NEWS RELEASE
June 29, 2023
For Immediate Release

Investment Corporation
Japan Real Estate Investment Corporation
Jo Kato, Executive Director(TSE code: 8952)
Asset Management Company
Japan Real Estate Asset Management Co., Ltd.
Shojiro Kojima , President & CEO
Contact: Masaru Motooka
Executive Officer & General Manager
Strategic Planning Department
Phone: +81-3-3211-7951

Announcement of Debt Financing
Japan Real Estate Investment Corporation hereby announces its decision today to procure funds asfollows:

1. Reason for the borrowing
Repayment of the existing short-term loan of JPY 12 billion executed on June 1, 2023
2. Overview of the borrowing«Short-term loan»
July 3, 2023
(1) Borrowing date:(2) Lender, Amount of loan, Principal repayment date:LenderAmount of loan

Principal repayment date

MUFG Bank, Ltd.

JPY 11,000 million

March 29, 2024

(3) Interest rate:

Base rate (1-month JPY TIBOR published by Japanese Bankers
Association (hereinafter “JBA”)) + 0.040% (Note1)(4) Method of borrowing:
Loan based on overdraft agreement
Unsecured/unguaranteed loan(5) Interest payment date:
The principal repayment date and the last day of every month inthe period until the principal repayment date (Note2)(6) Method of principal repayment: Lump-sum repayment on the principal repayment date(Note1)・ The base rate to calculate the interest to be paid on interest payment dates is JBA 1-month JPY TIBOR
as of two business days before the borrowing date for the first interest payment date and as of two
business days before the most recent interest payment date for the subsequent interest payment
dates. (JBA 1-month JPY TIBOR as of June 29, 2023 is 0.04545%.)･ For the JBA Japanese Yen TIBOR, please refer to JBA TIBOR administration’s website(https://www.jbatibor.or.jp/english/rate/).

1(Note2) When an interest payment date is not a business day, the interest shall be paid on the following business
day or the immediately preceding business day if the following business day is in the following month.

«Long-term loan»
July 3, 2023
(1) Borrowing date:(2) Lender, Amount of loan, Principal repayment date:LenderAmount of loan

Principal repayment date

The Gunma Bank, Ltd.

JPY 1,000 million

July 4, 2033

(3) Interest rate:(4) Method of borrowing:(5) Interest payment date:

Base rate (3-month JPY TIBOR published by JBA) + 0.100% (Note3)
Loan agreement dated June 29, 2023
Unsecured/unguaranteed loan
The principal repayment date and the 3rd of every January, April,July, and October in the period until the principal repayment date
(Note4)(6) Method of principal repayment: Lump-sum repayment on the principal repayment date
(Note3)・ The base rate to calculate the interest to be paid on interest payment dates is JBA 3-month JPY TIBOR
as of two business days before the borrowing date for the first interest payment date and as of two
business days before the most recent interest payment date for the subsequent interest payment
dates. (JBA 3-month JPY TIBOR as of June 29, 2023 is 0.07455 %.)･ For the JBA Japanese Yen TIBOR, please refer to JBA TIBOR administration’s website(https://www.jbatibor.or.jp/english/rate/).
(Note4) When an interest payment date is not a business day, the interest shall be paid on the following business
day or the immediately preceding business day if the following business day is in the following month.

<Reference> Overview of Existing Loan Subject to Repayment
LenderAmount of loan
Borrowing date
MUFG Bank, Ltd.

JPY 12,000 million

June 1, 2023

Principal
repayment date

Disclosure dateJuly 3, 2023

May 30, 2023

3. Balance of interest-bearing debt after the debt financing(Units: millions of JPY)

BeforeShort-term loans payable

After

Increase/Decrease

28,50027,500-1,00017,50018,500+1,000343,700

343,700±0389,700

389,700±0

Investment corporation bonds

42,99342,993±0Totalinvestment corporation bonds

42,99342,993±0Total interest-bearing debt

432,693432,693±0Long-term loans payable(Variable interest rate)Long-term loans payable(Fixed interest rate)
Total loans

4. Others
Regarding risks pertaining to these loan repayments, there is no material change to thedescriptions of “Investment risks” in the latest securities report submitted on June 26, 2023.
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This is the English translation of the announcement in Japanese dated June 29, 2023.
No assurance or warranties are given for the completeness or accuracy of this English translation.

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