Independent Investment Research, The IDEA!

The IDEA!

Independent Investment Research

The Idea-Driven Equities Analyses company (the IDEA!) is an employee-owned boutique providing independent investment research and financial consultancy services with a clear focus on the Benelux countries. The company was founded in the summer of 2007 by Henk Slotboom and Maarten Verbeek, both with more than 35 years of professional experience in the financial sector. The IDEA! differentiates itself by focusing on adding value through self-initiated in-depth, idea-driven investment research, as well as by bespoke research assignments for institutional investors, hedge funds and private equity. In addition, we provide market intelligence, strategic research and – together with our business partners – consultancy services to businesses. In case you are interested in receiving more information, a sample of our products or an introductory meeting, please send a message to info@theidea.nl.

Equity Bottom-Up

<ul><li>In this edition: • Unilever | rumored to bid for supplement maker Thorne • IMCD | to acquire Merit Solution • Arcadis | enters into a strategic partnership with Stok • SBM Offshore | completes USD 465m financing of FSO Chalchi • Alfen | CFO Onno Krap to step down per 1 July</li></ul>

In this edition: • Unilever | rumored to bid for supplement maker Thorne • IMCD | to acquire Merit Solution • Arcadis | enters into a strategic partnership with Stok • SBM Offshore | completes USD 465m financing of FSO Chalchi • Alfen | CFO Onno Krap to step down per 1 July

What's New(s) in Amsterdam - 29 June (Unilever | IMCD | Arcadis | SBM Offshore | Alfen)

<ul><li>In this edition: • ABN Amro | 4Q25 falls short of market expectations • Ahold Delhaize | solid finish of the year in a challenging environment • BE Semiconductor Industries and peers | Amkor expects to threefold capital expenditure • Randstad | proposes its floor dividend of EUR 1.62 – trades at an attractive – virtually guaranteed – dividend yield of 5.3% • Alfen | to strategically reposition the company for profitable growth • PostNL | Jumbo allows the deployment of APMs in 100 additional stores</li></ul>

In this edition: • ABN Amro | 4Q25 falls short of market expectations • Ahold Delhaize | solid finish of the year in a challenging environment • BE Semiconductor Industries and peers | Amkor expects to threefold capital expenditure • Randstad | proposes its floor dividend of EUR 1.62 – trades at an attractive – virtually guaranteed – dividend yield of 5.3% • Alfen | to strategically reposition the company for profitable growth • PostNL | Jumbo allows the deployment of APMs in 100 additional stores

Alfen Beheer BV - What's New(s) in Amsterdam

<ul><li>In this edition: • ABN Amro | significant risk transfer transaction with Blackstone • AkzoNobel | closing of the Akzo Nobel India deal with JSW • TKH Group - Alfen | EU presents European Grids Package • E-commerce & Logistics | European Commission has raided the EU offices of Temu • Dutch politics | coalition talks between D66, CDA and VVD with 30 January deadline</li></ul>

In this edition: • ABN Amro | significant risk transfer transaction with Blackstone • AkzoNobel | closing of the Akzo Nobel India deal with JSW • TKH Group - Alfen | EU presents European Grids Package • E-commerce & Logistics | European Commission has raided the EU offices of Temu • Dutch politics | coalition talks between D66, CDA and VVD with 30 January deadline

<ul><li>In this edition: • ABN Amro Bank | NIBC up for sale again • Alfen | Compleo and Plug Me In exit UK EV charging market</li></ul>

In this edition: • ABN Amro Bank | NIBC up for sale again • Alfen | Compleo and Plug Me In exit UK EV charging market

What's New(s) in Amsterdam - 19 September (ABN Amro Bank | Alfen)

<ul><li>In today's edition: • Aegon | 1H25 OCG looks a bit light; review to relocate legal domicile and head office to US • a.s.r. Nederland | post earnings call comment • dsm-firmenich | in exclusive talks with CVC on its AHN division; may keep minority stake • Alfen | reiterates FY25 guidance, however, revises FY26 ambition downward • bpostgroup | temporarily suspends individual parcel shipments to the US</li></ul>

In today's edition: • Aegon | 1H25 OCG looks a bit light; review to relocate legal domicile and head office to US • a.s.r. Nederland | post earnings call comment • dsm-firmenich | in exclusive talks with CVC on its AHN division; may keep minority stake • Alfen | reiterates FY25 guidance, however, revises FY26 ambition downward • bpostgroup | temporarily suspends individual parcel shipments to the US

What's News in Amsterdam - 21 August (Aegon | a.s.r. Nederland | dsm-firmenich | Alfen | bpostgroup)

Netherlands

Alfen Beheer B.V. provides energy equipment and solutions. The Company offers transformer substations, energy storage systems, and charging stations for electric vehicles, as well as specializes in grid automation, management and maintenance, and energy solutions. Alfen Beheer serves greenhouse horticulture, grid operators, and energy markets in Europe.

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Alfen (ALFEN NA)

What's New(s) in Amsterdam - 29 June (Unilever | IMCD | Arcadis | SBM Offshore | Alfen)

In this edition: • Unilever | rumored to bid for supplement maker Thorne • IMCD | to acquire Merit Solution • Arcadis | enters into a strategic...

The IDEA!

Alfen Beheer BV - What's New(s) in Amsterdam

In this edition: • ABN Amro | 4Q25 falls short of market expectations • Ahold Delhaize | solid finish of the year in a challenging...

The IDEA!

Alfen Beheer BV - What's New(s) in Amsterdam

In this edition: • ABN Amro | significant risk transfer transaction with Blackstone • AkzoNobel | closing of the Akzo Nobel India deal with...

The IDEA!

What's New(s) in Amsterdam - 19 September (ABN Amro Bank | Alfen)

In this edition: • ABN Amro Bank | NIBC up for sale again • Alfen | Compleo and Plug Me In exit UK EV charging market

The IDEA!

What's News in Amsterdam - 21 August (Aegon | a.s.r. Nederland | dsm-firmenich | Alfen | bpostgroup)

In today's edition: • Aegon | 1H25 OCG looks a bit light; review to relocate legal domicile and head office to US • a.s.r. Nederland | post...

The IDEA!

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