RENTAL INCOME UP +4% IN H1 2026 AND TARGET FOR THE YEAR REVISED UPWARDS TO €221M (VS. €220M PREVIOUSLY)

Quarterly financial information – Neuilly-sur-Seine, Wednesday, July 1, 2026 – 5.45 pm

RENTAL INCOME UP +4% IN H1 2026 AND TARGET FOR THE YEAR REVISED UPWARDS TO €221M (VS. €220M PREVIOUSLY)

Rental income (IFRS) as at June 30, 2026 (unaudited figures)

First half 2026 rental income: €109.7 million

In the 1^st half of 2026, ARGAN, leading French real estate company specializing in the development and leasing of premium warehouse facilities across France, recorded rental income totalling €109.7m, i.e., up + 4 % from the first half of 2025. The growth in the first half was mainly driven by the full-year effect of the 2025 deliveries, supplemented by the rent indexation (+0.6%) as of January 1, 2026. The Company also returned to a 100% occupancy rate in the first quarter of 2026, following the lease to JS LOGISTICS of 32,000 sqm previously vacant on the Coudray-Montceaux site (Paris area).

Following its strong first-half performance and taking into account the 2026 delivery schedule, ARGAN is raising its full-year 2026 rental income guidance and now expects rental income of at least €221 million¹, representing an increase of more than 4% compared with 2025.

Six deliveries have been completed since the beginning of the year as part of a 2026 investment program of nearly €160 million covering eight projects

The secured investment program for 2026 amounts to €160 million, of which acquisitions account for nearly €120 million. The average overall yield on the 2026 investments exceeds 6%, with more than €140 million already delivered through six projects intended for:

• PUMA, delivered in February, at the Vendenheim logistics park (Bas-Rhin, 67), comprising 42,000 sqm. A long-standing presence in France's Grand Est region, PUMA has leased this new facility near Strasbourg under a long-term lease with a firm nine-year term;
• POMONA, with an extension delivered in February, adding 1,300 sqm of new frozen-storage space at its Valenton site (Val-de-Marne, 94). The delivery also provided the opportunity to extend the lease for a firm term of 12 years;
• CELIO, with a new 12,000 sqm extension inaugurated in April, bringing the total surface area of the Amblainville site (Oise, 60) to 55,000 sqm. The project also reduced the site's CO₂ emissions by a factor of four by upgrading the entire facility to the AutOnom® standard. This new milestone also marks the beginning of a new commitment under a lease with a firm 10-year term;
• FERRERO, in Normandy, the historic heartland of the Italian group's operations in France. The first facility, comprising 34,000 sqm, was delivered in Cléon (Seine-Maritime, 76) in June, while the second, a 20,000 sqm facility in Barentin (Seine-Maritime, 76), was commissioned on July 1. These two deliveries mark the commencement of long-term leases with firm 10-year terms for each site; and
• DANONE, for a new AutOnom® facility in Sorigny (Indre-et-Loire, 37), near Tours, delivered at the end of May. This new 8,200 sqm site includes 6,400 sqm of cold storage space at 2/6°C and an 800 sqm office block, under a lease with a firm nine-year term.

ARGAN's delivery pipeline for the remainder of the year includes two additional projects for:

• Jacky Perrenot, with the development of a 5,700 sqm AutOnom® facility in Béziers (Hérault, 34), scheduled for delivery in October 2026. Located in the fast-growing Béziers Ouest business park, the project will mark the commencement of a lease with a firm six-year term; and
• ID LOGISTICS, on behalf of Intermarché, in Saint-Bonnet-les-Oules (Loire, 42), near Saint-Étienne, involving the conversion of approximately 15,000 sqm of ambient-temperature storage into cold storage within a warehouse of more than 50,000 sqm. On completion of the project, scheduled for July 2026, the lease will be extended for a further firm term of nine years.

A Proven Value Creation Model

Despite a backdrop of sluggish economic activity and heightened geopolitical uncertainty, ARGAN's commercial and financial performance continues to demonstrate the resilience of its business model, driven in particular by AutOnom®, the warehouse that generates its own energy for self-consumption. In addition, the recently signed projects have brought several major new customers into ARGAN's portfolio.

2026 financial calendar (Publication of the press release after closing of the stock exchange)

• July 20: Half-year results 2026¹
• October 1: Net sales of 3rd quarter 2026

2027 financial calendar (Publication of the press release after closing of the stock exchange)

• January 4: Net sales of 4th quarter 2026
• January 21: Annual results 2026
• March 25: General Assembly 2027

About ARGAN

ARGAN is the only French real estate company specializing in the DEVELOPMENT & RENTAL OF PREMIUM WAREHOUSES listed on EURONEXT and is the leading player of its market in France. Building on a unique customer-centric approach, ARGAN develops PREMIUM and pre-let Au0nom®-labelled warehouses – i.e., which produce their own energy for self-consumption – for blue-chip companies, with tailor-made services throughout all project phases from the development milestones to the rental management. As at December 31, 2025, ARGAN represented a portfolio of 3.8 million sq.m, with more than 100 warehouses located in the continental area of France. Appraised at a total of €4.1 billion, this portfolio generates a yearly rental income of €214 million (yearly rental income based on the portfolio delivered as at December 31, 2025).

Profitability, well-mastered debt and sustainability are at the heart of ARGAN’s DNA. The financial solidity of the Group’s model is notably reflected in its Investment-grade rating (BBB- with a stable outlook) with Standard & Poor’s. ARGAN is also deploying a committed ESG policy addressing all its stakeholders. Achievements as part of this roadmap are regularly recognized by third-party agencies such as GRESB (rated: 83/100), Sustainalytics (low extra-financial risk), Ethifinance (gold medal) and Ecovadis (silver medal – top 15% amongst rated companies).

ARGAN is a listed real estate investment company (French SIIC), on Compartment A of Euronext Paris (ISIN FR0010481960 - ARG) and is included in the Euronext SBF 120, CAC All-Share, EPRA Europe and IEIF SIIC France indices.

www.argan.fr

Francis Albertinelli – CFO
Aymar de Germay – General Secretary
Samy Bensaid – Head of Investor Relations
Phone: +33 1 47 47 47 40
E-mail: contact@argan.fr

Marlène Brisset – Media relations
Phone: +33 6 59 42 29 35
E-mail: argan@cdrconsultancy.com

DISCLAIMER

Some elements or statements included in this press release may contain forward looking data or prospective estimates regarding potential future events, trends, roadmaps or targets. Although ARGAN considers these forward-looking statements rely on reasonable assumptions at the time this document is released, forward looking projections and announced trends are by nature subject to risks, identified or not as of today. These can lead to significant discrepancies between actual results and those indicated or implied in elements or statements contained in this press release. For more detailed information regarding risks, readers can refer to the latest version of the Universal Registration Document of ARGAN, filed with the Autorité des marchés financiers (AMF) and available in a digital format on the AMF website (www.amf-france.org) as well as ARGAN’s (www.argan.fr).

ARGAN makes no undertaking in any form to publish updates or revise its forward-looking statements, nor to communicate new pieces of information, new future events or any other circumstances that may question these statements.

Notes

1. For more information, please refer to the press release dated January 22, 2026.
2. Release date modified, thus replacing the initial schedule on July 23, 2026.