Frontier Real Estate Investment : Notice Concerning Execution of Long-term Borrowings

Translation Purpose Only

September 27, 2023

To All Concerned Parties

6-8-7 Ginza, Chuo-ku, Tokyo

Frontier Real Estate Investment Corporation

Takao Iwadou, Executive Director

(Securities Code: 8964)

Asset Management Company:

Mitsui Fudosan Frontier REIT Management Inc.

Shintaro Ono

Chief Executive Officer and Representative

Director

Inquiries:

Mitsui Fudosan Frontier REIT Management Inc.

Teruyuki Hayashi

Chief Finance Officer and Director

Tel: [phone]

Notice Concerning Execution of Long-term Borrowings

Frontier Real Estate Investment Corporation (the "Investment Corporation") hereby announces that today it has decided to execute long-term borrowings.

1. Execution of Long-term Borrowings

1. Purpose

To appropriate for a part of the payment of the acquisition of the property (Mitsui Shopping Park LaLaport IZUMI (18.5% quasi co-ownership stake)), stated in the press release "Notice Concerning the Acquisition of Trust Beneficiary Rights to Real Estate Property and Real Estate Properties in Japan (Mitsui Shopping Park LaLaport IZUMI (18.5% Quasi Co-Ownership Stake) and Shin-Kawasaki Square)" announced on August 15, 2023.

(2) Details
①	Drawdown Date	: September 29, 2023
②	Repayment of Principal	: Payment in full on the maturity date
③	Loan Type	: Unsecured, Unguaranteed

• Lender, Amount, Maturity Date and Interest Rate:

Lender	Amount	Maturity Date	Interest Rate
The Gunma Bank, Ltd.	￥1,000 Million	September 30,	0.87625%
2030	(Interest Rate is fixed until the maturity date.)
JOYO BANK, Ltd.	￥1,000 Million	September 30,	0.87625%
2030	(Interest Rate is fixed until the maturity date.)
Shinkin Central Bank	￥2,000 Million	September 29,	1.15125%
2032	(Interest Rate is fixed until the maturity date.)
The Yamaguchi Bank, Ltd.	￥1,400 Million	September 29,	1.19625%
2033	(Interest Rate is fixed until the maturity date.)

2. Change in the Balance of Borrowings etc.

	Before	After	Variance
	This Financing	This Financing
Short-term Borrowings	－	－	－
Long-term Borrowings	107,200	112,600	＋5,400
Investment Corporation	13,500	13,500	－
Bonds
Total	120,700	126,100	＋5,400

1. Long-termBorrowings include the balance of borrowings due within one year.

3. Others

Regarding the loan repayment risk, there is no significant change to the "Investment risks" description in the latest securities report submitted on March 30, 2023.

Frontier Real Estate Investment Corporation website: https://www.frontier-reit.co.jp/en/

Disclaimer

This information was originally publicized in the original Japanese language and has been translated for reference purposes only. Frontier Real Estate Investment Corporation guarantees neither the completeness nor the accuracy of this English translation. For complete and accurate information, please refer to the press release in Japanese. In addition, this press release is not prepared as an inducement or invitation for investment. All readers are advised to consult their own investment advisors before investing in the Investment Corporation. Investment decisions are made at the investor's sole discretion and responsibility and are made at their own risk. The Investment Corporation and its affiliates disclaim any responsibility or liability for the consequence of investment in the Investment Corporation.