[For Translation Purposes Only]
March 5, 2020
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 Reception of Minister of the Environment Award(the Most Excellent Efforts) of Principles for Financial Action for the 21st Century
Nomura Real Estate Master Fund, Inc. (“NMF” or the “Fund”) announces that Nomura Real Estate AssetManagement Co., Ltd. (the “Asset Management Company”), to which NMF entrusts the management of its assets, hasreceived Minister of the Environment Award in the general department as the most excellent efforts in fiscal year 2019from Principles for Financial Action for the 21st Century Secretariat.

1. Award Details
The Most Excellent Efforts in Fiscal Year 2019, Minister of the Environment Award in the General Department(Award ceremony left：Norio Ambe, President & Chief Executive Officer、 right：KOIZUMI Shinjiro, Minister of the Environment)

2. The Asset Management Company’s Efforts EvaluatedAs the first J-REIT initiative, NMF was certified and registered to an Environmental Management System (EMS) bythe third party, EcoAction 21(Note), which covers investment, operation and management in office buildings andresidential facilities in the NMF’s portfolio.
(Note) For more details on certification and registration for EcoAction 21, please refer to NMF’s press release, “Notice ConcerningCertification and Registration for EcoAction 21 Program, an Environmental Management System (EMS) in Japan”, dated on January
31, 2020.

－ 1 －－3. Reasons for Selection
The Asset Management Company was selected as the Minister of the Environment Award for the following reasons,with the expectation of promoting the greening of the entire real estate industry.
・ As the first of the efforts in Japan's real estate management industry, to obtain third-party certification for its
environmental management system (EMS), involvement of the owner or tenant of real estate related to theoperation target, saving in the existing real estate stock in the form of a bottom-up the point we are working ongreening, such as resources and energy-saving great value.
・ It leverages an environmental management system for small and medium-sized businesses "EcoAction 21 (EA21)",the possibility of spread of similar efforts also in relation to other REIT (real estate investment trusts) can be
expected.
・ Towards a common goal world's greenhouse gas emissions zero, considering the contribution from the real estateindustry, you want to hope that a higher target value of energy and resource conservation.
For more details on the selection, please refer to the selection results.
The selection results: https://pfa21.jp/activity/bestaward/bestaward2019/sougou

4. About Principles for Financial Action for the 21st Century

As the action guidelines of financial institutions who hope fulfill their responsibilities and roles required for theformation of a sustainable society, "Financial Principles towards the Formation of a Sustainable Society (aka: Principles
for Financial Action for the 21st Century)" was formed in October 2011.
There were 284 signatory financial institutions as of November 28, 2019 and they implement initiatives based on the7 principles as much as possible based on their own business operations.
The Asset Management Company agreed with the principles advocated by the Ministry of the Environment andsigned on Principles for Financial Action for the 21st Century in July 2019.
For more details on Principles for Financial Action for the 21st Century, please refer to its website.
Principles for Financial Action for the 21st Century: https://pfa21.jp/

5. Future Outlook
The Fund and the Asset Management Company will continue to engage in asset management that gives due
consideration to ESG issues. Please refer to the following website concerning ESG initiatives by NMF and the AssetManagement Company.
NMF’s ESG initiatives: https://www.nre-mf.co.jp/en/esg/index.html
The Asset Management Company’s ESG initiatives: https://www.nre-am.co.jp/english/sustainability/－ 2 －－