Warehouses De Pauw : Publication of a transparency notification

PRESS RELEASE

2 April 2026, 18:00 CET

Regulated Information

Publication of a transparency notification

(Article 14, first paragraph, of the law of 2 May 2007 regarding the disclosure of major holdings)

WDP announces having received three transparency notifications from BNP Paribas Asset Management Holding reporting an overshoot of the 3% participation threshold in respect of voting rights attached to shares as at 18 March 2026, at 23 March 2026 and at 25 March 2026.

The aggregate percentage held by BNP Paribas Asset Management Holding (securities conferring voting rights and voting rights through equivalent financial instruments) amounts to 3.02%.

This press release, the notifications as well as the shareholder structure can be consulted on the website of WDP.

ISIN-code: BE0003763779

The transparency notification for the transaction on 18 March 2026 contains the following information:

• Reason for the notification: acquisition or disposal of voting securities or voting rights

• Notification by: a parent undertaking or a controlling person

• Person(s) subject to the notification requirement:

  Name (and legal form for legal persons) Address (for legal persons)

  BNP Paribas Cardif 1 Boulevard Haussmann 75009, Paris BNP Paribas Asset Management Holding 1 Boulevard Haussmann 75009, Paris

• Date on which the threshold is crossed: 18 March 2026

• Threshold that is crossed: 3%

• Denominator: 235,139,589

• Details of the notification:

  A) Voting rights	Previous notification		After the transaction
  	# voting rights	# voting	rights % voting	rights
  		Linked to	Not linked to Linked to	Not linked to
  Holders of voting rights		securities	securities securities	securities
  BNP Paribas Cardif		0	0.00%
  BNP Paribas Asset Management Holding	0	0	0.00%
  AXA Investment Managers UK
  Limited	327,054	51,115	0.02%
  BNP Paribas Asset
  Management Europe SAS	287,286	5,434,013	2.31%
  BNP Paribas Real Estate
  Investment Management France		1,597,561	0.68%
  Total	614,340	7,082,689	0 3.01%	0.00%

  B) Equivalent financial instruments	After the transaction # of voting rights that may be acquired if
  Holders of equivalent financial	Type of financial	Expiration	Exercise period or	the instrument	% of voting
  instruments	instrument	date	date	is exercised	rights Settlement
  Total				0	0.00%
  Total (A&B)				# of voting rights	% of voting rights
  				7,082,689	3.01%

• Full chain of controlled undertakings through which the holding is effectively held (if applicable): The subsidiaries BNP Paribas Asset Management Europe SAS, BNP Paribas Real Estate Investment Management France and AXA Investment Managers UK Limited are controlled by the parent company BNP Paribas Asset Management Holding. This parent company is in turn controlled by BNP Paribas Cardif, which is itself controlled by BNP Paribas SA. BNP Paribas SA benefits from an exemption from aggregating its shareholdings with those of its subsidiaries that qualify as investment firms, in accordance with Article 21, paragraph 2 of the RD of 14 February 2008 on the disclosure of major shareholdings.

• Additional information: The subsidiaries BNP Paribas Asset Management Europe SAS, AXA Investment Managers UK Limited and BNP Paribas Real Estate Investment Management France are investment firms that exercise voting rights on a discretionary basis in the absence of specific instructions.

  Following the previous notification relating to the downward crossing of the 3% threshold on 28 March 2017, the total holding of BNP Paribas Investment Partners SA (now BNP Paribas Asset Management Holding) was structured as follows:

  • The subsidiary THEAM SAS (holding 120,537 voting rights) was absorbed by BNP Paribas Asset Management SAS.

  • The subsidiary BNP Paribas Asset Management SAS (holding 166,749 voting rights) became BNP Paribas Asset Management France SAS, which subsequently became BNP Paribas Asset Management Europe SAS.

  • The subsidiary BNP Paribas Investment Partners UK Ltd (holding 327,054 voting rights) became BNP Paribas Asset Management UK. Following the merger between BNP Paribas Asset Management and AXA Investment Managers, the activities of BNP Paribas Asset Management UK were transferred to AXA Investment Managers UK Limited as of 1 January 2026.

    The transparency notification for the transaction on 23 March 2026 contains the following information:

• Reason for the notification: acquisition or disposal of voting securities or voting rights

• Notification by: a parent undertaking or a controlling person

• Person(s) subject to the notification requirement:

  Name (and legal form for legal persons) Address (for legal persons)

  BNP Paribas Cardif 1 Boulevard Haussmann 75009, Paris BNP Paribas Asset Management Holding 1 Boulevard Haussmann 75009, Paris

• Date on which the threshold is crossed: 23 March 2026

• Threshold that is crossed: 3%

• Denominator: 235,139,589

• Details of the notification:

  A) Voting rights	Previous notification		After the transaction
  	# voting rights	# voting	rights % voting	rights
  		Linked to	Not linked to Linked to	Not linked to
  Holders of voting rights		securities	securities securities	securities
  BNP Paribas Cardif	0	0	0.00%
  BNP Paribas Asset Management Holding	0	0	0.00%
  AXA Investment Managers UK
  Limited	51,115	51,115	0.02%
  BNP Paribas Asset
  Management Europe SAS	5,434,013	5,455,041	2.32%
  BNP Paribas Real Estate
  Investment Management France	1,597,561	1,597,561	0.68%
  Total	7,082,689	7,103,717	0 3.02%	0.00%

  B) Equivalent financial instruments	After the transaction # of voting rights that may be acquired if
  Holders of equivalent financial	Type of financial	Expiration	Exercise period or	the instrument	% of voting
  instruments	instrument	date	date	is exercised	rights Settlement
  Total				0	0.00%
  Total (A&B)				# of voting rights	% of voting rights
  				7,103,717	3.02%

• Full chain of controlled undertakings through which the holding is effectively held (if applicable): The subsidiaries BNP Paribas Asset Management Europe SAS, BNP Paribas Real Estate Investment Management France and AXA Investment Managers UK Limited are controlled by the parent company BNP Paribas Asset Management Holding. This parent company is in turn controlled by BNP Paribas Cardif, which is itself controlled by BNP Paribas SA. BNP Paribas SA benefits from an exemption from aggregating its shareholdings with those of its subsidiaries that qualify as investment firms, in accordance with Article 21, paragraph 2 of the RD of 14 February 2008 on the disclosure of major shareholdings.

• Additional information: The subsidiaries BNP Paribas Asset Management Europe SAS, AXA Investment Managers UK Limited and BNP Paribas Real Estate Investment Management France are investment firms that exercise voting rights on a discretionary basis in the absence of specific instructions. As at 20/03/2026, following a transfer of voting rights by the subsidiary BNP Paribas Asset Management Europe SAS, the total participation of the group fell below the 3% threshold.