2021: Acquisition of Merit Capital (subject to regulatory approval)


Netoil signed a sales and purchase agreement for the acquisition of 100% of Merit Capital NV, a
wealth management company headquartered in Antwerp, Belgium managing in excess of 1.2 billion Euro in
assets. The closing of the Merit Capital NV acquisition is subject to appropriate regulatory approval by National
Bank of Belgium.

Merit Capital NV CEO Jan De Coninck shared what this means for the future of the company: “In recent months,
a huge amount of work has gone into securing a strategically-aligned shareholder. With the signing of the sales
agreement, Merit Capital NV enters the next phase where stability and growth are central.”

About Merit Capital:

Merit Capital was founded in 2000 by professionals who have earned their spurs in the financial world. Their
experience has led to the conviction to work from a philosophy of transparency and mutual interest. From
focus and result orientation. Merit Capital realized exceptional growth over the last decade. Between 2007 and
2010 the assets under management grew with an average of 70% per year through acquisitions and organic
growth. This led to a geographical expansion through branches. Today Merit Capital has branches in every
Flemish region; Antwerp, Deurle, Hasselt, Kortrijk and Leuven. Starting in 2000 with a couple of people, we
have grown to almost 44 dedicated employees.