Trading update Q1 2025

Key items:

• Quarterly direct result per share (DRPS) € 0.44, +7% compared to previous year
• Successful completion of Knauf shopping center acquisitions in Luxembourg
• Continued improvement in Dutch leasing market with flat leasing spreads; all former Blokker units re-leased
• Daily life retail accounts for around 70% of revenue, providing resilience in current uncertain economic environment
• Ongoing FSC transformations progressing according to plan and within budget
• Confirming guidance FY 2025 DRPS: in higher end of € 1.70-1.80 range