[For Translation Purposes Only]
August 24, 2023

For Immediate Release
To Whom It May Concern
Nomura Real Estate Master Fund, Inc.
Securities Code: 3462
Shuhei Yoshida, Executive Director
Asset Management Company:
Nomura Real Estate Asset Management Co., Ltd.
Koki Miura, President & Chief Executive Officer
Inquiries:
Hiroyuki Masuko
Executive Officer
Head of NMF Investment Management GroupTEL +81-3-3365-8767 nmf3462@nomura-re.co.jp

Notice Concerning Debt Financing (Determination of Loan Interest Rate)
Nomura Real Estate Master Fund, Inc. (“NMF” or the “Fund”) announced the interest rate of the following loan
announced in “Notice Concerning Debt Financing（Green Loan, etc.）” on August 18, 2023 (the “Debt Financing”),
has been determined. Details are as follows.

1. Determination of Loan Interest Rate
Loan Type：Term Loan (Contract date: August 24, 2023)
AmountDrawdown
Lenders(millions Interest Rate
Dateof yen)Fixed
The Chugoku Bank, Ltd.
1,000
0.86438％

Term

RepaymentDate(Note1)

6 years

August 26,2029

8 years

August 26,2031

9 years

August 26,2032(Note2)Development Bank of Japan, Inc

2,500

Fixed
1.15160％(Note2)

Nippon Life Insurance Company（Green Loan） (Note4)

1,000

Fixed
1.28875％(Note2)Fixed
1.28875％

Mizuho Bank, Ltd.
Development Bank of Japan, Inc.

5,000

MUFG Bank, Ltd.
Sumitomo Mitsui Banking
Corporation

2,800

Fixed
1.35532％

500

Fixed
1.42188％

2,800

Fixed
1.42188％

Nippon Life Insurance Company（Green Loan）(Note5)
MUFG Bank, Ltd.
Sumitomo Mitsui Banking
CorporationTotal(Note2)

August 28,
2023

9 years

August 26,2032

9 years
February 26,
and2033
6 months(Note3)10 years

August 26,
2033

10 years

August 26,2033(Note2)(Note3)Terms ofRepayment

CollateralLump-sum
repayment
Unsecured,on theunguaranteed
repayment
date

15,600(Note 1) Repayment Date is the following business day if the date is a non-business day, or the prior business day if the following businessdate is in the next month.
(Note 2) The interest payment dates are the 26th of every February and August, beginning February 26, 2024, until the Repayment Date, aswell as the Repayment Date. If any of these days is a non-business day, the interest payment date will be the following business day,or the prior business day if the following business day is in the next month.
(Note 3) The interest payment dates are the 26th of every February, May, August and November, beginning November 26, 2023, until theRepayment Date, as well as the Repayment Date. If any of these days is a non-business day, the interest payment date will be thefollowing business day, or the prior business day if the following business day is in the next month.
(Note 4) This debt financing will be applied to the repayment of the borrowing required for the acquisition of specified assets, PMO
Tamachi, PMO Ginza Hatchome, and PMO Shibakoen (including subsequent refinancing), that meets the criteria (eligible green－ 1 －projects) in accordance with the Green Finance Framework formulated by NMF. For details of green finance, please refer to the"Green Finance" page on the website of NMF at:
https://www.nre-mf.co.jp/en/esg/esg_greenfinance.html(Note 5) This debt financing will be applied to the repayment of the borrowing required for the acquisition of specified assets, PMO
Nihonbashi Kayabacho (including subsequent refinancing), that meets the criteria (eligible green projects) in accordance with theGreen Finance Framework formulated by NMF. For details of green finance, please refer to the "Green Finance" page on thewebsite of NMF at:
https://www.nre-mf.co.jp/en/esg/esg_greenfinance.html

2. OtherNo significant change has been made to the content of “Section 1 Fund Information / 1 Status of Fund / 3 Investment
Risks” of the Securities Report (in Japanese) filed on May 29, 2023, regarding the risk involved in the Debt Financing.
*<Nomura Real Estate Master Fund, Inc.> URL: https://www.nre-mf.co.jp/en/－ 2 －