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

United Parcel Service Cl B / Equity Bottom-Up

<ul><li>We issued a company report (10 pages) featuring InPost.</li><li> Summary & Conclusions A consortium comprising FedEx (37%), Advent (37%), A&R Investment (16%), and PPF (10%) has launched an all-cash offer of EUR 15.60 per share for 100% of InPost, valuing its shares at ~EUR 7.8 bn.</li><li>This represents a 50% premium to the undisturbed share price on 2 January 2026 and 53% above the three-month VWAP.</li></ul>

We issued a company report (10 pages) featuring InPost. Summary & Conclusions A consortium comprising FedEx (37%), Advent (37%), A&R Investment (16%), and PPF (10%) has launched an all-cash offer of EUR 15.60 per share for 100% of InPost, valuing its shares at ~EUR 7.8 bn.This represents a 50% premium to the undisturbed share price on 2 January 2026 and 53% above the three-month VWAP.

United Parcel Service Cl B - Company Report: InPost | This (Fed)Exit Deserves A Better Price

<ul><li>In this edition: • Basic-Fit | trading update shows strong trends in 4Q25 and early 2026 • PostNL | Křetínský’s EP Holding makes offer for majority stake in Fnac Darty • Sif Holding | North Sea countries want 100 GW of joint offshore wind projects • Allegro | Polish core retail sales growth at highest level since early 2023 in 2H25 • E-commerce & Logistics | Italy’s unilateral handling fee on non-EU parcels: a costly mistake</li></ul>

In this edition: • Basic-Fit | trading update shows strong trends in 4Q25 and early 2026 • PostNL | Křetínský’s EP Holding makes offer for majority stake in Fnac Darty • Sif Holding | North Sea countries want 100 GW of joint offshore wind projects • Allegro | Polish core retail sales growth at highest level since early 2023 in 2H25 • E-commerce & Logistics | Italy’s unilateral handling fee on non-EU parcels: a costly mistake

Deutsche Post AG - What's News in Amsterdam

Event-Driven

<ul>
<li>InPost’s disclosure that it has received an indicative proposal for the acquisition of all outstanding shares has materially increased the likelihood of a take-private transaction.</li>
<li>While the company initially provided no details, subsequent reporting by Bloomberg strongly supports the scenario outlined in our earlier analysis.</li>
<li>Strategically, a take-private makes sense.</li>
</ul>


InPost’s disclosure that it has received an indicative proposal for the acquisition of all outstanding shares has materially increased the likelihood of a take-private transaction.
While the company initially provided no details, subsequent reporting by Bloomberg strongly supports the scenario outlined in our earlier analysis.
Strategically, a take-private makes sense.


InPost | Coming Back to the Nest? (Part II)

<ul>
<li>We issued a company report (11 pages) featuring InPost.</li>
<li>InPost received an indicative proposal for a potential acquisition of all shares.</li>
<li>The company will evaluate the proposal, ensuring the interests of the company and all stakeholders are considered.</li>
</ul>


We issued a company report (11 pages) featuring InPost.
InPost received an indicative proposal for a potential acquisition of all shares.
The company will evaluate the proposal, ensuring the interests of the company and all stakeholders are considered.


<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

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

Poland

Allegro.eu SA operates shopping e-commerce platform. The Company offers products in categories such as automotive, fashion, home and garden, electronics, books and collectibles, and health and beauty. Allegro.eu serves customers in Europe.

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Allegro.eu (ALE PW)

United Parcel Service Cl B - Company Report: InPost | This (Fed)Exit Deserves A Better Price

We issued a company report (10 pages) featuring InPost. Summary & Conclusions A consortium comprising FedEx (37%), Advent (37%), A&R...

The IDEA!

Deutsche Post AG - What's News in Amsterdam

In this edition: • Basic-Fit | trading update shows strong trends in 4Q25 and early 2026 • PostNL | Křetínský’s EP Holding makes offer for...

The IDEA!

InPost | Coming Back to the Nest? (Part II)

We issued a follow-up report (5 pages) featuring InPost. IWe issued a follow-up report (5 pages) featuring InPost. Earlier this week, we...

The IDEA!

InPost | Coming Back to the Nest?

We issued a company report (11 pages) featuring InPost. InPost received an indicative proposal for a potential acquisition of all shares. The...

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!

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