34. Events after the reporting period

In January 2026, the Group signed an agreement to acquire Gebroeders Blokland B.V., an integrated residential property developer and builder based in Hardinxveld‑Giessendam, The Netherlands. The acquisition includes a portfolio of land and building rights for approximately 2,400 homes, strengthening the Group’s position in the Dutch residential development market.

The agreed purchase consideration consists of a fixed amount of €62 million and a limited contingent consideration component, the outcome of which depends on future events. Completion of the business combination is subject to approval by the Dutch Authority for Consumers and Markets (ACM) under the Dutch Competition Decree.

As the agreement was concluded after the reporting date, the transaction is classified as a non‑adjusting event. Therefore, no adjustments have been made to the consolidated financial statements as at 31 December 2025. The Group will recognise the identifiable assets, liabilities and goodwill upon completion in accordance with IFRS 3.