$270,450,000∗ CITY AND COUNTY OF SAN FRANCISCO REFUNDING CERTIFICATES OF PARTICIPATION SERIES 2025-R1 (MULTIPLE CAPITAL IMPROVEMENT PROJECTS) evidencing proportionate interests of the Owners thereof in a Project Lease, including the right to receive Base Rental payments to be made by the CITY AND COUNTY OF SAN FRANCISCO POS + INVESTOR PRESENTATION POSTED 10-31-25