306 STRATEGICALLY ADVANCING NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2024 33. FINANCIAL RATIOS 2024 2023 % % Expenses to weighted average net assets1 – including performance component of management fees 1.04 0.99 – excluding performance component of management fees 1.04 0.99 Portfolio turnover rate2 3.41 15.37 1 The annualised ratios are computed in accordance with the guidelines of Investment Management Association of Singapore. The expenses used in the computation relate to expenses of the Group, excluding property related expenses, borrowing costs and income tax expense. 2 The annualised ratio is computed based on the lesser of purchases or sales of underlying investment properties of the Group expressed as a percentage of daily average net asset value. 34. SUBSEQUENT EVENTS Subsequent to the reporting period, the following significant events occurred: (a) Divestment of 79 Tuas South Street 5 in Singapore On 15 January 2025, ESR-REIT entered into a contract of sale to divest 79 Tuas South Street 5 in Singapore for $9.85 million. (b) Divestment of 1 Third Lok Yang Road and 4 Fourth Lok Yang Road in Singapore On 27 January 2025, ESR-REIT entered into a contract of sale to divest 1 Third Lok Yang Road and 4 Fourth Lok Yang Road in Singapore for approximately $6.8 million. (c) Repurchase of Units ESR-REIT repurchased an aggregate of 17.0 million Units amounting to approximately $4.1 million at unit prices ranging from $0.2311 to $0.2490 per Unit. (d) Entry into $160 million sustainability-linked unsecured term loan and revolving credit facilities On 26 February 2025, ESR-REIT entered into a $160 million sustainability-linked unsecured term loan and revolving credit facility agreement.
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