Today, we have CEO and Managing Director, Kesh Nair, and CFO, Marc Lichtenstein. We have a Q&A function at the bottom of the screen, so please ask your questions there. I will now hand it over to Kesh to take you through the presentation. Thank you, Daniel. Welcome, everyone. Thank you for joining us today. As Daniel mentioned, we've got Marc and me as well. We're presenting the FY 2026 results. Today's presentation, we're essentially going to be discussing the reset of the business, transformation, and restructuring, and what we've done to essentially produce a healthier balance sheet compared to what we have previously reported. We've acknowledged the challenges of the past and taken full responsibility in addressing these issues within our control. But having said that, we've worked really hard in what has been a tough year. In FY 2026, we've had to make some strong decisions to essentially simplify our business structure and also look at exiting some of our underperforming businesses, such as Alliance Paper and O F Flexo. Alongside this, we've also experienced some market dynamic changes in our ITAD business, particularly in America, ISP Tek. We've experienced some commercial challenges, where we saw the ISP business couldn't really fit into our operational structure, as well as perhaps our commercial structure as well, given the state of our balance sheet. From a commercial perspective, it was appropriate to look at divesting ISP and further reduce the risks in our balance sheet. In addition to that, we've successfully restructured the convertible notes with Sammy and Daniel, which was really important to the business. It gave us certainty in our capital management going forward. Alongside this, it helped us look at the business better and create better foundations. Then just summarizing FY 2026, we've stopped the cash drain of the underperforming businesses. We've used the proceeds of the ISP divestment as well as cash reserves to essentially do an aggressive pay down of our debt, which, when you combine with the senior notes, it's materially changed our balance sheet, reducing our net debt from AUD 38 million all the way down to AUD 18.3 million, thanks to some of our convertible notes. What this really means is we've created a platform for our true organic growth for continued operations. But it's very important to say that the turnaround is not the conclusion, it's not our destination. It's a platform that we're using to propel us into FY 2027. We've done an extensive review of our businesses to understand what works, what doesn't, and created specific strategies for our divisions to firmly focus on debt reduction, increasing our quick cash conversion, and of course, increasing shareholder value as well. Moving forward, Daniel, into our business overview. We have two primary divisions now, Resource Recovery and the Packaging divisions, where we are still going to look at some ITAD regions where we believe there are good margins, as well as shorter cash conversion cycles. Basically, if it makes sense to the business, we will proceed. But really, as you can see from the results, Packaging has been the primary growth engine. It is a clear standout performer. We have a very good sales team that delivers every year. The results are showing this 10% revenue increase, as well as an EBITDA increase of [48%] in FY 2026. It is great. It is a business where our customers really like us because we provide an end-to-end solution from designing packaging to creating packaging. We have gone into premium products such as bulk bags and pouches. And we are confident this will continue in FY 2027. As for our Resource Recovery division, it has a global collection network. It is quite extensive. It has 260,000 collection points. We are continuing to collect products, such as printer cartridges, cosmetics, and do recycling and reuse of these products. But we are also really focusing on bespoke logistics models and customized data capture capabilities, which not only does it help from an ESG compliance perspective, but it also helps our customers create quite a competitive value change that they can take on to their customers as well. I will move it on to Marc now to talk about the continued operations and financial results. Thank you, Kesh. I just wanted to touch on the highlights, and I will get into some details as we go through the presentation. The key points here on this slide are very much a very positive outlook and a good performance for FY 2026, in spite of the restructure of the business. And the reason for that is we report on continuing operations. So any of the businesses that we got rid of during the course of the year are classified as discontinuing operations and essentially get excluded from the numbers, and I will talk to that in a bit more detail as we go through. But most importantly, our revenue is up. So this is from the businesses that we had last year and the same businesses for the full year this year. So that was the AUD 125 million. That is where you see it is up almost 6% from the previous corresponding period. What is pleasing is our gross margin percentage has gone up from 31%- 36%, which then drives the gross profit increasing overall. So that is a good outcome. And on the back of that, with an increased gross profit and an increased gross profit margin, naturally, our EBITDA has increased, and our EBITDA has increased by 34%. So that is a good outcome for the business. And the EBITDA margin itself has increased. As we have said in previous presentations, to some extent, we are a volume-based business. We put more in the funnel at the top, more comes out the bottom, and our cost base is relatively static. So that is where you see the gross profit margin increasing. As we get more growth in the future, we will expect that gross profit margin to rise to levels where it has been in previous corresponding periods. NPATA, which is net profit after tax and amortization. We take the net profit after tax, and we add back the amortization component. This was a very important number in previous periods when we owned the ISP Tek business and with all the intangible assets that we had recorded on our balance sheet. At June 30, we have written off a number of these in result of the sale of three of the businesses and the restructure of a fourth business, and I will talk to these in a bit more detail. The NPATA is still a positive number, and it has moved to a positive number from a loss position in previous periods, which reflects the improved performance of the business. Daniel, as we go through to the next slide. This financial year, if you take a look at the snapshot, where is the area that we focused on? The key has been about the portfolio reshaping. It is the sale of the ISP Tek Services, Alliance Paper, and O F Flexo businesses, which all three of those were divested during the FY 2026 period and form the basis of the results from discontinuing operations. These get excluded from our overall result. We have also restructured the plastics recycling business. That was a very important exercise that we undertook during the course of this year, where we had three sites and we rationalized them down to one profitable site. Again, we will touch on that as we go through. As I said, the continuing operations, which is the rest of the business, has grown by 6% in revenue and grown at an EBITDA level and grown at a gross profit level in both terms of absolute dollars and percentage points. Remember, we pay our bills with dollars, not percentage points. It has grown in both parts. The other key point that I will touch on, I will get into a bit of detail, but that is really the key focus has been the net debt position. Perhaps this is a good time to talk about our net debt because our balance sheet had to be restructured during the course of this year. We have managed to achieve that with the sale of the three businesses. We have been able to pay down a substantial amount of debt from the proceeds that we received from the sale of the three businesses, as well as additional cash that we had sitting on our balance sheet, which allowed us to reduce our debt by approximately $16 million. The reason I use U.S. dollars is because our debt initially was classified as U.S. dollars. Post-year-end, there has been a further reduction in debt because our convertible notes, we were able to restructure them, and the shareholders agreed on July 9th with our process of restructuring, and we converted a big chunk of the convertible notes into shares. I will talk to this as we go through the slides further on. Our net debt after year-end is reduced by a further 52%. Our net debt is only AUD 18 million, which makes our balance sheet very much stronger. I will hand back to Kesh to talk about the strategic initiatives, and I will cover more on the financial piece as we go forward. Thanks, Marc. Echoing Marc's commentary there. In terms of our strategy, we are still quite consistent in our five pillars. They are still designed to gear towards organic sales growth, creating operational efficiencies, and increasing free cash in the business, and obviously, ultimately providing sustainable returns for our shareholders. The goal as a business, we still want to be in the Packaging and circular economy space moving forward. We are aggressive, innovative in terms of the products we have created from our packaging solutions, where we have converted jars into pouches to help our customers with their supply chain costs, as well as TonerPlas, where we are getting end-of-life packaging materials and toner from printer cartridges to create sustainable products for the market. That still will be the focus of the business moving forward. But really, the underlying strategy is to really focus on how we manage these goals that we have. Got strong KPIs for sales, strong KPIs around how we manage cost going forward. If you go to the next slide, Daniel, I will pass it on to Marc to talk to the first initial points, and I will come in towards the end. Thank you, Kesh. We talk about Packaging performance and how are we going to improve Packaging performance. Well, we have seen some good growth in Packaging performance, particularly over the last quarter of FY 2026 and into FY 2027. But we have managed to invest in the sales team. We have invested in people. We are also focusing on increasing our customer share of wallet, so make sure they buy more from us. That is what we mean by share of wallet. Can we get more out of their cash and out of their available resources? We are looking to leverage the South African and Australian businesses, that gives us more buying power. There is a lot of similarities between the businesses and making sure that we share the knowledge and know-how that we generate in each of the businesses. As part of sharing that knowledge and know-how is to continue to invest in R&D. R&D is what keeps us ahead of our competitors, which gives us our competitive advantage in the marketplace. For example, if we are doing development in South Africa, let's see if we can replicate it in Australia or vice versa. So those are the key pieces of the Packaging performance, investing in our people, investing in our capabilities, managing to get more from the share of wallet and an R&D component. Then if we look to improving our cash conversion, that is something that we should always be doing as a business. It is good corporate governance, it is a good way to operate the business. It is really about a focus and measuring people and KPIs and making sure we collect our debtors on time, making sure we use terms that we have available from our suppliers or that albeit paying within terms. Nonetheless, making sure we have a focus on cash flow and cash flow conversion. What we find is that we focus on cash conversion and our collection terms improve over a period of time. We have seen that in some of our businesses where we have focused on that, and we have been able to bring in our debtors days significantly over the FY 2026 period. Now that we have been able to do that in some businesses, we need to replicate that across the entire group. Albeit it is often challenging with OEMs, as we call them, original equipment manufacturers, the likes of HP and Xerox and Brother and those sorts of big conglomerates. Quite difficult to bring in your collection terms, but it is something that we focus on. Because they always pay you, but they pay you on their terms, not your terms. That is one of the challenges dealing with these large multinationals. So cash conversion is right at the front of the queue of where we need to focus as a business going forward for continued improvement. Kesh, I will hand back to you. Just to touch on the Packaging piece there. It really comes down to how well we execute sales, and we are constantly working on our sales processes, training to refine our craft, and really recruit people with intent, to ensure we are getting the right hunters and salespeople to build a strong pipeline. Over the years, we have done a good job in relationship building and delivering reliable service to our customers. From that, just want to make a callout to the South African Packaging division, where they have done a great job on increasing their revenue by 38%, and also their EBITDA is up by 42% to the direct result of the hard work the guys have been doing over the years. So we are good to see. The OEM expansion, so we have got 260,000 collection points. This infrastructure is predominantly geared to collect printer consumables. We're also looking at getting e-waste products, cosmetics, and growing that market. If we're at the site and we're already collecting printer cartridges, we can also collect e-waste. What this does is keeps our cost of logistics relatively low, while we're on site, and we can add on more products and therefore increase our revenue but keep our cost base relatively low. We also are looking at moving into bespoke refurbishment processes. Currently, when we collect consumable products, we do data capture, and we essentially shred it, so they get destroyed. We want to move into the space where we can reuse the product. This creates a better commercial outcome for our customers, so they can recirculate the same products in the supply chain. It also enables Close the Loop to charge higher margins for these premium value-added services. In terms of cost efficiencies, Marc touched on earlier, we're always looking at how to manage our costs better. We're not only looking at cutting costs down, we're also looking at optimizing costs. Particularly in our U.S. plastics recycling division, we're able to consolidate sites and reduce the overhead. Essentially, we had about three facilities. We've now consolidated that to one facility, which has given us more capacity but also a better profitable outcome in that division. Our recycling plant in America is delivering a 30% labor gain, which basically means it's increasing throughput, so we can have greater volumes coming to this site without adding much cost in our labor force. Managing labor and logistics, it's really important for the recycling divisions because it directly impacts the gross profit for those businesses. This will be a key area of focus moving to FY 2027. Packaging divisions, whilst mainly streamlined, we're continuing to do software integration to streamline the administrative costs, which enables free time for our sales and customer service teams so they can focus on customer relationships and building a stronger pipeline. Over to you, Daniel. Thanks, Kesh. Now we talk about the financial statements. This is the bit where I watch the numbers of all the participants disappear because they think it's boring. We're talking about accounting standards, but I get excited. Let's talk about the financial statements, and let me just explain that again, about what I mean by continuing operations and discontinued operations. The accounting standards say that discontinued operations, if you sell a business, you get rid of it. You don't count it. When we look at the revenue, you say AUD 118 million. How is that possible? What happened to ISP? What happened to the other two businesses that we sold, in Alliance Paper and O F Flexo? Well, we don't count it. It goes below the line, it disappears. What that means is the AUD 118 million for last year, that's our continuing operations. For the same businesses, like for like, we did AUD 125 million. That is how we get what we talk about continuing operations versus discontinuing operations. We are trying to compare like for like, and that is what the accounting standard says we need to do. Hence I touched on, that is why you see the increase in revenue. Our core business, the businesses that we go forward with, have grown. They have shown good improvement at both the gross profit level, at a revenue level, at an EBITDA level. That is a good story for us. Included in these numbers is the cost that Kesh touched on, the cost of restructuring the plastics recycling business. The cost associated with closing down those two facilities are included in our profit for the year. Because that is not classified as a discontinued operation, we got rid of the business, we just changed the business. That is included in there. For the savvy readers of our financial statements, and those who could not wait to get their hands on them this morning, they would have looked at the segment note, and they would have seen, "Hang on, you have made a loss in your Resource Recovery business. What is going on there?" Let us just jump to the chase for that one. That is the restructuring costs associated with plastics recycling, and the head office costs, because historically Close the Loop had some Resource Recovery costs going through the holding company. For its sins, the holding company costs get put in Resource Recovery. The Packaging side gets a little bit of a free kick, so to speak. The Packaging profit is slightly overstated in the segment note, and the Resource Recovery is slightly understated. Nonetheless, we report as a consolidated group, and it does not really matter in which bucket everything goes. The key number is that we had a AUD 12.4 million EBITDA. That is the main thing that we wanted to show here. Obviously, you will see our depreciation. Amortization has decreased quite substantially year-on-year. That is because we wrote off at December 31, we wrote off some of the intangibles associated with the restructure of the plastics recycling businesses. As I touched on before, NPATA used to be a big number for us, and very important for us to say, what is the true position of the business. As we go forward, net profit after tax will be the true number that we look at, because all those intangibles are going to disappear from the business combinations, because we have disposed of those businesses. Overall, even after net profit after tax, we have made a small profit of AUD 31,000. We have been profitable for this year in spite of having a year of restructuring, and re-performing, and right-sizing the ship. We still managed to be profitable. The future looks positive as we go from this. Then you will see the final bullet point here, the loss from discontinued operations. You say, "Well, how did you lose AUD 105 million?" That is the intangibles that we were carrying on the balance sheet that we had to write off. We wrote those off because we got rid of those three businesses. The accounting standard says you must pull out your profit from discontinued operations and show it separately, what we call as accountants below the line. That is the AUD 105 million that we have lost. That really is book entries. We did not lose AUD 100 million in this current year, and you will see that as we talk to the balance sheet. As we go to the balance sheet, you will see here probably the most important numbers on this is what has happened with our net debt position. I touched on that earlier. The key point here is that you will see our net debt has gone from AUD 53 million down to AUD 38 million. Then as we put in this morning's announcements, reduced a further amount to AUD 18 million. There is a further almost AUD 20 million reduction that has occurred effectively on July 10th. That is because we renegotiated and settled on the convertible notes. If I can remind everybody at this moment in terms of what we did. We sold ISP, we sold Alliance Paper, and we sold O F Flexo. We took the proceeds from those businesses and paid down debt. We also had some excess cash, which is why you see our cash balance going from AUD 32 million down to AUD 16 million. We took AUD 10 million of cash and decided to pay down debt at the same time as we settled on the ISP Tek Services business on May 19th. Thereafter, we also renegotiated the convertible notes. If you recall, we had two convertible notes of $7.5 million each payable to Sammy and Daniel Saloum, who are related parties. We agreed to settle the first note by converting it into shares at AUD 0.37 per share. We also agreed to settle the second note by way of a conversion at AUD 0.20 per share, and a balance of $4.5 million that would be paid in cash. That $4.5 million would be paid in cash. The first $2.5 million will be paid at settlement when we go through our refinance. We will talk to the refinance on the next slide when we get there. If you look here at our balance sheet, you will see all our borrowings, everything is current. It was current last year, and that is because we breached our bank covenants. We have complied with our bank covenants this year, and so in theory, we could have carried our borrowings as non-current borrowings for a big chunk of that. Because we have indicated to the market, and our bankers, PGIM, have indicated that we will complete a refinance by December 31, we have decided and elected that all the borrowings should be classified as current, because they will be repaid in the next 12 months. Even though we have a facility that expires in 2029, and we continue to have the ongoing support of our bankers. We are looking to change bankers, and we will talk about the implications of that. That is a key point, and the key focus here is the borrowings, the net borrowings, the strength of the balance sheet. Naturally, people might notice and say, "Well, why has your inventory gone down from AUD 24 million- AUD 6.3 million?" That is because of the sale of the ISP and Alliance Paper businesses, which had strong inventory amounts. To confuse people even further, we restate the income statement for continuing and discontinuing operations, but the balance sheet remains the same as what it was at June 30 last year. That is just a test to see if anybody is still listening, and I will ask questions afterwards. As we go forward, you see that our covenants were reset during the course of the year. We have complied with all our covenants June 30. Our net debt really is the big story here, which has improved. If we go forward to the cash flow slide, please, Daniel. The key point here is perhaps the focus where over the years gone by, the analysts always chased me and said, "Marc, your quick cash conversion rate, and how does that work?" It needs to be 100% of EBITDA. What we are saying is that the cash receipts that we receive from customers less the payments to suppliers, and you have a net difference there, divided by the EBITDA, gives you what we then call a quick cash conversion, which you will see here is 90%. It has improved from the previous year. Here is a good example where you see, you look at your cash receipts. Last year, AUD 204 million versus AUD 135 million this year. We do not restate the cash flow statement. But what we do see is that our quick cash has improved year-on-year. Another key point to focus on is the CapEx. Our CapEx has reduced from AUD 3.3 million- AUD 2.4 million. I have always said historically that our CapEx will be similar to our depreciation. Well, I am happy to announce that I think our CapEx over the coming years will be less than our depreciation. We have made all the investment in the businesses that we needed to make over the recent years. If we actually go back to 2024, our CapEx spend was AUD 10 million. I have said before on previous presentations that when we invest in Resource Recovery, where the vast majority of our capital expenditure goes, we invest in equipment that we might write off over five to seven years. But actually, in reality, the equipment lasts 10-20 years, and it is really maintenance that we incur some costs. If you look after these pieces of equipment, they last for a very long time. That is where we start to see the benefits now, where we have taken the pain in previous years. There is not significant capital that is required to be invested in the various businesses. Our most recent investment was made in the plastics recycling business, and that has been well reflected in the improved performance of that business since that new capital investment has come online, and that has improved the profitability of that business. That has been very pleasing to see, that our return on investment is coming to life and it was not just a piece of paper. It is actually showing through the actual results and cash generated by that business unit. We would expect our CapEx in future periods to be in the range of AUD 1 million-AUD 3 million. But we do not think there is significant capital that is required to be invested in the business. Our maintenance is maintained by people on staff. It comes through salary and wages rather than having to be outsourced and seeing it being capitalized. I've touched on already about the disposal proceeds being used to pay down debt. The other one is the lease payments being lower than previous periods. We have fewer facilities. I've touched on the plastics recycling facility, but we've got rid of a couple of facilities across the group and been able to streamline the business, which makes our lease payments decrease. I wanted to touch on our capital management. I've touched on the borrowings and all that already, but I want to reiterate that we are well advanced in our refinancing process. We've told the market that we would be refinancing by December 31. We completed our pre-lending refinance review last Friday. We're well advanced with a couple of major tier one banks. That will allow us to make some significant savings in the interest rate that we are paying. We're expecting between 350 basis points and 400 basis points or 3.5%-4% savings in the interest bill. Obviously, we have a slightly lower borrowing amount that we'll be going forward with, but nonetheless, it's a significant saving to our interest expense, which is a true cash, positive outcome for the business as we go forward. That's the key financial piece that I will hand back to Kesh. No doubt there might be some questions on the finance piece as we go forward. Thank you, Marc. So far, everything we are doing in FY 2027 or everything we've done in FY 2026 as well, it's all designed to build a better sustainable business model, and increase shareholder value for the long term. The key word there is long term. As Marc mentioned, we've got cost-heavy areas like Resource Recovery, which we're actively managing. Those businesses have factories and a large labor force that do processing of these recycling products. So we're making sure we're focusing on initiatives that can streamline the cost in those areas. We're also making sure that every dollar that we're spending on working capital is used sparingly or intelligently where we can. We know it's got a quicker and a more profitable return, which has been a key learning over the year, over the years for us. In terms of the top line, we're investing in smarter systems around software for Packaging divisions, as well as procurement and innovation. Particularly on procurement, where every day we're focusing on restructuring procurement to buy as a single company, as a unified group, which helps us unlock better purchasing terms, as well as help us manage our cash better as well. We're pivoting into selling high-margin products and expanding into new regions. We've recently gone into New Zealand. We've got a small sales team there that has already shown positive results, which is just great to see. Packaging is a division where the sales processes can be quite easily replicated, because we've refined the art of from quotation to manufacturing really well. It is a business where we feel like we could quite easily move into new regions, and that will be a key focus moving forward into FY 2027. All these initiatives, they are all designed to reduce debt and improve our balance sheet and provide better returns for our shareholders. I will pass it on to Marc now to go on to the next slide to talk about forecast and outlook statement. Thank you, Kesh. The key point here is about strengthening our balance sheet. We have taken the last year, FY 2026. We are not 100% of the way there yet, but we are a long way towards the restructure of the business, restructuring, strengthening our balance sheet. In order to do that was about the ISP Tek divestment. We sold the business for $9 million. That was paid at settlement, and then a seller note of $1 million. Those proceeds went straight to our financiers to reduce debt. That was a big step through the restructure. We continued with our debt reduction post end of the year, with the restructuring of the convertible notes that I have touched on already, and then the refinancing funding costs, I have touched on that already. I guess some savvy investor is going to ask me, "Well, what does it mean when you reduce your debt for 3.5%- 4%?" Overall, the back of the envelope amount says your interest bill will decrease by about AUD 1 million, in terms of. I can go through that in more detail later on. That is really a key point that it is cash that we do not have to spend. That is a key point. The real key focus areas was the divestment, the debt reduction, and the refinancing, and the refinancing will be done in the first half of FY 2027. Kesh, back to you. Thanks, Marc. Marc had mentioned debt reduction quite a lot as well as me. It is really important to emphasize the benefits of that because what it has done is created a platform for the divisions to excel in FY 2027, and focus on the actual organic growth without worrying too much about how we manage our capital going forward. It is something we are going to stress on throughout this presentation. More importantly, it has given management the flexibility to really zero in on the underlying performance of our core business and really work out what is working and what is not, and how to create intricate strategies to improve the profitability of those businesses. We do believe we have created a much stronger foundation for organic growth, and the next phase is all about execution. The business reset is good, but now we really want to focus on reliable earnings and reliable revenue and cash generation moving forward. I will pass it back to Marc to close off the forecast statement. Thank you, Kesh. We wanted to reiterate our guidance through this process. Previously, when we sold the ISP business, we had announced that we expected FY 2027 EBITDA to be in the range of AUD 14 million-AUD 16 million pre-AASB 16. That means before we adjust for the rent. AUD 14 million-AUD 16 million will produce strong free operating cash flow for the business. That is after paying interest and any debt that would be required of a new finance facility to be repaid. So we would still have some quite significant free operating cash flow. That then ties in, what does the board think and consider for its capital management options? The key capital management option in the first instance is to continue to reduce debt. That has to be the key focus for the business, reduce debt, and in the medium term, they can think about dividends, share buybacks, or any other form of capital management. But the initial reaction is pay down debt as quickly as we can. That, we think, will produce the best return for shareholders over the medium to long term. We are continuing to see growth from both our Packaging and Resource Recovery divisions. Our businesses have started off very well. As we said, quarter four was good and the first six weeks of trading have been excellent across the entire group. All the businesses have started off very well. That is a very positive sign, and if we can reach our AUD 14 million-AUD 16 million EBITDA guidance, then we would be in a net debt position of absolutely less than 2x at AUD 16 million, based on a refinance and paying down debt during the course of the year. That is 2x EBITDA without taking into effect the cash and additional cash that will be on hand. So that is why we talk about 1x-2x EBITDA through this piece. But that is really the key points I wanted to focus on. I have touched on the CapEx already. I have spoken about capital management. We certainly have been through the metrics of the convertible notes. As I say, reducing the debt post-year-end as being the big talking point that is not necessarily in the annual report, although it is in the subsequent events note. Daniel, I do not have anything else to add. We want to take a couple of questions, please. Thanks, Marc. We have a number of questions that have been asked. The first question is on the debt and the capital structure and the refinancing. So debt position post the convertible note settlement and then the interest cost savings from that debt restructure. Yes, I touched on in the presentation, so I will just go backwards to the potential cost savings. That was the 3.5%-4%, in terms of the interest, which was calculated out to approximately AUD 1 million, maybe AUD 1.1 million, it depends how you do the calculation, in terms of interest savings during the course of the year. The net borrowings, as we indicated, have decreased by a further AUD 19.8 million post year-end, which is really the convertible note component that has converted into shares. And obviously the reduction in debt gives us an AUD 18 million net debt position at the end of the period, which is made up of essentially AUD 19 million worth of core PGIM bank debt. That is in U.S. There is a small component of the convertible notes that still has to be repaid. Some of it will be paid at settlement of the refinance, and then a five-year interest-free loan to the tune of AUD 1.75 million, although the first payment is only paid 12 months post-settlement. And then obviously there is a cash component, and our cash balance has remained steady at AUD 16 million. I will also remind everyone that we paid back the required payment of debt reduction on July 1st. So we paid AUD 750,000 on July 1st of our core debt, and our cash balance has remained constant in spite of paying down the interest and the debt on July 1 rather than June 30, which shows the free cash that the business has continued to generate in the first six weeks of this trading period. You are on mute, Daniel. Further debt reduction, how much further can that debt fall on delivery of the FY 2027 plan? Well, we haven't gone into the market to make an exact number as to what the FY 2027 number looks like. Assuming that we will pay down a couple of million dollars of core debt as per the requirements, depending on what the refinance looks like. Let's make an assumption we pay down AUD 2 million of core debt in the first year. There will still be a good few million dollars worth of excess cash. That will reduce our net debt position even further. As I say, AUD 2 million plus the additional cash generated from earnings from EBITDA. So anywhere from AU 2 million-AUD 5 million. I have a question here on the ISP Tek divestment. What was the exit rationale and the benefit to the group in doing that transaction? Yeah, the exit rationale was in relation to, we had a number of large players coming into the market, what we call the term market encroachment. There's a lot more competition in that space with bigger players with bigger balance sheets, and the market was changing upon us. Whilst the business performed exceptionally well in the first few years that we owned it, we saw a change in the market. We saw bigger players coming into the space with bigger balance sheets who were prepared to take bigger bets, and we thought it was most appropriate that we're not able to compete at the same level with those folks, and it was best to exit the business as best we could. Can I just add to that? Sorry. Can I just add to that as well? The bigger businesses that Marc is referencing, these businesses have plentiful cash reserves, so they can essentially buy products at a higher price and also wait for a very long time to get a return, sometimes beyond 90 days or 120 days. They're doing this quite aggressively in the market to capture it, and the market is heavily moving into that as there's more assets being developed, particularly given the AI growth. That's the market dynamics that we've seen really impact on ISP. Earnings and outlook. Resource Recovery in the FY 2026 result, the FY 2026 segment loss in Resource Recovery, and what sits inside that? Yeah. As I touched on in the presentation, Daniel, that is the head office costs that sit with inside Resource Recovery. So that's all the corporate costs, all the listing costs, some of the executives that sit in that space, as well as the restructuring costs associated with the plastics recycling restructure that occurred during this financial year. So those two items. Going forward, we'll probably always see the Resource Recovery segment profit understated slightly because that's where the head office costs sit. As I said, the Packaging side of the business gets a little bit of a free kick because it gets some of the services, and the expertise, knowledge and know-how from executives that are involved in running those businesses, but their salary and wages and other components are covered by head office, which sits in the Resource Recovery. It could be anything from license fees of IT equipment to listing fees, audit fees, all sorts of things which, if the Packaging business was a standalone business, it would have to incur some of those costs. So we don't reallocate all the costs as an exact science, because as far as we're concerned, it's one bucket at the end. It is Close the Loop as a group, as one entity. Yep. Normalized earnings. The underlying earnings profile post-restructuring and portfolio reset. What does that look like? Well, that is what we have indicated. The portfolio reset really is the guidance that we set for next year. That is the AUD 14 million-AUD 16 million. That is the AUD 14 million-AUD 16 million EBITDA guidance based on the growth, based on how the business is performing today, based on all the various businesses making a positive contribution. Businesses that were not profitable, that were not making good contribution, have been restructured or disposed of in FY 2026. FY 2027 EBITDA bridge. What takes EBITDA from AUD 12.4 million in FY 2026 to the AUD 14 million-AUD 16 million guidance in FY 2027? Yeah, so that is the growth that we have seen starting to come through. We have made announcements previously about businesses winning tier one customers, and particularly in the Packaging space. It is the growth that we have seen in the last and the work that has been done in FY 2026, where the results are starting to be shown in FY 2027. So it is the natural performance of the business as it grows and moves and matures over a period of time. So that is why we have given that conservative guidance. In terms of current trading, whether the improvement since March is continuing and July trading. Yes, I will talk to that one, Kesh. Absolutely, the first six weeks, and I indicated this in the presentation, I obviously indicated that by way of the analysis, where our cash balance, in spite of making a large quarterly repayment to our financiers, our cash balance remains in line with where it was at June 30. So that is a clear indication that the business is producing free operating cash flow and performing well in the six-week period for this new financial year. We have a very large order book in some of the businesses. We are seeing a lot of forward momentum, positive momentum, across the group. I do not know if you want to add anything to that, Kesh? No. We have a question on operations, Packaging, and recycling performance and the FY 2027 plan. So drivers of the stronger Packaging result and the FY 2027 plans for recycling and Packaging. Yeah. So I can take this one, Marc. As Marc touched on, actually speaking to the tier one customers, we have had relationships over eight years, and the tier one guys and now those relationships are coming to fruition, so we are able to see a large increase from that customer base and increasing the share of wallet. As well as expansion going into New Zealand. We believe that is going to be a strong revenue base in the future. For recycling divisions, for these divisions, it is managing the costs. We have a huge labor force. There is machinery costs, so we really want to be diligent and frugal on how we spend on labor and machinery maintenance and so forth. That is where we are going to see the real difference. As well as diversifying more and more into products like cosmetics, which have a higher profit margin compared to the printer consumable programs. Diversification will be a key focus as well to ensure we keep into those. OpEx recycling site consolidation, what are the savings from the recycling- Yeah, I can talk to that one, Kesh. ...site consolidation. The savings there were, originally, we were running three sites. This is Close the Loop plastics recycling. We were running three sites in the U.S., and essentially what we did was we consolidated the sites into one. Some would say it was like eating soup with a fork in some of those sites. We got plenty of volume, plenty of revenue going through, but actually, the more we put through and old equipment was inefficient, and we're losing money. The best idea was we made an investment in further equipment in the one site that is very profitable. It's proven to be the correct decision because of the performance of that site over the last two or three months since that new equipment came online. We took the best of the contracts and moved them to the one facility. We got rid of underperforming sites, underperforming old equipment that was either sold or scrapped, or some of the programs where it was volume but with no profit, we just decided not to continue on with some of those contracts and engagements. We've cherry-picked the best of the three sites, consolidated it all to our one site, in Fostoria, with a new piece of equipment that required some additional volume, which is why we could move some of those contracts to that new site because we more than doubled capacity of the previous facility with the new equipment coming online. That's proven to be really successful with that machine now running two shifts. There's an option to even go to a third shift, but once you're running a second shift in a manufacturing site, it starts to become quite profitable quite quickly. That's the big change rather than single shifts in three sites. Let's run two shifts in one site. Artificial intelligence? Kesh, want to add to that? Yeah. Just to echo what Marc's saying, we've already seen some positive results on that site since the last reporting period on the change. As Marc's saying, throughput is really important for that business, and based on the results we've seen recently, have a very positive outcome on plastics, which was the underlier in Resource Recovery 2026, and it's great to see that business coming around. Artificial intelligence, the efficiency benefit across the business. Yeah, I can take this one. AI is going to be a key focus moving forward for us, particularly because we see a huge improvement in how we process cartridges moving forward. There's a lot of processing costs associated with labor, as well as capital, to keep those lines running. With AI and how AI is coming to the market, where it's more affordable, when it comes to software development, we can really use our in-house expertise to see some operational gains there. It's quite a large project. We don't see this happening in FY 2027 immediately, but most possibly in FY 2028. It's a project where we've got in-house knowledge. All our software and programs that we've created within the business is in-house. Then we've got really good expertise where we can leverage that, so we're not paying for expensive software development costs. And in the Resource Recovery side, it will directly impact gross profit on the success of these projects, and in the Packaging side, it will give the opportunity for our sales guys and customer service to focus more on our Packaging customers. It will free up their time so they can build a stronger pipeline and more of the energy is spent on sales as opposed to administrative tasks. Daniel? That is all the time that we have for questions. I will hand it back to Marc and Kesh for any closing comments. Kesh, I would just like to thank the shareholders and those that are on the call for their continued support. FY 2026 has been a year of stabilization, of restructuring the business, and FY 2027, based on our guidance and our outlooks, looks a lot more positive, and we have restabilized the business, and it is exciting times ahead, and we thank everybody for their continued support. Kesh, did you want to add anything? No. Likewise, thank you very much to all the shareholders. As we have stressed in this presentation, that reset is not the conclusion of the business. It is just a foundation, and it has really geared us for FY 2027. We are excited to report to you guys at the end of FY 2027. Thank you. Daniel, can I just make one other point? If anybody has questions that we haven't had time to answer, we're happy to take them offline if they'd like to contact either yourself, Daniel, or I, and we can endeavor to answer the questions, provided that the information is in the public domain. Very good. I'd like to thank Marc and Kesh for the presentation, everyone who attended. Thanks again. Thanks.