August 13, 2020
For Immediate Release

Real Estate Investment Trust Securities Issuer
1-6-5 Marunouchi, Chiyoda-ku, Tokyo
Mitsubishi Estate Logistics REIT Investment Corporation
Representative: Masaki Sakagawa, Executive Director(Securities Code: 3481)
Asset Management Company
Mitsubishi Jisho Investment Advisors, Inc.
Representative: Haruhiko Araki, President & CEO
Contact:
Masaki Sakagawa, Executive Vice
President, General Manager, Logistics REITManagement Department
TEL: +81-3-3218-0030

Notice Concerning Issuance of New Investment Units and Secondary Offering of Investment Units
Mitsubishi Estate Logistics REIT Investment Corporation (“MEL”) today announced that, on Aug. 13, 2020, its board of
directors passed a resolution regarding the issuance of new investment units and a secondary offering of investment
units as follows.
1. Issuance of New Investment Units through Public Offering (Public Offering)(1) Number of investment 40,500 units
units to be offered(2) Amount to be paid inTo be determined(issue amount)
The amount to be paid in (issue amount) shall be determined at the board of
directors meeting to be held on a date between Monday, Aug. 24, 2020, andWednesday, Aug. 26, 2020 (the “Issue Price Determination Date”).
(3) Net proceeds
To be determined(4) Issue price
To be determined(offer price)
The issue price (offer price) shall be determined at the board of directors meeting
to be held on the Issue Price Determination Date, taking into consideration thelevel of demand and other factors and using as a tentative price a figure obtainedby multiplying a number from 0.90 to 1.00 by the price subtracting 5,353 yen of theestimated distributions per unit (excluding estimated surplus cash distributions),
and 594 yen of estimated surplus cash distributions relating to the fiscal period
ending August 31, 2020 (8th fiscal period) from the closing price for ordinary
trading of an investment unit of MEL on Tokyo Stock Exchange Inc. (the “TokyoStock Exchange”) on the Issue Price Determination Date (in the event of no closing
price on such date being available, the closing price on the preceding date). Any
fraction of one yen shall be rounded down to the nearest yen.
(5) Total amount issued
To be determined(total offer value)(6) Offering methodInvestment units shall be offered through a Public Offering and all investment units
for the Public Offering shall be purchased and underwritten by a group ofunderwriters (collectively referred to as the “Underwriters”). A part of theinvestment units through the Public Offering shall be purchased by overseas
investors in international markets mainly in Europe and Asia (excluding the UnitedStates and Canada).
(7) Content of
The Underwriters shall pay MEL the net proceeds for the Public Offering on theunderwriting
payment date stated below under (10), and the difference with the Total amountagreement
issued (total offer value) shall be the proceeds of the Underwriters. MEL shall not
pay an underwriting fee to the Underwriters.
(8) Units of application
One unit or more in multiples of one unit
(9) Application period
From the following business day of the Issue Price Determination Date to twobusiness days following the Issue Price Determination Date(10) Payment date
Tuesday, Sept. 1, 2020
Note: This press release has been prepared for the purpose of announcing to the public certain matters relating to the issuance of new
investment units and secondary offering of investment units, and has not been prepared for the purpose of soliciting investment.
This press release does not constitute an offer of securities in the United States of America. The securities referred to above have notbeen, and will not be registered under the United States Securities Act of 1933, as amended (hereinafter referred to as the “SecuritiesAct”). The securities may not be offered or sold in the United States absent registration or an exemption from registration under theSecurities Act. The securities referred to above will not be offered or sold, publicly or otherwise, in the United States.

1(11) Delivery date
Wednesday, Sept. 2, 2020 (The following business day of the Payment Date)(12) The amount to be paid in (issue amount), the issue price (offer price), and other items required for theissuance of the new investment units through Public Offering shall be determined at a future board ofdirectors meeting.
(13) The items above shall be subject to the condition that the Securities Registration Statement, filed pursuant tothe Financial Instruments and Exchange Act of Japan, becomes effective.
2. Secondary Offering of Investment Units (Secondary Distribution via Over-allotment) (Refer to <Reference> below)(1) Number of investment 2,000 units
units to be distributed
The number of investment units to be offered is the maximum number ofinvestment units to be distributed in the secondary distribution via over-allotment
by one of the Underwriters in the primary offering (“the Underwriter”), separatelyfrom the Public Offering, taking into consideration the status of demand and otherfactors of the Public Offering. There are cases where the number may decrease or
the secondary distribution via over-allotment itself may not take place at all
depending on the status of demand and other factors relating to the PublicOffering. The number of investment units to be distributed shall be determined at
the board of directors meeting to be held on the Issue Price Determination Date,taking into consideration the status of demand and other factors of the Public
Offering.
(2) Distributor
The Underwriter(3) Distribution price
To be determined
The distribution price shall be determined at the board of directors meeting to beheld on the Issue Price Determination Date. Furthermore, the distribution priceshall be the same as the issue price (offer price) for the Public Offering.
(4) Total amount of
To be determined
distribution price(5) Distribution method
The Underwriter shall conduct a secondary distribution of MEL’s investment units,
which it shall borrow from Mitsubishi Estate Co., Ltd. (“Mitsubishi Estate”) in a
number not to exceed 2,000 units (the “Borrowed Units”), separately from thePublic Offering, taking into consideration the status of demand and other factors
relating to the Public Offering.
(6) Units of application
One unit or more in multiples of one unit
(7) Application period
The same as the Public Offering(8) Delivery date
The same as the Public Offering(9) This secondary distribution via over-allotment shall be cancelled upon the cancellation of the Public Offering.
(10) The distribution price and other items required for the secondary distribution via over-allotment shall be
determined at a future board of directors meeting.
(11) The items above shall be subject to the condition that the Securities Registration Statement, filed pursuant to
the Financial Instruments and Exchange Act of Japan, becomes effective.
3. Issuance of New Investment Units through Third-party Allotment (Refer to <Reference> below)(1) Number of investment 2,000 units
units to be offered(2) Amount to be paid inTo be determined(issue amount)
To be determined at the board of directors meeting to be held on the Issue Price
Determination Date. The amount to be paid in (issue amount) shall be identical tothe amount to be paid in (issue amount) for the Public Offering.
(3) Net proceeds
To be determined(4) Allottee and number
The Underwriter: 2,000 units
of investment units tobe allotted(5) Units of application
One unit or more in multiples of one unit
(6) Application period
Tuesday, Sept. 29, 2020
(application date)

Note: This press release has been prepared for the purpose of announcing to the public certain matters relating to the issuance of new
investment units and secondary offering of investment units, and has not been prepared for the purpose of soliciting investment.
This press release does not constitute an offer of securities in the United States of America. The securities referred to above have notbeen, and will not be registered under the United States Securities Act of 1933, as amended (hereinafter referred to as the “SecuritiesAct”). The securities may not be offered or sold in the United States absent registration or an exemption from registration under theSecurities Act. The securities referred to above will not be offered or sold, publicly or otherwise, in the United States.

2(7) Payment date
Wednesday, Sept. 30, 2020(8) Investment units for which no application for subscription has been made during the application period(application date), mentioned in (6) shown above, shall not be issued.
(9) The amount to be paid in (issue amount) and other items required for the third-party allotment shall be
determined at a future board of directors meeting.
(10) The third-party allotment shall be canceled upon the cancellation of the Public Offering.
(11) The items above shall be subject to the condition that the Securities Registration Statement filed inaccordance with the Financial Instruments and Exchange Act of Japan becomes effective.
<Reference >Secondary Distribution via Over-allotment and Related Matters
The secondary distribution via over-allotment shall be a secondary distribution of MEL’s investment units by
the Underwriter, which the Underwriter shall borrow from Mitsubishi Estate in a number not to exceed 2,000
units upon the Public Offering, separately from the Public Offering, taking into consideration the status ofdemand and other factors relating to the Public Offering. The number of investment units to be distributed in
the secondary distribution via over-allotment is scheduled to be 2,000 units. The number of investment units
above is the maximum number of investment units to be distributed; there may be instances in which thenumber may decrease or the secondary distribution via over-allotment itself may not take place at all,depending on the status of demand and other factors relating to the Public Offering.
Furthermore, in connection with the secondary distribution via over-allotment, for the purpose of allowing
the Underwriter to acquire MEL’s investment units required for returning the Borrowed Units, MEL resolved, by
its board of directors meeting held on Thursday, Aug. 13, 2020, to issue 2,000 new investment units by way ofthird-party allotment (the “Third-party Allotment”) to the Underwriter with the payment date on Wednesday,Sept. 30, 2020.
In addition, during the period from the date following the last application period date for the Public Offeringand the secondary distribution via over-allotment to Friday, Sept. 25, 2020 (the “Syndicate CoveringTransaction Period”), there may be cases where the Underwriter may purchase MEL’s investment units on theTokyo Stock Exchange, which shall be in a number not to exceed the number of investment units pertaining to
the secondary distribution via over-allotment, for the purpose of returning the Borrowed Units (the “SyndicateCovering Transaction”). All of MEL’s investment units acquired in the Syndicate Covering Transaction by theUnderwriter shall be allocated to return the Borrowed Units. During the Syndicate Covering Transaction Period,
there may be instances in which the Underwriter decides not to engage in the Syndicate Covering Transaction
at all or decides to end the Syndicate Covering Transaction without purchasing investment units in a number
equal to the number of investment units pertaining to the secondary distribution via over-allotment.
Furthermore, the Underwriter may engage in stabilizing transactions related to the Public Offering and thesecondary distribution via over-allotment, and MEL’s investment units purchased through such stabilizing
transactions may possibly be used, in whole or in part, to return the Borrowed Units.
As for the remaining number of investment units after reducing the number of MEL’s investment units
purchased through the stabilizing transaction and the Syndicated Covering Transaction used to return theBorrowed Units from the number of MEL’s investment units for the secondary distribution via over-allotment,
the Underwriter intends to acquire MEL’s investment units through the Third-party Allotment. For this reason,
it is possible that applications may not be filed for the number of investment units issued through theThird-party Allotment, in whole or in part, and as a result, the final number of investment units issued in theThird-party Allotment may decrease or the issuance itself may not take place due to forfeiture.
Whether the secondary distribution via over-allotment is exercised and the number of units to be subscribedwhen the secondary distribution via over-allotment is exercised will be determined on the Issue Price
Determination Date. If the secondary distribution via over-allotment is not exercised, the Underwriter will notborrow MEL’s investment units from Mitsubishi Estate. Therefore, the Underwriter will not acquire such
number of MEL’s investment units by refusing the Third-party Allotment. In this event, the issuance of new
investment units through the Third-party Allotment will not take place due to forfeiture. Similarly, theSyndicate Cover Transaction on the Tokyo Stock Exchange will not be exercised.
Note: This press release has been prepared for the purpose of announcing to the public certain matters relating to the issuance of new
investment units and secondary offering of investment units, and has not been prepared for the purpose of soliciting investment.
This press release does not constitute an offer of securities in the United States of America. The securities referred to above have notbeen, and will not be registered under the United States Securities Act of 1933, as amended (hereinafter referred to as the “SecuritiesAct”). The securities may not be offered or sold in the United States absent registration or an exemption from registration under theSecurities Act. The securities referred to above will not be offered or sold, publicly or otherwise, in the United States.

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Furthermore, any of the above transactions shall be conducted by the Underwriter in consultation with theother joint lead managers.
4. Change in the Number of Investment Units Outstanding after the Issuance of the New Investment Units
Current number of issued investment units outstanding:
305,815 units
Number of new investment units to be issued in the Public Offering:
40,500 units
Total number of issued investment units after the Public Offering:
346,315 units
Number of new investment units to be issued through the Third-party
2,000 units
Allotment:(Note)
Total number of issued investment units after the Third-party Allotment:
348,315 units(Note)(Note) These figures represent the number of investment units when subscription is made by the Underwriter for the entire investment
units offered in the Third-party Allotment and they are issued.

5. Objective and Rationale for the Issuance
MEL will acquire new specified assets (as defined in Article 2, Paragraph 1 of the Act on Investment Trusts andInvestment Corporations of Japan; the same shall apply hereinafter) which include Logicross Osaka (60%co-beneficiary interest), Logicross Nagoya Kasadera (60% co-beneficiary interest), LOGIPORT Osaka Taisho (17.5%additional co-beneficiary interest ), MJ Logipark Kazo 2 and MJ Logipark Sendai 1 (the “Five New Properties”) as set
forth in “Notice Concerning Acquisition of Domestic Real Estate Trust Beneficiary Interests and Lease Contracts
with New Tenants” announced today, using proceeds from the Public Offering, new concurrent borrowings andutilizing cash on hand. MEL believes that, through the acquisition of the Five New Properties, MEL can achieve
steady expansion of its portfolio and grow its unitholder value. The issuance of the new investment units wasdecided after having considered factors such as market trends, distributions per unit and other factors.
6. Amount, Use and Schedule of Expenditure of Net Proceeds from the Offerings(1) Amount of Funds to be Procured (Estimated Net Proceeds)
17,851,000,000 yen (maximum)(Note) The above amount represents the total sum of 17,011,000,000 yen in net proceeds from the Public Offering, and 840,000,000
yen in maximum net proceeds from the Third-party Allotment. The above figures represent estimated amounts calculated basedon the closing price of MEL’s investment units for ordinary trading on the Tokyo Stock Exchange as of Monday, July 27, 2020.

(2)

Specific Use of Net Proceeds and Schedule of Expenditure
Net proceeds from the Public Offering (17,011,000,000 yen) are scheduled to be partially used to fund theacquisition of the Five New Properties. The maximum proceeds from the issuance of new investment units
through the Third-party Allotment (up to 840,000,000 yen) are scheduled to be used to fund the repaymentof all or a portion of the borrowings. The remainder of the net proceeds of the Third-party Allotment will be
kept as cash on hand and be deposited with financial institutions until the time of expenditure. Such cash on
hand will be utilized to fund a portion of future acquisitions of specified assets or a portion to repay
borrowings.

7. Designation of Allottee
The Underwriters plan to allocate 1,750 units out of the MEL’s investment units to be issued in the Public
Offering to Mitsubishi Estate as the purchaser designated by MEL.

Note: This press release has been prepared for the purpose of announcing to the public certain matters relating to the issuance of new
investment units and secondary offering of investment units, and has not been prepared for the purpose of soliciting investment.
This press release does not constitute an offer of securities in the United States of America. The securities referred to above have notbeen, and will not be registered under the United States Securities Act of 1933, as amended (hereinafter referred to as the “SecuritiesAct”). The securities may not be offered or sold in the United States absent registration or an exemption from registration under theSecurities Act. The securities referred to above will not be offered or sold, publicly or otherwise, in the United States.

48. Restrictions on Sales and Additional Issuances(1) In connection with the Public Offering, MEL will ask Mitsubishi Estate to agree with the joint bookrunners andjoint lead managers, beginning on the Issue Price Determination Date and lasting for a period of 180 calendar
days after the delivery date of the Public Offering, not to sell the investment units it owns (12,450 units) or sell
the investment units it intends to purchase in the Public Offering (1,750 units) without the prior writtenconsent of the joint bookrunners and joint lead managers.
The joint bookrunners and joint lead managers have the right to waive all or part of aforementioned
restrictions, or shorten the lock-up period at their discretion.
(2) In connection with the Public Offering, MEL has agreed with the joint bookrunners, beginning on the Issue Price
Determination Date and lasting for a period of 90 calendar days after the delivery date of the Public Offering,
not to issue of any investment units (excluding the issuance of MEL’s investment units through the Third-party
Allotment and by way of a unit split) without the prior written consent of the joint bookrunners.
The joint bookrunners have the right to waive all or part of aforementioned restrictions, or shorten the lock-up
period at their discretion.
For more information about Mitsubishi Estate Logistics REIT Investment Corporation, please visit:https://mel-reit.co.jp/en/

Note: This press release has been prepared for the purpose of announcing to the public certain matters relating to the issuance of new
investment units and secondary offering of investment units, and has not been prepared for the purpose of soliciting investment.
This press release does not constitute an offer of securities in the United States of America. The securities referred to above have notbeen, and will not be registered under the United States Securities Act of 1933, as amended (hereinafter referred to as the “SecuritiesAct”). The securities may not be offered or sold in the United States absent registration or an exemption from registration under theSecurities Act. The securities referred to above will not be offered or sold, publicly or otherwise, in the United States.

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