviseur d’Entreprises * Acting in behalf of Damien Walgrave BV/SRL