Operator

Good afternoon, and welcome to the Stoneweg Europe Stapled Trust Q1 2026 briefing. We will begin with remarks from the CEO of the Manager, Simon Garing, followed by a presentation from the management team. We'll then open the floor for Q&A. [Operator Instructions]

Now, I will hand across to the CEO of the Manager of the Stoneweg Europe Stapled Trust, Simon Garing. Simon, over to you.

Simon Garing
CEO & Executive Director of Stoneweg EREIT Management Pte. Ltd

Thanks, Kara, and thank you to you, the investor, dialing in at your busy lunch time today. Joining me here is, Hui Chen, our Head of Finance; and Elena as our Chief Capital Markets Officer.

Today, I'm going to briefly reflect on our performance for the quarter. I'll outline some of the key drivers behind the results and provide an update on how our strategy remains focused on delivering stable, sustainable income and long-term NAV growth and shareholder growth for our security unitholders.

So to recap, the property portfolio is predominantly Western European freehold logistics and light industrial, underpinned by nearly 800 tenants with a long lease duration of 5 years. The property portfolio is currently valued at around EUR 2.2 billion over SGD 3 billion. The Netherlands is our largest country exposure deliberately at close to 30%, reflecting its role as a strategic European logistics hub and a strong high-tech-led economy.

Our focus remains on gateway cities, including Amsterdam, Paris, Milan, Frankfurt and Copenhagen. We now