PB Holding N.V. — Earnings Release 2025

Apr 13, 2026

PB

PB Holding N.V.
Westersingel 86
3015 LC ROTTERDAM
www.pb-holding.nl

Press Release

PB Holding Reports Full Year 2025 Results

Rotterdam, 13 April 2026 – PB Holding N.V. ("PB Holding" or the "Company") reports a net loss of €1,015 thousand for the financial year 2025, a significant deterioration compared to a net loss of €384 thousand in 2024.. The Company holds 515,000 certificates of shares.

At the start of the financial year, the Company had a liquidity position of €48 thousand. To support working capital requirements, Handelsbanken provided an unsecured revolving credit facility of €300 thousand which was increased to €700 thousand during the financial year.

Key Developments

• No dividend was received from Bovemij in 2025 (2024: nil). Certificates of shares in the capital of Bovemij N.V. were written down from €32.27 to €31.31. The Company holds 515 thousand certificates.
• Other operating expenses rose to €381 thousand (2024: €253 thousand), driven by legal and advisory costs related to the public offer by Nafimij B.V.

Outlook PB Holding continues to focus on maximizing sustainable long-term value creation to all stakeholders and does not anticipate to declare dividends. It is committed to developing and communicating a New Strategy in the second half of 2026.

Subsequent Events

• On 8 January 2026, Vereniging BOVAG and ASR Nederland N.V. announced the conditional transaction under which, upon closing, the Company will receive €40.00 per certificate of share.
• On 23 February 2026 and 2 March 2026, shareholders of the Company and depository receipt holders, respectively, approved the conditional transaction

Annual General Meeting

PB Holding N.V. will separately convene its Annual General Meeting of Shareholders on 11 June 2026. The agenda, the convocation notice and the accompanying documents, including the 2025 annual report, will be made available via the Company's website – www.pb-holding.nl.

Financial Calendar

The financial calendar is as follows:

Publication of 2025 annual results 13 April 2026
Annual general meeting of Shareholders 11 June 2026
Publication of 2025 half-year results 31 July 2026

This press release is based on the prepared financial statements for 2025 to be approved by the Annual General Meeting of Shareholders on 11 June 2026.

PB Holding N.V.
13 April 2026

This press release contains inside information relating to PB Holding N.V. within the meaning of Article 7(1) of the EU Market Abuse Regulation.

Page 1 of 6

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PB

PB Holding N.V.

Westersingel 86

3015 LC ROTTERDAM

www.pb-holding.nl

Company Financial Statements

Company Statement of Income

PB Holding N.V.

(in € thousands)	2025	2024
Revenues	-	-
Value changes of financial fixed assets	(494)	-
Personnel expenses	(126)	(128)
Other operating expenses	(381)	(253)
Operating profit (EBIT)	(1,002)	(381)
Financial income and expenses	(14)	(3)
Profit before taxes	(1,015)	(384)
Taxes	-	-
Profit after taxes		(384)
Earnings per share (in €)
Basic	(0.19)	(0.07)
Diluted	(0.19)	(0.07)

Page 2 of 6

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PB

PB Holding N.V.
Westersingel 86
3015 LC ROTTERDAM
www.pb-holding.nl

Company Statement of Comprehensive Income

PB Holding N.V.

as at 31 December

(in € thousands)	31.12.2025	31.12.2024
Profit after taxes	(1,015)	(384)
Other comprehensive income (OCI)
OCI to be reclassified to profit or loss in subsequent periods
Income tax effect	-	-
Income and expenses not realized in the income statement	-	-
Total realized and unrealized results after-tax	(1,015)	(384)
Total result attributable to
Continuing operations	(1,015)	(384)
Discontinuing operations	-	-
Total result	(1,015)	(384)

Page 3 of 6

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PB Holding N.V.
Westersingel 86
3015 LC ROTTERDAM
www.pb-holding.nl

Company Balance Sheet

PB Holding N.V.

(in € thousands)	31.12.2025	31.12.2024
Assets
Non-current assets
Other financial assets	16,125	16,619
Current assets
Other current assets	17	43
Cash and cash equivalents	31	48
	48	91
Total assets	16,173	16,710
Equity and liabilities
Share capital	535	593
Share premium reserve	32,448	32,448
Revaluation reserve	7,793	8,287
Profit for the year	(1,015)	(384)
Other reserves	(24,183)	(24,351)
Total shareholders’ equity	15,578	16,593
Current liabilities
Creditors	52	72
Other liabilities	146	45
Revolving loans and overdrafts	397
	595	117
Total equity and liabilities	16,173	16,710

Page 4 of 6

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PB

PB Holding N.V.
Westersingel 86
3015 LC ROTTERDAM
www.pb-holding.nl

Company Statement of Cash Flows

PB Holding N.V.

(in € thousands)	2025	2024
Profit/(loss) before income tax	(1,015)	(384)
Adjustments for:
Result Bovemij N.V.	494	-
Financial expenses	14	-
Changes in working capital
Movement in current assets	27	(9)
Movement in accounts payable	78	51
Cash flow from operating activities	(403)	(342)
Cash flow from investing activities	-	-
Proceeds from loan drawdown	397	-
Dividends paid to shareholders		-
Repurchase of shares		(212)
Interest paid	(11)
Cash used for financing activities	386	(212)
Cash at beginning of the year	48	602
Change of cash	(17)	(554)
Cash at end of the year	31	48

Page 5 of 6

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PB

PB Holding N.V.
Westersingel 86
3015 LC ROTTERDAM
www.pb-holding.nl

Company Statement of Changes in Equity
PB Holding N.V.
as at 31 December

(in € thousands)	Share capital	Share premium	Other reserves	Revaluation reserves	Profit for the period	Total
Balance at January 1, 2025	593	32,448	(24,351)	8,287	(384)	16,593
Profit after tax					(1,015)	(1,015)
Cancellation of 575'000 shares	(58)		58
Profit allocation			111	(494)	384
Balance at December 31, 2025	535	32,448	(24,183)	7,793	(1,015)	15,578
Balance at January 1, 2024	593	32,448	(24,164)	10,877	(2,565)	17,189
Profit after tax					(384)	(384)
Profit allocation			25	(2,590)	2,565	-
Share repurchases			(212)			(212)
Balance at December 31, 2024	593	32,448	(24,351)	8,287	(384)	16,593