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: • Aegon | starts new EUR 200m share buyback today • AkzoNobel | Axalta EGM scheduled for 5 August • InPost / CTT Correos | Colis Privé intends to buy the Iberian and French operations of Paack • Shell | LNG market outlook: resilience amid ST shocks; strong LT fundamentals • Shell | divests Gulf of America assets for USD 1.7bn • Basic-Fit | intends to acquire wellyou • Alfen | appoints Bart Meussen as interim CFO • Dutch retail sales | up 2.9% YoY in value; up 2.3% YoY in volume terms in May • E-commerce & Logistics | France to introduce progressive surcharge on ultrafast fashion</li></ul>

In this edition: • Aegon | starts new EUR 200m share buyback today • AkzoNobel | Axalta EGM scheduled for 5 August • InPost / CTT Correos | Colis Privé intends to buy the Iberian and French operations of Paack • Shell | LNG market outlook: resilience amid ST shocks; strong LT fundamentals • Shell | divests Gulf of America assets for USD 1.7bn • Basic-Fit | intends to acquire wellyou • Alfen | appoints Bart Meussen as interim CFO • Dutch retail sales | up 2.9% YoY in value; up 2.3% YoY in volume terms in May • E-commerce & Logistics | France to introduce progressive surcharge on ultrafast fashion

Sligro Food Group NV - What's News in Amsterdam

<ul><li>In this edition: • AkzoNobel | beats consensus estimates thanks to strong quarter for Deco • ASM International | 26Q1 results clear beat against market consensus – FY26 revenue guidance markedly ahead of market consensus • Basic-Fit | set ROCE goal of low- to mid-teen in the medium term • Corbion | reiterates FY26 guidance on all forecasted metrics • Randstad | records positive organic growth after 12 quarters of decline • Dutch consumer confidence | second largest drop on record since 2020</li></ul>

In this edition: • AkzoNobel | beats consensus estimates thanks to strong quarter for Deco • ASM International | 26Q1 results clear beat against market consensus – FY26 revenue guidance markedly ahead of market consensus • Basic-Fit | set ROCE goal of low- to mid-teen in the medium term • Corbion | reiterates FY26 guidance on all forecasted metrics • Randstad | records positive organic growth after 12 quarters of decline • Dutch consumer confidence | second largest drop on record since 2020

ASM International NV - What's New(s) in Amsterdam

<ul><li>In this edition: • ING | aiming for a more active role on the insurance market • SBM Offshore | selected to construct two SEAP FPSOs under the BOT model by Petrobras • InPost / PostNL | Nova Post enters partnership with Vinted in the Netherlands • Basic-Fit | raises of EUR 307.6m offering convertible bonds due 2031 • D’Ieteren / Belron | Belron preparing for IPO in Amsterdam • Dutch economy | CPB reduces GDP growth forecast and increases inflation estimates • Dutch housing market | average selling price existing home down 2.7% QoQ but up 2.7% YoY</li></ul>

In this edition: • ING | aiming for a more active role on the insurance market • SBM Offshore | selected to construct two SEAP FPSOs under the BOT model by Petrobras • InPost / PostNL | Nova Post enters partnership with Vinted in the Netherlands • Basic-Fit | raises of EUR 307.6m offering convertible bonds due 2031 • D’Ieteren / Belron | Belron preparing for IPO in Amsterdam • Dutch economy | CPB reduces GDP growth forecast and increases inflation estimates • Dutch housing market | average selling price existing home down 2.7% QoQ but up 2.7% YoY

<ul><li>In this edition: • AkzoNobel | PPG reports better than expected 1Q26; up to 20% increase in selling prices • Basic-Fit | strong start of the year – increase EBITDA outlook reflecting France 24/7 development • Basic-Fit | received approval to operate staffless 24/7 clubs in France • PostNL | to retain its monopoly on the USO • Sligro Food Group | mixed start of the year; no guidance for 1H26 • TomTom | clear beat in profitability driven by lower operating expenses – reiterates FY26 outlook</li></ul>

In this edition: • AkzoNobel | PPG reports better than expected 1Q26; up to 20% increase in selling prices • Basic-Fit | strong start of the year – increase EBITDA outlook reflecting France 24/7 development • Basic-Fit | received approval to operate staffless 24/7 clubs in France • PostNL | to retain its monopoly on the USO • Sligro Food Group | mixed start of the year; no guidance for 1H26 • TomTom | clear beat in profitability driven by lower operating expenses – reiterates FY26 outlook

What's News in Amsterdam - 16 April (AkzoNobel | Basic-Fit | PostNL | Sligro Food Group | TomTom)

<ul><li>In this edition: • InPost / Allegro | e-commerce spending in Poland off to a slow start • Basic-Fit | unauthorized data access to members’ records • PostNL | dwell times in OOH channel: an opportunity for PostNL’s ‘Best Day’ initiative?</li></ul>

In this edition: • InPost / Allegro | e-commerce spending in Poland off to a slow start • Basic-Fit | unauthorized data access to members’ records • PostNL | dwell times in OOH channel: an opportunity for PostNL’s ‘Best Day’ initiative?

What's New(s) in Amsterdam - 14 April (InPost / Allegro | Basic-Fit | PostNL)

Netherlands

Basic-Fit N.V. operates health and fitness clubs. The Company offers gyms, spa, group lessons, and health counseling services. Basic-Fit conducts business in the Netherlands, Belgium, Luxembourg, France, and Spain.

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Basic-Fit (BFIT NA)

Sligro Food Group NV - What's News in Amsterdam

In this edition: • Aegon | starts new EUR 200m share buyback today • AkzoNobel | Axalta EGM scheduled for 5 August • InPost / CTT Correos | Colis...

The IDEA!

ASM International NV - What's New(s) in Amsterdam

In this edition: • AkzoNobel | beats consensus estimates thanks to strong quarter for Deco • ASM International | 26Q1 results clear beat against...

The IDEA!

Sligro Food Group NV - What's News in Amsterdam

In this edition: • ING | aiming for a more active role on the insurance market • SBM Offshore | selected to construct two SEAP FPSOs under the BOT...

The IDEA!

What's News in Amsterdam - 16 April (AkzoNobel | Basic-Fit | PostNL | Sligro Food Group | TomTom)

In this edition: • AkzoNobel | PPG reports better than expected 1Q26; up to 20% increase in selling prices • Basic-Fit | strong start of the year...

The IDEA!

What's New(s) in Amsterdam - 14 April (InPost / Allegro | Basic-Fit | PostNL)

In this edition: • InPost / Allegro | e-commerce spending in Poland off to a slow start • Basic-Fit | unauthorized data access to members’...

The IDEA!

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