Good afternoon, everybody, and welcome to Cordiant Digital Infrastructure Limited's Annual Report and Accounts. My name's Steven Marshall. I'm Co-Founder and Executive Chairman of Cordiant Digital Infrastructure. I'm here today with Andrew Ewe, who is the CFO of the fund. We will take you through our annual report and accounts today. If we move to the next slide. Another absolutely fantastic set of results. We've seen revenues grow by just under 10%, 9.9%, and EBITDA grow by just under 8%, 7.8%. As a result of that, we've also seen that our ex-dividend NAV from a year ago has grown by over 16%, driving our net asset per share to GBP 1.46. An absolutely fantastic result. For those of you that follow us, you'll recognize that the FCA approved us moving to the official list on the main market of the London Stock Exchange. Today we should be included in the FTSE 250 Index as a very significant part of that constituency. Last year, we also won Infrastructure Investment Company of the Year Award, after five years. A very short duration in comparison with some of the competing alternatives. We're very pleased to see that recognition in the marketplace. If we move to the next slide, for those that follow us, you'll recognize that we have six operating companies that we've now owned for some time. You'll see in the diagram on the bottom left-hand corner that it depicts really how our investment across the digital infrastructure space works together. We provide towers to the mobile operators, we connect them with fiber. They run to data centers, they run to homes and office premises. Then fiber runs to data centers from those homes and premises to connect the loop. A lot of synergies across the digital infrastructure space, which drives our revenues and our performance in this exciting sector. You'll see on the right-hand side, we enjoy the benefit of some very strong blue-chip customers that want access to our assets on a long-term basis. Because they want to do that, we want escalation clauses connected to various indexes, and that tends to drive a very predictable growing revenue and cash flow stream well into the future. If we go to the next slide. Not only have we had excellent results this year, we can point to substantially strong results over the last five years since the IPO. In fact, on a NAV total return basis, we've delivered 73% on the basis of the equity that has been raised of just under GBP 800 million. On a shareholder market cap basis, shareholders from inception have secured just under 52%, if you assume dividends were reinvested. Not only have we been a good custodian of equity capital, we've also raised debt to support our growing needs. We've either secured or refinanced that over the last five years to the tune of over EUR 1 billion. I thank Andrew, next to me today, our CFO, who has been the primary architect of securing that debt, which none of it is repayable until mid-2029. The graph there in the bottom left-hand corner shows a lot of the history in terms of financial performance. You can see that the revenues has nearly doubled over the last four-year period, and EBITDA has increased from GBP 105 million to GBP 175 million over that period. Driven by investing in core organic growth at construction cost, or investing in bolt-on acquisitions, or actually just providing great service to existing customers that want more and more product from us, or bringing new customers onto our asset base. If you go to the next slide, you will see here that our buy, build, and grow strategy continues to benefit the portfolio as a whole. Our businesses collectively have just shy of GBP 1 billion of contracted revenues, some of which goes out to 2044, which underpins a large part of our market capitalization today. We're conservative. We pay a dividend, we pay a progressive dividend, and that dividend is covered 1.7x by effectively free cash flow. This year, as a result of, I guess, a weaker share price some 18 months ago, this year we have actually delivered a nearly 25% total shareholder return to shareholders over that last 12-month period. We are Heavily invested ourselves, myself, my colleagues in the manager, and the non-executive board. We own 2.3% of the share capital, and we're probably one of the cheapest fund managers in that we're only charging less than 0.7% against our NAV. When we first IPO'd, we said we would charge our fees on market cap or NAV, and as we're at a discount to NAV, we are offering a very attractive charge for the service that we're offering. Despite some good growth in the share price over the last 12 months, we still believe that the business is undervalued. In fact, buying the shares today, you're actually effectively buying into a portfolio of businesses at a less than 10x EBITDA multiple. On this particular page, you'll see some examples of how buy, build, and grow is implemented. We bought BT Ireland's assets. We've bought a 2 MW data center in Warsaw. We've bought some other bolt-on acquisitions. We're building things at construction costs, whether it be an extension to the Žižkov existing data center or starting to develop the Prague Gateway, building towers for Orange, and expanding our radio networks in both Poland and the Czech Republic. On the growth side of the equation, we still have plenty of capacity across our asset base. Existing customers take more capacity. New customers come on and take capacity. We look to get them onto some of our new assets as we develop them as well. We do have exceptional growth this year at just on 10% revenue growth, as I've mentioned, and we've seen similar levels of growth, depending on the year, over the last five years. You can't always expect to get that level of growth. Sometimes we'll have less growth, sometimes maybe we'll have some more. I think on the next 12 months, we shouldn't expect to quite hit that level of growth rate over the next 12 months due to a little bit of customer churn. We go to the next slide. Not only do we have basic underlying activities, we have a number of strategic initiatives that will kick in to drive stepwise changes in our revenues and our profitability and our valuation over the next few years. Prague Gateway is obviously a big one. I'll talk about that on the next slide. We've also invested in another small edge data facility expansion in Prague, in the Czech Republic. We've invested in two new data halls in New York, as we've talked about before. We added the BT Ireland assets, and we're integrating those now, and we expect to see some good synergies. We're building out the mobile tower portfolio for Orange in Poland, and we're investing across our broadcast infrastructure network as we add additional capabilities that will help our customers further grow their revenues and wish to continue the service with us. There are a whole host of other initiatives at various stages of development that could drive additional revenue streams into the future, whether it be IoT, drone management, emergency warning systems for various governments, or even providing compute in our data centers as GPU as a Service, which we've already started to offer that in a very small way on a contracted basis to certain enterprises. Very early stage at this point in time. If you go to the next slide. The development of Prague Gateway, a 26 MW data center facility, is something really quite special for us. It will be our biggest development project ever undertaken in the last five years. You can see it is already under development. In the picture at the top left-hand corner, there's a picture of the site. The groundworks is almost complete, and there's an artist impression there of what the data center will look like when it's constructed in a couple of years' time. This will be the most environmentally efficient data center and pristine data center in the Czech Republic when it's been built. We can afford to fund the whole of phase one ourselves, around just over GBP 70 million. We will probably look to see whether we could sell down a minority interest to give us more capacity across the broader portfolio. Very exciting prospect here. These sort of facilities you can normally cost at around about EUR 10 million a megawatt, so a EUR 26 million would probably cost somewhere in the region of EUR 0.25 billion. A very significant development. A lot of interest from government, from Neocloud, and from enterprise, to the extent that the team now are actually looking at whether they can contract more power to be able to expand this facility maybe up to 40 MW, if they can get the power availability. We go to the next slide. I would like to hand over to Andrew Ewe, who will talk you through some of the financials. Thank you very much. Thank you, Steve. I'll start by quickly reflecting on our financial track record of the past five years since the IPO. We're very pleased to have outperformed a lot of the targets we set ourselves at the IPO in 2021. On a NAV basis, annualized NAV total return per annum has been 14% over the 9% target. This has been underpinned by very robust growth in revenues, EBITDAs, and free cash flow across the portfolio, benefiting from both organic growth and the highly beneficial impact of bolt-on acquisitions and the synergies that they bring. This has been achieved with a very prudent use of gearing. We calculate gearing on a see-through basis at both the fund level and the portfolio level. As of March, that was at around 40% of Gross Asset Value, or on a net leverage basis, 4.6x, which we believe is prudent. All of this has enabled us to pursue a progressive dividend policy. The dividend has been increased every year since the IPO. Over the past four years, the dividend has increased on an annualized basis at 10.4%. For the most recent financial year, we've increased it 2.3%, this is well ahead of the schedule we set ourselves at the IPO. This dividend is well covered, 1.7x as measured by Adjusted Funds From Operation, which is effectively free cash flow before growth CapEx, this has remained steady since last year. Next slide, please. Before I go into the details around the NAV movements for the year, I just wanted to remind the audience of our valuation approach and methodology. We conduct our valuations in line with IPEV guidelines. We primarily use a discounted cash flow approach, but we also review this in the context of market multiples and comparable transactions. These valuations are reviewed by an independent expert valuations team from a Big Four firm, who then themselves conduct their own valuations of the assets. These are then scrutinized and reviewed and approved by an independent board of directors of the fund, of course, audited externally. Looking at the NAV bridge for the year, starting from the ex-dividend NAV of GBP 1.274 per share, we achieved a total return, Steve said, of 16.3%. The primary driver of this movement was of course, the increase in the fair value of the investments, mainly driven by our two largest assets, Emitel in Poland and CRA in the Czech Republic. This was underpinned by strong EBITDA growth in the year, achievement of key strategic objectives. Looking at this table, the other value movement, which you can see is the key driver, that primarily consists of a roll-forward of the business plans and updates to the discount rates, as well as movements in net debt. This year, one of the key drivers of valuation growth was the inclusion of the development land value of the Prague Gateway data center development in the Czech Republic. There were some FX tailwinds, primarily due to the appreciation of the Polish zloty and the Czech koruna due to their strongly performing economy. Stripping this out, the total return for the year was 12.3%. Fund expenses for the year equated to just under 1% of net asset value when just looking at the recurring costs, which we believe is highly competitive. There were additional costs relating to interest expenses on our debt facilities in the year with an interim dividend paid. This all brought us to a NAV per share of GBP 1.46 per share. This equates to, on a Gross Asset Value basis, 10.7x the portfolio EBITDA. When measured on the market cap basis, that's under 10x. In terms of cash distributions in the portfolio, excluding the distributions we received from DCU through the syndication and the debt refinancing, there were approximately GBP 56 million in distributions comprising dividends, shareholder repayments, and share capital reductions from the portfolio. Next slide, please. Just turning to Emitel, the largest asset in our portfolio. Emitel in the year benefited from a local currency return of 13.8%. This was largely driven by roll-forward in the DCF, and the business outperformed its business plan for the year and achieved very good cash generation, delivering GBP 53.1 million in dividends for the portfolio. In terms of earnings, there was very good EBITDA growth of 7.9%. This was driven by inflation through index-linked contracts, new broadcast contracts signed in the prior year, growth in the mobile towers division, as well as good cost control for the business. Next slide, please. Now turning to CRA in the Czech Republic. CRA had an outstanding year. On a total return basis, CRA delivered 22.3%, or 14.8% before the effects of foreign exchange. Again, CRA benefited from roll forwards of the DCF and good earnings growth. One of the other key drivers for the business, as I mentioned, was the inclusion of the development land value of Prague Gateway, as well as the market value of real estate or land assets that it's holding for sale at the moment. Prague Gateway, the valuation was conducted by an independent third-party firm, and it's the first time we've included it in the valuation to date. Not forgetting, there were GBP 6 million of cash proceeds from asset sales in the year, with further amounts realized post-year- end with the sale of Ještěd Tower. From an earnings point of view, revenue growth of 2.8% was driven by growth in the broadcast business, OTT services, and data centers. This was offset by some churn that the business experienced in its cloud division earlier in the year, as well as some phasing of one-off revenue projects. EBITDA growth, however, was higher at 6%, due to good cost control as well in the business. Next slide, please. Turning to Speed Fibre, this is our wholesale and B2B fibre platform in Ireland. Total return for this asset was 15.4%. Within the valuation, we did start to see some of the benefits of the BT Ireland acquisition come through in the business plan. BT Ireland was acquired for a cash consideration of EUR 16.3 million. This is subject to further completion accounts work. However, we do expect to see some strong synergies and benefits coming from this acquisition further in the future. To date, we have achieved approximately EUR 6 million of cost savings already through the integration work of the assets. Adjusted EBITDA growth for the year of 8.9%, again, benefiting from the new acquisition made in September 2025. Next slide, please. Turning to Datacenter United. This is our data center platform in Belgium, which we acquired at the start of last year. This was done through a merger with the data center operations of the telco Proximus in the country. Last year, we did conduct a syndication of the asset to a third-party investor, through a fund of one managed by the investment manager. We did carry out a senior refinancing, which refinanced existing debts and raised some new CapEx facilities for the business. In total, this generated around GBP 30 million of cash distributions to the company. Notwithstanding that, there was a slight increase in the discount rate for the valuation of 25 basis points relating to an increase in the risk-free rate. However, this was offset by an increase in the fair value of the investment, benefiting from strategic developments that the business has been undertaking through upgrades to its facilities and investments in power capacity to enable further lease-up for the company. On a pro forma basis for the year 2025, the business generated EUR 13.2 million in EBITDA. Finally, Hudson Interxchange. This is our data center in New York. This represents less than 3% of the total value of our investments. The company had a promising year in terms of new sales. It's currently investing in two new data halls, and nearly 20% of this future capacity, which is about to come online, has already been pre-sold with ongoing discussions with other potential tenants for the business. There was capital injected into the business in the year to support this growth CapEx project, as well as to support some operating costs. There was an increase in the discount rate in the valuation, again, relating to the risk-free rate, as well as an asset-specific risk premium. We have continued to take a cautious approach in the business plan as we implement these new data halls, which we do expect to support revenue growth and a path to profitability for the assets over time. Next slide, please. Just turning to dividend coverage and growth CapEx. As mentioned, dividend coverage measured on Adjusted Funds From Operation remained stable. There was revenue and EBITDA expansion in the year. This was offset by increased interest expenses relating to debt drawdowns to fund new investments. There was some debt amortization as well relating to MSL's term loans at the end of December 2025. Nonetheless, we continue to pursue a progressive dividend, and we expect robust dividend coverage as we move forward. The Adjusted Funds From Operation figure excludes growth CapEx, which is a discretionary or an optional spend for the company. Growth CapEx is invested in very highly accretive projects, which should support earning growth over the medium to long term. Around GBP 50 million was spent on growth CapEx, about half of this related to data center investments. That included GBP 5.6 million relating to the groundworks and the sewage installations for Prague Gateway. There were further investments made in the Czech Republic for the expansion of Žižkov data center. In York, obviously, investment in the data halls and some CapEx at Datacenter United. There were some other CapEx, for example, investments in mobile towers relating to Emitel's build-to-suit program in Poland, for example. This total amount excludes cash that was spent on four bolt-on acquisitions, as well as the earn-out paid for the C4C acquisition at CRA due to the outperformance of that acquisition. Next slide. Just looking at the balance sheet. The key story here is it remains stable in terms of gearing and leverage with no debt maturities until 2029. We do believe the current levels of gearing are prudent when compared to market peers in the towers and the data center space. We do retain a good amount of liquidity to pursue growth CapEx and bolt-on acquisitions going forward. In total, GBP 220 million comprising cash and undrawn debt facilities. We do retain capacity to fund the first phase of the Prague Gateway development, but we are assessing additional funding options to complement this as well. Just moving on to the revenue mix. Again, through the acquisition of BT Ireland, fiber is now one of the largest revenue generators for the portfolio. The overall mix remains well diversified across a number of sub-sectors. Poland and the Czech Republic are the largest share of the revenue mix. We're very pleased to have been invested in those economies, which have seen appreciation in the currency and very robust economic growth with low levels of unemployment. In terms of inflation, again, the portfolio remains well linked to inflation with around two-thirds of total revenue linked either through fully indexed contracts or partially indexed contracts, and further supported by high EBITDA margins. Finally, just taking a quick look at the macro. Again, we see Poland, Czech Republic, Ireland, the three main geographies in the portfolio as very strong economies with robust metrics, particularly when you compare those to the EU average and the U.K. For example, looking at GDP growth rates, unemployment, debt to GDP, performing very favorably when compared to the rest of Europe. We do expect to see these economies perform well and provide further upside through foreign exchange against the sterling. With that, I'll hand you back over to Steve, who will give an overview of the portfolio initiatives. Thank you, Andrew. If we go to the next slide, we'll talk initially about Emitel. We do enjoy really two fantastic businesses in respect of Emitel and CRA. Number one, i n the marketplace in which they operate, strong competitive moats, very, very strong brands, attract really good quality talent, and similarly in Speed Fibre Group in Ireland. Emitel has contracted revenues of just over GBP 0.5 billion. Some of those contracts running out as far as 2044. There are a couple of initiatives that I would probably bring your attention to in respect of the future development of Emitel's business case. The first one is they've just acquired the 2 MW data center capacity in Warsaw. They're exploring the opportunity of following the same sort of game plan that has been so successful in CRA in repurposing some of their existing properties or land to make available edge data facilities to enterprise and government around the geography of Poland. We're quite excited about that prospect over the next three-five years. The other area with substantial potential is their ability, because of the structure of the marketplace, to build out their mobile telecommunications portfolio. They've got just under 800 towers at the moment. They do believe that there is a opportunity to nearly double that over the next few years. This is all on top of the standard business of broadcast infrastructure services that they offer to the big broadcast companies. You can see that since our ownership, the number of towers in the portfolio has grown by 27%, and the revenues coming from the mobile operators has increased even greater than that to 37%, largely because operators get onto a tower, they pay you an initial fee, and then they want more space over time, so they pay you more. Other operators come onto a tower when it becomes available and appropriate for them in their infrastructure. It drives a greater level of revenues than perhaps the basic tower count that you might see. If we go to the next slide, we've got the same sort of dynamics and characteristics across CRA and the Czech Republic. Again, a lot of contracted revenues, EUR 0.25 billion, probably nearly close on EUR 0.5 billion if you look at those contracts that are likely to renew over the next few years. Contracts going out to the high 2030s, 2038. Obviously, a massive opportunity for CRA is the development of the Prague Gateway that we've talked about. We've talked about already. When you look at the picture on the right-hand side there, that is a picture of the Žižkov Tower, a big broadcasting tower. What it does signify to me, and hopefully to you, is how our infrastructure can support the interconnectivity of digital infrastructure across the whole sector, towers, fiber or data centers. On that particular tower, you can see that it's providing TV, radio signals, providing TV and radio signals. It's providing communication support to the Ministry of Interior for their emergency services requirements. It's providing other telecom services to the mobile operators, housing mobile operator antennas. It's providing the service to meet IoT, Internet of Things, to access and monitor tens of thousands of sensors. At the bottom of the tower, there is obviously a building which we've repurposed as a data center, so it's offering power and space to government enterprise and internet service providers. It's also providing cloud and compute now to customers. There is fiber running in to this particular site, which can support any of these customers to get their traffic either in or out of that to other places. Really showing how an individual site there can actually deliver a service to multiple customers and drive very, very strong revenues. In the bottom right-hand side there, just to point out that over our ownership of CRA, during our ownership of CRA, the diversification of the revenue stream has increased significantly. Broadcast infrastructure is only accounting for around about 45% of the total revenues. That's not because broadcast infrastructure has declined in any way. In fact, it has been growing at a very nice clip over the last five years. It's because the adjacencies are growing at an even faster rate than broadcast infrastructure. We're very, very pleased with the developments in that respect. If we go to the next slide, Speed Fibre Group, obviously the big issue for them is the integration of BT Ireland. That's going very well. That nearly doubles the size of our asset base, significantly increases our customers, and makes it a lot easier for us to build what we hope to build in the future, which is a Western Digital Corridor to create more connectivity around the island of Ireland for all customers that need it in the geography. They've identified, as Andrew pointed out, EUR 6 million of cost savings through the synergies of integrating BT Ireland. Those are coming through this year. Obviously, we'll get some part benefit this year, but we'll get the fuller benefit of that in 2027 and beyond. Datacenter United, our data center business in Belgium, we have 13 properties across 11 different sites. We bought that from Proximus, and we bought into DCU from TINC, and we own that in joint venture with TINC. The integration of Proximus assets into the existing business seems to have gone very, very well, and it looks as though we get an increasing customer uptake from those assets as we speak. As you may well appreciate, there's a massive demand for data centers, but some sort of limitation on the availability of power and space is the limitation on the availability of power. Our assets already had quite a lot of sufficient additional power available to them. In view of the fact that power becomes in short supply, we have contracted now additional power, one of which contracts is 70 MW of additional power, to supply a further expansion of our Antwerp site well into the future. We don't need it today, but we've actually contracted it, which will allow us to further increase our availability and services in Antwerp over the next five-plus years. If you go to the next site, Hudson Interxchange has probably had one of its better years, despite the fact that it has been capacity constrained. I held back the capital expenditure to build out two new halls because I wanted to make sure that they were leasing up their existing available capacity. As happens in these instances, you end up getting a customer unexpectedly, and you've sold out, and then you need some more. Those additional data halls should be on stream very soon. They've pre-sold 20% of the capacity, as Andrew mentioned, and they've had some really good leads. I think the brand is starting to hit now. People are beginning to understand what's available, and they are getting a lot more appetite. There is one customer that is structurally exiting the marketplace. They have sold their spectrum, and we may well lose that customer later on in the year. Two step forwards, one step back, but that is the nature of business. Belgian Tower Company, small business. We would not normally buy a business of that size with that market position, but it generates very strong revenues. We bought it because it can help us further develop our competence in 5G Broadcast. This is a massive opportunity. Actually, it was the Belgian Tower Company that actually provided the technical delivery of 5G Broadcast for a trial. Well, not a trial, actually, a showcase of the technology to EU regulators and various government digital ministers back end of last year in Brussels. We handed them handsets, and we broadcast 5G to those handsets and showcased the service. This is a really great opportunity for the industry that we continue to do technical trials. We are working on commercial trials. Actually, some of the bigger broadcast infrastructure companies, TDF in France, 10x our size, Rai Way in Italy, are already, in a small way, providing commercial application of 5G Broadcast as a start to further showcase the technology. If you go to the next slide, ESG is important to all of us for our future, but we try to take a practical approach to it. First and foremost, we want to keep our people safe. We want to keep our people and our contractors safe on site. All of our businesses and management pursue and have very successful health and safety programs across their businesses. Both Emitel and Speed Fibre have won various prestigious awards for ESG in terms of what they have done, either in the year or previously. What we try to do practically, apart from all the other bells and whistles, is let us try and reduce the amount of power that we need, so insulate our buildings and have more efficient equipment, reduce the amount of power that we actually need. Then the power we do need, let us try and buy it from renewable sources. You can see here that Emitel's is 100% purchased from renewable sources, and CRA not far behind. The other businesses try to make progress in that respect as well. Good practical application, I think, of the myriad of ESG targets that various people try to set. If we go to the next slide, I will make some concluding remarks. Firstly, we do benefit from being in a growth sector, and a huge sector. Digital infrastructure is the third-largest infrastructure sector globally behind transportation and energy. You can see with the bar chart here that there are projections now that the demand for data center capacity, both power and space, and the overlay for AI, will double over the next four to five years. We will benefit that with our data center capacity in the Czech Republic, in Belgium, and of course, in the United States. A good place and a good opportunity for further growth and expansion. If you go to the next slide. I have said before, we still believe it, my colleagues and I, and the board. We continue to be undervalued across a whole host of read-across to other companies, both private and public, that operate within the same sectors that we do, that are trading on probably twice or even more times the valuation multiple than we benefit from on the London Stock Market. We have seen some really good growth in our share price over the last year. 25% growth for shareholders over the last year. We've seen that tick up again with the inclusion, being included on the main market, and the inclusion in the FTSE 250 could well enhance that further after today. We're seeing progress towards a market capitalization much closer to our NAV, and hopefully, maybe we'll get to NAV. If we do get to NAV and people recognize that there is a lot more opportunity to invest and get great incremental returns across an even bigger base, then we certainly have the opportunity to deliver that. We could invest more in Prague Gateway. Inevitably, we'll get diluted over time as we invest more into that business, so it gets bigger because with additional capital we could invest more into that. We have opportunities to buy more data center capacity in our existing geographies or outside. We could invest more in towers, complementary to our existing portfolios. We could invest more in fiber. We are experts in fiber management and deployment in Ireland, and we can bring that expertise over to the mainland, over to the U.K., potentially buy some of these fiber past the premise opportunities that are now selling at a discount to the invested capital, because they've been poorly invested in to date, but are now probably selling at prices that could generate very good returns for investors over the next few years. Also, under our IPO, we're allowed to invest 15% of our assets of our capital into non-OECD countries, or in fact into businesses that are higher return, slightly higher risk than a 9% core plus strategy would suggest. There is an opportunity here. We do have a private fund that's value-add, that's targeting greater than 15% IRRs. Of course, in a small way, CORD could co-invest with them in some of their assets to get greater diversification of our portfolio, but also a little more sizzle in terms of the returns than perhaps that we would typically get from the bulk of our portfolio. If we do get back to NAV, maybe the all cycle cost, efficient cycle, capital efficiency cycle of raising capital, buying good quality assets, raising some debt, buying some more good quality assets, and then raising some more equity to pay down the debt in an efficient way so that we can then buy more assets and then draw down again on the debt. Then back to the cycle of raising more equity. We hope that we'll get back to that virtuous cycle in due course that has been so beneficial for investors and for the investment trust sector generally over multiple decades. Lots of opportunity in this growing market to deploy more capital for people, to give them access to these fantastic returns that it delivers if and when we get back to NAV. If we go to the final slide, just to reiterate, fantastic performance this year, increasing the NAV by over 16%. Revenue is up by nearly 10%, EBITDA up by nearly 8%, conservatively financed across the balance sheets. No debt repayments out until 2029, as Andrew's mentioned. The dividend well covered. We actually get cash in. We can pay cash out. We're not an investment trust that doesn't get the cash in and effectively just gives money back to shareholders that they gave them in the first place. Dividends are 1.7x covered by free cash flows. We have a number of strategic initiatives that we've talked about that will kick in additional revenues and cash flows and value creation over the future years to come, on top of just the normal business of selling our existing capacity to customers. These are additional things that will kick in on top of that. We do have a lot of contracted revenues, as I've said. We have blue-chip clients that want long-term contracts. We have escalation clauses in there. Those, if you aggregate them together, are close on GBP 1 billion of contracted revenues that are not going away, and underpin a large part of our current market cap. We do pursue the core plus strategy, hoping to generate a 9% return to shareholders. We've been lucky. We've been good. Whatever, over the last five years, we've generated a 14% annual total return to shareholders, obviously outperforming the 9% target. Maybe there's a bit of luck in that, but also there's a lot of hard work and a lot of great success from fantastic management teams across our operating businesses. Great brands, great competitive moat, and delivering great results. We will support and work with them to continue to try and do that well into the future. With that, I'll stop there, but we'll open up to questions if there are any questions online. Philip? Yeah. Thank you, Steve. Thank you, Andrew. The first question is, what is middle and long-term plan for data center development for Emitel in Poland? We hope that Emitel will be able to follow the same sort of strategy as CRA that has built nine edge facilities over the last five years by repurposing existing properties or, in terms of Prague Gateway, actually building a brand-new facility on an existing piece of land. There are clearly similar opportunities in Poland. At last, Poland and Emitel are actually moving down that track. We expect that to evolve over the next few years. Perfect. Thank you. The next question is, can you break down the sources of EUR 6 million synergies in the BT Ireland integration? I can't give you specifics, but I can tell you generally where they're coming from. BT Ireland, similar size business to ourselves. We have 200 people. They have 280 people for a similar size business. You put them both together. Obviously, you can determine, well, they certainly don't need 280. You would down to at least 200. You've got the synergies of the two together sharing back office and engineering and field support. That combined population of staff will be coming down quite dramatically. We've sold off some properties that are not needed across the two pieces. We've got out of certain leases for properties that are not needed for the two businesses. We will shut down some loss-making services. Whilst we took on board about GBP 80 million of revenues, we've identified that some of this will be discontinued business, it will save us money because it's loss-making business. Those are the sort of synergies that will contribute to the cost savings but also to improvements for the next number of years going forward. Perfect. Thank you, Steve. The next question is, picking up on new revenue streams highlighted. It mentions GPU as a Service. What is the aim here? To operate as a Neocloud? How big a revenue opportunity is drone management, and what does this involve? Yeah. Thanks for the question. Very interesting question. We don't consider ourselves as racy. We're very conservative in the way that we operate our business. We're core plus. We're infrastructure. The notion of providing compute, which effectively is GPU as a Service, potentially for machine learning or for enterprise that want to ring-fence their own access to cloud for their own internal purposes. It's that latter that we are interested in exploring. We're not looking at becoming a Neocloud to do massive scale GPU as a Service for machine learning. What we are willing to consider is providing compute, GPU as a Service to enterprise who want to utilize these software systems for their own internal use. They need servers within our data centers, and they'd like someone to provide the compute under contract for them to utilize. We've dipped our toe into that. We've bought a few GPUs. We've contracted them out to various customers. There seems to be a lot of interest. We will continue to look at potentially further investing in that if there is customer demand under contract that gives us an appropriate return. Thank you for that, Steve. We don't have any further questions at this point. I don't know if you have any further or final remarks. Well, thank you very much, everybody. I set this up, I founded this five years ago, having had a history in digital infrastructure for 25 years and running multinationals for most of my career. I saw an opportunity to make digital infrastructure available to the wider investing community. We are the only real availability, pure availability to invest in digital infrastructure on the London Stock Exchange. I've been very pleased that the digital infrastructure's been able to deliver these results fairly predictively over the last five years, and we should continue to be able to deliver pretty good results on a go-forward basis. I'm pleased what we've done, and I'm pleased that we continue to offer this to investors across the piece on a go-forward basis. Thank you very much for those people who've invested in us. Obviously, we can't do it without you. There's greater opportunity if people want to put more money behind us. We can drive returns on additional monies, but maybe we can even drive incremental returns on additional monies. We'll keep pushing to deliver. We'll keep pursuing a progressive dividend policy, and I expect we'll continue to grow our NAV well into the future because we're in the digital space. We've got the wind at our backs, and it's a growing sector, driving revenues, profitability, and cash flows. Thank you for your support, and we look forward to continuing on our journey.