Amsterdam, 24-09-2025 - As of today, after fifty years of
regained ownership of the 66-acre ADM site. Larendael, development and
investment company owned by entrepreneur Wim Beelen, has purchased the land at the
municipality sold for 165 million euros, well below its assessed value of 235
million euros.

Historic deal
This purchase will end 50 years of procedures, disputes and ambiguity
around the ADM site. The municipality now has a large, strategically located piece of
scarce land. The transfer will take place today.

The ADM site is strategically located in the Western Port and, at 66 hectares, is a
of the largest contiguous pieces of land in Amsterdam. For fifty years, the municipality had
no control over the area, leaving zoning, investment and
enforcement were often laborious. With the buyback, Amsterdam regains direct control
over this scarce land, port and industrial policy can be better implemented and comes
after decades of litigation and conflict, there is finally clarity about the future of the
terrain.

Four years of Larendael: remediation and new wharves
Wim Beelen owned the ADM site for four years. He remediated 20 acres of land and had
construct new wharves. Twenty acres of water were also filled in to create new land.
Beelen will get up to 3 acres on a long lease from the port to build his own yacht yard.
Beelen says, "I bought the ADM site with the idea of creating an international
refit yard from it for yachts. Now I have sold the whole site to the municipality
Amsterdam. I am now going to realize my dream myself on a 3-acre piece of land: my own
build yacht yard.

Back to starting point
According to Beelen, the outcome is positive for everyone: "Everyone is back to their
starting point: the municipality has its land back and we as team Larendael have four
years of hard work. At times we were diametrically opposed, but the
outcome is positive for all parties. It benefits the port and a good chunk of the
site was remediated and provided with new wharves.'

Alderman Hester van Buren (Air and Seaport) is also enthusiastic. 'I am incredibly
pleased that we managed to come to an agreement to put this huge piece of land in
purchase the port. Now that the site is again part of the municipality of Amsterdam
we can use it to further the complicated puzzle in the port area
and thereby create new housing in other places that is badly needed.

The municipality is paying 165 million euros instead of the appraisal value of 235 million euros.
Larendael has generated more than 10 million euros in revenue over the past four years by
having raw materials delivered and temporarily renting the parts of the site.
Beelen will soon be allowed to build his own yacht yard on up to 3 acres. Also, the municipality will give
dues and taxes back. All in all, Beelen is very pleased with this transaction.

Cooperation with municipality
Beelen emphasizes the good cooperation with the municipality: 'Together we have developed our
shoulders to get this done. For me, this is a great learning process
as human beings - that it is important to stay close to yourself and keep a positive outlook. This is
the icing on the cake.

With today's transfer, the City of Amsterdam has taken control of the site
back. This provides room for new plans and strengthens the port's position. Larendael
focuses on the realization of its own yacht yard on the 3-hectare portion of the harbor that it is
in long lease is made available.

The transaction is commercial at home guided, with tax advice from BDO Accountancy, Tax
& Legal and notarization by Hemwood.