NEXUM GROUP AG
Questions & Answers

Yes. The Frankfurt Stock Exchange officially resumed trading in our shares on 2 November 2026. Nexum remains admitted to the regulated market (General Standard). This marks an important milestone in our capital markets strategy. Our next priorities are executing our project pipeline and broadening our shareholder base.

Sources: Frankfurt Stock Exchange, 2 November 2026

The stock exchange suspended trading on 17 August 2026. Despite our enquiries, we did not receive a conclusive explanation beyond the suspension decision itself. In our discussions with the exchange and BaFin, no additional specific objections were raised with us. The exchange authorised trading to resume on 2 November. The trading suspension has therefore ended.

Sources: Frankfurt Stock Exchange – trading resumption

In September, the stock exchange announced a revocation of admission because historical financial reports were outstanding. We published those reports in September and lodged an objection to the revocation decision. On 5 October, the exchange confirmed that our objection had suspensive effect: the admission remained in place. Our shares have been trading again since 2 November. We have not yet received a separate formal decision concluding the objection procedure. The resumption of trading and the objection procedure are therefore distinct matters.

Sources: Frankfurt Stock Exchange announcement, 5 October 2026 · Frankfurt Stock Exchange – resumption, 2 November 2026

Our shares have been cleared for trading on the Frankfurt Stock Exchange since 2 November. The ISIN is DE000A41YGA6, the German securities identification number (WKN) is A41YGA and the trading symbol is NXM. Whether a broker offers trading and through which venue depends on its systems and connections. Investors should refer to the current quotes and order information provided by their custodian bank, broker or trading venue.

Sources: Frankfurt Stock Exchange – instrument and trading clearance

The price movements coincided with the acquisition of the former creditshelf listed shell and the anticipated transformation into Nexum. Reverse IPO situations of this kind often attract speculative demand. At the same time, the number of shares available for trading was very limited. This combination can cause sharp price movements even without substantial trading volumes. Historical quotes without meaningful executions are therefore of limited value as reliable market prices. Over the long term, the actual results of our real estate strategy will be what matters for valuation.

Sources: Historical share price data · BaFin decision including shareholder arrangements

First Capital AG and Philipp von Erffa applied for an exemption from the mandatory takeover offer on 22 June. During the proceedings, non-tender, custody account blocking and transfer restriction arrangements were in place with the outside shareholders. These arrangements substantially reduced the available supply of shares. BaFin granted the exemption on 2 October. The contractual restrictions were not the legal basis for the separate trading suspension imposed by the stock exchange.

Sources: BaFin decision, published 6 October 2026

We have repositioned the listed company, established governance and compliance structures, built the team and finance function, published the outstanding historical financial reports and secured the resumption of trading. On 3 November, we also announced a tangible operating transaction: we signed the purchase agreement for a residential development in Munich's Maxvorstadt district. Its planned total investment volume is approximately EUR 20 million. We announced the signing of the agreement, not a completed closing or realised project profits.

Sources: Ad hoc announcement, 3 November 2026 · Investor relations announcements

Our shares offer exposure to a real estate platform that intends to build a portfolio of selected new projects in a challenging market. We focus on residential developments with demonstrable demand, advanced planning permission and realistic routes to sale. We intend to generate income from contracted services and fees, our own equity interests and directly held projects. The first signing in Munich turns our strategy into a tangible transaction. Our execution will determine whether it translates into sustainable earnings, cash flow and increased enterprise value.

Sources: Ad hoc announcement – Munich project · Our real estate strategy

Since trading resumed, supply and demand have again determined market prices. For short-term investors, actual executed trading volumes, bid-ask spreads and order book depth are more meaningful than isolated price quotations. With a still limited free float, relatively small orders can cause substantial price movements. We aim to support tradability by increasing the number of freely available shares and providing regular capital markets communication. We cannot guarantee a particular share price performance or daily liquidity.

Sources: Frankfurt Stock Exchange – trading resumption · Investor Relations

First Capital AG is our anchor shareholder; its sole shareholder, Philipp von Erffa, is also Nexum's CEO. On 2 October 2026, BaFin exempted First Capital and Philipp von Erffa from the obligations to make a mandatory takeover offer specified in its decision. We aim to broaden the free float gradually through placements of existing shares and, subject to the necessary resolutions, potential capital measures. Alongside institutional investors and family offices, we are deliberately addressing retail investors. Broad demand, reliable information and actual trading volumes are essential for an active secondary market. Shareholdings may change; the latest position is reflected in published voting rights notifications.

Sources: BaFin exemption decision · Investor Relations

We conduct structured discussions with potential investors to assess interest in share placements or capital measures and explore possible transaction terms. This helps us prepare transactions more effectively. Where a process constitutes a market sounding under the EU Market Abuse Regulation, we comply with the applicable rules. Our public investor relations activities and discussions with institutional capital providers share the same objective: providing clear information about our strategy, progress and capital requirements. Market soundings are not a means of supporting the share price.

Sources: EU Market Abuse Regulation, Article 11

We want Nexum to become a transparent capital markets company that private and institutional investors can assess effectively. This requires regular financial reporting, quarterly updates, clear governance and professional dialogue with analysts and investors. We are planning a move to the Prime Standard in 2027 and are already preparing the necessary processes. Our next quarterly update is scheduled for 30 November 2026. Any segment change remains subject to meeting the stock exchange's requirements.

Sources: Investor Relations and financial calendar

Alongside conventional project finance, our listed shares can become an additional growth instrument through capital increases, potential participation and transaction structures, and a broader investor base. More liquid trading can make shares more useful as transaction consideration. Whether a lender accepts shares as collateral remains the lender's decision. Our objective is to develop a share whose market liquidity, public information and operating value creation increasingly meet institutional expectations.

Sources: Investor Relations

We bring acquisition, financing, development, construction and sales together within an integrated real estate platform. Our starting point is buyer demand: Which apartments are sought after in a location, at what total purchase price and how quickly can they be sold? We then evaluate suitable properties with advanced planning permission. We prepare financing, general contractor arrangements and sales as far as possible in parallel. Our aim is not a protracted appreciation story but commercially attractive, swift execution, with predictable cash inflows and reinvestment of released capital.

Sources: Real estate strategy

We generate income from clearly defined services and from the economic success of real estate investments. Potential sources include acquisition, structuring, development and management fees, our own equity interests and the proceeds from selling directly held projects. A low purchase price creates potential, but is not itself a profit. Fees are recognised only in accordance with the relevant agreements; intra-group charges are eliminated on consolidation. The same economic result is not counted twice. Ultimately, realised earnings and cash flow actually available to the company are what matter to shareholders.

Sources: Financial reports · Business model

On 3 November 2026, we announced the signing of a purchase agreement for a project in Munich's Maxvorstadt district near the Technical University of Munich (TUM). The plan is to revitalise an existing building, add a rooftop extension and construct a new building in the rear courtyard. Planned gross floor area is approximately 2,800 sq m, with total investment volume of around EUR 20 million. We reported a significant discount to the official standard land value. A positive preliminary building permit is in place and the building permit application has been submitted. The ad hoc announcement reported signing, not a completed transfer of ownership.

Sources: Ad hoc announcement, 3 November 2026

We do not buy a plot first and then look for buyers. Before signing, we use market and sales data to assess which apartment sizes, layouts and total purchase prices work in a given location. Compact, efficiently designed homes are currently often particularly marketable. The specific micro-location remains decisive. The highest theoretical price per square metre is worth less to us than a realistic selling price backed by strong demand and a short capital commitment.

Sources: Real estate strategy · Best Place sales

Best Place is our strategic, non-exclusive sales partner. The company describes itself as Germany's leading independent sales platform for property developers and portfolio owners. We involve Best Place as early as the product and acquisition review: target buyers, unit mix, pricing and expected sales velocity all influence our decision. Following acquisition, we prepare brochures, visualisations, marketing and sales activities as early as possible. We also work with other specialists where appropriate. For us, sales do not begin only when construction is completed.

Sources: Best Place – sales

In the transaction structures we target, the period between signing the notarised purchase agreement and economic closing is often three to twelve months. We treat that period as an active preparation phase. A signed purchase agreement frequently provides the basis for finalising binding financing arrangements. In parallel, we finalise financing, review permits, tender general contractor contracts, negotiate costs and timelines, and prepare marketing materials. The purchase agreement determines what we may undertake before closing. Our objective is to begin execution after closing without avoidable delay.

Sources: Investment strategy

We structure each project with an appropriate mix of equity, bank debt and, where relevant, additional capital from co-investors or joint venture partners. Nexum also invests directly where it makes economic sense; First Capital may provide capital under contractual arrangements. This allows us to participate in project results in addition to earning fees for our services. Our equity contribution and the allocation of profits are agreed separately for each project. A capital increase at the listed company level is distinct from financing an individual project.

Sources: Investor Relations

We favour projects with advanced planning permission and prepare general contractor tenders early. Where feasible, we seek lump-sum or fixed-price arrangements, binding schedules and appropriate security from suitable general contractors. We assess the scope of work, interfaces and the contractor's financial strength. These contracts improve cost and schedule visibility but do not remove every construction or completion risk. Our advantage comes from combining advanced planning permission, prepared financing, early contractor engagement and market-led sales.

Sources: Real estate strategy

Our pipeline, announced in August 2026 with potential development volume of more than EUR 1 billion, includes projects at different stages of maturity. We organise them through a consistent process, from initial contact to delivery:

Early Stage / Initial Review: We identify an opportunity and assess the market, buyer demand, planning status and initial financial assumptions.

Active Negotiations: We negotiate with the seller, deepen due diligence and examine financing, construction costs and sales.

Exclusivity: We have the right to assess a project on a priority basis for an agreed period and develop the contractual and financing structure. Acquisition is not yet assured.

Signing: We sign the purchase agreement. Before closing, we continue preparing financing, general contractor procurement, sales materials and marketing.

Closing: Once contractual conditions have been met, we complete the acquisition and then implement the project.

This makes it clear how an investment opportunity progresses step by step into a financed, executable project. The pipeline is not an already acquired property portfolio; its value lies in the quality and progressive execution of these opportunities.

Sources: Company announcement, 19 August 2026

Gross Development Value (GDV) refers to a project's expected sales proceeds. Total Investment Costs (TIC) comprise its budgeted total investment, including acquisition, construction and other project costs. The difference does not automatically equal the profit attributable to Nexum: financing, taxes, partners' shares and contractual arrangements must all be taken into account. We therefore distinguish project volume, our own capital commitment and our economic share of earnings. This helps investors assess our business without disclosing confidential calculations for transactions still under negotiation.

Sources: Project pipeline – public announcement

Cash flow shows when money actually leaves and enters a project. A reserved apartment is not yet a sale, and a notarised purchase agreement does not automatically trigger immediate payment. Payment dates depend on the agreement and applicable legal requirements. Alongside project margins, we therefore monitor pre-sales, notarised contracts, purchase price instalments as they fall due, actual cash receipts and remaining capital tied up. We aim for an attractive project result with the earliest practical, predictable return of capital—not the last theoretical euro of selling price. That is what we mean by high capital turnover.

Sources: Financial reports · Real estate strategy

Traditional developers often acquire a plot and then spend several years obtaining planning permission, navigating plan changes and approval procedures while capital remains tied up. We deliberately focus on the later stage where operational value is created. We call this execution-focused property development: we favour projects with an existing building permit or, at a minimum, a positive and reliable preliminary building permit. Between signing and closing—which in our transactions can regularly take three to twelve months—we finalise financing, prepare general contractor tenders and, where possible, binding construction cost and schedule arrangements, while developing marketing materials with the sales team. This shortens the path from acquisition to execution and limits early planning, construction cost and sales risks. A preliminary permit does not replace a full building permit; we assess the remaining risks before each investment.

Sources: Munich project with positive preliminary building permit

Many developers and property owners are under pressure: financing costs have risen, refinancing has become more difficult and capital is scarcer. We are building our new real estate business in this market environment without having to restructure a legacy portfolio of troubled development projects accumulated over many years. This gives us room to acquire selected projects with sound fundamentals at more attractive prices. We are not seeking distressed situations for their own sake. We are interested in projects where demand, planning permission, financing and exit prospects work under realistic assumptions.

Sources: Real estate strategy

Non-performing loans (NPLs) secured by real estate, failed financings and restructurings can provide access to attractive residential projects. Depending on the circumstances, we consider acquiring the property, investing in the project company, restructuring the financing or acquiring a secured debt claim. Our objective is not to build a debt collection business. We want to take over projects with sound economic fundamentals, refinance them and bring them through completion and sale. We assess every transaction structure from both a legal and commercial perspective.

Sources: Real estate acquisition profile · Legal framework for credit servicing

We combine transaction access with capital and execution capabilities. Banks and sellers can work with a partner that not only evaluates an acquisition price but also intends to organise financing, planning matters, contractor procurement and sales. Family offices and institutional capital providers can gain project-specific exposure to selected real estate opportunities without having to build an execution platform themselves. Our fees, capital contributions, security arrangements and shares of results are agreed project by project. What matters is turning a challenging starting position into a viable residential project.

Sources: Contact and acquisition profile

We bring real estate, financing, capital markets and sales expertise together in an organisation with short decision-making lines. Clear responsibility, transparency and measurable outcomes are central to how we work. Information about our Management Board and Supervisory Board is available under Investor Relations. Our approach, locations and current vacancies are listed under Company & Culture. We do not duplicate management biographies in these FAQs.

Sources: Company & Culture / Careers · Investor Relations – corporate bodies

Yes. By order dated 12 September 2026, the Local Court of Frankfurt am Main terminated the insolvency proceedings of the former creditshelf AG. The confirmed insolvency plan had previously been implemented. We acquired the listed legal entity and repositioned its business towards residential real estate in 2026. The insolvency period is therefore part of our corporate history. The legal continuity of the AG and any historical reporting and follow-on obligations remain unaffected. The court order is available on our website.

Sources: Court order terminating insolvency proceedings

Yes. In September 2026, we published the outstanding financial reports for 2023 to 2025, including the short financial years in 2024. The half-year financial report for 2026 is also available. These documents largely relate to the former creditshelf business and its restructuring, rather than the earning capacity of our newly established real estate platform. The audit status of each report is set out in the original document. Publication and an auditor's opinion are two different matters.

Sources: Financial reports 2023–2026

Every project goes through a structured review by our investment team. We analyse buyer demand, purchase price, planning permission, construction costs, financing, sales, expected cash flow and key risks. The project is then submitted to the Investment Committee, whose approval is required for every project. Only after that approval does the Management Board make the final investment decision and take responsibility for execution. Where required by law or our internal rules, we also obtain approval from the Supervisory Board. This clear sequence combines investment discipline with fast decision-making.

Sources: Corporate Governance and Investor Relations

We frequently structure real estate projects through separate special purpose vehicles (SPVs). This allows us to allocate assets, financing, investor funds, fees and cash flows to the respective project. The structure supports financial control and cooperation with partners. It does not automatically eliminate risk for Nexum Group AG: guarantees, sureties, additional financing requirements or other obligations can still affect the listed company. We take these exposures into account in investment decisions and reporting.

Sources: Investor Relations

Our success depends on acquiring, financing, completing and selling projects on economically attractive terms. Risks include interest rates, construction costs, planning permission, delays, selling prices and payment shortfalls. Future capital increases may dilute existing shareholdings. On the stock market, low trading volumes and wide bid-ask spreads can lead to sharp price fluctuations. We limit risks through selection, financing, general contractor contracts and early sales, but cannot eliminate them. Actual execution—not pipeline volume alone—will determine our results.

Sources: Financial reports and risk disclosures · Investor Relations