New Amsterdam Invest N.V. annual results and annual report 2025

AMSTERDAM, April 22, 2026 /PRNewswire/ — New Amsterdam Invest N.V. (the «Company», or «New Amsterdam Invest», or «NAI»), a Dutch commercial real estate company listed on Euronext Amsterdam, announces its annual results and annual report for the financial year 2025, today.

Aren van Dam, ceo New Amsterdam Invest commented:«With modest pride we report on New Amsterdam Invest 2025 results. The financial year 2025 marked another important year for New Amsterdam Invest N.V., during which the Company continued to develop its activities to deliver on our strategy of both stable growth and maintain a balanced portfolio of value to our shareholders».

For the financial year 2025 we achieved an operational result of € 9.4 million. The net rental income for the same financial year amounted to € 11.9 million resulting in a profit of € 3.9 million after tax of which € 2.5 million is attributable to our shareholders. During the financial year, we once again were able to pay our shareholders dividend of € 0.45 per share, which result in a total distribution to our shareholders of € 2.4 million.

At year-end, the total appraised value of the property portfolio of NAI amounted to € 118 million. These investments are financed through shareholders’ equity, bank loans of € 58 million and related-party loans of € 7 million. The cash position at the balance sheet date was € 13.5 million. This should be viewed in relation to the € 11.0 million in two-year loans obtained from investors towards the end of the financial year 2025.

The Company operates in a challenging environment with risks of significant currency exchange differences, partly due to the present turbulent geo-political and economic conditions. We believe that the long-term focus of our strategy and our operations are our strength.

New Amsterdam Invest wants to position itself as a dividend stock. Consequently, we aim to meet our financial and quantitative parameters, which include a yearly dividend pay-out. As management we are confident to build NAI further and to be well on track to reach the articulated financial objectives of the Company.

Financial Highlights[1]

• Rental Income 2025: € 18.5 million
• Net Rental Income 2025: € 11.9 million
• Result 2025 after non-controlling interest: € 2.5 million
• Earnings per ordinary share: € 0,47
• Total investment property 2025YE: € 118.0 million
• Total Equity 2025YE: € 51.4 million; before non controlling interest € 43.0 million
• Cash generated from operations 2025: € 9.3 million
• Solvency 2025YE: 37.7%

Strategic Highlights On 30 September 2025 New Amsterdam Invest N.V announced a new financing initiative to support the acquisition of investment properties. The Company offered to issue €10 million in loans to market parties at an annual interest rate of 5% and a term of two years, with a minimum subscription per party of € 100,000. Interest will be paid annually in arrears. This two-year loan has been subscribed to by 60 investors for a total amount of € 10,970,000.

In line with its strategy, the Company signed a preliminary purchase agreement in November 2025 to acquire Fairfax Center. The total consideration amounts to approximately $ 11 million. Fairfax Center was built in 1988 and renovated in 2020. The leasable area is 55,891 sq.ft, of which 1,813 sq.ft is vacant. The occupancy rate is therefore 97%. The rental income for 2026 is estimated at € 1.6 million. This transaction is not included in the financials 2025, as the settlement occurred 15 January 2026.

To strengthen the equity position at Somerset Park Holding UK, the Company’s management board has decided to partially convert both the loan provided by New Amsterdam Invest N.V. to Somerset Park B.V. and the loan provided by Somerset Park B.V. to Somerset Park Holding UK Ltd into share premium as of 1 October 2025.

Outlook 2026The net rental income for 2026 for the Company is expected to be approximately € 13.7 million. For 2026 the Company expects an operating result before tax of € 6.8 million. This result includes Fairfax Center, but does not include valuation differences, transaction costs and/or exchange differences.

Business overview 2025The results of 2025 from group companies have been included within the Company’s results. The net rental income amounts to € 11.9 million (prior year € 7.7 million). The result before taxation for the financial year 2025 amounts to a profit of € 4.8 million (prior year € 6.2 million). Included in this profit is the negative valuation differences 2025 in the amount of € 0.4 million (prior year € 2.8 million positive).

During the financial year of 2025, it was decided to change the accounting treatment of certain contracted lease incentives in the property valuation reports for our US properties. As a result, changes have been made to the comparatives in the annual report 2025 to correct an error in the previous period related to the valuation of the investment properties. The foregoing has an impact on the consolidated net result 2024 of negative € 470k and on the group equity as of 31 December 2024 of negative € 500k. This adjusted treatment is applied in the financial statements for 2025.

Further we note that the expected loss on the VAT receivable for the amount of € 330k, as included in the general and other expenses, has been charged to the result in the financial year 2023 and has been fully released in 2024, as a result of the positive decision by the tax authority’s.

Property portfolio

The breakdown of the investments per property at Year-End is as follows:

In EUR1,000 2025 2024

Interra Remington, Houston 43,157 48,111

Somerset House, Birmingham 18,004 18,490

Travelodge, Edinburgh 14,634 13,907

One Park Ten, Houston 13,289 16,547

Blythswood Square, Glasgow 9,645 10,557

Sutherland House, Glasgow 8,325 9,190

Forthstone, Edinburgh 10,898 10,738

Total investments at fair value 117,952 127,540

Of the total 2025 net rental income of € 11,9 million, 59% was generated in the USA and 41% in the UK.

Cash flow, and cash position

The following table sets out the main items of the Company’s consolidated cash flow statement for the financial years 2025 and 2024.

(*EUR1,000) 2025 2024

Cash flows from operating activities 4,645 3,124

Cash flows from investing activities -3,643 -1,339

Cash flows from financing activities 8,069 -2,166

Net movement in cash and cash equivalents 9,071 -381

Impact of exchange differences on cash and cash equivalents -683 -12

Total movement in cash and cash equivalents 8,388 -393

The cash flow from investing activities in 2025 mainly relates to the investment in lease improvements. The cash flow from financing activities in 2025 mainly relates to the proceeds from the two-year loan received from third-party investors. These funds were raised to support the acquisition completed in early 2026 of the Fairfax Center.

Share Capital and Share Price

Number of shares

Type of shares % 31 December 2025

Ordinary shares issued to investors, admitted listing and trading 74,6 3,910,250

Ordinary shares issued to the Promoters (Cornerstone Investment), admitted to listing and trading 24,0 1,257,789

Promoter shares 1,4 73,653

Priority shares issued to Sichting Prioriteit New Amsterdam Invest 0,0 5

100,0 5,241,697

Ordinary shares owned by the Company (Treasury Shares) 943,558

Shares in total 6,185,255

Share capital at EUR0.04 per share (EUR * 1,000) 247

The ordinary share price at Euronext Amsterdam closed at € 8.75 on 31 December 2025 (31 December 2024: € 9.00)

Events after balance sheet date

On 15 January 2026, the Company completed the acquisition of the Fairfax Center office building through its newly formed subsidiary, Somerset Fairfax LLC. The acquisition was executed in accordance with the terms of a preliminary purchase and sale agreement originally entered on 7 November 2025. As the transaction was completed only in 2026, it has no impact on the financial statements for the year ended 31 December 2025. The total consideration, including purchase price, transaction costs and tenant improvements, amounted to $ 11 million.

Annual General Meeting scheduled for 5 June 2026 DV

The convocation, explanatory notes, written proxy and further documentation for the AGM

will be available in Dutch and English. All relevant documents are available in the download section of NAI’s website https://www.newamsterdaminvest.nl/#downloads.

The agenda for the AGM includes various items, amongst others, the adoption of the annual

accounts as published today, and the reappointment of BDO Audit & Assurance B.V. as external independent auditor of NAI for the fiscal year ending 31 December 2026. Full details of all voting items are published on NAI’s website. The annual report of NAI relating to the financial year ending on 31 December 2025 published 22 April 2026, including the financial statements, the reports of the management board and supervisory board and the remuneration report, have also been published on the Company’s website.

Financial Calendar

• 22 April 2026, publication Annual Report 2025.
• 22 April 2026, publication Agenda General Meeting of Shareholders 6 June 2026 DV.
• 28 August 2026, DV interim financials 2026 results publication.

P&L and Balance Sheet New Amsterdam Invest 2025

An overview of the main financial statements of New Amsterdam Invest in 2025 is provided in the following tables attached to this press release, for more detailed information we refer to the annual report 2025 as published on the NAI website.

About New Amsterdam Invest

New Amsterdam Invest N.V. is a Dutch commercial real estate company listed at Euronext Amsterdam with operating companies in the United States and the United Kingdom.

The main objective of New Amsterdam Invest is to run commercial activities including the owning, (re-)developing, acquiring, divesting, maintaining, letting out and/or otherwise operating commercial real estate, all in the broadest possible meaning.

All information about New Amsterdam Invest can be found on the company website: www.newamsterdaminvest.com

Disclaimer

Elements of this press release contain or may contain information about New Amsterdam Invest N.V. within the meaning of Article 7(1) to (4) of the EU Market Abuse Regulation.

This press release may include statements, including NAI’s financial and operational medium-term objectives that are, or may be deemed to be, ‘forward-looking statements». These forward-looking statements may be identified by the use of forward-looking terminology, including the terms »believes», »estimates», »plans», »projects», »anticipates», »expects», »intends», »may», »will» or »should» or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions.

Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect NAI’s current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to NAI’s business, results of operations, financial position, liquidity, prospects, growth or strategies. Forward-looking statements speak only as of the date they are made.

S

tatement of Consolidated Financial Position
as at 31 December 2025

(*EUR1,000) 31 December 31 December
2025 2024

Assets

Non-current assets

Investment property 117,952 127,540

Property, plant and equipment 1 3

Deferred tax assets 347 402

Other non-current assets 3,647 926

Total non-current assets 121,947 128,871

Current assets

Accounts receivable 556 769

Value added tax receivable 52 360

Other assets and prepaid expenses 213 612

Cash and cash equivalents 13,485 5,097

Total current assets 14,306 6,838

Total assets 136,253 135,709

Statement of Consolidated Financial Position

as at 31 December 2025

(*EUR 1,000) 31 December 31 December
2025 2024

Equity and Liabilities

Equity

Share capital 247 247

Share premium 49,172 49,172

Currency translation reserve -1,101 1,646

Legal reserves 2,254 868

General reserves -7,590 -6,293

Attributable to owners of the parent 42,982 45,641

Non-controlling interest 8,417 8,606

Total equity 51,399 54,247

Non-current liabilities

Loans bank 57,847 63,720

Loans related party USA 6,613 5,072

Loans private investors 10,970

Deferred tax liability 886 1,139

Total non-current liabilities 76,317 69,931

Current liabilities

Trade payables 670 425

Tax liabilities 1,711 2,049

Current account related party 886 337

Deferred rental income 2,083 1,179

Loans bank 443 408

Loans related party USA 2,340

Other short-term liabilities 2,744 4,793

Total current liabilities 8,537 11,531

Total liabilities 84,854 81,462

Total equity and liabilities 136,253 135,709

Statement of Consolidated Profit or Loss[2]
for the year ended 31 December 2025

(*EUR1,000) 2025 2024

Rental income 18,465 11,262

Direct related costs -6,585 -3,560

Net Rental income 11,880 7,702

Revaluation of investment property -347 2,787

Legal and professional fees 354 322

Personnel expenses 825 826

Administrative and overhead expenses 649 488

General expenses 319 298

Other expenses 16 -276

Total expenses 2,163 1,658

Operating result 9,371 8,831

Financial income and expense -4,620 -2,633

Result before tax 4,751 6,198

Income tax -859 -1,511

Result for the period 3,892 4,687

Result attributable to:

Shareholders 2,446 2,344

Non-controlling interest 1,446 2,343

Result for the period 3,892 4,687

Basic earnings per share (*EUR1) 0.47 0.45

Diluted earnings per share (*EUR1) 0.47 0.45

Statement of Consolidated Comprehensive Income

for the year ended 31 December 2025

(*EUR1,000) 2025 2024

Result for the period 3,892 4,687

Items which may be recycled to profit or loss (net of tax)

Exchange differences -3,483 2,644

Total comprehensive income 409 7,331

Attributable to:

Shareholders -301 4,600

Non-controlling interest 709 2,731

Total comprehensive income 409 7,331

Statement of Consolidated Cash Flows

for the year ended 31 December 2025

(*EUR1,000) 2025 2024

Operating activities

Result before tax 4,751 6,198

Adjustments

Depreciation -1 5

Unrealised foreign exchange loss / (gain) 363

Adjustment to rental income 23 -150

Reversal of impairment on VAT receivable -330

Revaluation of investment property 347 -2,787

Interest income and expense 4,218 2,795

Total adjustments 4,949 -467

Changes in working capital

Increase in current liabilities -2,216 44

Decrease/(increase) in current assets 1,008 -610
excluding cash and cash equivalents

Increase/(decrease) in trade payables 793 518

Total changes in working capital -415 -48

Cash generated from/(used in) operations 9,285 5,683

Interest paid -4,282 -2,637

Interest received 54 78

Income taxes paid -412

Cash flow from operating activities 4,645 3,124

Investing activities

Investments in investment property, net of cash -1,618 -980
acquired

Investments in tenant improvements -2,025 -358

Investments in property, plant and equipment -1

Cash flow from investing activities -3,643 -1,339

Financing activities

Proceeds from loans 11,334 530

Repayment of loans -374 -261

Dividends paid -1,993 -2,019

Distribution to non-controlling interest -899 -415

Cash flow from financing activities 8,069 -2,166

Movement Cash and cash equivalents 9,071 -381

Cash and cash equivalents as at 1 January 5,097 5,490

Exchange differences -683 -12

Cash and cash equivalents as at 31 13,485 5,097
December

Statement of Consolidated Changes in Equity

for the year ended 31 December 2025

(*EUR1,000) Share Share Currency Legal General Total Non- Total
capital premium Translation reserves reserve attributable controlling Equity
Reserve to
shareholders interest

247 49,172 1,646 -6,293 45,641 8,606 54,247

868

Balance at 31
December 2024

Result for the – 2,446 2,446 1,446 3,892
year

Other – -2,747 -2,747 -736 -3,483
comprehensive
income

Total – -2,747 2,446 -301 709 409
comprehensive
income

Transfer to legal – 1,386 -1,386
reserves

Dividend – -2,359 -2,359 -2,359

Distribution to – -899 -899
non-controlling
interest

Balance at 31 December 2025 247 49,172 -1,101 2,254 -7,591 42,982 8,417 51,399

Statement of Consolidated Changes in Equity

for the year ended 31 December 2024

(*EUR1,000) Share Share Currency Legal General Total Non- Total
capital premium Translation reserves reserve attributable controlling Equity
Reserve to
shareholders interest

247 49,762 -610 -5,970 43,430 840 44,270

Balance at 31 December 2023 –

Result for the – 2,344 2,344 2,343 4,687
year

Other – 2,256 2,256 388 2,644
comprehensive
income

Total comprehensive income – 2,256 2,344 4,600 2,731 7,331

Non-controlling – 4,015 4,015
interest acquired

Transfer to legal – 868 -868
reserves

Dividend – -590 -1,769 -2,359 -2,359

Share-based payment – 1,436 1,436

Distribution to – -415 -415
non-controlling
interest

Other – -30 -30 -30

Balance at 31 247 49,172 1,646 868 -6,293 45,641 8,606 54,247
December 2024

[2] Please note that the increase in rental income and expenses is primarily due to the fact that Remington House is included in the figures for 2.5 months in 2024 (2025 whole financial year).

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