The BLG share¹

¹All market prices of BLG AG in this management report are given as the average on the Hamburg and Frankfurt stock exchanges

DAX and MDAX post strong gains

The German DAX index closed a strong year up by around 22.9 percent, its best result since 2019. The drivers behind this change were the continuous interest rate cuts pursued by major central banks and the ongoing hype surrounding artificial intelligence (AI).

The DAX ended 2025 at 24,490 points, clearly surpassing the 20,000-point mark. The MDAX ended the year at 30,617 points.

Source for this section: Tagesschau.de, “DAX has its best stock market year since 2019,” published on December 30, 2025, 15:39; accessed on February 3, 2026, 13:36. www.onvista.de

BLG share falls by 0.5 percent

Relative performance of the BLG share

After opening the 2025 financial year at EUR 9.30, the BLG share hit its lowest closing price of the year early on January 28, 2025, at EUR 8.55. Despite the challenging global climate, the largest German index, the DAX, remained above its opening level from the beginning of the year onward. The BLG share traded largely sideways during the 2025 financial year. The highest closing price was recorded on November 24, 2025, at EUR 12.70. By year-end, however, this elevated level had declined again.

Due to the low trading volume, even a small number of transactions can influence the share price. Over the reporting year, the BLG share declined by a total of 0.5 percent from the opening price to the year-end closing price, significantly underperforming the DAX (+22.9 percent), MDAX (+19.6 percent) and SDAX (+24.8 percent). On the basis of the annual closing price of EUR 9.25 on December 30, 2025, market capitalization of the BLG share stood at EUR 35.5 million.

Dividend of EUR 0.50

The annual financial statements of BLG AG showed net retained profits in accordance with HGB of EUR 1,920 thousand for the 2025 financial year, at the same level of the previous year (EUR 1,920 thousand). This amount included a transfer of EUR 1,034 thousand to other retained earnings (previous year: EUR 1,679 thousand). According to German law, net retained profits form the basis for the distribution of a dividend.

On this basis, for the 2025 financial year, the Board of Management and the Supervisory Board, will propose to the Annual General Meeting on June 10, 2026, that a dividend of EUR 0.50 per share (previous year: dividend of EUR 0.50 per share) be distributed on the dividend-eligible share capital of EUR 9,984,000.00, corresponding to 3,840,000 shares (registered shares). This represents a distribution payout of EUR 1,920 thousand and a distribution ratio of 65.0 percent. Based on the year-end share price of EUR 9.25, this gives a dividend yield of 5.4 percent for the 2025 financial year.

In the future, we will continue to pursue the goal of a continuous, earnings-based dividend policy. Accordingly, we will allow our shareholders to participate in earnings to a reasonable extent according to the performance of the business.

Shareholder structure of BLG AG as of December 31, 2025

The capital stock of BLG AG amounts to EUR 9,984,000.00 and is divided into 3,840,000 no-par value registered shares with voting rights (registered shares). Any transfer of shares requires the approval of the company in accordance with Section 5 of the Articles of Incorporation.

As of December 31, 2025, the Free Hanseatic City of Bremen (municipality) was the main shareholder in BLG AG with a 50.4 percent stake. Other large institutional investors include Finanzholding der Sparkasse Bremen and Panta Re AG, Bremen, with a stake of 12.6 percent each, and the Waldemar Koch Foundation, Bremen, with a stake of 5.9 percent. A total of 18.5 percent of shares are in free float, corresponding to around 710,000 shares. Approximately 1.1 percent is held by institutional investors, with the remaining 17.4 percent held by private investors.