Frontier Real Estate Investment : Notice Concerning Execution and Repayment of Long-term Borrowing

Translation Purpose Only

November 26, 2021

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 and Repayment of Long-term Borrowing

Frontier Real Estate Investment Corporation (the "Investment Corporation") hereby announces that today it has decided to execute long-term borrowing. The Investment Corporation, additionally, announces it would repay long-term borrowing on November 30, 2021. Details are provided below.

1. Execution of Long-term Borrowing

1. Purpose

To appropriate for the repayment of long-term borrowing as of November 30, 2015.

(2) Details
①	Drawdown Date	: November 30, 2021
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
Sumitomo Mitsui Trust Bank,	￥2,000 Million	Nobember 30,	0.34000%
Limited	2028	(Interest Rate is fixed until the maturity date.)

2. Repayment of Long-term Borrowing

Details of the repayment of long-term borrowing on November 30, 2021 are as follows.

	Lender		Borrowing	Drawdown	Maturity	Repayment		Loan Type
		Amount	Date	Date	of Principal
	Sumitomo Mitsui Trust		November 30,	November 30,	Payment in full		Unsecured
	￥2,000 Million	on the maturity
	Bank, Limited	2015	2021		Unguaranteed
		date

3. Change in the Balance of Borrowings etc.

			(Unit	: ￥Million)
	Before	After		Variance
	This refinance	This refinance
Short-term Borrowings	－	－		－
Long-term Borrowings	109,900	109,900		－
Investment Corporation	13,500	13,500		－
Bonds
Total	123,400	123,400		－

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

4. Others

Regarding the loan repayment risk, there is no significant change to the "Investment risks" description in the latest securities report submitted on September 29, 2021.

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.