First-quarter 2026 financial information

Continued value creation through the three growth engines

• Organic growth in net rental income of 1.2% in first-quarter 2026, outpacing indexation by 80 basis points, in line with targets

• Investment growth: acquisitions strategy confirmed and sale of Villers-Semeuse completed on 31 March 2026 for €12.4 million

• Innovation growth: ongoing roll-out of Retail Media and acceleration in Specialty Leasing (up 5%)

Strong leasing momentum and operational excellence

• Strong leasing activity: 227 leases signed (versus 219 in first-quarter 2025), up 4% in volume and 34% in rental value, with uplift of 2.0%

• Elevated financial occupancy rate of 95.5% (stable versus end-March 2025)

• Collection rate of 96.5% (up 30 basis points versus end-March 2025)

• Retailer sales up 1.1% and footfall up 0.9% versus first-quarter 2025, led by Spain with increases of 7.0% and 2.7%, respectively

Value creation for shareholders

• Share buyback programme: first €10 million tranche finalised; launch of a second €10 million tranche

• 100 million tap issue maturing in 2033, confirmation of the average cost of net debt at 3.0% for 2026

• Cash dividend of €1.36 per share for 2025 (up 9%) proposed to the 2026 Annual General Meeting

• Confirmation of 2026 guidance: recurring earnings per share of €1.84, up 2.0 (excluding acquisitions)