Fibra Danhos

Good day, everyone, and welcome to the Fibra Danhos second quarter 2026 conference call. At this time, all participants are in a listen-only mode. Later, we'll conduct a question-and-answer session. You may register to ask a question at any time by pressing star 1 on your phone. Please note, this call is being recorded, and I'll be standing by for assistance. Now, I'll turn the call over to your host, Rodrigo Martinez. Please go ahead, Rodrigo.

Thank you very much, Elisa. Hello, everyone. I am Rodrigo Martinez, and I run Investor Relations for your company. At this time, I'd like to welcome everyone to Fibra Danhos 2026 Second Quarter Conference Call. Sir, according to the report yesterday, if you did not receive a copy, please do not hesitate and contact us. Please be aware that they are also available on our website and in Mexico's Stock Exchange website. Before we begin our call today, I would like to remind you that forward-looking statements made during today's call do not account for future economic circumstances, industry conditions, or financial resource. These statements are subject to a number of risks and uncertainties. All figures included wherein we're prepared in accordance to IFRS standards and are stated in nominal Mexican unless otherwise noted. Joining us today from Fibra Danhos in Mexico City is Mr. Jorge Serrano, CEO of Fibra Danhos, and Mr. Elias Misrachi. Now I will turn the call today to Jorge Serrano for opening remarks on financial and operating means. Jorge, please go ahead.

Good morning, everyone. Thanks for joining us today. Let me share some initial remarks on a solid and steady second quarter for fibra Danhos. Total revenues of 2 billion pesos were 9.4% higher against last year and reflect increases of 8% on fixed rent and 18% on overage and on parking revenues. NOI reached 1.6 billion An increase of 8.5% year over year with a 78% margin. AFFO reached 1.2 billion pesos that accounted for 75 cents per CBFI. Distribution per CBFI with economic rights remained at 45 cents. Our dividend is equivalent to 1.6 times taxable income and represents a payout ratio relative to AFFO of 60%. With has been used to partially fund close to 50% of our CAPEX needs, which are complemented with additional debt. Balance sheet, however, remains strong at 14% leverage. During the quarter, we refinanced our Danhos 16 bond maturity with two new SLB issuances and other credit facilities. The structuring process continues revealed a strong appetite for Danhos' debt risk profile, finding strong demand from institutional investors and banks. Following this transaction, we improved our debt profile while preserving the financial flexibility and competitive funding costs. Overall, portfolio occupancy reached 89%, with retail occupancy reaching almost 95%, and office portfolio occupancy at almost 80%. While industrial occupancy stood at 86%, explained by the conclusion and delivery ahead of schedule of Building 2 at Palomas, which increased GLA and weight on occupancy as it is only partially leased at 30% at the time being. Lease spread. on our operating portfolio, calculated on 32,000 square meters, renewal agreements reached 4.6%, as it was triggered once again by strong performance on our retail portfolio. On our CapEx pipeline, Danhos Industrial Palomas Building 2 has been completed and delivered. Building 3 on its first phase at Palomas and Buildings 1 and 2 at Perum Express Projects are scheduled to be delivered later this year. Finally, Oaxaca and MISU construction phase continues and advances on time and within volume. Thanks. We will be happy to address any questions you may have.