Hello SubPro IRT members, Please find the attached CLEAN and REDLINED versions of the proposed Next Round Base Registry Agreement (Next Round RA) that will be posted for the second Public Comment. For your reference, we have attached the incremental redline that shows changes as compared to the version of the Next Round RA posted in the first public comment and a cumulative redline that shows changes as compared to the revised Base gTLD RA (approved by the ICANN Board 21 January 2024). * Draft Next Round RA - Public Comment Version September 2025 (Clean) * Draft Next Round RA - Public Comment Version September 2025 (Incremental Redline) * Draft Next Round RA - Public Comment Version September 2025 (Cumulative Redline) We are excited about this next milestone for the Next Round RA and appreciate the SubPro IRT’s ongoing guidance in making this happen. Best Regards, Karla