[For Translation Purposes Only]
September 11, 2019
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.
Norio Ambe, President & Chief Executive Officer
Inquiries:
Hiroshi Ishigooka
Executive Officer
Head of NMF Investment Management Group
TEL. +81-3-3365-8767 nmf3462@nomura-re.co.jp

Notice Concerning GRESB Assessment Results(Received “5-Star”)
Nomura Real Estate Master Fund, Inc. (“NMF” or the “Fund”) hereby announces that it has received “GreenStar” and “5-Star” ratings under the 2019 Global Real Estate Sustainability Benchmark (“GRESB”) program aswell as an “A” rating under the GRESB Public Disclosure Level evaluation scheme.

1. About GRESBAn annual benchmarking program aimed at evaluating environmental, social and governance (ESG)
initiatives undertaken by real estate businesses, GRESB was established in 2009 by major Europe’s largest
pension fund administrators, which have also taken the lead in establishing the UN Principles for Responsible
Investment, acting as its advocates.
Over 100 Investor Members (Total AUM USD 22 trillion (JPY 2,354 trillion assuming USD 1=JPY 107))
have joined GRESB and use GRESB data to select and dialogue with investment targets. A total of 1,005
entities globally, comprising real estate companies, REITs and funds, participated in the 2019 Assessment.

2. About GRESB’s “Green Star” and “ 5-Star” Real Estate Ratings
Under the GRESB program, NMF received a “Green Star” rating for the fourth consecutive year. The “GreenStar” rating is bestowed only to applicants that earn outstanding evaluations in terms of “Management & Policy”
and “Implementation & Measurement”—two operational dimensions subject to assessment in light of efforts aimed
at addressing environmental concerns and sustainability issues. NMF also received a “5-Star” rating for the third
consecutive year, the highest under a five-grade evaluation system that reflects global ranking based on an applicant’s
total scores.

－ 1 －NMF believes that the factors that helped it earn these ratings are as follows.
・Enhancement of a cooperative relationship with its stakeholders.
・Proactive management of Key Performance Indicators (KPI).
・A proactive attitude toward acquiring “Green Building” and other such certifications

3. About an “A” Rating under the GRESB Public Disclosure Level Evaluation Scheme

We received an “A” rating for the third consecutive year, the highest rating given under the five-grade
GRESB Public Disclosure Level evaluation scheme introduced in 2017 for our proactive information
disclosure practices in connection with environmental and sustainability initiatives.

Please also refer to the following website and ESG Annual Report (June 2019) for more information on the ESG
initiatives undertaken by NMF and its asset management company.
NMF’s website
https://www.nre-mf.co.jp/en/esg/index.html
NMF's ESG Annual Report (June 2019)https://www.nre-mf.co.jp/asset/pdf/en/esg/ESG_Annual_Report2019.pdf

4. Future Outlook

Looking ahead, NMF and its asset management company will engage in asset management practices thatgive due consideration to ESG issues.

*<Nomura Real Estate Master Fund, Inc.> URL: https://www.nre-mf.co.jp/en/－ 2 －