March 24, 2021
FOR IMMEDIATE RELEASE
Activia Properties Inc.
21-1, Dogenzaka 1-chome, Shibuya-ku, Tokyo
Kazushi Sato
Executive Director(Code: 3279)
Asset Management Company
TLC REIT Management Inc.
Hiroyuki Tohmata
President & CEOInquiries
Kazuyuki Murayama
General Manager of Strategy Department
Activia Management Division(Tel: +81-3-6455-3377)

Notice Concerning Borrowing of Funds
Activia Properties Inc. (“API”) announces today that it decided to borrow funds (the “Borrowing”).
Details are as follows:1.

Details of the borrowing< Long-term borrowing>
Borrowing andrepaymentLoanInterest
Drawdown
Due date
Lendermethods,
amountrate
date (plan)(Note 1)security, andguarantee
Borrowing basedon a borrowing
agreement withthe lenders
0.5
0.25000%
March 31,
March 31,
shown at left as
Nippon Life Insurance Company
billion(Fixed rate)
2021
2025
the creditor,yen(Note 2)lump-sum
repayment,unsecured, andunguaranteed(Note 1) If the due date is a non-business day, it shall be the following business day. If such day falls in the following month,it shall be the immediately preceding business day.
(Note 2) The interest payment will be made on the last day of September 2021 and the last days of March and September ineach year thereafter as well as on the due date of the principal. (If an interest payment date is a non-business day, it
shall be the following business day. If such day falls in the following month, it shall be the immediately precedingbusiness day.)

2． Reasons for the borrowing
API will use the funds from the Borrowing to redeem a long-term borrowing of 0.5 billion yen which becomesmature on March 31, 2021 (the “Existing Long-term Borrowing”). For the details of the Existing Long-term
Borrowing, please refer to “Notice Concerning Borrowing of Funds and Early Repayment of Borrowings”
released on March 27, 2017.

13． Amount, use and schedule of disbursement of funds to be raised(1) Total amount
0.5 billion yen in total(2) Specific purpose of use
Funds will be used to redeem the Existing Long-term Borrowing(3) Scheduled date of disbursement
March 31, 2021
4．Status of borrowings payable, etc. after the Borrowing(1) Interest-bearing debt balance after the Borrowing(In millions of yen)Beforethe Borrowing(As of March 24,2021)
Short-term borrowings

Afterthe Borrowing(As of March 31,2021)

Change000

25,05027,8502,800

196,300

193,500(2,800)221,350

221,3500Investment corporation bonds
to be redeemed within one year000

Investment corporation bonds

22,80022,8000244,150

244,1500(Note)

Long-term borrowings
to be repaid within one year
Long-term borrowings(Note)

Total amount of borrowings

Total amount of borrowings andinvestment corporation bonds(Note) Short-term borrowings refer to borrowings with a maturity period of one year or less, and long-term borrowings refer
to borrowings with a maturity period of more than one year.

2(2) Basic financing information after the Borrowing
Beforethe Borrowing(As of March 24,2021)
Long-term debt ratio(Note 1) (Note 4)

After
the Borrowing(As of March 31,2021)

Change(point)

100.0%

100.0%

089.7%

88.6%

(1.1)

92.6%

92.6%

0

Long-term debt ratio(excluding the long-term borrowings
to be repaid and investment
corporation bonds to be redeemedwithin one year) (Note 2) (Note 4)
Fixed interest ratio(Note 3) (Note 4)(Note 1) Long-term debt ratio is the ratio of the outstanding long-term borrowings (including the long-term borrowings tobe repaid within one year) and investment corporation bonds (including the investment corporation bonds to beredeemed within one year) to the total of outstanding interest-bearing debt.
(Note 2) Long-term debt ratio (excluding the long-term borrowings to be repaid and investment corporation bonds to beredeemed within one year) is the ratio of the outstanding long-term borrowings (excluding the long-termborrowings to be repaid within one year) and investment corporation bonds (excluding the investment corporation
bonds to be redeemed within one year) to the total of outstanding interest-bearing debt.
(Note 3) Fixed interest ratio is the ratio of the total of outstanding interest-bearing debt with fixed interest rates to the totalof outstanding interest-bearing debt. The total of outstanding interest-bearing debt with fixed interest rates
includes debts whose interest rates were converted into fixed interest rates by interest rate swap agreements.
(Note 4) Figures are rounded to the first decimal place.

5．Other
Regarding the risks related to the repayment of the Borrowing, there are no significant changes in the“Investment Risk” section of the securities report submitted on February 25, 2021.

*Website of API: https://www.activia-reit.co.jp/en/

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