The Portfolio Purchase Price was negotiated on a willing buyer and willing seller basis and taking into consideration the independent valuation conducted by Savills Valuations Pty Ltd (“Savills”) at A$61.1 million (approximately S$60.5 million)4 as at 31 May 20225. The Savills valuation is based on the capitalisation and discounted cash flow approaches and referenced comparable market transactions. The Acquisition is expected to complete by the third quarter of 2022.