Disclosure of treasury shares transactions carried out from September 21 to September 25, 2026
Attachment
Month: September 2026
COMPANY ANNOUNCEMENT NO 51/2026 – September 29, 2026
On August 17, 2026, Royal Unibrew announced a share buy-back program, cf. company announcement no. 44/2026.
The share buy-back program will be executed under EU Commission Regulation No. 596/2014 of the European Parliament and Council of April 16, 2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052 (the “Safe Harbour Regulation”).
The share buy-back program is expected to be realized in the period from August 18, 2026, to December 8, 2026. The total transaction value of the share buy-backs in the period will not exceed DKK 300m.
The following transactions have been made under the program:
| Number of Shares |
Average purchase price DKK | Transaction value, DKK | |
| Accumulated, last announcement | 215,848 | 425.50 | 91,844,054 |
| September 21, 2026 | 8,817 | 412.47 | 3,636,757 |
| September 22, 2026 | 8,000 | 417.94 | 3,343,511 |
| September 23, 2026 | 8,000 | 419.81 | 3,358,451 |
| September 24, 2026 | 8,000 | 419.45 | 3,355,598 |
| September 25, 2026 | 8,000 | 416.55 | 3,332,405 |
| Total accumulated under the program | 256,665 | 424.17 | 108,870,776 |
With the transactions stated above Royal Unibrew owns a total of 2,039,253 shares, corresponding to 4.1% of the share capital. The total amount of shares in the company is 49,300,000, including treasury shares.
For further information please contact:
Flemming Ole Nielsen (Head of Investor Relations)
E-mail: Flemming.Nielsen@royalunibrew.com
Telephone: +45 25 41 68 04
Encl.
Attachments
PRESS RELEASE
AB SCIENCE PROVIDES AN UPDATE ON ITS DEVELOPMENT PLAN AND FINANCIAL CALENDAR FOLLOWING A SPONSOR GOOD CLINICAL PRACTICE INSPECTION
- Confirmation of the relevance of having, among the first decisions of the new management, given priority to the development of a new quality management system
- Expected resumption of the AB8939 phase 1 (acute myeloid leukemia) in the first quarter of 2027, followed by the masitinib phase 3 (amyotrophic lateral sclerosis) in the last quarter of 2027, subject to assessment by the health authorities
- Masitinib program in sickle cell disease not affected
- Half-year financial report to be published by October 9, 2026 at the latest, outlining the Company’s new ambitions, followed by a webcast
Paris, September 29, 2026, 8am CET
AB Science S.A. (the “Company” or “AB Science”, Euronext – FR0010557264 – AB) today announces a revision of its operating plan and financial calendar following a “for cause” sponsor Good Clinical Practice (GCP) inspection, conducted from September 21 to 25 and involving five inspectors from three health authorities: France, Denmark and Greece.
The inspection report will be sent to the Company before the end of the year, and the Company will inform the market of any consequences for its development plan.
The preliminary findings brought to its attention at the close of the inspection support the new management in its decision to have given priority:
- to overhauling the quality management system, , initiated as early as 13 July 2026, in order to guarantee patient safety and ensure the robustness of the data generated by the studies conducted by the Company, and, as a result, their value;
- to reassessing the clinical trial protocols, giving priority to scientific merit over financial constraints.
- Development plan
In addition, on the basis of these preliminary findings, AB Science considers that its development plan will need to be adapted as follows:
- Step 1: Continue and complete the implementation of the new quality management system and carry out an external audit of this system before considering the resumption of new clinical studies. The Company expects to complete this work by the end of 2026 and will communicate on the subject at the beginning of fiscal year 2027.
- Step 2: Resumption of the phase 1 study in acute myeloid leukemia (compound AB8939) within the framework of this new quality assurance system, in order to demonstrate that AB Science is now able to produce clinical data that are sufficiently reliable to meet the requirements of the applicable standards, and to support its partnering efforts. AB8939 has generated encouraging activity results and remains a priority development focus for the Company. AB Science expects to be able to resume this study in early 2027, subject to a positive benefit-risk assessment by the health authorities, and will be able to confirm this timeline only on the basis of the final inspection report and the responses provided by the Company.
- Step 3: Resumption of the phase 3 study in amyotrophic lateral sclerosis (ALS) (compound masitinib) following a new inspection. AB Science plans to be able to resume this study in the fourth quarter of 2027, subject to a positive benefit-risk assessment by the health authorities, and will be able to confirm this timeline only on the basis of the final inspection report and the responses provided by the Company.
AB Science intends to use this delay relative to its initial timeline to consolidate its development plan.
- AB8939 program: a review is under way to optimize the design of step 4 of the phase 1 based on the available pharmacological and clinical data. The optimization concerns the choice of treatments combined with AB8939 as well as the patients to be included in this step.
- ALS program: a review is under way to enrich the design of the phase 3 ALS study, notably via the integration of biomarkers and their pre-specification in the study’s statistical analysis plan.
In addition, the collaborative masitinib program in sickle cell disease, of which Assistance Publique – Hôpitaux de Paris (AP-HP) is the sponsor, is not affected and should begin during the 1st quarter of 2027, following the Company’s renewed guarantee to supply the masitinib needed to carry out this study.
Stéphane Ledermann, Chairman and Chief Executive Officer of AB Science, states: “I have no doubt about the signs of efficacy of our molecules, nor about the skills of the Company’s employees to carry out our clinical development program successfully. Strict and consistent compliance with good clinical practice is at the heart of our project for AB Science, so that our clinical data are robust, recognized and valuable.”
- Financial reporting calendar
As a result of this inspection, which mobilized all of its employees, the Company will make its half-year financial report as of June 30, 2026 available by October 9, 2026 at the latest.
The outlines of the Company’s new ambitions will be announced concurrently with the publication of the half-year financial report. A webcast, including a question-and-answer session, will be held in the days following this publication. Connection details will be communicated at a later date.
About masitinib
Masitinib is a novel oral tyrosine kinase inhibitor that is being developed to target mast cells and macrophages, key immune cells, through inhibition of a limited number of kinases. Through its activity on mast cells and microglial cells and therefore its inhibitory effect on the activation of the inflammatory process, masitinib may have an effect on the course of central nervous system diseases.
About AB8939
AB8939 is a new synthetic microtubule-destabilizing drug candidate. Preclinical data suggests that AB8939 has broad anticancer activity, with a notable advantage over standard chemotherapies that target microtubules of being able to overcome P-glycoprotein (Pgp) and myeloperoxidase (MPO) mediated drug resistance. Development of drug resistance often restricts the clinical efficacy of microtubule-targeting chemotherapy drugs (for example, taxanes and vinca alkaloids); thus, AB8939 has the potential to be developed in numerous oncology indications.
About AB Science
Founded in 2001, AB Science is a pharmaceutical company specializing in the research, development and commercialization of protein kinase inhibitors (PKIs), a class of targeted proteins whose action are key in signaling pathways within cells. Our programs target only diseases with high unmet medical needs, often lethal with short term survival or rare or refractory to previous line of treatment. AB Science has developed a proprietary portfolio of molecules and the Company’s lead compound, masitinib, has already been registered for veterinary medicine and is being developed in human medicine primarily in neurological diseases,. The company is headquartered in Paris, France, and listed on Euronext Paris (ticker: AB). Further information is available on AB Science’s website: www.ab-science.com.
Forward-looking Statements – AB Science
This press release contains forward-looking statements. These statements are not historical facts. These statements include projections and estimates as well as the assumptions on which they are based, statements based on projects, objectives, intentions, and expectations regarding financial results, events, operations, future services, product development, and their potential or future performance.
These forward-looking statements can often be identified by the words “expect”, “anticipate”, “believe”, “intend”, “estimate” or “plan” as well as other similar terms. While AB Science believes these forward-looking statements are reasonable, investors are cautioned that these forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict and generally beyond the control of AB Science, which may imply that results and actual events significantly differ from those expressed, induced, or anticipated in the forward-looking information and statements. These risks and uncertainties include uncertainties related to the product development of the Company, which may not be successful, or to the marketing authorizations granted by competent authorities, or, more generally, any factors that may affect the marketing capacity of the products developed by AB Science, as well as those developed or identified in the public documents published by AB Science. AB Science disclaims any obligation or undertaking to update forward-looking information and statements, subject to the applicable regulations, in particular articles 223-1 et seq. of the AMF General Regulations.
For additional information, please contact:
AB Science Financial communication and public relations
investors@ab-science.com
Attachment
Tryg will conduct pre-close analyst calls and meetings starting on 29 September, ahead of the Q3 2026 results, which will be released on 9 October 2026. This newsletter aims to inform capital market participants of the key factors influencing the company’s recent financial performance.
Insurance revenue growth
Tryg maintains a balanced distribution of insurance revenue across the Scandinavian countries, with approximately 50% of revenue generated in Denmark, 30% in Sweden, and 20% in Norway. In Q3 2025, Tryg reported insurance revenue of DKK 10,175m.
In the past few years, insurance revenue growth has mainly been driven by price adjustments to offset inflationary pressure. Price adjustments are tapering off following lower inflation levels, which is why Tryg is shifting its focus towards sustainable organic growth. Tryg is rapidly adjusting to this new environment, but lower price increases and the fact that new business takes time to earn through mean that revenue growth for the full year will be around 3% in local currencies. As revenue growth in H1 2026 was 3.4% measured in local currencies, local currency growth will be somewhat below 3% in H2 2026.
When converting earnings from local currencies to DKK, Tryg’s reporting currency, the expected average value of SEK 100 is DKK 67.6 (67.1 Q3 2025), and NOK 100 is DKK 67.8 (63.3 Q3 2025).
Claims environment
Underlying claims development
Tryg operates a stable business, and recent trends in underlying performance can therefore be considered reliable indicators for short-term developments. The Group’s underlying claims ratio was 67.0% in Q3 2025. At the capital markets day (CMD) on 4 December 2024, Tryg stated that it expects a broadly stable to slightly improving underlying performance in the new strategy period towards 2027.
In Q1 2026, the underlying claims ratio improved 40 basis points for both Group and the Private segment, while the underlying claims ratio improved by 50 basis for Group and 60 basis points for the Private segment in Q2 2026.
Weather and large claims
For Q3, normalised weather claims amount to 20% of the annual DKK 800m guidance, equating to DKK 160m. As a reminder, the annual expectation for weather claims is split as follows (in percentage terms): 40% in Q1, 10% in Q2, 20% in Q3 and 30% in Q4. On an annual basis, Tryg provides guidance for large claims amounting to DKK 800m, evenly distributed across quarters. Occasionally, information about large claims may be available in mass media or local press. At the time of writing, the sum of weather and large claims expectations remains broadly in line with the guidance for the third quarter of the year.
Interest rates development
For Q3, an approximate discount rate of 2.8% is expected. The discounting effect was reported at 2.7% in Q2 2026.
Run-off expectations towards 2027
At the 2024 CMD, Tryg stated a long-term run-off expectation of ~2% towards 2027.
Investment activities
Tryg has divided its investment activities into a match portfolio (approx. DKK 46bn at Q2 2026) and a free portfolio (approx. DKK 14bn as per Q2 2026). As announced at the 2024 CMD, the free portfolio was derisked during Q4 2024 and now mainly consists of Scandinavian covered bonds and government bonds (approx. DKK 12bn as per Q2 2026) and the real estate portfolio (approx. DKK 2.1bn as per Q2 2026, or pro forma around DKK 1.9bn at end-Q3 2026 following further exposure reduction in July 2026). The return on bonds can be modelled with the following Bloomberg tickers, 50% NYKRCMB2 and 50% NYKRCMG2. For the real estate portfolio, a normalised annual return of 6.5% is assumed.
The return of the match portfolio mainly consists of the return on premium provisions, which is expected to amount to approximately DKK 75m per quarter with the current level of interest rates.
Additionally, the line ‘Other financial income and expenses’ is guided at DKK -75m per quarter and mainly consists of costs related to currency and inflation hedges, general balance sheet items and expenses associated with running the investment operation.
Other income and costs
Other income and costs are originally guided between DKK -350m and DKK -370m on a quarterly basis. This is primarily driven by amortisation of intangibles related to the RSA Scandinavia acquisition. The intangibles are booked in SEK and converted to DKK (the reporting currency of Tryg). The SEK strengthening experienced since the 2024 CMD (while positive for the insurance service result and thus the overall Group result) impacts this line negatively, and therefore an additional FX-related impact of approx. DKK 15m should be added to the original guidance.
Solvency
As disclosed in the interim report for Q2 2026, in the beginning of July 2026 Tryg has further lowered its real estate exposure by approx. DKK 250m, reducing the solvency capital requirement by some DKK 25m in the third quarter of 2026, all else being equal.
Number of shares
At the end of Q2 2026, Tryg reported 595,867K outstanding shares. During Q3 2026, Tryg’s own shares position has not changed.
Financial outlook towards 2027
Tryg reported an insurance service result, adjusted for the more favourable-than-normal large and weather claims outcome, of around DKK 7.2bn in 2024 and it is now targeting an insurance service result of DKK 8.0-8.4bn in 2027 assuming interest rates and currency levels as at 4 December 2024 (CMD date) and guided large/weather claims. The insurance service result is expected to increase gradually on a normalised basis throughout the remainder of the strategy period, while recognising that 2026 will be an outlier in this trajectory due to the provision related to the workers’ compensation ruling in April 2026.
Tryg will publish the Group’s Q3 results for 2026 on 9 October 2026 at around 7:30 CEST.
Tryg will host a conference call on the day of the release at 10:00 CET. CEO Johan Kirstein Brammer, CFO Allan Kragh Thaysen, CTO Mikael Kärrsten and SVP Gianandrea Roberti will present the results in brief, followed by a Q&A session.
The conference call will be held in English.
Conference call details:
Danish participants: +45 78 76 84 90
UK participants: +44 203 769 6819
US participants: +1 646 787 0157
PIN: 560768
You can sign up for an e-mail reminder on tryg.com. The conference call will also be broadcast on this site. An on-demand version will be available shortly after the conference call has ended.
All Q3 2026 material can be downloaded at www.tryg.com shortly after the time of release.
Attachment
Progress on share buyback programme
ING announced today that, as part of our €1.0 billion share buyback programme announced on 30 April 2026, in total 1,300,000 shares were repurchased during the week of 21 September up to and including 25 September 2026.
The shares were repurchased at an average price of €31.93 for a total amount of €41,509,042.50. For detailed information on the daily repurchased shares, individual share purchase transactions and weekly reports, see the updates on the share buyback programme on our website.
In line with the purpose of the programme to reduce the share capital of ING, the total number of shares repurchased under this programme to date is 28,960,805 at an average price of €28.33 for a total consideration of €820,511,910.49. To date approximately 82.05% of the maximum total value of the share buyback programme has been completed.
Note for editors
For further information on ING, please visit www.ing.com. Frequent news updates can be found in the Newsroom. Photos of ING operations, buildings and its executives are available for download at Flickr.
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ING is a global financial institution with a strong European base, offering banking services through its operating company ING bank. The purpose of ING Bank is: empowering people to stay a step ahead in life and in business. ING Bank’s more than 60,000 employees offer retail and wholesale banking services to customers in over 100 countries.
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IMPORTANT LEGAL INFORMATION
Elements of this press release contain or may contain information about ING Groep N.V. and/ or ING Bank N.V. within the meaning of Article 7(1) to (4) of EU Regulation No 596/2014 (‘Market Abuse Regulation’).
ING Group’s annual accounts are prepared in accordance with International Financial Reporting Standards as adopted by the European Union (‘IFRS- EU’). In preparing the financial information in this document, except as described otherwise, the same accounting principles are applied as in the 2025 ING Group consolidated annual accounts. All figures in this document are unaudited. Small differences are possible in the tables due to rounding.
Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to a number of factors, including, without limitation: (1) changes in general economic conditions and customer behaviour, in particular economic conditions in ING’s core markets, including changes affecting currency exchange rates and the regional and global economic impact of the invasion of Russia into Ukraine and related international response measures (2) changes affecting interest rate levels (3) any default of a major market participant and related market disruption (4) changes in performance of financial markets, including in Europe and developing markets (5) fiscal uncertainty in Europe and the United States (6) discontinuation of or changes in ‘benchmark’ indices (7) inflation and deflation in our principal markets (8) changes in conditions in the credit and capital markets generally, including changes in borrower and counterparty creditworthiness (9) failures of banks falling under the scope of state compensation schemes (10) non-compliance with or changes in laws and regulations, including those concerning financial services, financial economic crimes and tax laws, and the interpretation and application thereof (11) geopolitical risks, political instabilities and policies and actions of governmental and regulatory authorities, including in connection with the invasion of Russia into Ukraine and other existing or emerging military conflicts, the risk of further military escalation, geopolitical tensions, trade restrictions and the related international response measures (12) legal and regulatory risks in certain countries with less developed legal and regulatory frameworks (13) prudential supervision and regulations, including in relation to stress tests and regulatory restrictions on dividends and distributions (also among members of the group) (14) ING’s ability to meet minimum capital and other prudential regulatory requirements (15) changes in regulation of US commodities and derivatives businesses of ING and its customers (16) application of bank recovery and resolution regimes, including write down and conversion powers in relation to our securities (17) outcome of current and future litigation, enforcement proceedings, investigations or other regulatory actions, including claims by customers or stakeholders who feel misled or treated unfairly, and other conduct issues (18) changes in tax laws and regulations and risks of non-compliance or investigation in connection with tax laws, including FATCA (19) operational and IT risks, such as system disruptions or failures, breaches of security, cyber-attacks, human error, changes in operational practices or inadequate controls including in respect of third parties with which we do business and including any risks as a result of incomplete, inaccurate, or otherwise flawed outputs from the algorithms and data sets utilized in artificial intelligence (20) risks and challenges related to cybercrime including the effects of cyberattacks and changes in legislation and regulation related to cybersecurity and data privacy, including such risks and challenges as a consequence of the use of emerging technologies, such as advanced forms of artificial intelligence and quantum computing (21) changes in general competitive factors, including ability to increase or maintain market share (22) inability to protect our intellectual property and infringement claims by third parties (23) inability of counterparties to meet financial obligations or ability to enforce rights against such counterparties (24) changes in credit ratings (25) business, operational, regulatory, reputation, transition and other risks and challenges in connection with climate change, diversity, equity and inclusion and other ESG-related matters, including data gathering and reporting and also including managing the conflicting laws and requirements of governments, regulators and authorities with respect to these topics (26) inability to attract and retain key personnel (27) future liabilities under defined benefit retirement plans (28) failure to manage business risks, including in connection with use of models, use of derivatives, or maintaining appropriate policies and guidelines (29) changes in capital and credit markets, including interbank funding, as well as customer deposits, which provide the liquidity and capital required to fund our operations, and (30) the other risks and uncertainties detailed in the most recent annual report of ING Groep N.V. (including the Risk Factors contained therein) and ING’s more recent disclosures, including press releases, which are available on www.ing.com.
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Attachment
THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, ITALY, DENMARK, JAPAN, THE UNITED STATES, OR TO ANY NATIONAL OF SUCH JURISDICTIONS
Neuberger Private Equity Partners Announces Transaction in Own Shares
St Peter Port, Guernsey 29 September 2026
Neuberger Private Equity Partners Limited (“NBPE” or the “Company”) today announces details of Class A Shares bought back pursuant to general authority granted by shareholders of the Company on 11 June 2026 and the share buy-back agreement with Jefferies International Limited.
Transaction on London Stock Exchange
| Date of purchase of Shares | 28 September 2026 |
| Number of Shares purchased | 70,000 Class A Shares |
| Highest price/lowest price paid | £14.95 / £14.82 |
| ISIN for the Shares | GG00B1ZBD492 |
All Class A Shares bought back will be cancelled. Following the cancellation, the number of outstanding Class A Shares is 37,695,491. The Company also has 3,150,408 Class A shares held in treasury. For reporting purposes under the FCA’s Disclosure Guidance and Transparency Rules the market should use the figure of 37,695,491 voting rights when determining if they are required to notify their interest in, or a change to their interest in the Company.
For further information, please contact:
NBPE Investor Relations +44 20 3214 9002
Luke Mason NBPrivateMarketsIR@nb.com
Oak Group +44 1481 723450
About Neuberger Private Equity Partners Limited
Neuberger Private Equity Partners Limited (“NBPE”) invests in direct private equity investments alongside market leading private equity firms globally. NB Alternatives Advisers LLC (the “Investment Manager”), an indirect wholly owned subsidiary of Neuberger Berman Group LLC, is responsible for sourcing, execution and management of NBPE. The vast majority of direct investments are made with no management fee / no carried interest payable to third-party GPs, offering greater fee efficiency than other listed private equity companies. NBPE seeks capital appreciation through growth in net asset value over time while paying a bi-annual dividend.
LEI number: 213800UJH93NH8IOFQ77
About Neuberger
Neuberger was founded in 1939 to do one thing: deliver compelling investment results for our clients over the long term. This remains our singular purpose today, driven by a culture rooted in deep fundamental research, the pursuit of investment insight and continuous innovation on behalf of clients, and facilitated by the free exchange of ideas across the organization.
From offices in 39 cities[1] across 26 countries, Neuberger manages a range of equity, fixed income, private equity and hedge fund strategies on behalf of institutions, advisors and individual investors worldwide. With more than 780[1] investment professionals and over 2,900[1] employees in total, Neuberger has built a diverse team of individuals united in their commitment to client outcomes and investment excellence. Our culture has afforded us enviable retention rates among our senior investment staff and we are proud to have been ranked 1st by Pensions & Investments in their 2025 “Best Places to Work in Money Management” survey, where we have placed 1st in four of the last five years and finished in the top two for 12 consecutive years[2].
As a private, independent, employee-owned investment manager, Neuberger is structurally aligned with the long-term interests of our clients. We have no external parent or public shareholders to serve, nor other lines of business to distract us from our core mission. And with our employees and their families invested alongside our clients—plus 100% of employee deferred cash compensation directly linked to team and firm strategies—we are truly in this together.
For more information, please visit our website: www.nb.com/en/global/who-we-are.
Media Contacts:
US: Soogyung Jordan: Soogyung.Jordan@nb.com
EMEA: Fiona Kehily: Fiona.Kehily@nb.com
[1] Firm data reflects the collective data for the various subsidiaries of Neuberger Berman Group LLC as of 30 June 2026.
[2] Among organizations with over 1,000 employees by Pensions & Investments. For additional information on the criteria for the award, please visit https://www.pionline.com/awards/best-places-to-work-in-money-management/pi-best-places-to-work-2025.
This material is issued on a limited basis through various global subsidiaries and affiliates of Neuberger Berman Group LLC. Please visit www.nb.com/disclosure-global-communications to learn about each company and the legal restrictions and restrictions. The name “Neuberger Berman” and logo are registered service marks of Neuberger Berman Group LLC.
© 2026 Neuberger Berman Group LLC. All rights reserved.
This press release appears as a matter of record only and does not constitute an offer to sell or a solicitation of an offer to purchase any security.
NBPE is established as a closed-end investment company domiciled in Guernsey. NBPE has received the necessary consent of the Guernsey Financial Services Commission. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results. This document is not intended to constitute legal, tax or accounting advice or investment recommendations. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision. Statements contained in this document that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of NBPE’s investment manager. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Additionally, this document contains “forward-looking statements.” Actual events or results or the actual performance of NBPE may differ materially from those reflected or contemplated in such targets or forward-looking statements.
ICG Enterprise Trust plc (the “Company”)
29 September 2026
Transaction in Own Shares
The Company announces that on 28 September 2026 it bought back 10,000 of its own shares under the long-term buyback programme, to be held as treasury shares, at an average price of 1378 pence per share.
Further details are set out below:
- Number of shares held as treasury shares following settlement of this purchase: 3,352,560
- Total shares in issue excluding treasury shares following settlement of this purchase: 60,201,632
The Company has bought back these shares under the authority granted by shareholders at its Annual General Meeting in June 2026, which permits the Company to repurchase a maximum of 14.99% of its ordinary shares. The actual number of shares repurchased by the Company will depend on market conditions. This authority lasts until the next shareholder authority granted (expected to be at the Annual General Meeting in 2027), or until expressly revoked by shareholders.
No maximum consideration payable has been determined by the Company, but the Company is unable to pay a price for any shares pursuant to the buyback which would equate to a premium to the net asset value. It is the Company’s current intention to hold any shares bought back in treasury.
The Company has instructed Numis Securities Limited (trading for these purposes as Deutsche Numis) as its broker in respect of its buyback transactions. This arrangement is in accordance with the UKLA Listing Rules and the Company’s general authority to repurchase shares.
Analyst / Investor enquiries:
Chris Hunt
Shareholder Relations, ICG
+44 (0) 20 3545 2020
Andrew Lewis
Company Secretary, ICG
+44 (0) 20 3545 1344
Media:
Clare Glynn
Corporate Communications, ICG
+44 (0) 20 3545 1395
In this newsletter, Alm. Brand Group aims to disclose key trends and factors to give investors, analysts and others a better understanding of the company’s financial performance.
On 28th October 2026, Alm. Brand will publish Q3 2026 results and host a conference call for investors and analysts. The conference call and presentation will be available on Alm. Brand Group’s investor website.
Previous reports and presentations are available on almbrand.dk.
Premiums are well-diversified between Personal and Commercial Lines
In general, Alm. Brand Group has a well-diversified business, with approximately 50% of premiums from each Personal and Commercial lines. Personal lines are regarded as a stable business for premiums, whereas Commercial Line premiums may exhibit fluctuations from quarter to quarter, mainly due to premium adjustments affecting commercial customers. In general, it is Alm. Brand Groups ambition to ensure sustained profitable growth.
In the most recent quarter, Q2 2026, insurance revenue increased by 1.7% compared to the previous year. The growth was driven by a 5.2% increase in Personal Lines, while Commercial Lines experienced a decline in premiums of 2.3%. The decrease for Commercial Lines should be viewed in the context of a focus on improving profitability in a continued soft market for workers’ compensation and the ongoing focus on reducing volatility for large commercial clients. Adjusted for workers’ compensation and large corporate customers, the commercial portfolio reflected a premium growth of 1.0% in Q2 2026.
Expected claims levels
The annual level of major claims is expected to be around 6% of premium income. For Commercial lines, this level is expected to be approximately 10% of premium income. Please note, that there are no significant seasonal patterns for major claims on a quarterly basis.
In contrast, weather-related claims are influenced by seasonal variations, with 35%, 10%, 25%, and 30% of annual weather-related claims occurring in Q1, Q2, Q3, and Q4. On an annual basis, weather-related claims are expected to amount to 3-4% of premium income. The midpoint corresponds to approximately 4.9%, 1.4%, 3.5%, and 4.2% of premium income in Q1, Q2, Q3, and Q4, respectively.
Additionally, as mentioned in financial reports, run-off gains are expected to be approximately 2% of premiums on a long-term basis, but will fluctuate on a quarterly basis.
For reference, discounting amounted to 2.2 in Q2 2026. The discounting effect in Q3 2026 remains influenced by the workers’ compensation model change implemented in Q4 2025, which partly offsets interest rate movements after the model change, while recent increases in interest rates exceed the effect of the model change. The recent effects are thus more likely to materialise into higher discounting ahead. As a general rule of thumb, a 1% parallel upward increase in the interest rate curve leads to a 1% lower Combined Ratio, and vice versa for a 1% parallel decrease in the interest rate curve.
Please also remember that Industry data relating to motor frequency and weather statistics can be found through the Danish trade association for insurance companies and pension funds (www.fogp.dk) and the Danish Meteorological Institute (www.dmi.dk).
Well-diversified, low-risk investment portfolio
Alm. Brand Group has a total investment asset mix of approximately DKK 21 billion mainly consisting of Danish mortgage bonds. A large part of the portfolio is hedged to balance expected return and value adjustment on technical provisions. The remaining part is spread over real estate, illiquid credit, bonds and equities (free portfolio).
It is the overall investment strategy to remain cautious with a risk appetite calibrated according to earnings from insurance operations. In general, the group has a well-diversified, low-risk investment portfolio.
As a general guideline, mortgage bonds can be expected to follow the performance of Danish mortgage bonds with a two-year duration (ticker example: NYKRCMB2). For equities, the performance can be tracked using the ACWI index hedged to EUR (ticker example: M1CXUBLR). It is important to note that these indicators do not track Alm. Brand Group’s portfolio on a 1:1 basis but should rather be viewed as a rule of thumb.
It is also important to highlight that the return on technical provisions is calculated using the EIOPA discount curve with a volatility adjustment (VA). The asset portfolio hedging of interest rate risk is designed to align with market-driven fluctuations in the yield curve components.
Other items
- Alm. Brand Group consensus estimates will be available on almbrand.dk ahead of the Q3 report.
Contact
Please direct any questions regarding this announcement to:
Investors and analysts:
Head of Investor Relations and ESG
Mads Thinggaard
Mobile no. +45 2025 5469
Senior Investor Relations Officer
Nikolaj Thalbitzer
Mobile no. +45 2060 5784
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PayPoint Plc
Capital Markets Day
29 September 2026
Capital Markets Day sets out growth drivers underpinning medium-term ambition
PayPoint Plc, the UK-listed technology, payments and services business, is today hosting a Capital Markets Day for analysts and institutional investors at Investec’s offices in London.
The event will provide a deeper understanding of the Group’s growth strategy and simplified operating model following the reorganisation announced in March 2026 and further detailed at the Group’s FY26 results. The management team will set out the growth opportunities, execution priorities and key performance indicators across the Group’s four business units: Network Services, Digital Payments & Open Banking, Love2shop and Merchant Services.
The Capital Markets Day will demonstrate how the growth drivers and key performance measures across the four business units underpin PayPoint’s existing medium-term ambition of delivering 5–8% net revenue growth per annum, supported by a resilient financial framework, strong cash generation and disciplined capital allocation.
Nick Wiles, Chief Executive of PayPoint Plc, said:
“We have simplified PayPoint into four scaled business units, creating clearer accountability, sharper strategic focus and a stronger platform for growth.
“Today we are setting out how each business is positioned to grow, the opportunities we are prioritising and the KPIs investors can use to measure our delivery. Across the Group, we see compelling routes to growth, including Community Banking and Digital Engagement, structural growth in digital payments and Open Banking, the lifetime value opportunity across Love2shop, and the return of Merchant Services to long-term profitable growth.
“Our medium-term financial ambition is unchanged. Focused execution across the four business units, together with strong cash generation and disciplined capital allocation, gives us confidence in our ability to deliver sustainable growth and attractive shareholder returns.”
CAPITAL MARKETS DAY
The presentations will set out the following key themes:
- Network Services: targeting underlying net revenue growth of 5–10% per annum, supported by improved service delivery, retailer adoption and network quality, with Community Banking and Digital Engagement key growth areas (FY26 net revenue: £92.4 million).
- Digital Payments & Open Banking: targeting more than 20% compound annual net revenue growth, with revenue expected to more than double over four years, through deeper existing relationships, new clients and channels, and the scaling of participant software and ecosystem infrastructure (FY26 net revenue: £13.3 million).
- Love2shop: maximising the lifetime value of billings across B2B, B2C online, high street distribution and prepaid savings through customer acquisition, increased usage, retention and broader distribution (FY26 net revenue: £53.5 million).
- Merchant Services: executing the strategic reset, launching Handepay Connect in Q4 2026 and returning acquiring to long-term profitable growth, alongside continued growth in Merchant Rentals and Business Finance (FY26 net revenue: £31.6 million).
The Group will also introduce a clearer suite of business-unit KPIs covering pipeline development, recurring revenue and ARR growth; retailer value and engagement; Love2shop billings, blended net revenue and retention; and merchant value, processing and churn economics.
The event will conclude with an update on the Group’s financial framework, including strong cash generation, leverage within the Board’s target range, dividends moving towards approximately two times cover and continuation of the £30 million per annum share buyback programme through to March 2028.
The event will include presentations from the Group’s senior leadership team and demonstrations of capabilities across the four business units.
CURRENT TRADING
Since the Group’s Q1 FY27 Trading Update on 29 July 2026, trading has continued in line with expectations.
The Board remains confident in the Group’s outlook for FY27 and in meeting market expectations for the year. As previously indicated, performance is expected to be weighted towards the second half of the financial year, reflecting both an accelerating contribution from new business and the positive impact of several seasonal businesses.
Enquiries
| PayPoint plc | FGS Global |
| Nick Wiles, Chief Executive | Rollo Head |
| Rob Harding, Chief Financial Officer | James Thompson |
| Mobile: 07442 968960 / 07525 707970 | Telephone: 0207 251 3801 |
| Email: PayPoint-LON@fgsglobal.com |
ABOUT PAYPOINT GROUP
PayPoint Group is a leading UK-listed technology, payments and services business, operating critical national infrastructure that supports millions of consumer and business transactions every day. Organised around four scaled business units, the Group delivers community services, digital payments, rewards, gifting and merchant payment solutions that make millions of people’s lives a little easier.
By combining the reliability of a national infrastructure operator with strong digital innovation, PayPoint enables payments and essential services to be delivered securely and at scale to consumers, businesses and communities across the UK.
PayPoint works with corporates, financial institutions, government bodies, fintechs, retailers and consumer brands, delivering secure, resilient and regulated services at scale. Its digital capabilities span multichannel payments, Open Banking, Confirmation of Payee and API-led platforms, underpinned by a national retail network of over 30,000 convenience store locations and more than 65,000 retailer partner and SMB locations.
PayPoint operates through four core business units:
Network Services
Delivering essential community services through a fully integrated retailer network, including banking services for consumers and SMEs, parcel services, government services and bill payments, alongside digital content and consumer engagement solutions.
Digital Payments & Open Banking
Combining money movement, trust and understanding, participant connectivity and ecosystem operations to deliver payments, funds disbursement, verification, insight and data-sharing solutions.
Love2shop
A rewards, gifting and prepaid savings platform, providing employee reward and recognition, customer engagement, consumer gifting and savings solutions through digital and physical channels.
Merchant Services
Delivering merchant payment solutions, terminal rentals and business finance, with a strategic focus on increasing value per merchant and supporting sustainable, profitable growth for SMB and mid-market merchants.
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