[For Information Purpose Only]
December 20, 2013
To All Concerned Parties
Name of REIT Issuer:
Invincible Investment Corporation
Naoki Fukuda, Executive Director
Roppongi Hills Mori Tower, 6-10-1 Roppongi,
Minato-ku, Tokyo, Japan(Securities code: 8963)
URL: http: //www.invincible-inv.co.jp/eng/
Asset manager:
Consonant Investment Management Co., Ltd.
Naoki Fukuda, President and CEO
Contact: Akiko Watanabe, Manager(Tel. +81-3-5411-2731)

Notice concerning Completion of Payment for Issuance ofNew Investment Units by way of Third-Party Allotment
Invincible Investment Corporation (“INV”) announced today that payment has been completed
today for the issuance of its new investment units by way of a third-party allotment (the “Third-PartyAllotment”), which INV had resolved at the board of directors’ meeting held on December 6, 2013.
For the details of the Third-Party Allotment, please refer to the press release titled “Noticeconcerning Issuance of New Investment Units by way of Third-Party Allotment” dated December 6,2013.
[Reference]
1. Overview of issuance of new investment units by the way of Third-Party Allotment(1) Number of new investment units224,887 units(2) Issue price
JPY 13,340 per unit
(3) Total issue price
JPY 2,999,992,580(4) Subscription period
December 16, 2013 (Monday)(5) Payment date
December 20, 2013 (Friday)(6) Allottee and number of investment units to Rayo Godo Kaisha: 149,925 units
be allotted
SCG 16 Godo Kaisha: 74,962 units

Note: This English language notice is a translation of the Japanese-language notice released on December 20, 2013 and was preparedsolely for the convenience of, and reference by, non-Japanese investors. It is not intended as an inducement or solicitation forinvestment. We caution readers to undertake investment decisions based on their own investigation and responsibility. Thistranslation of the original Japanese-language notice is provided for information purposes only, and no warranties or assurances are
given regarding the accuracy or completeness of this English translation. Readers are urged to read the original Japanese language
notice. In the event of any discrepancy between this translation and the Japanese original, the latter shall prevail in all respects.

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2. Changes in total number of issued investment units by the issuanceTotal number of issued investment units prior to this issuance: 1,348,292 units
Increase in the number of investment units by this issuance: 224,887 units
Total number of issued investment units after this issuance: 1,573,179 units

3. Use of proceeds
JPY 2,978,992,580 net proceeds out of the issue price (JPY 2,999,992,580) INV procures fromthe issuance of new investment units through the Third-Party Allotment has been used topartially fund repayment of borrowings (Syndicate Loan B, Shinsei Trust Loan A and Shinsei
Trust Loan B) and expenses related to refinancing (Note).
(Note) For details of refinancing, please refer to “Notice concerning Debt Financing and Payment before Maturity ofExisting Borrowings” dated December 6, 2013, “Notice concerning Execution of Loan Agreement on New
Borrowing” dated December 17, 2013 and “Notice concerning Implementation of New Borrowing and thePayment before Maturity of Existing Borrowings” dated today.

Note: This English language notice is a translation of the Japanese-language notice released on December 20, 2013 and was preparedsolely for the convenience of, and reference by, non-Japanese investors. It is not intended as an inducement or solicitation forinvestment. We caution readers to undertake investment decisions based on their own investigation and responsibility. Thistranslation of the original Japanese-language notice is provided for information purposes only, and no warranties or assurances aregiven regarding the accuracy or completeness of this English translation. Readers are urged to read the original Japanese language
notice. In the event of any discrepancy between this translation and the Japanese original, the latter shall prevail in all respects.

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