NEWS RELEASE

April 28, 2022

For Immediate Release

InvestmentCorporation

Japan Real Estate Investment Corporation

Yutaka Yanagisawa, Executive Director

(TSE code: 8952)

Asset Management Company

Japan Real Estate Asset Management Co., Ltd.

Shojiro Kojima, President & CEO

Contact: Masaru Motooka

Executive Officer & General Manager

Planning Department

Phone: +81‐3‐3211‐7951

Announcement regarding Interest Rate of Sustainability‐Linked Loan

Japan Real Estate Investment Corporation ("JRE") hereby announces that the incentive interest rate will be applied to the Sustainability‐Linked Loan ("SLL") borrowed from The Norinchukin Bank, which is announced on November 11, 2021 in the press release titled "Announcement of Debt Financing".

This comes after the sustainability performance targets ("SPTs") set for May 2022 have been achieved.

The rate lowered by 0.01% from the original rate will be applied until the performance level is next confirmed in May 2025.

Revised interest rate

0.395%

Original interest rate

0.405%

Applicable period

From May 16, 2022 through May 15, 2025

Loan amount

JPY 5,000 million

Borrowing date

November 15, 2021

Principal repayment date

November 17, 2031

(*) For more details of the above loan, please refer to "Announcement of Debt Financing" dated November 11, 2021.

(Reference) Achievement status of SPTs

Performance for

FY 2020

Targets for FY 2030

(Note1)

CO2 emissions

(Base year: Fiscal 2013 / Carbon intensity basis)

Reduced by 25.2%

Reduced by 35%

Owning Zero‐Energy Buildings (note2)

1 bldg.

5 bldgs.

(Note1) The above SPTs are set on the basis of JRE's environmental KPIs at the time of conclusion of the contract, but the KPIs for CO2 emissions reduction have been recently revised to more ambitious ones. For more details, please refer to "Announcement of Setting New Targets for CO2 Emissions Reduction" dated March 18, 2022. (Note2) The ZEBs that are certified by BELS (Building‐Housing Energy‐efficiency Labeling System) shall include buildings that are Nearly ZEB, ZEB Ready, and ZEB Oriented.

This is the English translation of the announcement in Japanese dated April 28, 2022.

No assurance or warranties are given for the completeness or accuracy of this English translation.

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JREI - Japan Real Estate Investment Corporation published this content on 28 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2022 07:04:06 UTC.