<Provisional translation>
July 18, 2018

For Immediate Release
REIT Issuer
Hankyu REIT, Inc. (Securities Code: 8977)
19-19 Chaya-machi, Kita-ku, Osaka
Yoshiaki Shiraki, Executive Director
Asset Management Company
Hankyu Hanshin REIT Asset Management, Inc.
Yoshiaki Shiraki, President & Representative Director
Contact:
Hiroshi Yoshida
General Manager, IR and Public Relations Department
Email: IR_PR@hhram.co.jp

Notice Concerning Changes in the Articles of Incorporation and Election of Directors
Hankyu REIT, Inc. (hereafter “Hankyu REIT”) hereby notifies that it has decided today by resolution ofthe executive meeting to put forward proposals at the 10th General Unitholders’ Meeting (hereafter the“Unitholders’ Meeting”) to be held on August 24, 2018, the following matters: changes to the Articles ofIncorporation and election of directors. Details are described below.

Details1.

Reasons for Changing the Articles of Incorporation and Details of Changes(1) As part of the reorganization of the real estate business at the Hankyu Hanshin Holdings Group (abusiness group with Hankyu Hanshin Holdings, Inc. as the holding company), which is the sponsor
group of Hankyu REIT, the real estate business was transferred from Hankyu Corporation, which isthe parent company of Hankyu Hanshin REIT Asset Management, Inc. (the asset managementcompany that Hankyu REIT has selected to manage its assets; hereafter the “Asset ManagementCompany”), to Hankyu Hanshin Properties Corp. on April 1, 2018 through an absorption-type split
and the entire shares (6,000 shares; 100% of shares issued and outstanding) of the AssetManagement Company held by Hankyu Corporation were succeeded by Hankyu Hanshin
Properties Corp. in line with the transfer. In line with this making Hankyu Hanshin Properties Corp.
the parent company of the Asset Management Company, the decision has been made to change thename of Hankyu REIT with September 1, 2018 as the effective date to further foster a sense of unityof the sponsor group. The trade name is being changed to reflect this decision. (Change to Hankyu
Hanshin REIT, Inc.) (The related section is Article 1 of the current Articles of Incorporation.)(2) To change dates from a notation based on the Japanese calendar to that based on the Gregoriancalendar, except those in the numbering of laws and regulations. (The related section is Article 10 of
the current Articles of Incorporation.)(3) To establish provisions in supplementary provisions to the effect that the changes to the Articles ofIncorporation above shall become effective with September 1, 2018 as the effective date. (Therelated section is Chapter 11 of the proposed change.)12.

Election of Directors
The Executive Director Yoshiaki Shiraki and Supervisory Directors Tamio Uda and Motofumi Suzuki haveoffered to step down his post as of the end of the General Meeting of Unitholders. Accordingly, Hankyu
REIT submits proposals to the Unitholders’ Meeting to elect one Executive Director (candidate: YoshiakiShiraki) and two Supervisory Directors (candidates: Tamio Uda and Motofumi Suzuki).

In addition, for any vacancy or an insufficient number of executive directors and supervisory directors
prescribed by laws and regulations, Hankyu REIT submits proposals to the Unitholders’ Meeting to electone alternate Executive Director (candidate: Toshinori Shoji) and one alternate Supervisory Director(candidate: Hiroumi Shioji).

3.

Schedule
July 18, 2018

Resolution at the executive meeting to submit proposals to Unitholders’ Meeting

August 7, 2018

Announce proposals in convocation notice of the Unitholders’ Meeting(Domestic only) (TBD)

August 24, 2018

Hold the Unitholders’ Meeting, and put forward proposals to change the Articles
of Incorporation and to elect directors (TBD)•Hankyu REIT website: http://www.hankyu-reit.jp/eng/

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