Ackermans & van Haaren : Interim statement 1Q2026 Presentation

About this update from Ackermans & Van Haaren Nv

FY2025 Q1 2026 May 21, 2026 Out stoty statts in 1876, in Ketkdtiel, the Nethetlands 1888: inftasttuCtute wotks in Belgium Antwetp, btidge-head to the wotld Nicolaas van Haaren Moerdijk Bridge, NL Fort Belt, Namur region 1928, registered office in House Rieth, Antwerp Port of Rosario, Argentina Hendrik Willem Ackermans AvH's oldest dredging vessel Deepening the Scheldt River, Antwerp Port of Reval (now Reval), Russia (now Estonia) 3 Forasol/Foramer, offshore oil infrastructure services Consolidation in the dredging sector 1994 - Acquisition of privatized SNI/NIM > Sofinim > Growth Capital Cement plant, Cernavoda (Romania) Brickworks plant, Burcht (Belgium) Post-war reconstruction of infrastructure 1992 : Start partnership Delen family > Private Banking 1997 : Start partnership Bracht family > SIPEF Eatly diVetsifiCation Post-Wotld Wat II 1984: IPO Mission Inspired by 150 years of entrepreneurship and strong people-oriented family values Ackermans & van Haaren positions itself as the long-term partner of choice of family businesses and management teams to help build high-performing market leaders and contribute to a more sustainable world. ACTIVE OWNERSHIP LONG-TERM PERSPECTIVE SUSTAINABLE GROWTH AVH FaCts G Figutes Market cap (1) € 7,693 mio Share price 31 Dec. 2025 € 232.0 Net result 2025 € 592.5 mio Market cap (3) € 8,707 mio Share price 31 March 2026 € 262.6 FY2025 Q1 ∙ 2026 Equity 2025 € 5,701 mio Equity per share (2) € 174.45 Increase of equity/share (2) (vs. 31 Dec 2024) (incl. Gross dividend of € 3.80 distributed in June 2025) +10.3% Net cash 31 Dec. 2025 € 428.9 mio Investments Q1-2026 € 9.9 mio Net cash 31 March 2026 € 410.8 mio Based on share price (closing) of € 232.0 on 31 December 2025 5 Corrected for treasury shares Based on share price (closing) of on 31 March 2026 CEO quote John-Eric Bertrand Co-CEO Piet Dejonghe Co-CEO "We are pleased to share with you a very strong set of results for 2025, highlighted by a 29% year on year increase of our net consolidated profit. DEME, the Private Banks and SIPEF performed extremely well and post record contributions to our consolidated results. Their strong operational capabilities should allow them to capitalise on a strong orderbook at DEME, an unprecedented high level of total client assets at the Private Banks, and a growing output from maturing palm oil hectares at SIPEF to continue delivering solid results in 2026. Both DEME and our Private Banks have in addition further reinforced their market positions, respectively through the acquisition of Norwegian offshore wind contractor Havfram, and the continued external growth in the Belgian and Dutch private banking market. Nextensa has also substantially improved its profitability and accelerated its strategic repositioning by successfully divesting several real-estate assets. Although some of our participations were not immune to challenging market conditions affecting demand and to currency fluctuations, our Growth capital segment has also shown a strong recovery. We wish to express our sincere gratitude to our outstanding management teams and employees across all segments. Their unwavering focus on client service and innovation has been instrumental in driving our sustainable growth as we celebrate our 150 years of existence." 6 (February 27, 2026) ESG highlights in 2025 ESG supports sustainable long-term value creation across the diversified portfolio of AvH by embedding it in strategy, business culture and operations. This builds resilience through mitigation of risks and unlocking opportunities. 4 ESG key group topics Responsible shareholder ('G') : sustainable business models with clear policies. Screening new investments and steering group companies on profitable long-term strategies aligned with AvH's ESG philosophy, i.e. "part of the solution" for societal challenges. > 90% AuM completed DMA, basis for targets & measurable progress monitored at board level. Climate change ('E') : reduction of greenhouse gas (GHG) emission intensity. >90% of AuM have a GHG reduction strategy towards 2030, with scope 1 and 2 intensity decreasing. Transition and physical climate risks qualitatively assessed for the first time. EU Taxonomy: turnover alignment increased to 38% (2024: 34%). 70% aligned CapEx (2024: 38%), reflecting important strategic investments in 2025 including DEME's acquisition of Havfram. Energy transition ('E') : providing solutions against global warming. >80% of AuM have defined plans contributing to the energy transition relating to products, services or internal operations. Talent management ('S') : attracting & retaining talent for sustainable business models. >80% of AuM have relevant talent strategies and employee engagement frameworks . AVH: a shateholdet of sustainable Companies (2025) Growth capital Integration ESG factors into different business models Active in various sectors SIPEF Sustainable RSPO palm oil production, high relative rating on ESG indices Sagar Cements Focus on energy efficiency, circular and renewable energy Nextensa Sustainable buildings and urban (re)development 7% 10% 18% Shareholders' equity AvH 33% 32% DEME Offshore wind: global leading contractor, 144 MWh concessions Environmental remediation, use of renewable energies Strong innovation focus CFE Sustainable and innovative construction Energy efficient buildings Rail infrastructure Top Employer approach DEEP C Holding Integration ESG factors in port development Alternative for global supply chain risks Delen Private Bank Responsible investment policy Business culture focused on high client satisfaction (NPS) Bank Van Breda Safe Haven: high solvency, high client satisfaction level, … Strong business culture (Great Place to Work, …) Consolidated gtoup tesult (in € mio) 2025 2024 2023 Marine Engineering & Contracting 241.9 201.8 128.5 Private Banking 287.4 258.5 208.7 Real Estate 23.5 -6.4 15.6 Energy & Resources 41.3 20.6 24.6 Contribution from core segments 594.1 474.5 377.4 Growth Capital 26.3 -8.6 10.9 AvH & Subholdings -22.0 -9.9 -14.8 Consolidated group result before capital gains 598.3 456.1 373.5 Net capital gains/losses -5.8 3.8 25.7 Consolidated group result 592.5 459.9 399.2 Othet key figutes Consolidated balance sheet AvH group (in € mio) 2025 2024 2023 Shareholders' equity (group share) 5,701.1 5,278.2 4,914.0 Net cash AvH & subholdings 428.9 362.4 517.5 Key figures per share (in €) 2025 2024 2023 Number of shares (#) 33,157,750 33,157,750 33,496,904 Net result ¹ 18.14 14.07 12.13 Gross dividend 4.6 3.8 3.4 Equity ¹ 174,5 161.6 150.2 Stock price: highest 235.6 193.1 165.2 lowest 179.4 153.2 136.8 close 232.0 190.5 158.8 AVH inVestments (in € mio) 2025 2024 2023 Investments 87.2 245.9 95.6 - Follow-up investments 67.3 100.2 72.3 - New participations 19.9 145.7 23.3 Divestments -2.4 -15.6 -67.8 Investments New investments in: Venturi II (commitment of $ 20 mio ). VKC Nuts (€ 19,9 mio, 16.6% direct stake, 18.2% beneficial including Venturi). Increase of participations in listed portfolio companies: Nextensa (€ 22.3 mio; +5.4%). SIPEF (€ 8.2 mio; +1.1%). Camlin Fine Sciences (€ 4.6 mio; +1.0%). Follow-up investments in Growth Capital portfolio, including: € 13.3 mio India & South-East Asia and € 7.0 mio Life Sciences. Divestments: cash proceeds of € 2.4 mio, mainly related to additional income following the sale of the former Van Laere-site in EConomiC footptint of the AVH gtoup (2025) Pro forma group personnel (1) Pro forma consolidated turnover (1) Equity (group share) Contribution to AvH result 10,559 3,928 24,931 8,825 1,577 42 1 1,023 1,010 1,025 1,817 € 5,701 mio 399 577 264 23 € 7,674 mio 5,257 1,883 41 -2 23 242 € 592.5 mio 287 MARINE ENGINEERING & CONTRACTING PRIVATE BANKING REAL ESTATE ENERGY & RESOURCES AvH & GROWTH CAPITAL Value Cteation sinCe IPO : a stoty of Compounding (pet shate, in €) From € 50 mio market cap at IPO in 1984 to € 7.7 bn in 2025 (1) 1984-2025 (CAGR since IPO) + 12.7% Total shareholder return + 12.7% Equity & dividend Last 5 years (CAGR) +15.0% Total shareholder return +12.1% Equity & dividend The long-term partner of choice of family businesses and management teams to help build high-performing market leaders and contribute to a more sustainable world 250 200 150 100 50 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 EǪUITY PER SHARE AvH SHARE PRICE Shate petfotmanCe Vs BEL20 26 FEB 2026 € 2G8.00 31 MAR 2026 € 262.60 6 MAY 2026 € 2G6.40 30 SEP 2025 € 218.00 31 DEC 2025 € 232.00 1 JAN; 2025 € 1G3.40 30 JUN 2025 € 217.00 Outlook 2026 Confitmed "The board of directors is confident in the strategic positioning of AvH's core participations and the robustness of the portfolio. The strong orderbook at DEME, the record levels of assets under management at the Private Banks and a further growth of SIPEF's production will support the results also in 2026. Strong balance sheets in the participations and the net cash of 428.9 million euros at the level of AvH position the group for further growth. Despite volatility in the markets and ongoing geopolitical uncertainty, the board of directors expects the net profit of 2026 to be roughly in line with the record result of 2025." February 27, 2026 "Despite the global macroeconomic and geopolitical uncertainties, AvH confirms its earlier guidance that net profit of 2026 is expected to be roughly in line with the record result of 2025." May 21, 2026 16 Growth Capital Matine Engineeting G DEME Group CFE Deep C Holding Green Offshore ConttaCting 62% 62% 81% 81% DEME, Hai Long offshore wind farm Conttibution to AVH Consolidated net tesult 18 MARINE ENGINEERING & CONTRACTING (in € mio) 2025 2024 2023 DEME Group 212.6 176.5 98.6 CFE (excl. DEEP C Holding, Green Offshore) 15.6 8.4 6.8 DEEP C Holding 8.5 10.3 7.1 Green Offshore 5.2 6.6 16.0 Total 241.9 201.8 128.5 DEME Gtoup One of the largest and most diversified dredging and marine engineering companies in the world. DEME > Norse Wind Key figutes DEME (in € mio) 2025 2024 2023 Turnover 4,154.7 4,101.2 3,285.4 EBITDA 930.5 764.2 596.5 EBIT 432.8 353.6 241.3 Net result 346.3 288.2 162.8 Shareholders' equity 2,363.8 2,117.8 1,910.5 Net financial position -391.3 91.1 -512.2 Total assets 6,203.6 5,475.6 4,760.1 Capex 445.0 (1) 286.4 398.9 # personnel 5,984 5,706 5,333 Excluding the acquisition of Havfram Solid start to the year with group turnover up 2% y-o-y Order book remains at a healthy level Management reaffirms guidance for the year for turnover and EBITDA margin in line with 2025 DEME's new offshore transport and installation vessel Norse Wind commenced its first assignment, while Norse Energi was delivered on schedule and within budget Key faCts G figutes Q1-2026 DEME 2025 otdetbook temains solid DEME 22 Solid order book at 7.6 billion euros compared to 7.5 billion euros at mid-year and 8.2 million euros at the end of 2024 2025 TutnoVet - Segment Bteakdown DEME ▪ 2025: 1% increase y-o-y 23 Complementaty segments Conttibute to a balanCed and diVetsified teVenue stteam DEME OFFSHORE ENERGY DREDGING G INFRA ENVIRONMENTAL CONCESSIONS (in millions of euros) FY25 FY24 FY25 FY24 FY25 FY24 Turnover 1 Y-o-y growth 2,134 +4% 2,055 1,652 -1% 1,663 272 -16% 337 EBITDA Margin 655 31% 432 21% 302 15% 358 18% 40 15% 44 13% EBIT 2 Margin 368 16% 256 13% 58 3% 118 6% 28 10% 32 6% (in millions of euros) Since start Value of projects at closing (Debt G Equity) ca. 7,200 Own equity Invested ca. 240 Contracting revenue generated ca. 3,030 (in millions of euros) FY25 FY24 Net result from associates 14 12 Key balanCe sheet items DEME Offshote Enetgy - PetfotmanCe dashboatd 2025 DEME Offshote Enetgy - Key ptojeCts 2025-2026 DEME Offshote Enetgy - Global Offshote Matket Outlook 2040 DEME Source: TGS Market Overview Report Q4 2025 (incl. China) Dtedging G Infta - PetfotmanCe dashboatd 2025 29 DEME Dtedging G Infta - Key ptojeCts 2025-2026 30 DEME EnVitonmental - PetfotmanCe dashboatd 2025 DEME EnVitonmenal - Key ptojeCts 2025-2026 DEME ConCessions - ACtiVe in fout seCtots DEME Port-La Nouvelle Concession remained involved in operational wind farms in Belgium (C-Power, Rentel, SeaMade) Streamlined Scotwind concession portfolio, exiting the Ayre project (floating) and strengthening the stake in Bowdun (1GW, bottom-fixed) Auction win for a 25-year concession for the Port of Paranagudá (Brazil), operations starting as from 2026 Outlook DEME TtaCk teCotd (in € mio) DEME 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 0 45.0% AvH shareholding 1990 1991 1992 1993 1994 39.5% 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 TURNOVER 2019 2020 2021 2022 2023 2024 EQUITY 35 2025 CFE A listed Belgian multi-disciplinary group active in: Real Estate Development (BPI) Multitechnics Construction & Renovation and investing in Port development (DEEP C 50%) Offshore wind farms (Green Offshore 50%) ZIN - Brussels CFE > Rout Lens > Esch-sur-Alzette > G.D.Luxembourg Key figutes CFE (in € mio) 2025 2024 2023 Turnover 1,041.6 1,182.2 1,248.5 Net result ¹ 33.5 24.0 22.8 Shareholders' equity 264.0 247.8 236.8 Net financial position 43.8 -41.7 -93.3 # personnel 2,606 2,775 2,914 As reported by CFE. i.e. including contribution from DEEP C Holding (€ 5.2 mio 2025, € 6.4 mio 2024, € 4.4 mio 2023) and from Green Offshore (€ 3.2 mio 2025, € 4.1 mio 2024, € 9.9 mio 2023). These contributions are presented separately further in this presentation. Key figutes Turnover Operational result¹ Net result Order book (in € mio) Q1-26 Q1-25 2025 2024 2025 2024 2025 2024 2025 2024 Real estate development 13.7 16.7 76.7 125.7 14.5 8.5 12.0 8.0 220.0 256.0 Multitechnics 83.0 68.5 301.4 304.3 9.2 10.2 6.0 6.3 338.1 286.9 Construction & Renovation 173.0 179.6 683.4 788.5 19.3 8.3 16.5 10.6 1,286.3 1,343.5 Investments & Holding (incl. eliminations) -3.0 -3.4 -20.0 -36.3 1.8 5.1 -1.0 -1.0 -211.8 -240.1 Total 266.7 261.4 1,041.6 1,182.2 44.9 32.0 33.5 24.0 1,632.6 1,646.3 CFE Highlights Q1-2026 CFE Group Q1 turnover +2% y-o-y: 21% increase for Multitechnics, partly offset by weaker Q1 turnover in Real Estate Development and Construction & Renovation Positive net cash position of €48.3 million on 31 March 2026 (up €140 million since 31 March 2025) Result from operating activities/EBIT + share of result of equity methods Highlights 2025 (1/2) CFE Turnover: anticipated decrease (-12% YoY), mainly related to Construction & Renovation in Belgium and Poland, and to MOBIX. EBITDA: margin improved from 4.2% (2024) to 6.0% (2025), resulting in a 26% growth of nominal EBITDA despite decrease of turnover. Operational result: +40% YoY to € 44.9 mio. Orderbook remains stable at € 1.6 bio (in Multitechnics: + 26% YoY). Net Financial Position: surplus of € 43.8 mio thanks to the record operating cash flow. Return On Equity 13.5%. REAL ESTATE DEVELOPMENT (BPI) Total real estate portfolio down 14% since year-end 2024 to € 220 mio. Net result +50% (€ 12.0 mio) Profit margin on apartments in Poland. Capital gains related to sale of 40% stake Piano Forte in Poland, sale of Brouck'R office building to National Lottery and sales of John Martin's project in Antwerp. Belgium: on-going commercialization project Brouck'R in Brussels. Good progress on EQ office building in EU district. GDLuxembourg: Mertert project is progressing well (over 90% of apartments sold). Poland: >85% commercialization for Chmielna project in Warsaw and Cavalia project in Poznan + acquisition of office tower in Warsaw for reconversion to residential use. MULTITECHNICS (VMA, MOBIX) Turnover: overall stable (€ 301 mio), but mixed view VMA turnover +5%, mainly due to work for data centers and hospitals, while Industrial Automation (automative sectors) faced considerable decline. MOBIX turnover -15%, mainly due to slow business in railway sector, but growth for public infrastructure works in Wallonia. Net result: € 6.0 mio in 2025 (€ 6.3 mio in 2024). 39 Order book is up 18% vs year-end 2024 and stands at € 338.1 mio which is entirely attributable to VMA. Highlights 2025 (2/2) CFE CONSTRUCTION & RENOVATION (Belgium, Poland, Luxembourg) Turnover: -13% decrease YoY Belgium: 13% decrease in turnover as major projects have been completed, especially in Brussels region and Wallonia, with robust activity in Antwerp region (Oosterweel, Ineos One, SD Worx HQ, 'Nieuw Zuid'). Luxembourg: 38% growth after 2 years of market contraction. Trend is expected to continue (major projects for PWC HQ, Red Cross, residential buildings Rout Lens…). Poland: 35% decline in turnover less favourable market conditions in logistics and office sectors. Net result: from € 10.6 mio (2024) to € 16.5 mio (2025), supported by transaction concerning the ZIN project in Brussels, disposal of LTS production units and significant lower number of loss-making projects. 40 Order book: 4% decrease compared to year-end 2024 at € 1.3 bio (significant new contracts: EQ building in Brussels, Permeke building in Antwerp for Matexi, renovation of Newton office building in Brussels for AG Real Estate, …). OUTLOOK Medium/Long-term outlook remains positive as CFE is well positioned in growth markets (renovation, energy performance in buildings, infrastructure for energy transition, complex projects in sectors like industry, hospitals, defence, datacenters). Through the combination of its various activities, CFE is responding to growing market demand for solutions covering the entire project life cycle - from development to construction, including multi-technical installations and maintenance. CFE expects that the net income in 2026 should be close to that of 2025. CFE will seek to leverage its strong cash position to seize new growth opportunities, while continuing to manage risk rigorously.

View stock analysis, news, and events for Ackermans & Van Haaren Nv