Japan Retail Fund Investment Corporation to Acquire 8 Properties in Japan

Japan Retail Fund Investment Corporation (Tokyo Stock Exchange Company Code: 8953) News Release September 12, 2013 Japan Retail Fund Investment Corporation to Acquire 8 Properties in Japan The Japan Retail Fund Investment Corporation ("JRF") announced today its planned acquisition of real estate trust beneficiary rights in Japan (hereinafter referred to as properties to be acquired ) as outlined below. 1. Summary of Properties to be Acquired Property name Location Seller Anticipated acquisition price (A) ( million) (Note 3) Appraisal value (B) ( million) (A/B) NOI yield (before depreciation) (Note 4) NOI yield (after depreciation) (Note 4) Anticipated acquisition date G-Bldg. Ginza 01 Chuo-ku, Tokyo Ginza 651 LLC 5,500 5,780 95.2% 4.2% 4.0% Round1 Kyoto Kawaramachi Nakagyo-ku, Kyoto-shi, Kyoto Naka-ku, Hiroshima-shi, Hiroshima SSG4 LLC 2,800 3,050 91.8% 5.9% 5.0% Round1 Hiroshima Iron Properties LLC 2,970 3,610 82.3% 7.2% 5.9% Oct 3, 2013 (Note 5) Colline Bajikouen Setagaya-ku, Tokyo SSG4 LLC 3,100 3,580 86.6% 5.2% 4.4% KAMISHIN PLAZA Higashiyodogawa-k u, Osaka-shi, Osaka Brightmoon Kamishinjo LLC 3,900 4,160 93.8% 7.2% 5.9% Summit Store Nakano Minamidai Nakano-ku, Tokyo Brightmoon Nakano LLC 3,100 3,180 97.5% 5.0% 4.5% KAWASAKI Le FRONT G-Bldg. Shinsaibashi 03 Kawasaki-ku, Kawasaki-shi, Kanagawa Chuo-ku, Osaka-shi, Osaka MJ Retail Investments One Limited 30,000 35,200 85.2% 6.2% 5.0% Unique Osaka LLC 22,300 23,100 96.5% 4.3% 3.9% Oct 7, 2013 Total 8 Properties 73,670 81,660 90.2% 5.5% 4.7% (Note 1) Among the properties that we plan to acquire, we concluded purchase agreements (hereinafter the purchase agreements") for real estate trust beneficiary rights in KAWASAKI Le FRONT and G-Bldg. Shinsaibashi 03 on Sep 12, 2013, and we signed non-binding letters (hereinafter non-binding letter ) of intent for G-Bldg. Ginza 01 on Aug 19, 2013, for KAMISHIN PLAZA and Summit Store Nakano Minamidai on Aug 22, 2013, for Round1 Kyoto Kawaramachi and Colline Bajikouen on Aug 23, 2013 and for Round1 Hiroshima on Aug 27, 2013. (Note 2) Effectiveness of the purchase agreements for real estate trust beneficiary rights are subject to us obtaining the necessary funding (including, but not limited to, capital increases) to cover payment of the purchase price. Neither the seller nor we are entitled to compensation for any damages in the event that the agreements fail to be effective. Some properties we plan to acquire are subject to pledges of the seller for the benefit of financial institutions, such pledges, however, are expected to be removed in connection with the transfer. Moreover, each non-binding letter of intent stipulates (but is not limited to) the following basic conditions precedent: (Condition precedent) i. Completion of due diligence including building and earth quake-resistance diagnosis (except for properties comprised of land with leasehold interest) and environmental research, and the results of which must be satisfactory for JRF. ii. Any and all rights (including, but not limited to, liens and usufruct rights; but excluding leasehold rights of existing tenant) which hinder possessing or using of real estate or real estate trust beneficiary rights shall be extinguished at the expense of seller by the transaction date (unless we agreed otherwise). iii. We obtain the necessary funds. * Non-binding letter of intent has no legally binding effect. (Note 3) All anticipated acquisition prices are subject to change by consultation between the sellers and us. (Note 4) For NOI yield (before depreciation) and NOI yield (after depreciation), please refer to [Reference] Definitions of Individual Calculation Formulas herein below. (Note 5) When the payment date for new investment units is Oct 2, 2013, the anticipated acquisition date shall be Oct 3, 2013. However, when the payment date is either Oct 3, 2013 or Oct 4, 2013, the anticipated acquisition date may be changed to either of Oct 4, 2013 or Oct 7, 2013. 1

Portfolio before and after the anticipated acquisitions As of Feb 28, 2013 (End of the 22 nd fiscal period) Anticipated properties After acquisitions of anticipated properties Number of properties 76 properties 8 properties 84 properties Total (anticipated) acquisition price 720.0 billion 73.6 billion 794.0 billion (Note 2) Average NOI yield (before depreciation) (Note1) 5.2% 5.5% 5.2% Average NOI Yield (after depreciation) (Note1) 3.6% 4.7% 3.7% (Note 1) For Average NOI yield (before depreciation) and Average NOI yield (after depreciation), please refer to [Reference] Definitions of Individual Calculation Formulas herein below. (Note 2) The total (anticipated) acquisition price after the anticipated acquisitions includes the acquisition of a portion of the leased land of AEON MALL Itami on April 24, 2013 for the acquisition price of 378 million. 2. Rationale for Acquisition We have decided to acquire the properties based on the judgment that these new acquisitions will expand our asset size, improve profitability and stability of our portfolio and contribute to raising and stabilizing distributions levels. The earnings forecasts have been revised to reflect these acquisitions and associated funding. For details of these revisions, please refer to the press release titled "Notice Concerning Revised Forecasts for Operating Results and Distributions for August 2013 (23 rd ) Fiscal Period and February 2014 (24 th ) Fiscal Period and Forecast for Operating Results and Distributions August 2014 (25 th ) Fiscal Period" dated today. For details of our decision-making process in determining to acquire the 8 properties at this time, please refer to section "3. Description of Properties to be Acquired". Forecasts of distributions per unit before and after anticipated acquisitions 23 rd fiscal period ended Aug. 2013 Before anticipated acquisitions 24 th fiscal period ending Feb. 2014 Operation of anticipated properties to 5-month performance 25 th fiscal period ending Aug. 2014 Operation of anticipated properties to 6-month performance Number of properties 76 properties 76 properties 84 properties 84 properties Distributions per unit as announced previously 3,890 (forecast) 3,952 (forecast) (based on 76 properties) - Distributions per unit as announced today (Note) 3,918 (forecast) 4,034 (forecast) (based on 84 properties) 4,083 (forecast) Difference + 28 (up 0.7%) + 82 (up 2.1%) - The forecasts assume no transfer (acquisition of new properties and sales of current properties etc.) of properties will occur except for the anticipated acquisitions until the end of the August 2014 (25 th ) fiscal period. Unless noted otherwise, for any descriptions in Table "3. Description of Properties to be Acquired", please refer to [Reference] Descriptions of "3. Description of Properties to be Acquired" herein below. 2

3. Description of Properties to be Acquired G-Bldg. Ginza 01 (1) Property Summary Type of asset Trust beneficiary right Summary of Evaluator Shimizu Corporation Anticipated acquisition date (Note 1) in real estate October 3, 2013 building structure Evaluation date March 8, 2013 Anticipated acquisition price 5,500 million yen evaluation Immediate 0 yen Summary of trust beneficiary rights Date of trust beneficiary rights set Trustee March 28, 2013 Mitsubishi UFJ Trust and Banking Corp. Trust period end (Note 2) TBD Land Location (address) 5-1, Ginza 6-chome, Chuo-ku, Tokyo Short-term Long-term Building Structure / stories 0 yen 55,152,000 yen/12 years (4,596,000 yen per year) 9-story (8 floors above ground and 1 basement floor), S/RC-structure building with flat roof Area 272.35m 2 Date built November 7, 1980 Zoning Commercial district Total floor area 2,130.59m 2 FAR / building-to-land 800%/80% Type Shops and offices ratio Type of possession Ownership Type of Ownership possession (Compartmentalized (Note 3) ownership) Collateral conditions N/A PML 5.4% Special notes: This building was designed and constructed under the earthquake resistance standards of the former Building Standards Act, and a section of the building does not satisfy current earthquake resistance standards. The seller is responsible for implementing a plan for seismic reinforcement which is scheduled to be completed at the end of November 2013. (Note 1) If the payment date is Oct 2, 2013, the anticipated acquisition date shall be Oct 3, 2013. However, if the payment date is either Oct 3, 2013 or Oct 4, 2013, the anticipated acquisition date may be changed to either Oct 4, 2013 or Oct 7, 2013. (Note 2) We expect to revise the trust contract after acquisition of the property. (Note 3) We plan to acquire all compartmentalized ownership of this property. (2) Summary of Leases for Properties to be Acquired Brioni and others Category Suit, apparel and others Number of tenant(s) 8 Total leased area (occupancy rate) 1,610.54m 2 (100.0%) Annual rent (excluding consumption tax) 270 million yen (Note 1) Renewal and revision of contract (for key tenant only) <Brioni Japan Co., Ltd.> Fixed-term lease contract in which the lease ends automatically when the lease term expires. Contract period of 6 years (until January 31, 2016). No revision of rent and common area charge during the lease term. (Note) Sum of all tenants. Period of contract - leasehold /security deposit ( leasehold deposit) 279 million yen (Reference: Summary of Appraisal Values) Appraiser Japan Real Estate Institute Appraisal value 5,780 million yen Appraisal date August 1, 2013 Value derived by DC method 5,880 million yen Capitalization rate 4.0% Value derived by DCF method 5,670 million yen Discount rate 3.8% Terminal capitalization rate 4.2% Value derived by cost method 4,160 million yen Proportion of land 94.4% Proportion of building 5.6% 3

G-Bldg. Ginza 01: Property Characteristics 4

Round1 Kyoto Kawaramachi (1) Property Summary Type of asset Anticipated acquisition date (Note 1) Trust beneficiary right in real estate October 3, 2013 Summary of building structure evaluation Evaluator Evaluation date Anticipated acquisition price 2,800 million yen Immediate Summary of Date of trust March 31, 2003 Short-term trust beneficiary rights set beneficiary Trustee Sumitomo Mitsui Trust Long-term rights Bank, Limited Trust period end March 31, 2023 Land Location (address) 585, Uraderacho, Shijo-agaru yori Rokkaku-sagaru made, Teramachi-dori, Nakagyo-ku, Kyoto-shi, Kyoto Building Structure / stories Tokyo Bldg-Tech Center Co.,Ltd March 18, 2013 0 yen 0 yen 102,480,000 yen/12 years (8,540,000 yen per year) 7 story, S-structure building with flat roof Area 1,816.70m 2 Date built March 16, 2001 Zoning Commercial district Total floor 8,821.66m 2 area FAR / building-to-land ratio 700%/80% Type Entertainment facility Type of possession Ownership Type of possession Ownership Collateral conditions N/A PML 4.2% Special notes: The subject land is within the perimeters of No.149 Odoi historic site and No. 170 Teramachi castle, which are designated buried cultural property sites under the Act on Protection of Cultural Properties. Any engineering work on this land requires notice at least 60 days prior to the start of such engineering work and may require excavation. (Note) If the payment date is Oct 2, 2013, the anticipated acquisition date shall be Oct 3, 2013. However, if the payment date is either Oct 3, 2013 or Oct 4, 2013, the anticipated acquisition date may be changed to either Oct 4, 2013 or Oct 7, 2013. (2) Summary of Leases for Properties to be Acquired Round1 Category Total amusement Number of tenant(s) 1 Total leased area (occupancy rate) 8,821.66m 2 (100.0%) Annual rent (excluding consumption tax) 208 million yen Renewal and revision of contract: Fixed-term lease contract in which the lease ends automatically when the lease term expires. No revision of rent during the lease term. Others: The contract cannot be cancelled for 10 years after the contract date until March 26, 2023 (Note) Consent not obtained from the tenant for disclosure. Period of contract 20 years (until March 26, 2033) leasehold /security deposit -(Note 1) (Reference: Summary of Appraisal Values) Appraiser Tanizawa Sogo Appraisal Co., Ltd Appraisal value 3,050 million yen Appraisal date August 1, 2013 Value derived by DC method 3,090 million yen Capitalization rate 5.2% Value derived by DCF method 3,030 million yen Discount rate 5.0% (1 st to 10 th year), 5.2% (11 th year) Terminal capitalization rate 5.4% Value derived by cost method 3,480 million yen Proportion of land 80.7% Proportion of building 19.3% 5

Round1 Kyoto Kawaramachi: Property Characteristics Shijo-Kawaramachi Area Map = JRF's property Kawaramachi Street Karasuma St. Round1 Kyoto Kawaramachi Lacoste Daimaru Emporio BENETTON NIKE Armani Shijo-dori Karasuma Sta. Louis Mont blanc Vuitton Fujii JILLSTUART Swarovski Daimaru Shijo Sta. Sanjo St. Rokkaku St. Tako Yakushi St. Hotel Unizo Kyoto Kyoto Nishiki Ichiba shopping district Teramachi Kyogoku shopping district Shin-kyogoku shopping district Rokkaku St. Ura Teramachi St. Kyoto Takashimaya Kawaramachi shopping district Kawaramachi St. Under Development (Former Kyoto BAL) Kawaramachi Koto Cross OPA Hankyu Kawaramachi Sta. Kyoto Marui Kiyamachi St. Kamogawa Riv. Acquisition Highlights An amusement facility complex located in a busy shopping quarter of Kyoto Market A retail trade area population of approximately 260,000 within a threekilometer radius and approximately 670,000 within a five-kilometer radius One of Kyoto s major shopping districts, lined with amusement facilities, cafes, restaurants and fashion brand stores Location A five-minute walk from Kawaramachi Station of Hankyu Railway Kyoto Line Located on Kawaramachi Street, one of Kyoto's major thoroughfares, making the facility highly visible and accessible Facility Ranked high among Round1's facilities in Japan in terms of sales revenue Anticipated acquisition price Adjusted NOI yield (before depreciation) Adjusted NOI yield (after depreciation) Average remaining term of lease 2,800 million 5.9% 5.0% 19.5 years Appraisal value Location Year of initial construction 3,050 million Nakagyo Ward, Kyoto, Kyoto 2001 Land area 1,816.70 m 2 Floor area 8,821.66 m 2 No. of tenants 1 Key tenant Round1 6

Round1 Hiroshima (1) Property Summary Type of asset Anticipated acquisition date (Note 1) Trust beneficiary right in real estate October 3, 2013 Summary of building structure evaluation Evaluator Evaluation date Anticipated acquisition price 2,970 million yen Immediate Summary of Date of trust beneficiary January 16, 2003 Short-term trust rights set beneficiary Trustee Mitsubishi UFJ Trust Long-term rights and Banking Corp. Trust period end March 31, 2023 Land Location (address) 3-11, Tatemachi, Building Structure / Naka-ku, stories Hiroshima-shi, Hiroshima ERI SOLUTION CO.,LTD. March 19, 2013 0 yen 100,000 yen 49,430,000 yen/12 years (4,110,000 yen per year) 10-story (9 floors above ground and 1 basement floor), S-structure building with flat roof Area 2,078.64m 2 Date built December 11, 2003 Zoning Commercial district Total floor area 9,890.63m 2 FAR / building-to-land ratio (Note 2) 500%/80% Type Entertainment facility, retail and parking Ownership Type of possession Ownership Type of possession Collateral conditions N/A PML 2.9% Special notes: N/A (Note 1) If the payment date is Oct 2, 2013, the anticipated acquisition date shall be Oct 3, 2013. However, if the payment date is either Oct 3, 2013 or Oct 4, 2013, the anticipated acquisition date may be changed to either Oct 4, 2013 or Oct 7, 2013. (Note 2) Although FAR / building-to-land ratio is 500%, it has been reduced to 480% due to the restriction on the width of carriageway of the front road,. (2) Summary of Leases for Properties to be Acquired Round1 Category Total amusement Number of tenant(s) 1 Total leased area (occupancy rate) 9,890.63m 2 (100.0%) Annual rent (excluding consumption tax) 239 million yen Renewal and revision of contract: Fixed-term lease contract in which the lease ends automatically when the lease term expires. No revision of rent during the lease term. Others: The contract cannot be cancelled for 10 years after the contract date until March 26, 2023 (Note) Consent not obtained from the tenant for disclosure. Period of contract 20 years (until March 26, 2033) leasehold /security deposit -(Note 1) (Reference: Summary of Appraisal Values) Appraiser Tanizawa Sogo Appraisal Co., Ltd Appraisal value 3,610 million yen Appraisal date August 1, 2013 Value derived by DC method 3,640 million yen Capitalization rate 5.8% Value derived by DCF method 3,590 million yen Discount rate 5.6% (1 st to 10 th year), 5.8% (11 th year) Terminal capitalization rate 6.0% Value derived by cost method 2,510 million yen Proportion of land 60.2% Proportion of building 39.8% 7

Round1 Hiroshima: Property Characteristics Hacchobori and Kamiyacho Area Map Sogo EDION Koijo St. Kamiyacho intersection Kamiyacho-higashi Sta. Hondori Sta. Round1 Hiroshima Hiroden Line Aioi St. Hiroshima Kokusai Hotel Yours BEAMS Hondori Shopping Street Tokyu Hands Tatemachi Sta. Nakanotana shopping district Taito station ABC Mart Fukuya Annex Hacchobori Sta. Hiroshima Kinzagai shopping district PARCO Namiki St. Fukuya Hacchobori intersection Mitsukoshi Yamada Denki Ebisu St. shopping district PARCO Annex Don Quijote Hondori Shopping Street Acquisition Highlights An amusement facility complex located in the one of the largest shopping districts in the Chugoku region of Japan Market A retail trade population of approximately 260,000 within a three-kilometer radius and approximately 540,000 within a five-kilometer radius Hacchobori and Kamiyacho area is one of largest shopping districts in the Chugoku region in Japan Location A two-minute walk from Tatemachi Station Situated in the center of the Hacchobori and Kamiyacho area, the property is also adjacent to the vibrant Hondori Shopping Street Facility Ranked high among Round1's facilities in Japan in terms of sales revenue Anticipated acquisition price Adjusted NOI yield (before depreciation) Adjusted NOI yield (after depreciation) Average remaining term of lease 2,970 million 7.2% 5.9% 19.5 years Appraisal value Location Year of initial construction 3,610 million Naka Ward, Hiroshima, Hiroshima 2003 Land area 2,078.64 m 2 Floor area 9,890.63 m 2 No. tenants 1 Key tenant Round1 8

Colline Bajikouen (1) Property Summary Type of asset Anticipated acquisition date (Note 1) Trust beneficiary right in real estate October 3, 2013 Summary of building structure evaluation Evaluator Evaluation date Anticipated acquisition price 3,100 million yen Immediate Summary of Date of trust beneficiary September 30, 2008 Short-term trust rights set beneficiary Trustee Sumitomo Mitsui Long-term rights Trust Bank, Limited Trust period end March 25, 2023 Land Location (address) 4-18, Kamiyoga 2-chome, Setagaya-ku, Tokyo Building Structure / stories Tokyo Bldg-Tech Center Co.,Ltd March 14, 2013 0 yen 0 yen Building A and B : 98,090,000 yen/12 years (8,174,166 yen per year), Annex : 18,950,000 yen/12 years (1,579,166 yen per year) Building A : 4-story (3 floors above ground and 1 basement floor), RC-structure building with flat roof Building B : 4-story, S/RC-structure building with flat roof, Annex : 2-story, RC-structure with S structure galvanized steel sheet roof Area (Note 2) 4,102.47m 2 Date built Building A : April 9, 1992, Building B : April 9, 1992, Annex : April 7, 1992 Zoning FAR / building-to-land ratio (Note 3) Light-residential district, category II exclusive high and medium building residential district Total floor area Building A : 4,211.92m 2, Building B : 1,565.74m 2, Annex : 1,404.75m 2 200%/60% Type Building A : Retail, office and parking, Building B : Warehouse, office and gas station, Annex : Gymnasium and parking Type of possession Ownership Type of possession Ownership Collateral conditions N/A PML Building A and B : 14.3%, Annex : 3.8% Special notes: N/A (Note 1) If the payment date is Oct 2, 2013, the anticipated acquisition date shall be Oct 3, 2013. However, if the payment date is either Oct 3, 2013 or Oct 4, 2013, the anticipated acquisition date may be changed to either Oct 4, 2013 or Oct 7, 2013.. (Note 2) Although the road on the north of the land is subject to city planning, widening work has already taken place at this location. (Note 3) The building-to-land ratio of the main building is amended to 70% due to the addition of a corner lot. 9

(2) Summary of Leases for Properties to be acquired TSUTAYA and others Category Goods sales and others Number of tenant(s) 8 Total leased area (occupancy rate) 5,266.26m 2 (Note 1) (98.1%) Annual rent (excluding consumption tax) 227 million yen (Note 1) Period of contract - leasehold /security deposit ( leasehold deposit) 153 million yen Renewal and revision of contract (for key tenant only) <Culture Convenience Club Co.,Ltd.> Lease contract with the lease term of 9 years and 1 month (until March 31, 2017). Automatic renewal of the contract for 2 years if one party does not notify the counter party its intent to terminate the contract in writing 8 months prior to maturity of the lease term. Same applies going forward. Rent is subject to revision upon discussion every 2 years, taking into account the rents for similar buildings in the neighborhood, changes in taxes and public charges and other factors. Others: On May 31, 2013, JRF received notification from tenant for cancellation of leased area (378.52 m 2 ) with the cancellation date at the end of January 2014. (Note) Sum of all tenants. (Reference: Summary of Appraisal Values) Appraiser Japan Real Estate Institute Appraisal value 3,580 million yen Appraisal date August 1, 2013 Value derived by DC method 3,610 million yen Capitalization rate 4.8% Value derived by DCF method 3,550 million yen Discount rate 4.5% Terminal capitalization rate 5.0% Value derived by cost method 3,690 million yen Proportion of land 84.3% Proportion of building 15.7% 10

Colline Bajikouen: Property Characteristics Bajikouen and Keyaki Square Acquisition Highlights A retail complex that serves the daily needs of the local residents, located in a residential area in Tokyo Market A retail trade area population of approximately 50,000 within a onekilometer radius and approximately 420,000 within a three-kilometer radius Location Located on Setagaya Street, which connects two Metropolitan circular routes Located in a highly populated residential neighborhood of Tokyo 23 Wards Close proximity to Bajikouen, a place of leisure for nearby residents Facility A neighborhood shopping center that encompasses a variety of tenants A crucial brunch for TSUTAYA, a major retail store that sells books and rents CDs and DVDs Anticipated acquisition price Adjusted NOI yield (before depreciation) Adjusted NOI yield (after depreciation) Average remaining term of lease 3,100 million 5.4% 4.6% 5.2 years Appraisal value 3,580 million Location Year of initial construction Setagaya Ward, Tokyo 1992 Land area 4,102.47 m 2 Floor area No. of tenants 8 Key tenant TSUTAYA Building A 4,211.92 m 2 Building B 1,565.74 m 2 Annex 1,404.75 m 2 Total 7,182.41 m 2 11

KAMISHIN PLAZA (1) Property Summary Type of asset Anticipated acquisition date (Note 1) Trust beneficiary right in real estate October 3, 2013 Summary of building structure evaluation (Note 3) Evaluator Evaluation date Anticipated acquisition price 3,900 million yen Immediate Summary of trust beneficiary rights Date of trust beneficiary rights set Trustee Trust period end (Note 2) March 10, 2006 Mitsubishi UFJ Trust and Banking Corp. TBD Land Location (address) 6-12, Osumi 1-chome, Higashiyodogawa-ku, Osaka-shi, Osaka Short-term Long-term Building Structure / stories Area 12,764.54m 2 Date built (Note 4) Zoning FAR / building-to-land ratio ERI SOLUTION CO.,LTD. Main : August 29, 2013, Annex : August 29, 2013 Main : 20,000 yen, Annex : 0 yen 0 yen Main : 401,590,000 yen/12 years (33,460,000 yen per year), Annex : 16,320,000 yen/12 years (1,360,000 yen per year) Main : 3-story (2 floors above ground and 1 basement floor), RC-structure building with flat roof, Annex : 2 story, S-structure building with flat roof, Machinery block : S-structure building with flat roof, Food court building : 2-story, S-structure building with galvanized steel sheet roof Main : May 1, 1980, Annex : May 1, 1980, Machinery block : May 1, 1980, Food court building : November 30, 2002 Neighborhood commercial district Total floor area Main : 17,734.13m 2, Annex : 253.46m 2, Machinery block : 39.10m 2, Food court building : 637.57m 2 300%/80% Type Main : retail, Annex : retail, Machinery block : machinery room, Food court building : retail Type of possession Ownership Type of possession (Note 5) Ownership (Compartmentalized ownership) Collateral conditions N/A PML 3.7% Special notes: The fire equipment report raised several issues, however, the seller has agreed to be responsible for correcting any of these issues that may affect legal compliance at its expense. The engineering report (main building) indicated that there are concrete block walls on the boundary of the east and north sides whose height exceeds 1.2m and that are not reinforced with spurs. As part of the seller s responsibilities, the seller has agreed to correct such compliance matters at its expense. Electric cables are installed and maintained on a part of the land and there exists an easement for the installation and maintenance of these cables. A part of this building was designed and constructed under the earthquake resistance standards of the former Building Standards Act, and a part of the machinery house does not satisfy current earthquake resistance standards. There is a 12

plan for seismic reinforcement to be performed immediately after acquisition. The construction cost is estimated to be roughly 10 million yen. The subject land is within the perimeter of Sanpou-ji Temple historic site which is a designated buried cultural property site under the Act on Protection of Cultural Properties. Any engineering work on this land requires notice at least 60 days prior to the start of such engineering work and may require excavation. (Note 1) If the payment date is Oct 2, 2013, the anticipated acquisition date shall be Oct 3, 2013. However, if the payment date is either Oct 3, 2013 or Oct 4, 2013, the anticipated acquisition date may be changed to either Oct 4, 2013 or Oct 7, 2013. (Note 2) We expect to revise the trust contract on the anticipated acquisition date. (Note 3) Information in the column "Summary of building structure evaluation" is based on the engineering report of main and annex building by ERI SOLUTION CO., LTD.. In the report, "main building" refers to main, annex and machinery house and "annex" refers to food court building. (Note 4) Based on registry for main, annex and food court buildings and on inspection completion date of the examination certificate for machinery house. (Note 5) We plan to acquire all compartmentalized ownership of this property. (2) Summary of Leases for Properties to be Acquired (Note 1) KOHYO, The Bank of Tokyo-Mitsubishi UFJ and others Category Supermarket, Bank and others Renewal and revision of contract N/A Others: N/A Number of tenant(s) 44 Total leased area (occupancy rate) 11,675.69m 2 (Note 2) (98.9%) Annual rent (excluding consumption tax) 435 million yen (Note 2) Period of contract (Note 1) Shows summary of lease contract with end-tenant as pass-through type master lease agreement applies to this property as of the data of this material. We plan to terminate the master lease agreement on the acquisition date and change to direct lease agreement with end-tenant. (Note 2) Sum of all tenants. - leasehold /security deposit ( leasehold deposit) 233 million yen (Note 2) (Reference: Summary of Appraisal Values) Appraiser Daiwa Real Estate Appraisal Co., Ltd Appraisal value 4,160 million yen Appraisal date August 1, 2013 Value derived by DC method 4,130 million yen Capitalization rate 5.9% Value derived by DCF method 4,170 million yen Discount rate 5.7% Terminal capitalization rate 6.1% Value derived by cost method 4,740 million yen Proportion of land 86.5% Proportion of building 13.5% 13

KAMISHIN PLAZA: Property Characteristics 14

Summit Store Nakano Minamidai (1) Property Summary Type of asset Trust beneficiary right in real estate Summary of building structure evaluation Evaluator Anticipated acquisition date (Note 1) October 3, 2013 Evaluation date Anticipated acquisition price 3,100 million yen Immediate Summary of Date of trust beneficiary March 24, 2009 Short-term trust rights set beneficiary Trustee Sumitomo Mitsui Long-term rights Trust Bank, Limited Trust period end (Note 2) TBD Land Location (address) 26-2, Minamidai Building Structure / 5-chome, Nakano-ku, stories Tokyo PROPERTY RISK SOLUTION Corporation August 27, 2013 0 yen 0 yen 18,610,000 yen/12 years (1,550,833 yen per year) 3-story (2 floors above ground and 1 basement floor), SRC / S-structure building with flat roof Area 2,035.14m 2 Date built February 17, 2009 Zoning Light-industrial Total floor area 3,524.02m 2 district FAR / building-to-land 200%/60% Type Retail and parking ratio (Note 3) Type of possession Ownership Type of possession Ownership Collateral conditions N/A PML 3.7% Special notes: N/A (Note 1) If the payment date is Oct 2, 2013, the anticipated acquisition date shall be Oct 3, 2013. However, if the payment date is either Oct 3, 2013 or Oct 4, 2013, the anticipated acquisition date may be changed to either Oct 4, 2013 or Oct 7, 2013. (Note 2) We plan to revise the trust contract on the anticipated acquisition date. (Note 3) The building-to-land ratio of the main building is amended to 70% due to the addition of a corner lot. (2) Summary of Leases for Properties to be acquired Category Number of tenant(s) Summit Store Supermarket 1 Total leased area (occupancy rate) 3,536.50m 2 (100.0%) Annual rent (excluding consumption tax) 168 million yen Period of contract 20 years (until March 17, 2029) leasehold /security deposit ( leasehold deposit) 140 million yen Renewal and revision of contract: Fixed-term lease contract in which the lease ends automatically when the lease term expires. Starting on the first month following the month in which the 5 th anniversary of the start of the lease falls, the rental amount can be revised, through discussion, once every 3 years. For the first 14 years, the change in rent is limited for an increase only. Others: The contract cannot be cancelled during the lease period. The contract may be cancelled if the consent of the lessor is obtained with the following conditions. pays the rent for the rest of the lease period. introduces substitute tenant to the lessor for acceptance and the substitute tenant enters into a contract with the lessor to pay a rent which is equal to or higher than the current rent, or the tenant pays the rent difference from the day after the cancellation date to the end of contract date, in case where the rent is less than the current rent. (Reference: Summary of Appraisal Values) Appraiser Japan Real Estate Institute Appraisal value 3,180 million yen Appraisal date August 1, 2013 Value derived by DC method 3,210 million yen Capitalization rate 4.9% Value derived by DCF method 3,150 million yen Discount rate 4.6% 15

Terminal capitalization rate 5.1% Value derived by cost method 2,740 million yen Proportion of land 82.2% Proportion of building 17.8% 16

Summit Store Nakano Minamidai: Property Characteristics 17

KAWASAKI Le FRONT (1) Property Summary Type of asset Anticipated acquisition date Trust beneficiary right in real estate October 7, 2013 Summary of building structure evaluation Evaluator Evaluation date Anticipated acquisition price 30,000 million yen Immediate (Note 1) September 29, 2003 Summary of trust beneficiary rights Date of trust beneficiary rights set Trustee Trust period end (Note 2) Mitsubishi UFJ Trust and Banking Corp. TBD Land Location (address) 1-11, Nissincho, Kawasaki-ku, Kawasaki-shi, Kanagawa Area (Note 3) (Note 4) (Note 5) (Note 6) Short-term (Note 1) Long-term (Note 1) Building Structure / stories ERI SOLUTION CO.,LTD. August 27, 2013 0 yen 100,000 yen 2,128,810,000 yen / 12 years (177,400,833 yen per year) Main : 14-story (12 floors above ground and 2 basement floors), S/RC/SRC structure building with flat roof, Parking lot tower : 3 basement floors, RC-structure 15,710.29m 2 Date built Main : February 29, 1988, Parking lot tower : February 29, 1988 Zoning Commercial district Total floor area (Note 8) FAR / building-to-land ratio (Note 7) Type of possession (Note 3) (Note 4) (Note 5) (Note 6) Sections (4) and (5) of the chart: 846.9%/80% Section (1) of the chart: 1,881.06%/80% Section (2) of the chart: 42.96%/80% Section (3) of the chart: 9.1%/80% Ownership and superficies (quasi-co-ownership) Chart (Note 9) (2) Type Type of possession (Note 8) (3) Main : 88,818.38m 2, Parking lot tower : 5,705.63m 2 Main : retail and parking, Parking lot tower : parking Ownership (co-ownership) (5) r(1) (4) Anticipated land Anticipated building Building owned by third party Collateral conditions N/A PML 4.9% Special notes: The trustee has entered into an agreement regarding surface rights with the owner of a portion of the subject land which discusses the quasi co-ownership interests of the surface rights under trust. Transfer of the surface rights or the main building to a third party requires written consent from such land owner in advance. The trustee has entered into an agreement regarding the conversion of rights with the other co-owner of the main building and the owner of a portion of the land. If the trustee decides to transfer all or part of its interests in the main building or a section of the land (sections (4) and (5) in the chart above), the other co-owner of the building and such land owner shall be granted a right of first refusal. It has been confirmed that a spraying material containing asbestos has been used on fireproof partitioning walls on each 18

floor except for the basement of the property. However, there is no concern of asbestos becoming airborne since the walls are covered and anti-scattering measures have been implemented. The engineering report raised several issues regarding construction and extensions to the building. As part of the seller's responsibilities, the seller has agreed to assume responsibility for correcting any of these issues that may affect legal compliance at its expense. (Note 1) Sum of the main building and the parking lot tower. (Note 2) We plan to revise the trust contract on the anticipated acquisition date. (Note 3) Trust beneficial owner holds landownership for section (5) (9,155.75 m 2 ) and superficies for section (4) (quasi-co-ownership of 63%)(880.31 m 2 ) of the chart above. (Note 4) Based on the settlement contract of leasehold, a part of the land (section (1)) is leased to the building owner. The building on section (1) does not constitute the property. (Note 5) Based on the settlement contract of fixed-term leasehold for a business use, a part of the land (section (2)) is leased to Kawasaki-shi and Kawasaki-shi possesses bicycles parking space on section (2). (Note 6) A part of the land (section (3)) is leased to Kawasak-shi without compensation and Kawasaki-shi uses the land for municipal park. (Note 7) This property is located in the authorized area of collective housing and FAR is determined by building agreement of Kawasaki station Nissincho district. (Note 8) Trust beneficial owner has co-ownership (97.22%) of the main building and entire ownership of the parking lot tower. The remaining ownership (2.78%) is subject for leasing from the co-owner to beneficial owner. (Note 9) Chart of building and site has been drawn by Mitsubishi Corp UBS Realty Inc, the asset management company that takes on asset management for JRF (the "asset management company") for the purpose of illustration. Therefore, it may differ from the actual shape and area. (2) Summary of Leases for Properties to be Acquired(Note 1) Yodobashi Camera, Marui and others Category Electronics retail store, department store and others Number of tenant(s) 68 Total leased area (occupancy rate) 55,180.85m 2 (Note 2) (98.2%) Annual rent (excluding consumption tax) 3,639 million yen (Note 3) Period of contract leasehold /security deposit - -(Note 4) Renewal and revision of contract (for key tenant only) <Yodobashi Camera Co., Ltd.> Fixed-term lease contract with contract period of 20 years (until the end of February 2024) in which the lease ends automatically when the lease term expires. Rent may be discussed for revision every 3 years and no rent change shall occur otherwise. Article 32 of Act on Land and Building Leases does not apply. Others: <Yodobashi Camera Co., Ltd.> To terminate the contract during contract period, 1 year prior written notice is required. (Note 1) Shows summary of lease with end-tenant as pass-through type master lease agreement applies to a part of this property. (Note 2) Sum of all tenants. (Note 3) Sum of the figures for some master lease agreement and others contracts. (Note 4) Consent not obtained from the tenant for disclosure. (Reference: Summary of Appraisal Values) Appraiser Tanizawa Sogo Appraisal Co., Ltd Appraisal value 35,200 million yen Appraisal date August 1, 2013 Value derived by DC method 35,300 million yen Capitalization rate 5.0% Value derived by DCF method 35,100 million yen Discount rate 5.0% Terminal capitalization rate 5.2% Value derived by cost method 27,800 million yen Proportion of land 85.9% Proportion of building 14.1% 19

KAWASAKI Le FRONT: Property Characteristics KAWASAKI Le FRONT KAWASAKI Le FRONT JR Kawasaki Station Acquisition Highlights A large-scale, multi-tenant retail complex situated next to the JR Kawasaki Station, one of Japan's busiest rail hubs Market Kawasaki city is ranked ninth in terms of population and the population of Kawasaki is continuing to grow 1 A retail trade area population of approximately 440,000 within a three-kilometer radius and 980,000 within a fivekilometer radius Kawasaki city ranks third in terms of population density and sixth in terms of annual sales per sales floor for large scale retail propertie 1 Location Situated in front of the JR Kawasaki Station, one of Japan's busiest stations (approximately 370,000 passengers per day) Facility Boasts one of the largest revenues (over 30 billion per year) and floor space (42,500 m 2 ) among the retail properties at the station's east entrance A large scale multi-tenant retail facility that houses a major fashion-oriented retailer and a large home appliance retailer, as well as other businesses and shops that cater to the needs of various customers Notes: (1) Among 23 wards of Tokyo as a total and government-designated cities in Japan. (2) Land area includes the land with superficies (880.31 m 2 ). Floor area includes area for co-owners (2.78%). Anticipated acquisition price Adjusted NOI yield (before depreciation) Adjusted NOI yield (after depreciation) Average remaining term of lease 30,000 million 6.2% 5.0% 4.3 years Appraisal value Location Year of initial construction 35,200 million Kawasaki Ward, Kawasaki, Kanagawa 1988 Land area 2 15,710.29 m 2 Floor area 2 Parking lot tower 5,705.63 m 2 Main 88,818.38 m 2 Total 94,524.01 m 2 No. of tenants 68 Key tenants Yodobashi Camera, Marui 20

G-Bldg. Shinsaibashi 03 (1) Property Summary Type of asset Anticipated acquisition date Trust beneficiary right in real estate October 7, 2013 Summary of building structure evaluation Evaluator Evaluation date Anticipated acquisition price 22,300 million yen Immediate Summary of Date of trust beneficiary TBD Short-term trust rights set (Note 1) beneficiary Trustee (Note 1) TBD Long-term rights Trust period end (Note 1) TBD Land Location (address) 2-17, Shinsaibashisuji 1-chome, Chuo-ku, Osaka-shi, Osaka Building Structure / stories Tokyo Bldg-Tech Center Co.,Ltd August 23, 2013 0 yen 0 yen 36,420,000 yen/20 years (1,821,000 yen per year) 5-story (4 floors above ground and 1 basement floor), SRC / S-structure building with flat roof Area 1,168.84m 2 Date built August 16, 2010 Zoning Commercial district Total floor area (Note 8) 4,501.88m 2 FAR / building-to-land 500%/80% Type Retail ratio (Note 2) Type of possession Ownership Type of possession Ownership Collateral conditions N/A PML 5.5% Special notes: N/A (Note 1) We plan to acquire the trust beneficiary right upon the creation of trust on anticipated acquisition date. (Note 2) Due to fireproof building in fire control area, building-to-land ratio for the property has been raised to 100%. (2) Summary of Leases for Properties to be Acquired Category Number of tenant(s) UNIQLO Retail 1 Total leased area (occupancy rate) 4,631.13m 2 (100.0%) Annual rent (excluding consumption tax) -(Note 1) Period of contract 10 years and 1 month (until September 30, 2020) Renewal and revision of contract: Fixed-term building lease contract which will end at the end of contract period. Others: The contract cannot be cancelled during the period of contract (10 years and 1 month, until September 30, 2020). (Note) Consent not obtained from the tenant for disclosure. (Reference: Summary of Appraisal Values) Appraiser CBRE K.K. Appraisal value 23,100 million yen Appraisal date August 1, 2013 Value derived by DC method 22,800 million yen Capitalization rate 4.3% Value derived by DCF method 23,100 million yen Discount rate 4.0% Terminal capitalization rate 4.3% Value derived by cost method 21,400 million yen Proportion of land 88.2% Proportion of building 11.8% leasehold /security deposit -(Note 1 ) 21

G-Bldg. Shinsaibashi 03: Property Characteristics 22

Firms Involved in Design, Construction and Building Certification for Properties to be Acquired Design Construction Constructional Inspector G-Bldg. Ginza 01 Kajima Corporation Class-1 architects office Kajima Corporation Chuo-ku building official Round1 Kyoto Kawaramachi Task Architectural and Planning Office Tokyu Construction Co., Ltd. Osaka branch Kyoto Organization of Confirmation & Inspection Round1 Hiroshima Architect Connects Computerize Information Processing System Co.,Ltd. PENTA-OCEAN CONSTRUCTION CO., LTD. Japan ERI Co., Ltd. Building A Colline Bajikouen Building B ICHIKEN Co., Ltd. Class-1 architects' office ICHIKEN Co., Ltd. Kanto business division Setagaya-ku building official Annex Building KAMISHIN PLAZA Main Building Annex Building Machinery Block IWASAKI Architects &Engineers Co., Ltd. (construction) RUI SEKKEISHITSU Co., Ltd. (extension) IWASAKI Architects & Engineers Co., Ltd. Fudo Construction Co., Ltd. (construction) Fujiki Komuten Co., Ltd. (extension) Fudo Construction Co., Ltd. Osaka-shi building official (construction) (extension Osaka-shi building official Food Court Building Kagayaki Architectual Design Atelier Inc. Class-1 architects office Tanaka Futoshi Koumuten Nihon Kakunin Kensa Center Co., Ltd. Summit Store Nakano Minamidai ICHIKEN Co., Ltd. Class-1 architects' office ICHIKEN Co., Ltd. Tokyo branch Japan ERI Co., Ltd. KAWASAKI Le FRONT Main Building Parking Lot Tower ISHIMOTO ARCHITECTUAL & ENGINEERING FIRM, INC Takenaka Corporation Yokohama branch Kawasaki-shi building official G-Bldg. Shinsaibashi 03 OBAYASHI CORPORATION Head Office Class-1 architects office OBAYASHI CORPORATION Head Office Nihon Kakunin Kensa Center Co., Ltd. 23

4. Profile of Sellers G-Bldg. Ginza 01 (1) Name Ginza 651 LLC (2) Location c/o Sakura Horwath & Co. 1-11 Kanda Jimbo-cho, Chiyoda-ku, Tokyo (3) Title & name of Representative Partner: DS Association representative Manager: Takao Ando (4) Line of business 1. Acquisition, possession and disposal of real estate 2. Lease and management of real estate 3. Acquisition, possession and disposal of Real Estate Trust Beneficiary Rights 4. Any other auxiliary and/or related businesses to the items described above (5) Capital 100,000 yen (6) Date established March 5, 2013 (7) Relationship with JRF / the asset management company (Note) Capital relationship Personal relationship Trade relationship Related parties SPC established for the purpose of acquiring, possessing and disposing the Real Estate Trust Beneficiary Rights in which Mitsubishi Corporation, the parent of the asset management company (51% stake) has made TK investment. The company falls under the category of the related parties in the context of Act on Investment Trusts and Investment Corporation. The company falls under the category of the related parties of the asset management company in the context of its rules and regulations on business transactions with related parties. The company has outsourced asset management to Diamond Realty Management Inc., a wholly-owned subsidiary of Mitsubishi Corporation, the parent of the asset management company. Also, the company has outsourced property management to Mitsubishi Corporation Urban Development, Inc., a subsidiary (98.7% ownership) of Mitsubishi Corporation, the parent of the asset management company. (Note) This transaction falls under the category of transactions with interested parties, in the context of the asset management company's rules and regulations on business transactions with related parties. Therefore, this transaction has been affirmed by the Compliance Office in accordance with the bylaws of the asset management company, and also has been approved by the Investment Committee and the Board of Directors of the asset management company through discussions/deliberations. Approval of the transaction requires at least 6 out of 8 directors voting in favor at the Board of Directors meeting. Ownership History of Properties to be Acquired Owner history Previous owner Former owner (Note) Name Relationship with interested parties of JRF/the asset management company Background/reasons for acquisition Ginza 651 LLC SPC in which the parent company of the asset management company has made TK investment For ownership purposes Other than those that have special interest in JRF/the asset management company Acquisition price 5,280 million yen - Acquisition date March 28, 2013 - When acquiring this property, there is need to bear certain expenses such as the expenses of establishing an SPC. - - Round1 Kyoto Kawaramachi and Colline Bajikouen (1) Name SSG4 LLC (2) Location c/o Sakura Horwath & Co. 1-11 Kandajimbo-cho, Chiyoda-ku, Tokyo (3) Title & name of Representative Partner: DS Association representative Manager: Takafumi Inaba (4) Line of business 1. Acquisition, possession and disposal of real estate 2. Lease and management of real estate properties 3. Acquisition, possession and disposal of Real Estate Trust Beneficiary Rights 4. Any other auxiliary and/or related businesses to the items described above (5) Capital 100,000 yen (6) Date established March 26, 2010 (7) Relationship with JRF or asset manager (Note) Capital relationship Personal relationship Trade relationship Related parties SPC established for the purpose of acquiring, possessing, and disposing the Real Estate Trust Beneficiary Rights in which Mitsubishi Corporation, the parent of the asset management company (51% stake) has made TK investment. The company falls under the category of the related parties in the context of Act on Investment Trusts and Investment Corporation. The company falls under the category of the related parties of the asset management company in the context of its rules and regulations on business transactions with related parties. The company has outsourced asset management to Diamond Realty Management Inc., a 24

(Note) wholly-owned subsidiary of Mitsubishi Corporation, the parent of the asset management company. This transaction falls under the category of transactions with interested parties, in the context of the asset management company's rules and regulations on business transactions with related parties. Therefore, this transaction has been affirmed by the Compliance Office in accordance with the bylaws of the asset management company, and also has been approved by the Investment Committee and the Board of Directors of the asset management company through discussions/deliberations. Approval of the transaction requires at least 6 out of 8 directors voting in favor at the Board of Directors meeting. Ownership History of Properties to be Acquired (Round1 Kyoto Kawaramachi) Owner history Previous owner Former owner Name SSG4 LLC (Note) Relationship with interested parties of JRF/the asset management company Background/reasons for acquisition SPC in which the parent company of the asset management company has made TK investment For ownership purposes Other than those that have special interest in JRF/the asset management company Acquisition price 2,750 million yen - Acquisition date March 27, 2013 - When acquiring this property, there is need to bear certain expenses such as the expenses of establishing an SPC. Ownership History of Properties to be Acquired (Colline Bajikouen) Owner history Previous owner Former owner Name SSG4 LLC (Note) Relationship with interested parties of JRF/the asset management company Background/reasons for acquisition SPC in which the parent company of the asset management company has made TK investment For ownership purposes - - Other than those that have special interest in JRF/the asset management company Acquisition price 3,050 million yen - Acquisition date March 26, 2013 - When acquiring this property, there is need to bear certain expenses such as the expenses of establishing an SPC. - - 25

Round1 Hiroshima (1) Name Iron Properties LLC (2) Location Nihonbashi 1-chome Bldg. 1-4-1 Nihonbashi, Chuo-ku, Tokyo (3) Title & name of Representative Partner: Surf Investment Association representative Manager: Keiichi Omura (4) Line of business 1. Acquisition, possession and disposal of Real Estate Trust Beneficiary Rights 2. Acquisition, possession, disposal, lease and management of real estate properties 3. Any other auxiliary and/or related businesses to the items described above (5) Capital 100,000 yen (6) Date established February 21, 2013 (7) Relationship with JRF or asset manager Capital relationship Personal relationship Trade relationship Related parties There are no capital, personal or business relationships to note between JRF/the asset management company and the company. In addition, there are no noteworthy capital, personal or business relationships between interested parties and affiliated companies of JRF / the asset management company and those of the company. The company does not fall under the category of a related party of JRF/the asset management company. In addition, none of the related parties and affiliated companies of this company fall under the category of the related parties of the asset management company. KAMISHIN PLAZA (1) Name Brightmoon Kamishinjo LLC (2) Location 1-7-20 Yaesu, Chuo-ku, Tokyo (3) Title & name of Representative Partner: Dream Retail Fund Holdings Association representative Manager: Shuichi Sasaki (4) Line of business 1. Acquisition, possession and disposal of real estate 2. Lease and management of real estate 3. Acquisition, possession and disposal of Real Estate Trust Beneficiary Rights 4. Investment in the company which aims for acquisition, possession and disposal of real estate or Real Estate Trust Beneficiary Rights 5. Any other auxiliary and/or related businesses to the items described above (5) Capital 100,000 yen (6) Date established June 29, 2007 (7) Relationship with JRF or asset manager (Note) Capital relationship Personal relationship Trade relationship Related parties SPC established for the purpose of acquiring, possessing and disposing the Real Estate Trust Beneficiary Rights 100% owned by a limited liability company in which Mitsubishi Corporation, the parent of the asset management company (51% stake), has made TK investment. Although Mitsubishi Corporation has made TK investments in a limited liability company that holds a 100% stake in the company, after taking into account factors such as stake holdings, contracts of TK investment and so on, the company does not fall under the category of the related parties in the context of Act on Investment Trusts and Investment Corporation or the asset management company's rules and regulations. The company has outsourced asset management to Diamond Realty Management Inc., a wholly-owned subsidiary of Mitsubishi Corporation, the parent of the asset management company and Diamond Realty Management Inc. falls under the category of the related parties of the asset management company in the context of the rules and regulations on business transactions with interested parties of the asset management company. (Note) This transaction falls under the category of transactions with interested parties, in the context of the asset management company's rules and regulations on business transactions with interested parties. Therefore, this transaction has been affirmed by the Compliance Office in accordance with the bylaws of JRF / the asset management company, and also has been approved by the Investment Committee and the board of directors of the asset management company through discussions/deliberations. Approval of the transaction requires at least 6 out of 8 directors voting in favor. Summit Store Nakano Minamidai (1) Name Brightmoon Nakano LLC (2) Location 1-7-20 Yaesu, Chuo-ku, Tokyo (3) Title & name of representative (4) Line of business Representative Partner: Dream Retail Fund Holdings Association Manager: Shuichi Sasaki 1. Acquisition, possession and disposal of real estate 2. Lease and management of real estate 3. Acquisition, possession and disposal of Real Estate Trust Beneficiary Rights 4. Investment in the company which aims for acquisition, possession and disposal of real estate or Real Estate Trust Beneficiary Rights 26