See II.2.4

Cordium is participating in an innovation project in which we specifically focus on making social housing more sustainable.

We find that existing renovation solutions in the sector do not have sufficient learning capacity, due to a lack of insight into real performance, feedback on effectiveness often misses.

Sticking to existing approach is often accompanied by significant system errors and shortcomings:

o limited ambition levels and designs that cause a "lock-in" on the future of the homes;

o technical choices that consistently (and dogmatically) choose suboptimal techniques;

o solutions that do not sufficiently take into account the challenges in our energy system;

o no life cycle approach from an economic and environmental perspective, i.e. a lack of insight into the net present value (EUR) and net CO2 balance sheet and therefore no strategy to choose the most efficient path;

o payment and bankability of in-depth renovations;

o suboptimal resident guidance and solutions, so that the results post-renovation are not achieved;...

There is a systemic link between the nature and causes of the problems, hence our search for a holistic renovation approach: "The Social Holistic Retrofit".

We develop the "sweet spot" renovation solution, which prepares social housing for 2050 and this in the most efficient way, using 3 perspectives at all times:

what is good for the residents,

what is good for the climate and

which is good for the financial continuity of the social housing.

By exposing the real performance in the above domains, we not only want to use a life cycle approach but also a learning cycle approach, which can very consciously establish the relationship between the solution and its impact.

In other words, we will provide a concrete, affordable and scalable solution:

(1) develop, implement, and monitor and optimize the technical solution;

(2) influence their affordability through efficient material choices, implementation methods and innovative revenue models;

(3) as well as mapping and optimising the environmental impact through circular solutions;

(4) be social by maximally involving, coaching and guaranteeing energy savings among residents.

We want to develop and demonstrate the solutions in our neighbourhood in Munsterbilzen.

We will develop the most efficient renovation solution with insulating interventions and techniques that allow the homes to be decoupled from fossil fuel.

To realize this project, we are looking for an innovation partner who can fully assist us in the research, design and implementation of the renovation and who will pay specific attention to the social, technical and economic interests.

On the one hand, the intention is to realize and implement a design that would make the energy bill of the residents low possible and concretely demonstrate and guarantee by means of a performance contract.

On the other hand, we are looking for renovation solutions that can optimize Cordium's business model by keeping the renovation costs as low as possible and/or integrating solutions with innovative services, which is guaranteed to increase Cordium's income,

such as: heat as a service; offer flexibility to the distribution network; ...

In concrete terms, we expect our innovation partner to propose a multidisciplinary team that can fully assist and strengthen us in the following aspects of the project:

- Research into, design of, and realization of the most efficient renovation solution

- Monitoring, analysis and guarantee of the real energy savings resulting from the renovation

- Support in techno-... (see order documents)