GLP J-REIT announced the borrowing of funds. New Borrowings include the loans which will be executed in accordance with the scheme of the sustainability finance framework established by GLP J-REIT (Sustainability Loan). Details of New Borrowings: Lenders- The syndicate of lenders comprises, Sumitomo Mitsui Banking Corporation, MUFG Bank Ltd., Mizuho Bank Ltd., Resona Bank, Limited, Development Bank of Japan Inc., Sumitomo Mitsui Trust Bank, Limited, The Bank of Fukuoka Ltd., Aozora Bank Ltd., SBI Shinsei Bank Ltd., The 77 Bank Ltd., and The Chugoku Bank Ltd.; Loan amount - JPY 8,000 million; Interest Rate - Base rate plus 0.205%; Drawdown date - February 29, 2024; Repayment date - February 28, 2030; Repayment method - Lump-sum repayment on repayment date; Security - Unsecured Not guaranteed.

Lenders- The syndicate of lenders comprises, Sumitomo Mitsui Banking Corporation, MUFG Bank Ltd., Mizuho Bank Ltd., Resona Bank, Limited, Sumitomo Mitsui Trust Bank, Limited, The Bank of Fukuoka Ltd., and The Chugoku Bank Ltd.; Loan amount - JPY 4,700 million; Interest Rate - Base rate plus 0.205%; Drawdown date - February 29, 2024; Repayment date - February 27, 2032; Repayment method - Lump-sum repayment on repayment date; Security - Unsecured Not guaranteed. Lenders- The syndicate of lenders comprises, Sumitomo Mitsui Banking Corporation, MUFG Bank Ltd., Mizuho Bank Ltd., Development Bank of Japan Inc., and The Norinchukin Bank.; Loan amount - JPY 2,990 million; Interest Rate - Base rate plus 0.310%; Drawdown date - February 29, 2024; Repayment date - February 28, 2033; Repayment method - Lump-sum repayment on repayment date; Security - Unsecured Not guaranteed. Lenders- MUFG Bank Ltd.; Loan amount - JPY 1,900 million; Interest Rate - 1.100%; Drawdown date - February 29, 2024; Repayment date - February 27, 2032; Repayment method - Lump-sum repayment on repayment date; Security - Unsecured Not guaranteed.

Lenders- The Minato Bank Ltd.; Loan amount - JPY 1,000 million; Interest Rate - Base rate plus 0.230%; Drawdown date - February 29, 2024; Repayment date - February 28, 2031; Repayment method - Lump-sum repayment on repayment date; Security - Unsecured Not guaranteed. Lenders- The Gunma Bank Ltd.; Loan amount - JPY 1,000 million; Interest Rate - Base rate plus 0.230%; Drawdown date - February 29, 2024; Repayment date - February 28, 2031; Repayment method - Lump-sum repayment on repayment date; Security - Unsecured Not guaranteed. Lenders- Resona Bank Limited; Loan amount - JPY 1,000 million; Interest Rate - Base rate plus 0.175%; Drawdown date - February 29, 2024; Repayment date - February 28, 2027; Repayment method - Lump-sum repayment on repayment date; Security - Unsecured Not guaranteed.

Reason for New Borrowings: New Borrowings will be used for the refinance of the outstanding borrowings (20,590 million yen in total) which is due on February 29, 2024 and March 1, 2024. New Borrowings include the Sustainability Loans to expand ESG financing. GLP J-REIT has been actively engaged in ESG financing to commit environmental sustainability and provide solution for social issues.

The total amount of ESG bonds issued by GLP J-REIT, which includes green bonds and sustainability bonds, is expanded to 45.5 billion yen, maintaining in the top in J-REIT industry as of the end of January 2024. GLP J-REIT aims to enhance ESG financing capability through not only ESG bonds but sustainability loans and green loans. The sustainability loan and green loan will be executed in accordance with the scheme of Sustainability Finance Framework and Green Finance Framework respectively.

GLP J-REIT plans to use the proceeds from the Sustainability Loans to repay a total of JPY 49 billion in existing borrowings (including subsequent refinancing) and related costs, which were used to acquire "GLP Sugito II", "GLP Urayasu III" and "GLP Tokyo II", the specified assets meeting the criteria of Eligible Sustainability Project. Amount, use and schedule of expenditure of funds to be procured: Amount of funds to be procured - JPY 20,590 million in total. Specific use of funds to be procured: The existing loans (totaling JPY 20,590 million) which is due for repayment on February 29, 2024 and March 1, 2024 will be repaid with the funds procured through the New Borrowings (JPY 20,590 million).

Schedule of expenditure - February 29, 2024.