ER Capital (ERC) investor relations material

Executive summary

• Achieved significant portfolio expansion and strategic milestones, including the acquisition of Businesspark Geusselt and a joint venture for residential redevelopment in Hoofddorp.

• Gross rental income more than doubled year-over-year, supporting improved recurring operating performance.

• Net loss after tax narrowed to €1.4 million, an improvement of €2.5 million compared to H1 2025.

• Equity increased by €2.0 million to €5.0 million, mainly due to non-controlling interest transactions.

Financial highlights

• Gross rental income rose to €4.6 million, up from €2.2 million year-over-year, driven by acquisitions.

• Property expenses increased to €1.0 million, in line with rental income growth.

• Financial expenses rose to €3.1 million, reflecting new property financing.

• Administrative costs decreased by €1.8 million to €2.3 million, due to lower listing-related expenses.

• Net cash from financing activities was €19.2 million, mainly used for the Businesspark Geusselt acquisition.

Outlook and guidance

• Focus remains on active portfolio management, liquidity, and refinancing obligations for the rest of 2026.

• Evaluating further investment and funding opportunities, with timing and completion subject to market and regulatory conditions.

• Negative working capital position expected to reverse by year-end due to timing effects and refinancing.

• Liquidity forecast and downside scenarios indicate sufficient liquidity for at least 12 months.