June 11, 2015
To Shareholders
Kamezo Nakai
President
Nomura Real Estate Holdings, Inc.
1-26-2 Nishi-Shinjuku, Shinjuku-ku,Tokyo JAPAN

Notice of Partial Correction to“Notice of Convocation of the 11th Ordinary General Meeting of Shareholders”
There has been a correction to part of the proposal with respect to “Proposal No. 2: PartialAmendments to the Articles of Incorporation” in the Reference Documents for the General Meetingof Shareholders of the Company’s “Notice of Convocation of the 11th Ordinary General Meeting ofShareholders,” which was sent to shareholders on June 4, 2015, and posted on the Company’s
website on May 29, 2015.
We apologize for the inconvenience this may cause. We hereby inform you of the relevantcorrection as shown below.
Reference Documents for the General Meeting of Shareholders
A. Proposal No. 2: Partial Amendments to the Articles of Incorporation (page 6)
1. Reasons for amendments[Before Correction](5) In addition, the numbering of the Articles of Incorporation will be amended as required inconjunction with the above amendments.
[After Correction](5) The Articles of Incorporation will be partially amended with respect to the provision
regarding the person having authority to convene and to serve as chairperson of a meetingof the board of directors in order to secure flexibility in management of the board ofdirectors(6) In addition, the numbering of the Articles of Incorporation will be amended as required inconjunction with the above amendments.

B. Proposal No. 2: Partial Amendments to the Articles of Incorporation (page 8)
2. Contents of amendments[Before Correction]
Current
Article 21. and Article 22. <Omitted>

As Amended
Article 20. and Article 21. <Unchanged>[After Correction]
Current
Article 21. <Omitted>

As AmendedArticle 20. <Unchanged>

Article 21. (Person having authority toconvene and to serve as
chairperson of a meeting of theboard of directors)
1. A meeting of the board of directors shall be
convened and chaired by a director, either
the Chair or the President, who ispreviously determined by the board ofdirectors, except where otherwiseprescribed by laws and regulations.
2. If the President is unable to do so, a
2. If the person having authority to convene or
meeting of the board of directors shall beto serve as chairperson set forth in theprevious paragraph is unable to do so, aconvened and chaired by anothermeeting of the board of directors shall be
representative director in accordance withconvened and chaired by anotherthe order previously determined by therepresentative director in accordance withboard of directors.
the order previously determined by theboard of directors.
* Some underlining does not coincide with the Japanese version because of translation adjustments.
Article 22. (Person having authority toconvene and to serve as
chairperson of a meeting of theboard of directors)
1. A meeting of the board of directors shall be
convened and chaired by the President,except where otherwise prescribed by laws
and regulations.

[Note]
You can still use the proxy card we sent to you on June 4, 2015 to exercise your voting rights.
As for Proposal No. 2, your voting rights already exercised using the said proxy card will be deemed
to have been exercised for Proposal No. 2 as corrected above.
If you wish to change the content of the exercise of your voting rights already exercised, you arekindly requested to exercise your voting rights again via the Internet or by attending our general
meeting of shareholders, or otherwise contact the contact office mentioned below.
<Contact office>
Shareholder register administrator
Corporate Agency Division, Mitsubishi UFJ Trust and Banking Corporation
Telephone: 0120-232-711 (toll free, available only in Japan)
Business hours: 9:00 a.m. to 5:00 p.m. excluding Saturdays, Sundays and National Holidays