March 13, 2023
For Immediate Release
Real Estate Investment Trust Securities Issuer
MORI TRUST REIT, Inc.
Representative: Masayuki Yagi, Executive Director(Securities Code: 8961)
Asset Management Company
MORI TRUST Asset Management Co., Ltd.
Representative: Hiroshi Naito,
President and Representative Director
Contact:
Nobuyuki Aizawa,
Director, General Manager,
Strategic Management Department(TEL: +81-3-6435-7011)

Notice Concerning Treatment of Fractional Investment Units ofLess Than One Unit in Connection with the Merger
Following the absorption-type merger (the “Merger”) of MORI TRUST REIT, Inc. (“MTR” which changed its tradename from MORI TRUST Sogo Reit, Inc. as of March 1, 2023) and MORI TRUST Hotel Reit, Inc. (“MTH”) that tookeffect on March 1, 2023, investment units of MTR were allocated to unitholders stated or recorded on MTH’s final
unitholders’ register as of February 28, 2023 (“Unitholders Subject to Allocation”). However, among the investment
units granted to some Unitholders Subject to Allocation are fractional units of less than one (“Fractional InvestmentUnits”).
These Fractional Investment Units will be sold through market transactions in accordance with the Act on Investment
Trusts and Investment Corporations (Act No. 198 of 1951, including amendments) and the proceeds will be granted tothe Unitholders Subject to Allocation in accordance with the fractional units allocated to them.
Applicable Unitholders Subject to Allocation will be notified of details including the amount and method of delivery
separately by mail, and these payments are scheduled to begin in May 2023.
1. Allocation of Investment Units
The right to receive an allotment of MTR investment units has been granted to Unitholders Subject to Allocation(unitholders who held MTH investment units on February 24, 2023, the final trading day with rights).

Allocation of investment units
under the Merger

MTRMTH

11.84(Note) The number of new MTR investment units issued as a result of the Merger: 920,000
2. Method of Calculation for Allocation of Investment Units
Formula: Number of MTH investment units owned x 1.84 = Number of MTR investment units to be allocated1

(1) For unitholders who held 1 MTH investment unit as of the record date
The number of MTR investment units to be allocated due to the Merger is 1.84.
(For reference)
MTH

MTR

1 Investment Unit

1 Investment Unit0.84 Investment Units(Fractional Investment Units)→ The proceeds from the sale of the 0.84 investment units, which is the portion that is less than one unit, will be paid.
(2) For unitholders who held 5 MTH investment units as of the record date
The number of MTR investment units to be allocated due to the Merger is 9.2.
(For reference)

MTH
MTR

5 Investment Units

9 Investment Units

0.2 Investment Units(Fractional Investment Units)→ The proceeds from the sale of the 0.2 investment units, which is the portion that is less than one, will be paid.
(3) For unitholders who held 50 MTH investment units as of the record date
The number of MTR investment units to be allocated due to the Merger is 92.
(For reference)

MTHMTR

50 Investment Units

92 Investment Units→ Because there are no fractions, no proceeds from the sale of Fractional Investment Units will be paid.

2(4) For unitholders who held MTH investment units in multiple brokerage accounts
In the event that MTH investment units were held in multiple brokerage accounts as of the record date, Fractional
Investment Units will be processed based on the total number of combined units. If the aggregate of Fractional
Investment Units from the brokerage accounts is greater than one, investment units will be recorded in whole
numbers in the brokerage account with the largest number of MTH investment units. In addition, any Fractional
Investment Units present after aggregation will be treated as fractions of less than one as described in (1) or (2)above.
(For reference)(Example) For unitholders who held 10 MTH investment units in Brokerage Account A and 14 MTH investment
units in Brokerage Account B as of the record date.
[Brokerage Account A]

MTH10 Investment Units

MTR

18 Investment Units

0.4 Investment Units
0.16 Investment Units(Fractional Investment Units)[Brokerage Account B]
MTR
MTH

14 Investment Units

MTR

25 Investment Units

1 Investment Unit
To Brokerage Account B
0.76 Investment Units→ The aggregate of Fractional Investment Units taken from the brokerage accounts is 1.16. Of this, 1 MTR
investment unit will be recorded in the brokerage account that had the largest number of MTH investment
units (in the example above, Brokerage Account B). In addition, the portion that is less than one (0.16)
after aggregation will be treated as Fractional Investment Units and the proceeds from its sale will bepaid.

33. Upcoming Schedule (tentative)
Late March 2023
Sending of notice regarding number of investment
units allocated (Note 1)
May 2023

Commence payment of proceeds from sale ofFractional Investment Units (Note 2)

May 2023

Commence payment of money delivered due tomerger (Note 3)(Note 1) With February 28, 2023, as the record date, notices will be sent to unitholders recorded on MTH’s final unitholders’register as of said record date.
(Note 2) Because the timeframe, etc., required for the sale of Fractional Investment Units through market transactions is not yetknown, the commencement date for payment of proceeds from the sale of Fractional Investment Units may be earlier orlater than scheduled. The proceeds from the disposal of Fractional Investment Units are scheduled be delivered to all
Unitholders Subject to Allocation with fractional units by sending them a receipt for the proceeds from the disposal ofFractional Investment Units, which can then be exchanged for cash at the designated financial institutions.
(Note 3) The surviving corporation of the Merger, MTR, plans to pay money delivered due to merger equivalent to the cash
distribution amount of the final business period to Unitholders Subject to Allocation or investment unit pledge holders fortheir investment units as a cash dividend in lieu of cash distributions for MTH’s final business period ended February 28,2023 (fiscal period ended February 2023: September 1, 2022, to February 28, 2023). The following is an overview of theexpected money delivered due to merger as announced by MTH in “Notice Concerning Revisions to Forecast ofManagement Status and Forecast of Money Delivered Due to Merger for Fiscal Period Ending February 2023” datedFebruary 24, 2023. The amount of money delivered due to merger is currently undetermined and will be announced once
confirmed.
(Reference)
MTH’s operating results forecast for the final business period (fiscal period ended February 2023: September 1, 2022, toFebruary 28, 2023) and forecast for money delivered due to the Merger (published by MTH on February 24, 2023)
Money Delivered

OperatingOperating

Ordinary

Revenue

IncomeIncomemillion yen

million yen

million yen

million yenyen

1,7309307047031,407

Net Income

Due to Merger
per Unit

Operating results forecast
for MTH’s final businessperiod (fiscal period ended
February 2023)* MORI TRUST REIT’s website: https://www.mt-reit.jp/en/4