VGP NV: Trading Update

VGP NV (‘VGP’ or ‘the Group’) today published its trading update for the first ten months of ‘26:

• Annualised committed leases surpassed the € 500 million milestone, reaching € 500.8 million¹ following the signing of € 85.9 million, or 1.1 million sqm in new and renewed leases during the first ten months of 2026, including € 33.2 million in the past four months. This represents an increase of € 32.5 million since 31 December 2025, or +6.9% year to date and +9% year on year.
• 43 projects under construction representing 1,071,000 sqm (of which 18 projects totalling 409,000 sqm started up during the year) and € 80 million in additional annual rent once fully built and let. Additionally, reflecting sustained tenant demand, the group has already pre-let commitments on 249,000 square meters of to be developed assets, which are to date 82% pre-let. The total pre-let pipeline is 74% pre-let² as of 31 October ’26.
• 18 projects delivered during first ten months representing 399,000 sqm, or € 32.9 million in additional annual rent (of which 6 projects totalling 163,000 sqm delivered since the 1^st of July 2026), currently 87% let. Furthermore, 33% of the completed buildings were certified with the BREEAM Outstanding label, or similar (DGNB certification for Germany).
• Total owned and committed development land bank stands at 10.0 million sqm at the end of October 2026 representing a development potential of more than 4.1 million sqm. The Group takes a selective approach in securing further commitments on land acquisitions.
• Property portfolio³ virtually fully let with occupancy at 98% as of 31 October 2026 (compared to 98% as at 30 June 2026). Of the € 500.8 million committed annualised rental income, € 425.0 million has become cash generative, an increase of 9% versus December 2025. Another € 49.9 million of rental income is expected to start within the next twelve months.
• Installed renewable energy capacity up 25% YoY to 226.0 MW, with 202.5 MW under construction or permitting (+75%) and 181.8 MW in the pipeline, a 610.3 MW platform.
• Numerous initiatives are strengthening VGP’s balance sheet and supporting further growth:
  • Joint venture distributions of approximately € 80 million are expected in 2026;
  • VGP is set to close over € 450 million of joint-venture transactions in Q4 2026, being the final building of the Third Joint Venture (Ymir), c. € 150 million of gross asset value, and a fourth closing of c. € 300 million for the Saga I Joint Venture in December 2026. Further Saga I closings follow in 2027 as the assets are delivered; the joint venture is expected to be fully allocated by the end of 2027, as such enabling the launch of Saga II.
  • A promote payment of € 18.4 million was received in July 2026, following a + 12% net - IRR performance in the First Joint Venture (Rheingold);
  • Good progress continues on establishing East Capital and the Data Centre Joint Venture, targeting material closings with all ventures in ‘27;
  • Fitch and S&P Global Ratings have reaffirmed VGP’s investment-grade ratings, both with a stable outlook.

FOR FULL PRESS RELEASE PLEASE REFER TO THE ATTACHED DOCUMENT

CONTACT DETAILS FOR INVESTORS AND MEDIA ENQUIRIES

INVESTOR RELATIONS CALENDAR 2027

Forward-looking statements: This press release may contain forward-looking statements. Such statements reflect the current views of management regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. VGP is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release considering new information, future events or otherwise. The information in this announcement does not constitute an offer to sell or an invitation to buy securities in VGP or an invitation or inducement to engage in any other investment activities. VGP disclaims any liability for statements made or published by third parties and does not undertake any obligation to correct inaccurate data, information, conclusions or opinions published by third parties in relation to this or any other press release issued by VGP.

ABOUT VGP 

VGP is a pan-European owner, manager and developer of high-quality logistics and semi-industrial properties as well as a provider of renewable energy solutions. VGP has a fully integrated business model with extensive expertise and many years of experience along the entire value chain. VGP was founded in 1998 as a family-owned Belgian property developer in the Czech Republic and today operates with around 452 full-time employees in 18 European countries directly and through several 50:50 joint ventures. In June 2026, the gross asset value of VGP, including the 100% joint ventures, amounted to € 9.2 billion and the company had a net asset value (EPRA NTA) of € 2.9 billion. VGP is listed on Euronext Brussels (ISIN: BE0003878957).

For more information, please visit: http://www.vgpparks.eu

¹ Including Joint Ventures at 100%. The Annualised committed leases in the Joint Ventures amounts to € 328.2 million and in the own portfolio € 172.5 million.
² Includes pre-lets on development land. Pre-let of the pipeline under construction is 72% pre-let.
³ Including Joint Ventures at 100%.

Attachment

• 2026.11.05_VGP - Trading update November 2026 (EN)