Daiwa Office Investment : Notice Concerning Borrowing of Funds

This translation of the original Japanese notice is provided solely for information purposes. Should there be any discrepancy between this translation and the Japanese original, the latter shall prevail.

May 26, 2021

REIT Issuer: Daiwa Office Investment Corporation (Stock Code No.: 8976)

Representative: Motoi Takahashi, Executive Director

Asset Manager: Daiwa Real Estate Asset Management Co. Ltd.

Representative: Toshio Fukushima, President and Representative Director

Inquiries to: Takashi Chiba, General Manager, Corporate Division (Tel: [phone])

Notice Concerning Borrowing of Funds

We hereby give notice that Daiwa Office Investment Corporation (the "Investment Corporation") decided today to borrow a total of 3,400 million yen (the "Borrowing").

1. Details for the Borrowing

	Loan		Scheduled	Borrowing /	Repayment
Lender	Amount	Interest Rate	Borrowing	Repayment
Date
	(million yen)		Date	Method
Sumitomo Mitsui Banking		1 month Japanese Yen
1,400	TIBOR + 0.25%			2022/5/31
Corporation
	(Note1)
				Unsecured
		1 month Japanese Yen
			repayment
Shinsei Bank, Ltd.	1,000	TIBOR + 0.25%	2021/5/31	2022/5/31
in lump
		(Note1)
			sum
		3 month Japanese Yen
The 77 Bank, Ltd.	1,000	TIBOR + 0.45%			2031/5/30
		(Note2)

(Note1)Interest payments shall be made at the end of every month (If any such date is not a business day, the immediately following business day; and if such date falls within the next month, the preceding last business day of the month) and the repayment date. Interest Rate is calculated based on 1 month Japanese Yen TIBOR which Japanese Bankers Association ("JBA") announces two business days prior to the first day of the applicable period.

(Note2)Interest payments shall be made at the end of February, May, August and November (If any such date is not a business day, the immediately following business day; and if such date falls within the next month, the preceding last business day). Interest rate is calculated based on 3 month Japanese Yen TIBOR which Japanese Bankers Association ("JBA") announces two business days prior to the first day of the loan period.

1. Reason for the Borrowing
   The Borrowing will be provided for the repayment of 3,400 million yen borrowed in total due on May 31, 2021.
2. Date of Signing Contract May 26, 2021

1. Status of Interest-Bearing Liabilities after the Borrowing
   Please refer to "Reference" for the status of interest-bearing liabilities after the Borrowing.
2. Other Matters Required for Investors to Appropriately Understand and Evaluate the Above Information
   There arises no change in the content of the investment risks described at "1. Fund Information, 1-1 Status of Fund, 1-1-3 Investment Risk" of the Yukashouken Houkokusyo filed as of February 17, 2021 with respect to the risks involved in repayment of the Borrowing.
3. • End -

[Reference]

1. Outstanding Balance of Interest-Bearing Liabilities after the Borrowing

May 31, 2021		(Unit: JPY million)
		Before	After	Increase/
		the Borrowing	the Borrowing	Decrease
	Short-term loans (loan period: 1 year or less)	24,900	23,900	-1,000
	Long-term loans (loan period: over 1 year)	169,450	170,450	+1,000
	(Note)
	Total loans	194,350	194,350	0
	Investment corporation bonds	9,000	9,000	0
	Total interest-bearing liabilities	203,350	203,350	0

(Note) The long-term loans to be repaid within 1 year are included in the short-term loans.

1. Ratio of Floating-Rate and Fixed-RateInterest-Bearing Liabilities after the Borrowing

May 31, 2021			(Unit: JPY million)
			Total amount of interest-bearing		Ratio
			liabilities
	Floating-rateinterest-bearing liabilities		42,800		21.05%
	Fixed-rateinterest-bearing liabilities*		160,550		78.95%
	*Fixed-rateinterest-bearing liabilities include	liabilities changed from floating-rate	to fixed-rate through swap
transactions.
* Website URL of the Investment Corporation:	http://www.daiwa-office.co.jp/en/