TINC participation GlasDraad joins forces with the KPN and ABP joint
venture Glaspoort to accelerate fiber deployment in the Netherlands

Antwerp, 17 April 2023, 18:00 CET


TINC, the infrastructure investor listed on Euronext Brussels, announces the cooperation between its
fiber company GlasDraad and the Dutch company Glaspoort, a joint venture between KPN and APG
(the pension administrator of ABP) that is also active in the rollout of fiber networks in the
Netherlands.

GlasDraad and Glaspoort are joining forces to speed up the provision of high-speed fiber enabled
internet in the Netherlands. There is a perfect match between the activities of both companies with
GlasDraad mainly active in underserved rural areas and Glaspoort in smaller municipalities, villages
and business parks. As part of this cooperation, Glaspoort will take a 50 % participation in GlasDraad,
with the possibility of acquiring full ownership of GlasDraad over time. Together, TINC and Glaspoort
will also invest in the development capacity of GlasDraad to jointly realise the rollout ambitions. Good
news for the digitization of the Netherlands. The cooperation bundles the expertise of Glaspoort and
GlasDraad, allowing to offer an even better customer experience based on the latest and best
technologies. The 'open network' of both companies will continue to welcome all telecom providers.
This means a huge step forward for the internet experience and freedom of choice for Dutch
households and businesses.

"There is already a close similarity in name between GlasDraad and Glaspoort, but through this
cooperation we are also joining forces in terms of rollout and service offering. We can now speed-up
the provision of superfast and sustainable internet. We are very proud to be joining forces with an
experienced partner like GlasDraad. With this combination we can now connect even more households
and businesses in the Netherlands to the most sustainable internet, making them ready for the future"
- Ferry Niers, CFO of Glaspoort.

"At GlasDraad, we have been offering and building fiber connections in (rural) areas where other
parties are not active, and this since 2017. We do so by working intensively together with local
stakeholders. The cooperation with Glaspoort is an important step forward in the roll-out of our fiber
connections in even more areas. I look forward to the cooperation and to turning our ambition into
reality with the GlasDraad team." - Pieter Van Grunsven, Managing Director GlasDraad.

"The TINC initiative GlasDraad has contributed to the roll-out of fiber networks in the Netherlands since
2017. With the strategic choice to join forces with experienced partners KPN and APG - united in their
joint venture Glaspoort - we are ready to further invest together in the digitization of the Netherlands."
- Arnoud De Ridder, Director Digital Infrastructure TINC.


TINC NV – Karel Oomsstraat 37, 2018 Antwerpen, België – T +32 3 290 21 73 – www.tincinvest.com Pagina | 1
The transaction has a positive contribution to the cash position of TINC of approximately € 40 million.
Combined with € 60 million of bank credit lines (available since April 2023), TINC has now
approximately € 100 million of additional funding to meet outstanding contractual investment
commitments and for new additional investments.

No financial details of the transaction are disclosed. The transaction is subject to customary conditions
precedent including approval by the Dutch competition authority.

About GlasDraad
GlasDraad was founded in 2017 on the initiative of TINC with the ambition to provide households and
businesses in underserved areas in the Netherlands access to superfast, reliable and affordable fiber
connections. GlasDraad realizes network connections in function of effective demand by households
and businesses who do not yet have access to broadband internet. GlasDraad operates these networks
on the basis of an "open network" model. Multiple service providers can thus offer customized
"content" and packages via GlasDraad's network to their customers. GlasDraad is geographically
present throughout the Netherlands and includes networks that are in various stages (built, under
construction and in demand bundling) and already allow more than 90,000 households to connect to
superfast Internet.

About Glaspoort
Glaspoort is a joint venture of KPN and ABP. To this end, together with APG – the pension
administrator of ABP – Glaspoort was established. With this joint venture, Glaspoort accelerates the
roll-out of fiber connections in the Netherlands. Over the next years it aims to provide approximately
1.2 million households and businesses with a future-proof internet fiber connection. For Glaspoort,
fiber connections will become the standard and everyone will be ready for the future.

Contact
Manu Vandenbulcke, CEO TINC
T +32 3 290 21 73 – manu.vandenbulcke@tincinvest.com
Bruno Laforce, Investor Relations TINC
T +32 3 290 21 73 – bruno.laforce@tincinvest.com


About TINC

TINC is a listed investment company that seeks to create sustainable value by investing in the infrastructure for
the world of tomorrow. TINC participates in companies that are active in the realization and operation of
infrastructure and holds a diversified portfolio of participations in focus areas such as public infrastructure,
energy infrastructure, digital infrastructure and selective real estate in Belgium, the Netherlands and Ireland.
For more information, please visit: www.tincinvest.com




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