Nomura Real Estate Group Human Rights Policy

The Nomura Real Estate Group (hereinafter, “the Group”) is engaged in the core business ofurban development, which it achieves through real estate development and related servicesand management. As such, the Group recognizes that it shares responsibility for building asustainable world in which all people can experience sustained wellness．The Nomura RealEstate Group Human Rights Policy (hereinafter referred to as “the Policy”) aims to achieve thisobjective by clarifying the Group’s approach to and responsibility for respecting human rights
as an indispensable aspect of its business activities.
The Group has established the Group Vision, “New Value, Real Value,” and the Action Guideline,“What We Value,” which guides its efforts to achieve the Group Vision.
The Nomura Real Estate Group Code of Action (hereinafter referred to as “the Code of Action”)
stipulates that officers and employees throughout the Group behave with respect for the dignity
and basic human rights of all persons, including customers, suppliers and other business
partners, and all of their colleagues within the Nomura Real Estate Group, to fulfill the Group’ssocial responsibilities in accordance with high ethical standards.
The Policy has been formulated in accordance with the Group Vision and the Action
Guidelines and in line with the Code of Action, and all the business activities of the Groupshall be conducted in compliance with the Policy.
Compliance with International Human Rights Standards
The Group supports the International Bill of Human Rights (comprising the Universal
Declaration of Human Rights, the International Covenant on Civil and Political Rights, and theInternational Covenant on Economic, Social and Cultural Rights), which sets forth common
standards to be achieved for all people; the ILO Declaration on Fundamental Principles andRights at Work, which defines fundamental rights at work; the Ten Principles of the UN GlobalCompact, which sets forth universal values related to human rights, labor, the environment,
and anti-corruption; and the Children’s Rights and Business Principles, which requires
companies to respect and promote the rights of children. The Policy is formulated inaccordance with the UN Guiding Principles on Business and Human Rights, and the Groupshall continue to promote its implementation.
Furthermore, the Group understands and complies with the laws and regulations of thecountries and regions in which it operates and conducts its business activities accordingly. In
the unlikely event that the laws and regulations in a country do not meet, or conflict withinternational standards, the Group will strive to attain the maximum possible compliance withinternational human rights standards.
Scope of Application
The Policy shall apply to all officers and employees* throughout the Group. The Group also
expects suppliers and other business partners to understand and cooperate in complying withboth this Policy and the Nomura Real Estate Group Procurement Guidelines and to work withthe Group to promote respect for human rights.
*Officers and employees: The officers and employees (including part-time employees) ofthe Group and temporary employees engaged in the operations of the Group.
Respecting Human Rights in Practice
As Chairman of the Sustainability Committee, the President and Group CEO of Nomura Real
Estate Holdings shall be responsible for the implementation of the Policy. The Sustainability
Committee, which is appointed by the Board of Directors and consists of directors and executive
officers from Nomura Real Estate Holdings and Group companies, shall deliberate and makedecisions on planning activities, goal setting, identifying human rights risks and formulating
preventive measures. The Committee shall also monitor progress with managing plans andachieving goals. The Committee shall report the results of its activities to the Board of Directors,
and these results shall be reflected in Group management plans and business activities.
In order to ensure that the human rights of all stakeholders are respected, the Group shallcontinue to conduct human rights due diligence and publicly disclose the findings.
Furthermore, the Group shall hold training programs and other activities to raise awarenessamong all officers and employees regarding human rights-related issues.
Identifying Salient Human Rights Issues
Taking into account feedback from stakeholders, the Group has identified potential and actual
human rights risks throughout the value chain, assessed the severity and likelihood of adverse
impacts on human rights, and identified salient human rights issues.
Salient Human Rights Issues* Prohibiting child labor* Prohibiting forced labor and preventing complicity in human trafficking* Prohibiting all forms of discrimination (based on race, ethnicity, nationality, age, gender,sexual orientation, gender identity, disability, religion, creed, social status, pregnancy,
childbirth, need for childcare leave, need for family-care leave, etc.)* Preventing sexual harassment and other types of harassment* Creating comfortable work environments* Establishing appropriate working conditions* Ensuring the rights to life and health (and preventing infringement of these rights) for
customers, users, etc.
* Ensuring the rights to life and health (and preventing infringement of these rights) for local
residents* Ensuring the right to privacy

Relationships with Stakeholders
In accordance with the salient human rights issues identified, the Group shall pursue thefollowing efforts while engaging in dialogue with stakeholders.
* Employees
The Group shall respect the fundamental rights of all officers and employees. In order toensure the physical and mental health and safety of employees, the Group shall not tolerate
discrimination in any form, sexual harassment, nor any other form of harassment, and shallstrive to maintain appropriate working conditions and a comfortable working environment,
including freedom of association, the right to collective bargaining, and equal pay for equalwork. Furthermore, the Group shall respect the diversity of its employees (in terms of race,ethnicity, nationality, age, gender, sexual orientation, gender identity, disability, religion,
creed, social status) and the diversity of their lifestyles and stages of life (pregnancy,childbirth, childcare leave, family-care leave, etc.). Furthermore, the Group shall not engage
in unjust labor practices such as child labor and forced labor, nor be in any way complicit inhuman trafficking.
* Suppliers and Other Business PartnersThe Group expects its suppliers and other business partners to respect human rights bymaintaining and improving appropriate working conditions that ensure freedom ofassociation, the right to collective bargaining, and equal pay for equal work, maintaining andimproving comfortable work environments, and shall not engage in unjust labor practices
such child labor and forced labor. Furthermore, in order to fulfill its responsibility to society
through its business activities, the Group has formulated the Nomura Real Estate Group
Procurement Guidelines, which addresses items with which suppliers and other businesspartners are expected to comply, including the prohibition of discrimination in all forms,
sexual harassment, and other types of harassment. The Group expects all suppliers and otherbusiness partners to understand and cooperate with these guidelines.
* Customers
As a corporate group whose core business is sustainable urban development, the Group aims
to help realize community wellness by providing spaces where customers feel safe and canhold diverse values and enjoy their unique lifestyles. Furthermore, the Group shall respecthuman rights related to the lives and health of its customers, by taking measures such asensuring the safety of its buildings and respecting the right to privacy by thoroughly
protecting the personal information it handles.
* Local Communities
The Group aims to coexist in harmony with local communities in the countries and regions inwhich it operates. In each of these locations, the Group shall foster and support sustainablecommunities that continue to attract a diverse group of people. The Group shall also respecthuman rights related to the lives and health of local residents affected by its business activities
by ensuring the safety of its buildings and taking into consideration the impact of construction
work on the surrounding environment, including noise, vibration, and dust.
The Group shall review salient human rights issues as appropriate in response to changes inbusiness and social conditions.
Remedial Measures
The Group shall take remedial and corrective measures to respond appropriately to any cases
or issues related to human rights violations caused by its business activities.
The Group shall maintain hotlines as a channel for anonymous reports and consultations
related to human rights violations and shall protect the anonymity of victims and informants
to ensure that they are not subjected to adverse treatment as a result of reporting violations.

Satoshi Arai
President and Representative Director, Group CEO
Nomura Real Estate Holdings, Inc.

Enactment
Ver1. 20210721
Modification
Ver2. 20230401