This was primarily due to improved performance from the Singapore portfolio with the absence of cyclical works. Positive rental reversions achieved for renewal leases in Singapore and North America with healthy occupancies in the Singapore Portfolio and Japan Portfolio. Increased Overall Portfolio’s weighted average lease to expiry (“WALE”) with the successful backfilling of 2301 West 120th Street, Hawthorne and the lease extension at 1400 Kifer Road, Sunnyvale. Advancing portfolio rejuvenation strategy through targeted divestments and disciplined reinvestment into properties that enhance portfolio quality and long-term returns. Gross revenue and net property income for 1QFY26/27 decreased by 7.7% and 8.5% year-on-year to S$162.3 million and S$122.3 million respectively. This was mainly attributed to the absence of income from the portfolio divestment of three industrial properties in Singapore. Borrowing costs decreased by 24.6% year-on-year to S$18.5 million in 1QFY26/27. This was mainly due to the repayment of loans with proceeds from the Singapore Portfolio Divestment and perpetual securities issuance as well as lower