Slides
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INVESTOR PRESENTATION Annual Results 2025 12.02.2026 REGULATED INFORMATION
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TABLE OF CONTENTS 1.0 HIGHLIGHTS 2025 2.0 ACTIVITY REPORT 3.0 KEY FINANCIAL & FUNDING 4.0 CONCLUSION
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STRONG FULL -YEAR 2025 RESULTS CONFIRM NEXTENSA’S STRATEGIC COURSE
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KEY FIGURES 2025 VS 2024 Full-year profitability supported by strategic execution Net Result € 33,2 M vs €-10,8 M Rental Income € 56,7 M vs € 72,18 M Financing Cost 2,90% vs 2,86% Debt Ratio 38,80% vs 45,39% Development Contribution € 16,5 M vs € 14,67 M Net Financial Debt 592 M vs 763 M Dividend € 1 / share
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Stick to NEXTENSA’S STRATEGY with targeted priority actions Strong focus on future-proof ESG projects • (Re)developing climate-adaptive buildings • Creating sustainable societies • Investing in human capital Balancing Nextensa’s Hybrid model • Financial Health • Actif Portfolio Management
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KEY ACTIVITIES 2025 (REDUCING DEBT FROM 45,39% TO 38,26%) TOUR & TAXIS Lake Side Proximus New Headquarter Public Enquiry October Park Lane Delivery Phase II 13 units to sell LUXEMBOURG Cloche d’Or Eosys (12K sqm) 78% Lease PwC Terraces (5K sqm) 100% Lease Lombard Odier Residential (20 available) B&B Hotel (3K sqm) opened Moonar Lease John Deere Montree Obtaining permit and prospect RETAIL DIVESTMENTS Sale Knauf Shopping Centers €165.75 M Pommerloch Schmiede Sale Retail Estates 8.99% Stake Sale Ingeldorf €19.6 M BELGIUM Sale Monteco €28 M Treemont Ongoing permit LOI signed BEL Towers Acquisition with executional permit
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TOWARDS A MORE SUSTAINABLE FUTURE Expansion of the photovoltaic network : 17,947 solar panels Laekenveld Square Moonar – more than just a workplace Sustainable Energy Smart Mobility Vibrant neighbourhoods Moonar - Establishing a genuine ecosystem
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We create places you prefer NEXTENSA “Nextensa is a real estate developer and landlord focused on mixed-use projects, primarily in urban environments. We combine sustainability, innovation, and hospitality to create and manage places where people can live comfortably, work, meet, shop, and enjoy.”
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NEXTENSA (31/12/’25) WE CREATE PLACES YOU PREFER €1.1 B €431.53 M 382.335 SQM DEVELOPMENT IN BELUX €56 .7 M RENTAL INCOME 52% 34% 14% TOTAL VALUE OF INVESTMENT PORTFOLIO BELGIUM LUXEMBURG AUSTRIA 31% 51% 18% MARKET CAPITALISATION RETAIL OFFICES OTHER PROJECT DEVELOPMENT (31/12/’25)
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BUILDING THE FUTURE AND RESHAPING CITIES
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TOUR & TAXIS 5-minutes neighbourhood Excellence in sustainability Mix-city of functions work shop live do relax HERMAN TEIRLINCK BRUSSELS ENVIRONMENT ENTREPOT ROYAL SHEDS GARE MARITIME HOTEL DES DOUANES MAISON DE LA POSTE PARK LANELAKE SIDE
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Retail Occupancy • Proxy Delhaize open since 3 April • New lease signed with Bldr (Boulder Climbing) CHA. 02 – Activity report 93% A diverse offer of services
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1,850 2,250 H1 24 H1 25 CHA. 02 – Activity report Higher Events Rental Income (+6%) +22% 416 388 H1 24 H1 25 1,340 1,176 H1 24 H1 25 -7% -12% A place to discover & connect
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CHA. 02 – Activity report Stable Office Occupancy Occupancy is expected to decrease slightly in 2026 due to Proximus, followed by a strong rebound in 2027 0 88% Syntra Moxy BV Orde landmeters Stable A high-impact workplace
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CHA. 02 – Activity report Completion of Park Lane II & Inauguration of Parkdreef September • 333 of 346 units sold or reserved • Completed in Q4 2025 High-quality housing 96%
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LAKE SIDE, PART OF TOUR & TAXIS Vibrant Urban District 140,000 m² 16 Residential & 2 Office buildings Mix of apartments, offices, retail, hospitality, and public facilities, all set within a green environment Open and connected to the neighbourhood Estimated permit : 01/04/2026 Estimated start of works : 15/04/2026
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NEXTENSA WELCOMES PROXIMUS AT TOUR & TAXIS
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TREEBUNE
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TREEBUNE TREEBUNE
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TOWERSTOWERS
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“PROXIMUS TOWERS” BECOME BEL TOWERS” ICONIC RESET, GREEN MINDSET The BEL towers project (115.000 sqm) is a high-quality mixed (re)development : • 58.000 sqm offices • 2.400 sqm retail • 50.000 sqm residential and student housing • 11.000 sqm public facilities The second mixed-function building within the North quarter BRUSSELS
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BEL TOWERS ICONIC RESET, GREEN MINDSET Sustainability as a standard • Circular construction • Energy-efficient & fossil-free • Water management • Biodiversity & greening • 15-minute city & mobility Delivery date: The permit is in place and discussions with prospective tenants/buyers are underway. BRUSSELS
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CLOCHE D’OR A new urban district in Luxembourg City work shop live do relax CHA. 02 – Activity report
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Pioneer in repurposing CLOCHE D’OR
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CLOCHE D’OR - OFFICES The Stairs Terraces
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CLOCHE D’OR - OFFICES • End of June lease agreement signed with PwC as main tenant (78%). • High quality 13-storey contemporary building with distinctive architecture • Aims for a BREEAM “Outstanding” certification • Delivery Q3 ‘27 EOSYS 12.500 sqm CHA. 02 – Activity report
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CLOCHE D’OR RESIDENTIAL DEVELOPMENTS D-10 D-5 D-Nord • D-Nord: 190/194 units reserved/sold • D-5 & 10: 169/185 units reserved/ sold Delivery Phase 1: Q4 ‘25 • D1 : 162 apartments • B&B Hotels: 4.500 sqm – 150 rooms Delivered mid-july 2025 Opened its doors September 1st, 2025 10 D -5 D - Sud 83% Innovative and Sustainable Living
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RUE MON terey & TREE NEW SUSTAINABLE OFFICE • Wood frame construction • Carbon neutral • Target certification: BREEAM excellent STATUS • Permit obtained • Expected delivery in mid - 2027 MONTREE LUXEMBOURG MONTREE 2.452 sqm
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From TREE to MONT oyer NEW SUSTAINABLE OFFICE • Wood frame construction • Carbon neutral • Target certification: BREEAM excellent STATUS • Juni ‘25 : Renewed Permit Application • Permit expected by Q2 2026 TREEMONT BRUSSELS TREEMONT 2.783 sqm
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KEY P ER FO RMANCE INDI CATO RS CHA. 3 – Key Financials
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KE Y P E R F O RMA NCE I N DI CA TO R S CHA. 03 – Key Financials The NAV per 31 December 2025 amounts to 83,15 EUR/share while the closing rate per end December 2025 amounts to 42,70 EUR/share. This means a discount of 49% compared to the NAV. Share price Nextensa NAV Nextensa (fair value)
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CHA. 03 – KPI’s of our investment portfolio Fair value of portfolio decreased from € 1,30 billion to € 1,09 billion Rental income decreased by € 15,5 M: - + € 1,6 M like for like rental growth - - € 15,9 M due to sale of buildings - Like-for-like rental growth of 3,05% Realized gain on sale Diekirch + € 1,8 M
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CHA. 03 – Other KPI’s Result of development activities (+ € 1,9 M compared to last year) • Tour & Taxis (€ 5,3 M): profit recognized on Parklane Phase II, Phase I and RIVA • Cloche d'Or (€ 11,1 M) main sub projects contributing to the result of 2025: • Ilot D-5 & D-10 – residential 169 apartments reserved or sold out of a total of 185 • Ilot D-Nord – residential 194 apartments of which 190 are already sold. Delivered during Q2 2023 • B&B Hotels – Hotel with 150 rooms, fully let to B&B Hotels for 20 years. Delivered in Q3 2025. • Stairs – Office building of 9.700 m² fully let and sold to State Street Luxembourg. Delivery foreseen in Q2 2026. Financial result (excl fair value changes): Financial income increased by € 3.7 M due to additional working capital provided to Cloche d’Or whereas financial charges decreased by € 9.2 M due to large decrease in net financial debt position. Average funding cost stabilized around 2,90%. Fair value changes in financial assets & liabilities (+€ 8,0 M) -Realised gain on sale Retail Estates (+ € 9,5 M) -Revaluation of the non-effective hedging instruments (- € 1,3 M)
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CHA. 03 – K E Y F I N A N C I A L S FUNDING Net financial position of € 592,8 M at the end of December 2025 compared to € 763,0 M at the end of 2024 Financial debt ratio is 38,80% (45,39% per 31/12/2024) The hedge ratio amounts to 100% The headroom amounts to € 169 Million
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CO NSO LIDATED INCO ME STATEMENT CHA. 03 – K E Y F I N A N C I A L S
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CHA. 03 – K E Y F I N A N C I A L S CO NSO LIDATED BALANCE SH EET
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CHA. 04 – Conclusion Debt ratio reduced to 38,80% (from 45%) and improving financial flexibility Record Luxembourg sale – sale Knauf shopping centres marks largest retail estate transaction in Luxembourg in the past 5 years Sale of Retail Estates € 89.6 M generating a realised profit of €9.5M Cloche d’Or developments advance - with strong pre-letting in offices and residential sales TO SUMMARIZE Solid outlook with secured future growth Strong profit growth despite market challenges: Net profit of € 33,2 M Landmark Proximus headquarters deal – largest Brussels’ office transaction of H1 2025 Tour & Taxis momentum – occupancy up, vibrant event calendar and residential sales at 96% BEL Towers redevelopment – 2nd major mixed-use project in Brussels’ North District Proposed dividend: € 1,00 per share.
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“Behind every number is a dream about what comes NEXT”
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Headquarters Gare Maritime Picardstraat 11 box B505 BE- 1000 Brussels +32 2 882 10 00 info@nextensa.eu investor.relations@nextensa.eu www.nextensa.eu RPR: 0436.323.915 (Brussels) ISIN code BE0003770840 LEI 549300BPHBCHEODTG670 CONTACT INFORMATION Michel Van Geyte CHIEF EXECUTIVE OFFICER INVESTORS RELATIONS CONTACT