Excellent portfolio performance leads to a 7.5% increase in Net Asset Value to EUR 57.2 per share

Press release

Gimv NV - Karel Oomsstraat 37, 2018 Antwerp, Belgium - T +32 3 290 21 00 - www.gimv.com

Excellent portfolio performance leads to a 7.5% increase in Net Asset Value to EUR 57.2 per share

• Our companies once again demonstrate solid growth, delivering a 9.4% portfolio return in the first half of FY 2026, 18.8% on an annualized basis.
• Sustained value creation further increases the portfolio value to EUR 2.4 billion.
• H1 net profit of EUR 148.4 million (EUR 4 per share) increases equity value per share to EUR 57.2 (+7.5% in the first half, or +15% on an annualized basis).

Antwerp, September 3rd, 2026, 7:00 AM CET, Regulated information

CEO Koen Dejonckheere:

“In still volatile and uncertain market circumstances, our companies again demonstrated excellent growth performance, reflecting their strong fundamentals and the success of Gimv's value creation approach. This results in a solid portfolio return of 9.4%, or 18.8% on an annualized basis, above our annual portfolio return target of 17.5%.

In line with our strategic growth target, we continue to expand the size of our portfolio, reaching a new record level of more that EUR 2.4 billion, 50% higher than the portfolio value at the moment of our capital increase early 2025.

In the first half of the financial year 2026, Gimv generated a net profit of EUR 148.4 million, or EUR 4 per share. This leads to a growth of 7.5% of the Net Asset Value per share to EUR 57.2 in six months.

We continue to invest in entrepreneurial and innovative companies with strong long-term growth potential, while maintaining substantial investment capacity to seize future investment opportunities.

Through Combining Intelligence, we combine entrepreneurial expertise and experience with AI￾enabled capabilities and tangible technological solutions to help our portfolio companies accelerate digital transformations and strengthen their long-term competitive advantage. Therefore, we create the new function of ”Chief Digital Transformation” at the level of our executive committee. As such, we can embed technological innovations even more in the core of the strategy of Gimv and our portfolio companies.”

Interim consolidated key figures (first six months of Financial Year 2026)

* In order to be comparable with the first half of fiscal year 2026, the first half of 2025 has been adapted to represent the period January to June 2025 (covering Q4 of the fiscal year 2024/25 and Q1 of the fiscal year 2025)

** Excluding dividend, the NAV as at end FY 2025 amounted to 1,957.7 mio EUR or EUR 53.2/share

Note: all financial data in this press release are based on the Investment basis, providing a “look through” of the IFRS statements to present the underlying performance of our companies (see explanation in our FY 2025 annual report). A reconciliation of the Consolidated Statements from Investment basis to IFRS basis is shown at the end of this press release.

Notes to the consolidated figures

Gimv companies continue to deliver strong growth performance

• Solid Sales and EBITDA growth (y-on-y 2026 on 2025) of around 10%, while expanding margins
• Two thirds of the growth is organic
• Above target portfolio result of 199 mio EUR (9.4% return – 18.8% on annual basis)
• Net profit of 148.4 mio EUR or EUR 4 per share

In still volatile and uncertain market circumstances, the companies in our four platforms (Consumer, Healthcare, Smart Industries and Sustainable Cities) once again have delivered a growth performance in the first half of 2026 above the overall Economic growth. Year-to-date figures for 2026 show a sales growth of 8% and a growth in EBITDA of 12% versus the comparable period in 2025, demonstrating expanding margins. Both for sales and EBITDA, two thirds of this growth originate from organic expansion.

In the first half of 2026, our companies in the Smart Industries platform could benefit from the transition towards improving industrial market conditions by end 2025/early 2026. Companies in both the Consumer and Healthcare platform could continue to expand their margins, with growth in EBITDA outpacing sales expansion. Finally, some companies in the Sustainable Cities platform were somewhat negatively impacted in the first months of the year by adverse weather circumstances, but are clearly picking up the growth trend again in the last months of the first half of 2026.

The sustained growth performance of our companies in the first half of 2026 has led to a total portfolio result of 199 mio EUR, or a non-annualized portfolio return of 9.4%. On an annualized basis, this represents a portfolio return of 18.8%, above our annual target of at least 17.5%.

The average EBITDA multiple used to measure the fair value of our companies under IFRS remained stable versus the end of 2025 at 9.7x. The average calibration effect on the multiples used evolved from -17% end December 2025 to -16% at the end of June 2026.

The positive valuation result was mainly determined by the strong operational results of our companies, with growth in EBITDA having a positive valuation impact of 196.3 mio EUR, once again showing evidence that growth in operating profitability is the main contributor to the total portfolio result of 199 mio EUR.

Thanks to the strong portfolio result, Gimv’s net profit for the first half of 2026 amounts to 148.4 mio EUR or EUR 4 per share. This translates into a non-annualized net return on equity of 7.5%, an increase versus the net return for the comparable period in 2025.

Maintained growth acceleration of the portfolio, expanding to an all-time high of more than 2.4 billion EUR

• 134 mio EUR invested in both new and existing portfolio companies,
• Value creation initiatives support portfolio growth

During the first half of the financial year 2026, Gimv invested EUR 134 million. Through Gimv Anchor Investments, Gimv acquired a shareholding of more than 6% in Azelis, becoming one of the company's largest long￾term shareholders. In addition, Gimv signed an agreement to acquire Groupe Cap Vert, the French leader in tree and vegetation management services, a highly complementary addition to the Sustainable Cities platform portfolio. When adding this investment to the portfolio (closing is expected in September 2026), the total portfolio value exceeds EUR 2.5 billion.

Alongside these new investments, Gimv continued to actively support the development of its existing portfolio companies. Across the portfolio, companies continued to execute on their value creation plans through targeted acquisitions, international expansion, capacity investments and innovation-driven milestones. Examples include acquisitions by Sofatutor, Quality Guard, Hemink, Equine Care Group and Cegeka as well as BioConnection's manufacturing capacity expansion.

Including follow-on investments, Gimv invested a total of EUR 134 million during the first six months of the financial year. During the same period, Gimv realized the exits of ALT Technologies and AlpenBlu Clinics (formerly Les Psy Réunis). Total proceeds from portfolio exits amounted to EUR 42 million, generating EUR 15.5 million of realized capital gains.

As of 30 June 2026, Gimv's core investment portfolio across its four investment platforms and Gimv Anchor Investments amounted to EUR 2.2 billion. Including the remaining Life Sciences portfolio (4.6% of the total portfolio value) and Infravest (4% of the total portfolio value), the total investment portfolio reached EUR 2.4 billion.

The core portfolio comprises 49 companies. Gimv also continues to actively manage 10 remaining Life Sciences companies, following the strategic decision to discontinue new investments in the sector.

The portfolio remains well diversified, with the ten largest investments representing 50.3% of total portfolio value and no individual investment representing more than 10% of the total portfolio value.

Portfolio composition (in mio EUR)

Persistent strong equity growth

• Net equity value per share grows with 7.5% in six months to 57.2 EUR (or 15% annualized)
• Available liquidity of 531.4 mio EUR (of which 131.4 mio EUR available as cash on the balance sheet)

After payment of the dividend (EUR 1.95 per share) for the previous financial year 2025 and including the net profit of the first half of the financial year 2026 (EUR 4 per share), the net equity value grew with 7.5% to EUR 57.2 per share at the end of June 2026. Gimv’s total net equity value further grew to 2,105.1 mio EUR at the end of June 2026.

Taking into account the cash impact of the dividend (71.8 mio EUR), investments of 134 mio EUR and exit proceeds of 42 mio EUR, Gimv’s liquidity and investment capacity remained intact at a total level of 531.4 mio EUR, of which 131.4 mio EUR cash on the balance sheet and a 400 mio EUR undrawn revolving credit facility. The latter has been renegotiated and doubled in the first quarter of 2026.

This liquidity is partly financed by bonds (350 mio EUR), resulting in a negative net cash on the balance sheet of -216 mio EUR. In other words, the equity of Gimv is more than fully invested in the portfolio. Right after the end of the first half of the current fiscal year, 75 mio EUR of the outstanding bonds have been repaid, bringing the current amount of bond financing to 275 mio EUR and the available liquidity to 456.4 mio EUR.

Sustainability

Gimv continues to deepen the integration of sustainability across its investment process, with an increasing focus on translating sustainability into long-term value creation. During the first half of the year, Gimv developed the first platform-specific sustainability value creation blueprint, supported by initial proof points demonstrating how sustainability can create commercial, operational and strategic value across the portfolio.

Building on this foundation, Gimv continues to support its portfolio companies in their decarbonisation ambitions through a pragmatic, company-specific approach. By helping companies measure greenhouse gas emissions, establish reduction targets and identify value-creating decarbonisation initiatives, Gimv strengthens both resilience and long-term competitiveness.

Portfolio growth (in mio EUR)

Key events after 30/6/2026

• The valuation of our portfolio is based on market multiples as at the end of June 2026. Since then, we have closely followed the evolution of the stock markets. To date, we have not noticed any evolution in market multiples that indicates that our valuation should be adjusted.
• On July 5, 2026, Gimv repaid 75 mio EUR of its outstanding bonds, bringing the total amount of outstanding bonds to 275 mio EUR.
• Mid August, Spineart announces that the BAGUERA® C cervical disc has received FDA approval for 1 and 2 contiguous levels, expanding access in the United States to a motion-preserving solution for patients suffering from cervical disc disease. This news might have a positive impact on the future valuation of Spineart.
• In August, Gimv sold its stake in the Swiss group of Medical Practices MVZ Holding without impact on the Net Asset Value.
• Gimv creates the function of “Chief Digital Transformation” at the level of its executive committee. Meanwhile, this position has been filled with an external international profile. The new member of the executive committee will be presented later.
• Tom Van de Voorde, Platform Head of Smart Industries, has decided to leave Gimv. We want to thank Tom for 19 years of fruitful collaboration and Building Leading Companies together. We wish him all the best with his future endeavours. Information regarding the succession will be communicated later.

Statement regarding risk

The future performance of our companies and the value development of our portfolio depend on a number of external factors, such as: (i) the impact of the global economic instability on the growth and margins of our companies and how they are able to cope with its impact, (ii) the impact of geopolitical tensions and the potential impact on international trade. (iii) the impact of inflation on the policy of Central Banks and the related consequences for interest rate evolutions, (iv) the extent to which consumer confidence is affected by rising prices, (v) the evolution in the labour market and the availability of sufficiently qualified personnel for our companies, (vi) the liquidity in the banking system to support companies, including in case of possible further financing needs, (vii) the stability of the regulatory and financial environment in the markets in which both Gimv and its companies operate, (viii) the extent to which the market for investments and acquisitions remains active, accompanied by a sufficient level of liquidity and feasible financing conditions, and (ix) the extent to which the financial markets can maintain their stability. It is extremely difficult to estimate the impact of all these factors in the coming period.

Management declaration in accordance with the Royal Decree of 14 November 2007

In accordance with Article 13 §2 3° of the Royal Decree of 14 November 2007, CEO Koen Dejonckheere and CFO Kristof Vande Capelle declare the following in the name of and on behalf of Gimv and to the best of their knowledge:

a) The half-yearly financial statements on 30 June 2026 have been prepared in accordance with the IFRS and IAS 34 “Interim Financial Reporting” as approved by the European Union, and they provide a true and fair view of the assets, financial position and results of Gimv and the companies included in the consolidation.

b) The half year report gives a fair overview of the main events of the first half of the financial year, their impact on the financial statements, the main risk factors and uncertainties for the remaining months of the financial year, as well as the main transactions with related parties and their impact, if any, on the summarised financial statements.

Statutory auditor’s report

The statutory auditor, BDO Bedrijfsrevisoren BV, represented by Veerle Catry, has confirmed that its review procedures in accordance with ISRE 2410, which have been carried out thoroughly, are completed and have not revealed any significant adjustments that should be included in the accounting information published in this press release.

2026 Half-year report

Our 2026 Half-year Report and Investor Presentation will be available later today on our website.

Financial calendar

Annual results for FY 2026
18 February 2027

Annual report FY 2026
30 March 2027

Annual General Meeting FY 2026
26 May 2027

About Gimv

Gimv is a European investment company listed on Euronext Brussels and a member of the Euronext BEL ESG Index. With over 45 years of private equity experience, Gimv currently manages around EUR 2.5 billion of assets across a portfolio of some 60 companies, representing combined turnover of EUR 5 billion and more than 20,000 employees.

As a recognised market leader in four sector-focused investment platforms (Consumer, Healthcare, Smart Industries and Sustainable Cities) as well as through Gimv Anchor Investments, Gimv partners with entrepreneurial, innovative businesses with strong growth potential and supports their transformation into market leaders. Each platform operates with an experienced local team across Gimv’s home markets (Benelux, France and DACH), backed by an international network of experts.

www.gimv.com.

For further information please contact:
Kristof Vande Capelle, Chief Financial Officer*
T +32 3 290 22 17 – kristof.vandecapelle@gimv.com
* acting on behalf of a company

Consolidated statements according to Investment basis and reconciliation with IFRS

Reconciliation of the consolidated statement of profit & loss and other comprehensive income for the first six months of fiscal year 2026

In order to be comparable with the first half of the fiscal year 2026, the first half of 2025 has been adapted to represent the period January to June 2025 (covering Q4 of the fiscal year 2024/25 and Q1 of the fiscal year 2025).

Reconciliation of the consolidated statement of financial position per 30/06/2026

Reconciliation of the consolidated cash flow statement for the first six months of fiscal year 2026

In order to be comparable with the first half of the fiscal year 2026, the first half of 2025 has been adapted to represent the period January to June 2025 (covering Q4 of the fiscal year 2024/25 and Q1 of the fiscal year 2025).

Notes to the reconciliation tables Investment basis to IFRS

Notes to the reconciliation of consolidated statement of profit & loss and other comprehensive income:

1 Applying IFRS 10 to the Consolidated statement of profit & loss and other comprehensive income consolidates the line items of a number of investment subsidiaries (related to the 2024 LTIP vintage) into a single line item “Fair value movements on investment entity subsidiaries”. In the “Investment basis” accounts we have disaggregated these line items to analyse our total return as if these Investment entity subsidiaries were fully consolidated, providing a look-through up to the portfolio companies level, consistent with prior years. The adjustments simply reclassify the Consolidated statement of comprehensive income of the Group, and the net result is equal under the Investment basis and the IFRS basis.

2 Realised profits, unrealised profits and portfolio income shown in the IFRS accounts only relate to portfolio companies that are held directly by the Group and not those portfolio companies held through Investment entity subsidiaries. Realised profits, unrealised profits and portfolio income in relation to portfolio companies held through Investment entity subsidiaries are aggregated into the single line “Fair value movement on investment entity subsidiaries”.

3 Other items also aggregated into the line “Fair value movements on investment entity subsidiaries” include operating expenses or income, interest income or expenses, and LTIP.

Notes to the reconciliation of consolidated statement of financial position:

1 Applying IFRS 10 to the Consolidated statement of financial position aggregates the line items into the single line item “Investments in investment entity subsidiaries”. In the Investment basis we have disaggregated these items to analyse our net assets as if the Investment entity subsidiaries were consolidated. The adjustment reclassifies items in the Consolidated statement of financial position. There is no change to the net assets, although for reasons explained below, gross assets and gross liabilities are different. The disclosure relating to portfolio companies is significantly reduced by the aggregation, as the fair value of all investments held by Investment entity subsidiaries is aggregated into the “Investments in investment entity subsidiaries” line. We have disaggregated this fair value and disclosed the underlying portfolio holding in the relevant line item 'Direct investments'. Other items which may be aggregated include LTIP, other assets and other payables, and the Investment basis presentation again disaggregates these items.

2 Intercompany balances between Investment entity subsidiaries and consolidated subsidiaries also impact the transparency of our results under the IFRS basis. If an Investment entity subsidiary has an intercompany balance with a consolidated subsidiary of the Group, then the asset or liability of the Investment entity subsidiary will be aggregated into its fair value, while the asset or liability of the consolidated trading subsidiary will be disclosed as an asset or liability in the Consolidated statement of financial position.

3 Investment basis financial statements are prepared for performance measurement and therefore reserves are not analysed separately under this basis.

Notes to the reconciliation of Consolidated cash flow statement:

1 The Consolidated cash flow statement is impacted by the application of IFRS 10 as cash flows to and from Investment entity subsidiaries are disclosed, rather than the cash flows to and from the underlying portfolio. Therefore in our Investment basis financial statements, we have disclosed our cash flow statement on a “look through” basis, in order to reflect the underlying sources and uses of cash flows and disclose the underlying investment activity.

2 There is a difference between the change in cash and cash equivalents of the Investment basis financial statements and the IFRS financial statements because there are cash balances held in Investment entity subsidiaries. Cash held within Investment entity subsidiaries will not be shown in the IFRS statements but are represented in the Investment basis statements.

Gimv Group – Consolidated IFRS statements

Gimv Group – Consolidated statement of financial position per 30/06/2026

Gimv Group – Consolidated statement of profit & loss and other comprehensive income for the first six months of Fiscal Year 2026

Gimv Group – Statement of changes in consolidated equity for the first six months of Fiscal Year 2026

Gimv Group – Consolidated cash flow statement for the first six months of Fiscal Year 2026