Related Party Transactions

Key management personnel

On March 6, 2026, the members of the Executive Committee were offered new subscription rights under the Subscription Right Plan 2026, which have all been accepted in full. The subscription rights have an exercise term of eight years as of the date of the notarial deed enacting the acceptance of the subscription rights. The exercise price of the subscription rights is €28.82 (the closing price of the Lakefront share on Euronext Brussels and Amsterdam on the date preceding the offer). Each subscription right gives the right to subscribe for one new Lakefront share. The subscription rights are subject to a 3-year cliff vesting schedule and can in principle not be exercised prior to March 6, 2029.

On March 6, 2026, the members of the Executive Committee were offered new restricted stock units (“RSUs”) under the Lakefront 2026 Restricted Stock Units/Long-Term Incentive Plan (“2026 RSU LTIP Plan”). The RSUs were offered for no consideration. Each RSU represents the right to receive, at Lakefront’s discretion, one Lakefront share or a payment in cash of an amount equivalent to the volume-weighted average price of the Lakefront share on Euronext Brussels over the 30-calendar day period preceding the relevant vesting date. The RSUs granted under the 2026 RSU LTIP Plan are subject to a 4-year phased vesting schedule, whereby 25% of the RSUs granted will vest on each anniversary date of the date of the grant.

On March 6, 2026, the members of the Executive Committee were offered new performance stock units (“PSUs”) under the Lakefront 2026 Performance Stock Units/Long-Term Incentive Plan (“2026 PSU LTIP Plan”). The PSUs were offered for no consideration, but the vesting of the PSUs is subject to meeting certain performance criteria as determined in the 2026 PSU LTIP Plan. Each PSU represents the right to receive, at Lakefront’s discretion, one Lakefront share or a payment in cash of an amount equivalent to the volume-weighted average price of the Lakefront share on Euronext Brussels over the 30-calendar day period preceding the relevant vesting date. The PSUs granted under the 2026 PSU LTIP Plan are subject to a 3-year cliff vesting schedule in a range from 0% to 150% and can in principle not vest prior to March 6, 2029.

On April 28, 2026, we held our Annual Shareholders’ Meeting (“AGM”). The AGM approved the appointment of Mr. Henry Gosebruch as Executive Director for an additional period of four years, the appointment of Dr. Jane Griffiths as independent non-executive director for an additional period of four years, the appointment of Ms. Dawn Svoronos as independent non-executive director for an additional period of four years, the appointment of Dr. Neil Johnston as independent non-executive director for an additional period of two years, the appointment of Mr. Devang Bhuva as non-executive director for an additional period of three years, the appointment of Dr. Paulo Fontoura as independent non-executive director for an additional period of three years, the appointment of Mr. Gino Santini as independent non-executive director for an additional period of four years. Mr. Gino Santini was also appointed as the new Chair of the Board of Directors.

The table below sets forth the number of subscription rights offered and accepted under Subscription Right Plan 2026, the number of RSUs and PSUs offered to each member of the Executive Committee during the first six months of 2026:

During the first six months of 2026, other than as disclosed in the paragraph above there were no changes to related party transactions disclosed in the 2025 annual report that potentially had a material impact on our financials of the first six months of 2026.