[For Translation Purposes Only]
July 27, 2023

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.
Koki Miura, 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 Acquisition of Additional NMF Investment Units
by Nomura Real Estate Development
Nomura Real Estate Master Fund, Inc. (“NMF”) announces that Nomura Real Estate Asset Management Co., Ltd.,a licensed asset management company retained by NMF to provide asset management services, has been notified byNomura Real Estate Development Co., Ltd. (“NRE”) that NRE will acquire additional NMF invest ment units (the“Additional Acquisition”), as set forth below.
1. Key Details of the Additional Acquisition Notified by NRE(1) Total Number of Investment
Units to be Acquired

The maximum number to be acquired will be 120,000 units. However, if the priceof the investment units exceeds the initially set maximum price during theacquisition period, the maximum number of units to be acquired may not bereached, or the acquisition may not take place at all.

(2) Acquisition Period

The acquisition period is planned to be from July 31, 2023 to February 21, 2024.
However, it may be terminated during the period if the number of units acquiredreaches the maximum number of investment units, or for other reasons.

(3) Method of Acquisition

NRE will acquire the NMF investment units through market purchases based on
entrustment of purchases to a brokerage firm.

2．Significance of the Additional Acquisition
Based on the leasing business value chain established with the Nomura Real Estate Group including NRE, whichacts as NMF’s sponsor, by proactively utilizing the property acquisition pipeline and the management support system(management pipeline), mainly for development projects of NRE, NMF achieves “securing stable income over themedium to long term” and “the steady growth of assets under management” with the aim of improving unitholdervalue.
The Additional Acquisition reaffirms NRE’s supportive stance. As acquisition of additional NMF investment units
by NRE will result in uniting the interests of NMF’s unitholders and those of NRE, it is expected that the support ofthe sponsor leading to the medium- to long-term growth of NMF will continue.

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3．Status of Holding of NMF Investment Units by the Sponsor before the Additional Acquisition
Before the Additional
Acquisition

Additional Acquisition(Maximum)

After the Additional
Acquisition (Maximum)(Note)

Number of Investment
4,715,200 units
4,715,200 units
Units Issued
Number of Units Held210,671 units
120,000 units
330,671 units
by the Sponsor
Ratio Held by the
4.47%
2.54%
7.01%
Sponsor(Note) The values stated as the number of units held by the sponsor and the ratio held by the sponsor after theAdditional Acquisition are based on the case where the maximum number of investment units have all beenacquired, but the number of the relevant units and the ratio may not actually reach these values.
The Additional Acquisition will have no impact on NMF’s financial results.
<Nomura Real Estate Master Fund, Inc.> URL: https://www.nre-mf.co.jp/en/index.html－ 2 －－