March 30, 2022
For Immediate Release
Name of REIT Issuer:
CRE Logistics REIT, Inc.
2-10-1, Toranomon, Minato-ku, Tokyo, Japan
Tsuyoshi Ito, Executive Director(TSE Code: 3487)
Asset Manager
CRE REIT Advisers, Inc.
Tsuyoshi Ito, President
Person of Contact:
Hirohisa Toda, Executive Officer, Head ofCorporate Planning and General Affairs
Tel: +81-3-5575-3600

Notice Concerning Conclusion of Amendment Memorandum of Sponsor Support Agreement
CRE Logistics REIT, Inc. (“CRE REIT”) and CRE REIT Advisers, Inc. (“the Asset Manage r”),
the asset manager to which CRE REIT entrusts the management of its assets, hereby announce
that they have decided to conclude with CRE, Inc. (“CRE”) and Strategic Partners Co., Ltd. (Note)
an amendment memorandum (“Amendment Memorandum”) concerning the Sponsor Support
Agreement (incudes subsequent amendments; “Sponsor Support Agreement”) dated September
26, 2017 which CRE REIT and the Asset Manager concluded with CRE.
(Note) A wholly owned subsidiary of CRE that operates private funds within the CRE group; Strategic Partners Co., Ltd.
sometimes collaborates with the provision of warehousing functions as part of support operations pursuant to theSponsor Support Agreement.

1. Key details of the Amendment Memorandum(1) Granting of exclusive negotiation rights to CRE concerning the sale of real estate assets
acquired from CRE
Where CRE REIT intends to sell a real estate asset acquired after the Amendment Memorandum
takes effect from CRE, the CRE Group (Note) or an SPC of the CRE Group (Note), CRE REIT
shall grant CRE an exclusive negotiation right, except in certain cases. In certain cases such aswhere the Asset Manager did not agree to the terms and conditions of purchase presented by CRE
within the period specified in the Amendment Agreement or where discussions broke down, theAsset Manager may offer to sell to a third party. Where the terms and conditions of purchasesubsequently presented by the third party are the same as or less favorable than those presented
by CRE, CRE REIT shall once again confirm whether CRE intends to acquire the asset and where
CRE wishes to renegotiate based on terms and conditions which are more favorable than thosepresented by the third party, CRE REIT shall agree to renegotiate .
（Note) The term “CRE Group” means CRE and CRE's consolidated affiliates and does not include the Asset Manager,CRE REIT or any special purpose company in which CRE holds tokumei-kumiai interests. The term “an SPC ofthe CRE Group” means a special purpose company in which the CRE holds all or part of the equity (includes butis not limited to tokumei-kumiai interests; the same applies hereinafter) or in which the CRE Group holds all orpart of the equity or to which the CRE Group entrusts asset management operations for real estate, etc . The sameapplies hereinafter in “1. Key details of the Amendment Memorandum.”

1(2) Clarification of procedure for CRE's sale of real estate to a party other than CRE REITThe Sponsor Support Agreement has always stated that CRE REIT shall be granted exclusive
negotiation rights with respect to all logistics-related facilities developed and held by CRE unlessthe grounds for exclusion from application stipulated in the Sponsor Support Agreement apply.
The Sponsor Support Agreement states that where CRE REIT waives a n exclusive negotiation right
granted by CRE and other (Note), CRE and other may offer to sell to a third party. However, theAmendment Memorandum amends this, clarifying that the term “third party” includes CRE, theCRE Group and an SPC of the CRE Group which were not granted such exclusive negotiationrights.
（Note) The term “CRE and other” means CRE, CRE Group, a special purpose company in which the CRE holds all ofthe equity or a special purpose company in which the CRE Group excluding CRE holds all of the equity or towhich the CRE Group excluding CRE entrusts asset management operations for real estate, etc. The same applies
hereinafter.

2. Reason for conclusion of Amendment Memorandum
The CRE Group provides various products and services including the leasing, management,development and brokerage of logistics facilities, seeking to be the “No.1 corporate group with alogistics infrastructure platform that connects the people and things of our world. ” Developmentsin the logistics real estate environment such as the sophistication of supply chain management,
rapid growth in stay-at-home consumption such as home shopping and electronic commerce, anincrease in the number of parcels sent by home delivery service, and an increase in the use of third party logistics (3PL) have resulted in rapid expansion in the range of logistics real estate users.
Moreover, the increasing difficulty of securing warehouse personnel due to current labor shortages
is exacerbating the need to develop the logistics infrastructure.
Logistics facilities are an important part of the social infrastructure and the CRE Group believes
it has a responsibility to develop a framework for the stable and long -term provision of the CRE
Group's integrated services to the users of logistics facilities developed by CRE and to maximize
the value of logistics facilities as social infrastructure assets. Through conclusion of theAmendment Memorandum, CRE REIT aims to accelerate its further growth through thedevelopment of the CRE Group as a whole and to further contribute to the users of logistics realestate and in turn to the development of logistics capabilities in Japan.
CRE REIT remains committed to asset management aimed at maximizing unitholder value.
3. Date of conclusion of the Amendment Memorandum
March 30, 2022
4. Future outlook
There is no change in the results forecasts for the fiscal period ending June 30, 2022 and thefiscal period ending December 31, 2022, which CRE REIT announced on February 17, 2022 in the“Summary of Financial Results for the 11th Fiscal Period Ended December 31, 2021”.
* CRE Logistic REIT, Inc. website: https://cre-reit.co.jp/en/2