August 11, 2021
For Immediate Release
Real Estate Investment Trust Securities Issuer
Star Asia Investment Corporation
Representative: Atsushi Kato, Executive Director(Code: 3468)
Asset Management Company
Star Asia Investment Management Co., Ltd.
Representative: Atsushi Kato
President and CEO
Contact: Akiko Kanno
Director and CFO
TEL: +81-3-5425-1340

Notice Concerning Determination of Prices and Other Conditions with Regard to Issuance ofNew Investment Units and Secondary Offering of Investment UnitsStar Asia Investment Corporation (“SAR”) announces that at the Board of Directors meeting held today, SAR
determined the offer price and other conditions concerning issuance of new investment units and secondaryoffering of investment units of SAR that were approved at the Board of Directors meeting held on August 2, 2021,
as described below.
1. Issuance of new investment units through public offering (primary offering)(1)
Paid-in amount (issue
55,389 yen per unit
amount):(2)

Total paid-in amount (total

6,369,735,000 yen

issue amount):(3)

Issue price (offer price):

57,330 yen per unit

(4)

Total issue price (total offer

6,592,950,000 yen

price):(Note) The underwriters shall underwrite the investment units at the paid-in amount (issue amount) and publicly offer
the investment units at the issue price (offer price).

2. Secondary offering of investment units (over-allotment)(1)

Total number of

16,743 units

investment units to beoffered:(2)

Offer price:

57,330 yen per unit

(3)

Total offer price:

959,876,190 yen

Note:This press release does not in any way constitute any part of an offering of securities for investment. This press
release has been prepared for the purpose of announcing to the public certain matters relating to the issuanceof new investment units and secondary offering of investment units, and not for the purpose of soliciting anyinvestment, within or outside of Japan. Additionally, this press release is not an offer of securities for sale in
the United States. The securities referred to herein have not been, and will not be registered under the UnitedStates Securities Act of 1933, as amended (the “Securities Act”) and may not be offered or sold in the UnitedStates absent registration or an exemption from registration under the Securities Act. No offer ing or sale ofsecurities in the United States will be made in connection with the above-mentioned transactions. This press
release is not for publication, distribution or release, directly or indirectly in or into the United States ofAmerica.

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1. Calculation of offer prices(1)

Calculation date and price:

August 11, 2021

58,800 yen(Wednesday)(2)

Discount rate:

2.50%

2. Total number of investment units to be offered in the primary offering
115,000 units
3. Use of the funds to be procured
Net proceeds from the primary offering will be appropriated to a portion of the acquisition of the properties
described in “Notice Concerning Acquisition of Real Estate Beneficiary Interests in Trust and entering into Lease
Contracts”, which was released on August 2, 2021. The remainder, if any, will be treated as cash on hand and will beappropriated to a portion of the funds to acquire specified assets in the future.
* Star Asia Investment Corporation website address: http://starasia-reit.com/en/

Note:

This press release does not in any way constitute any part of an offering of securities for investment. This press
release has been prepared for the purpose of announcing to the public certain matters relating to the issuanceof new investment units and secondary offering of investment units, and not for the purpose of soliciting anyinvestment, within or outside of Japan. Additionally, this press release is not an offer of securities for sale in
the United States. The securities referred to herein have not been, and will not be registered under the UnitedStates Securities Act of 1933, as amended (the “Securities Act”) and may not be offered or sold in the UnitedStates absent registration or an exemption from registration under the Securities Act. No offer ing or sale ofsecurities in the United States will be made in connection with the above-mentioned transactions. This press
release is not for publication, distribution or release, directly or indirectly in or into the United States ofAmerica.

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