NEWS RELEASE
October 27, 2023
For Immediate Release

Investment Corporation
Japan Real Estate Investment Corporation
Jo Kato, 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
Strategic Planning Department
Phone: +81-3-3211-7951

Announcement of Debt Financing
Japan Real Estate Investment Corporation hereby announces its decision today to procure funds asfollows:

1. Reason for the borrowing
To apply the loans below to redemption of the entire amount of the Investment Corporation 12thBond, which is scheduled for November 1, 2023.
2. Overview of the borrowing(1) Amount of loan
(2) Lender(3)

Interest rate (Note1)(4)

Borrowing date(5)

Method of borrowing(6)

Interest payment date
(Note2)(7)

Method ofrepayment

principal(8)

Principal repayment date

JPY 6,000 million
JPY 4,000 million
Mizuho Bank, Ltd.
MUFG Bank, Ltd.
Base rate (1-month JPY TIBOR published by Japanese
Bankers Association (hereinafter “JBA”)) + 0.040%
October 31, 2023
Loan based on overdraft agreement
Unsecured/unguaranteed loan
The principal repayment date and the last day of every
month in the period until the principal repayment dateLump-sum repayment on the principal repayment date
October 31, 2024

(Note1) The base rate to calculate the interest to be paid on interest payment dates is JBA 1-month JPY TIBOR asof two business days before the borrowing date for the first interest payment date and as of two
business days before the most recent interest payment date for the subsequent interest payment dates.
(JBA 1-month JPY TIBOR as of October 27, 2023 is 0.05636%.)
For the JBA Japanese Yen TIBOR, please refer to JBA TIBOR administration’s website

1(https://www.jbatibor.or.jp/english/rate/).
(Note2) When an interest payment date is not a business day, the interest shall be paid on the following business
day or the immediately preceding business day if the following business day is in the following month.

3. Balance of interest-bearing debt after the debt financing
BeforeShort-term loans payable(Units: millions of JPY)
After

Increase/Decrease

43,00052,000+9,00018,50018,500±0345,700

346,700+1,000Total loans

407,200

417,200+10,000

Investment corporation bonds

42,99332,993-10,000

Total
investment corporation bonds

42,99332,993-10,000

Total interest-bearing debt

450,193450,193±0Long-term loans payable(Variable interest rate)Long-term loans payable(Fixed interest rate)(Note3) The figures in the above table take into account the borrowing of JPY 1 billion long-term loan for prepaymentof 1 billion short-term loan on October 31, 2023. For details of the loan, please refer to the press release titled“Announcement of Loan Prepayment and Debt Financing” announced today.
(Note4) The figures in the above table show the balance after the redemption of the Investment Corporation 12th Bondon November 1, 2023.

4. Others
Regarding risks pertaining to these loan repayments, there is no material change to thedescriptions of “Investment risks” in the latest securities report submitted on June 26, 2023.

This is the English translation of the announcement in Japanese dated October 27, 2023.
No assurance or warranties are given for the completeness or accuracy of this English translation.
2