[For Translation Purposes Only]
August 30, 2024

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.
Masaomi Katayama, 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
Nomura Real Estate Master Fund, Inc. (“NMF” or the “Fund”) announced the decision made today that it willprocure debt financing (“Debt Financing”) for the purpose of acquiring new assets as stated below.

1. Debt Financing(1)Purpose

The Fund has decided to procure the debt financing in order to partly pay for the acquisition of asset.

(2)Details
Loan Type：Commitment Line Agreement (Contract date: September 12, 2023)
AmountDrawdown
Repayment Terms ofLenders(millions Interest Rate
Term
Collateral
Date
Date(Note1) Repaymentof yen)
Lump-sum
MUFG Bank, Ltd.
Baserepayment
Sumitomo Mitsui Banking Corporationinterest rate September 6,
August 26,
Unsecured,6,860
1 yearon theMizuho Bank, Ltd.
+0.39%
20242025
unguaranteed
repayment(Note2) (Note3)(Note4)
Sumitomo Mitsui Trust Bank, Limiteddate(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) Base interest rate, which applies to the calculation period of the interest rate to be paid on the interest payment date, will be Japanese
Bankers Association (“JBA”) 1-month JPY TIBOR(“Tokyo Interbank Offered Rate”) as of two business days before the previous
interest payment date of the respective interest payment dates (however, the Drawdown Date for the first interest rate calculationperiod) announced by the JBA TIBOR Administration(“JBATA”).
(Note 3) Base interest rate indicated in (Note 2) is reviewed on each interest payment date. However, in the case the rate that applies to thecalculation period of the interest rate does not exist, what is calculated based on the method stated in the contract will be the baseinterest rate that applies to the concerned period. For JBA Japanese yen TIBOR, please refer to JBATA website.
( http://www.jbatibor.or.jp/english/rate/)(Note 4) The interest payment dates are the 26th of every month, beginning September 26, 2024, until the Repayment Date, as well as theRepayment Date. If any of these days is a non-business day, the interest payment date will be the following business day, or the priorbusiness day if the following business day is in the next month.

(3)Use of Funds① Amount:¥6,860 million② Specifics:③ Scheduled Date of Use:

To be used for partial payment for the acquisition of asset including La’gent Stay
Hakodate Ekimae/HAKOViVA (Note) scheduled to be acquired on September 6,2024.
September 6, 2024

(Note) For a profile of the property, refer to the “Notice Concerning Acquisition of Property in Japan”, released on August 6, 2024. As of the date ofthe announcement, we had planned to settle the transaction with our own funds, but in consideration of future financial management, we havedecided to borrow funds.

－ 1 －2. Status of Interest Bearing Debts after Financing(Millions of Yen)

Before Financing

After Financing

Increased/DecreasedAmount

Short-term Borrowings

1,000

7,860

＋6,860Current portion of Long-termborrowings (Note 1)

23,06723,067－Long-term borrowings(Note 2)

458,824

458,824－

Total Borrowings

482,892

489,752＋6,8609,000

9,000－

29,40029,400－Total Investment Corporation Bonds

38,40038,400－Total Interest-Bearing Debts

521,292

528,152＋6,860Current portion of Investment
Corporation Bonds (Note 1)
Investment Corporation Bonds(Note 3)(Note 1) Nature of term is as of the end of the 17th fiscal period (February 29, 2024).
(Note 2) Excludes Long-term Borrowings due within one year.
(Note 3) Excludes Investment Corporation Bond due within one year.

3. Forecasts of Financial Results
There is no revision to NMF’s forecasts of financial results for the fiscal period ending February 28, 2025 (September
1, 2024 to February 28, 2025) by the Debt Financing as it has only small impact to the forecast of financial results.

4. 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, 2024 regarding the risk involved in the Debt
Financing.
*<Nomura Real Estate Master Fund, Inc.> URL: https://www.nre-mf.co.jp/en/－ 2 －