Redefine Properties Limited (Redefine or the group) is a Real Estate Investment Trust (REIT). It has a sectoral and geographically diversified property asset platform valued at R101.2 billion (FY25 R103.2 billion). Redefine's portfolio is predominantly anchored in South Africa through directly held and managed retail, office and industrial properties, complemented by a strong presence in retail, logistics and self-storage property assets in Poland. Redefine's purpose is to create and manage spaces that transform lives. This goal demands more than a business-as-usual approach. It requires an integrated strategy that prioritizes people and purpose, guiding our decisions to ensure sustainable value creation for all stakeholders. By focusing on what matters most and executing on our strategic priorities, we aim to make a meaningful and lasting impact. Redefine is listed on the Johannesburg Stock Exchange (JSE) with a market capitalization of R49.9 billion (FY25 R36.0 billion). By volume, Redefine's shares are among the most actively traded in the SA REIT sector, making it a highly liquid, single-entry point for investors to gain exposure to the South African and Polish real estate markets. Redefine's local property asset platform is valued at R67.8 billion (FY25 R66.8 billion). The offshore real estate investments are valued at R33.4 billion (FY25 R36.4 billion), representing 32.9% (FY25 35.3%) of the group's total property asset platform, which provides geographic diversification through assets in Poland. The 2.0% decrease in the value of the property asset platform during the period was mainly attributable to foreign currency translation losses arising from rand appreciation as well as the part-settlement of the ELI loan receivable and the disposal of non-core assets. The decrease was partially offset by fair value gains on investment properties and continued capital and development expenditure across the portfolio. Redefine Properties Limited was incorporated in 1999 in South Africa.