Translation of Japanese Original

October 25, 2022

To All Concerned Parties

REIT Issuer:
Kenedix Office Investment Corporation
Hikaru Teramoto, Executive Director(Securities Code: 8972)
Asset Management Company:
Kenedix Real Estate Fund Management, Inc.
Masahiko Tajima, President & CEO
Inquiries:
Hiroaki Momoi
Head of Strategic Planning,
Office REIT Department
TEL: +81-3-5157-6010

Notice Concerning Debt Financing (Green Loan etc.),
Prepayment of Borrowings etc. and Execution of Interest Rate Swap Agreement
Kenedix Office Investment Corporation (“the Investment Corporation”) announced today, that the Investment
Corporation decided to undertake the debt financing (total of 1,000 million yen) including the green loan, theprepayment of borrowings etc. and execution of interest rate swap agreement. Please see below for the details.
1. Outline of Debt Financing
TermLoan

LenderAmount

198-A

Sumitomo Mitsui Trust
Bank, Limited

500
millionyen

Base rate(JPY TIBORfor 3 months)+0.17500%

500
millionyen

0.37250%(Fixed interest rate)

198-B(Note 3)

MUFG Bank, Ltd.

Interest Rate
(Note 1) (Note 2)

Contract
Date

October 27,2022

Drawdown
Date

Principal
Repayment
Date (Note 1)

Collateral
Repayment
MethodOctober 31,
2025

Unsecured,
unguaranteed
・Repaymentof principal
in full on
maturity date

October 31,
2022
April 30,2026

Note 1: The first interest payment is due at the end of January 2023, and on the last day of every 3 month thereafter with the principal repayment
day. If each interest payment day or the principal repayment day is a non-business day, then the interest payment or the principal repayment
will be due on the next business day and if that next business day is in the next month, then previous business day will be applied.
Note 2: The base rate that is applied during interest period for the interest due on each interest payment date shall be calculated based on each
Japanese Yen TIBOR, which JBA TIBOR Administration (“the JBATA”) releases two business days before each interest payment date. The
Japanese Yen TIBOR of the JBATA is available on the JBATA website (https://www.jbatibor.or.jp/english/rate/).
Note 3: The debt financing is the green loan. The green loan is to be applied to the repayment of borrowings for the acquisition of the property witha certain level of environmental evaluation and certification in accordance with the Green Finance Framework (“the Framework”)
established by the Investment Corporation. The Framework has received a "Green1(F)" rating in the "JCR Green Finance Framework
Evaluation" from Japan Credit Rating Agency, Ltd. ("JCR") on August 10, 2022. The details of the Investment Corporation’s initiatives ofgreen finance are available on the website (https://www.kdo-reit.com/en/sustainability/environment7.html).

2. Purpose of Debt Financing
Series 198-A is to apply the fund towards the repayment of Series 188-B (500 million yen) with the principal repayment
date of October 31, 2022. Series 198-B is to apply the fund towards the prepayment of Term Loan 190-A (the remainder
after partial prepayment, 500 million yen) with the principal repayment date of November 30, 2022.

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The Outline of Planned Prepayment of Borrowing
SeriesLenderBorrowingAmountRepayment
AmountBalanceafter theRepayment

Drawdown
Date

Principal
Repayment
Date

Repayment
Date

Collateral

190-A

Sumitomo Mitsui
Trust Bank,
Limited.

500
millionyen

500
millionyen-November 30,2021

November 30,
2022

October 31,2022

Unsecured,unguaranteed

Note: Please refer to the following press releases for the overview of each borrowing to be repaid.
Series 188-B:

Term Loan 190-A:“Notice Concerning Debt Financing (Series 187 and 188)” dated September 14, 2021
“Notice Concerning Debt Financing (Term Loan 190), Execution of Interest Rate Swap Agreements and Prepayment ofBorrowings etc. ” dated November 22, 2021

3. Interest Rate Swap Agreements(1) Purpose of Interest Rate Swap Agreements
For a hedge against possible increase in future interest rate on the borrowing (198-A) with floating interest rate.
(2) Details of Interest Rate Swap Agreement
Term Loan

198-A

Counterparty

To be determined and announced upon determination

Notional AmountInterestRate

500 million yen

Fixed Interest Ratefor Payment
Floating Interest Ratefor Receipt

To be determined and announced upon determination
Base rate (JPY TIBOR for 3 months)

Commencement Date

October 31, 2022

Termination Date

October 31, 2025
The first payment is due at the end of January 2023, and on the last day of every 3 months
thereafter with the termination date.

Payment Date (Note)

Note: If each payment day is a non-business day, then the payment will be due on the next business day and if that next business day is in the next
month, then previous business day will be applied.

4. Status of Borrowings and Investment Corporation Bonds after the Debt Financing and the Prepayments etc.
(as of October 31, 2022)(Millions of yen)

Short-Term Borrowings (Note 1)

Balance before
the Debt Financing and
the Prepayments etc.
800

Balance after
the Debt Financing and
the Prepayments etc.
300

Long-Term Borrowings (Note 2)

201,150

201,650500

201,950

201,9500

13,00013,0000214,950

214,9500Classification

Total Borrowings
Investment Corporation Bonds
Total Borrowings and Investment Corporation Bonds

Difference-500

Note 1: Short-term borrowings refer to debt financing with a period less than or equal to one year from the drawdown date to the principal repayment
date. However, the borrowings for which the period until the principal repayment date has surpassed one year because the principal
repayment date after one year from the drawdown date is not a business day, and for which the principal repayment date has been moved toa different business day, are included in short-term borrowings.
Note 2: Long-term borrowings refer to debt financing with a period more than one year from the drawdown date to the principal repayment date.

6. OtherFor risks concerning the prepayments, etc. of the aforementioned debt financing, there are no significant changes tothe “Investment Risks” as described in the Securities Report (submitted on July 26, 2022).
The Investment Corporation’s website: https://www.kdo-reit.com/en/
This notice is the English translation of the Japanese announcement on our website released on October 25, 2022. However, noassurance or warranties are given for the completeness or accuracy of this English translation.

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