Retail Estates N.V.

Overview

Retail Estates N.V. is a Belgian public regulated real estate company ('RREC' – 'Belgian REIT') investing in out-of-town retail properties located outside the largest cities of Belgium and the Netherlands. Its primary goal is to assemble, manage, and expand a portfolio of peripheral retail properties, ensuring steady, long-term growth due to strategic location choices and the quality and diversification of its tenants. This growth is driven by both the value of the assets and the income generated from leasing. The company focuses on properties situated on the periphery of residential areas or along main access roads to urban centers. Retail Estates N.V. aims to have a diverse representation of retail sectors within its tenant base, with a preference for sectors known to have valuable retail outlets. This strategic diversification helps mitigate risks associated with economic downturns, as not all retail sectors are equally affected by potential declines in turnover. As of 30 September 2025, Retail Estates N.V. managed a portfolio comprising 1,020 properties with a total retail area of 1,213,544 square meters. The fair value of the real estate portfolio was €2,087.06 million. The company is listed on Euronext Brussels and Amsterdam, with a market capitalization of €954.2 million on the same date. The fiscal year ends on 31 March, and the general meeting is held on the penultimate Monday of July each year.

Investment Focus

• Diversified tenant base
• Properties located on the periphery of residential areas or along main access roads to urban centers