Financial Position and Capital Expenditures Total cash and bank balances as of March 31, 2023 aggregated to US$1.46 billion, including US$124.5 million of restricted cash. Total debt, net of unamortized deferred financing costs and original issue premiums, was US$7.86 billion at the end of the first quarter of 2023. Available liquidity, including cash and undrawn revolving credit facilities, as of March 31, 2023, was US$2.08 billion. US$169.8 million of ADSs were repurchased in the first quarter of 2023 through a privately-negotiated transaction with Melco Leisure and Entertainment Group Limited, a wholly-owned subsidiary of Melco International Development Limited. Capital expenditures for the first quarter of 2023 were US$69.8 million, which primarily related to the construction projects at Studio City Phase 2 and City of Dreams Mediterranean. Recent Developments On April 6, 2023, the Company announced the opening of an indoor water park and the Epic hotel tower, at Studio City Phase 2.