Vastned · EURONEXT:VASTB
Vastned — Merger or Acquisition (May 2024)
13 slides from Vastned's merger presentation, May 16, 2024
Slide 1: Reverse merger
Reverse merger Vastned Retail and Vastned Belgium 16 May 2024 Ferdinand Bolstraat 120-126, Amsterdam Arme Duivelstraat 6, Antwerpen Vastned Retail Vastned Belgium
Slide 2: Reverse merger of Vastned Retail and Vastned Belgium
Introduction ∕ Portfolio ∕ Vastned post merger ∕ Indicative timetable Reverse merger of Vastned Retail and Vastned Belgium Transaction summary Simplified current structure – Reverse merger in which Vastned Retail (“VNR”) merges into Minority Vastned Listed on Vastned Belgium (“VBE”), effective from
Slide 3: Simplified structure unlocking value for all stakeholders
Introduction ∕ Portfolio ∕ Vastned post merger ∕ Indicative timetable Simplified structure unlocking value for all stakeholders – Organisational simplification with one listed entity, with trading on Euronext Brussels and 1 Simplification Euronext Amsterdam – Simplified governance structure Operatio
Slide 4: Execution of strategic reorientation
Introduction ∕ Portfolio ∕ Vastned post merger ∕ Indicative timetable Execution of strategic reorientation Diversified portfolio Strategic reorientation Disposals Operational excellence Transformative transaction & efficient platform February 2023 July 2023 – December 2024 May 2024 1 January 2025 20
Slide 5: Reverse merger of Vastned Retail and Vastned Belgium
Introduction ∕ Portfolio ∕ Vastned post merger ∕ Indicative timetable Reverse merger of Vastned Retail and Vastned Belgium Merger envisaged to become effective 1 January 2025 1 January 2025 0.839 Vastned Belgium share issued for each outstanding Vastned Retail share, based on adj. rolled-forward EPR
Slide 6: Combined €1.3 billion European retail portfolio
Introduction ∕ Portfolio ∕ Vastned post merger ∕ Indicative timetable Combined €1.3 billion European retail portfolio Current portfolio (pre merger) Future portfolio (post merger) Vastned Retail Vastned Belgium Vastned Spain Spain 6.4% Belgium Netherlands 6.4% Belgium Belgium 37.8% 25.6% 37.8% 25.6%
Slide 7: Portfolio spanning four countries
Introduction ∕ Portfolio ∕ Vastned post merger ∕ Indicative timetable Portfolio spanning four countries Netherlands France Belgium Spain Lille Antwerp 29 19 León 2 Leuven Amsterdam 5 4 Zwolle Paris Ghent 3 13 5 Madrid 3 39 4 Brussels 2 6 Utrecht 2 Liège 2 2 9 17 3 5 7 2 2 5 3 Lyon 3 Nijmegen 3 8 5 1
Slide 8: One listed company with simplified governance
Introduction ∕ Portfolio ∕ Vastned post merger ∕ Indicative timetable One listed company with simplified governance Executive Committee and Board Governance details – From 1 January 2025, Vastned Belgium will be renamed “Vastned” Executive Committee1 – Only one listed entity, trading on Euronext Bru
Slide 9: Increased free float post transaction
Introduction ∕ Portfolio ∕ Vastned post merger ∕ Indicative timetable Increased free float post transaction Current Vastned Retail shareholder base Vastned shareholder base post transaction1 Van Herk Investments ★ Van Herk Investments 9.4% 5.4% 8.4% 4.8% 4.1% J.B. Meulman ★ 3.7% J.B. Meulman 3.4% 3.
Slide 10: Balance sheet well positioned to address refinancing
Introduction ∕ Portfolio ∕ Vastned post merger ∕ Indicative timetable Balance sheet well positioned to address refinancing Post-merger debt maturity profile1,3 (€m) Current fully consolidated EPRA LTV2 375 Target LTV remains at 40% c.40% 50 55 35 30 25 0 Roll-over 2024 2025 2026 2027 2028 2029 Roll-
Slide 11: Timetable
Introduction ∕ Portfolio ∕ Vastned post merger ∕ Indicative timetable Timetable Date Event 16 May 2024 ★ Today Announcement of intention to merge June 2024 Publication of common draft terms of the merger September 2024 Vastned Retail EGM September 2024 Vastned Belgium EGM December 2024 Interim divid
Slide 12: Disclaimer
Disclaimer This presentation is made for the sole benefit of financial analysts and qualified institutional investors and is not to be considered as an incentive to invest or as an offer to acquire or sell Vastned Retail N.V. (“Vastned Retail”) or Vastned Belgium NV (“Vastned Belgium”) shares. This
Slide 13: Investor Relations Contact
Vastned Retail Contact N.V. Relations Investor Vastned Belgium NV Mercuriusplein 11 Generaal Lemanstraat 74 Remco Vergeer 3132 HA Hoofddorp 2600 Antwerpen Vastned +31 20 242 Retail 43 00 N.V. +32 3 361 05 90 remco.vergeer@vastned.com info@vastned.com info@vastned.be +31 20 24 24 368 www.vastned.com