Heiwa Real Estate REIT : Notice Concerning Change of Directors in Asset Management Company

March 25, 2024

For Immediate Release

REIT Issuer

HEIWA REAL ESTATE REIT, Inc. 5-1 Nihonbashi Kabuto-cho, Chuo-ku, Tokyo

Aya Motomura, Executive Director

(Securities Code: 8966)

Asset Management Company

HEIWA REAL ESTATE Asset Management CO., LTD.

Masanori Hirano, Representative Director, President and Chief Executive Officer Inquiries: Naomi Kawasaki, General Manager of Planning & Finance Department

TEL. [phone]

Notice Concerning Change of Directors in Asset Management Company

HEIWA REAL ESTATE REIT, Inc. (the "Investment Corporation") announces that HEIWA REAL ESTATE Asset Management CO., LTD. (the "Asset Management Company") today decided on change in directors of the Asset Management Company at the general meeting of shareholders held today, as described below.

Details

Change of Directors

1. New Director (on April 1, 2024)

Director (part-time) Naoyuki Matsumoto

* Brief personal profile of the new director is shown in the attached.

2.

Retiring Director (on March 31, 2024)

Director (part-time) Kiichi KikuchiThe respective filings required pursuant to the Financial Instruments and Exchange Act, Building Lots and Buildings Transaction Business Act and other applicable laws and regulations, and rules will be performed for this matter.

* Investment Corporation Website:https://www.heiwa-re.co.jp/en/

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[Attachment] Biography of Newly Appointed Director

Title	Name	Career Highlights
Director （Part-time）	Naoyuki Matsumoto	Apr. 1994 Apr. 2011 Jun. 2012 Jun. 2013 Jun. 2014 Jun. 2015 Jun. 2017 Jun. 2022 Apr. 2024	Joined HEIWA REAL ESTATE CO., LTD Deputy General Manager of General Affairs Division Planning & finance Group, HEIWA REAL ESTATE CO., LTD Deputy General Manager of General Affairs and Planning Headquarters Planning & finance Group, and Deputy General Manager of Development Business Division Real Estate Development Group, HEIWA REAL ESTATE CO., LTD Deputy General Manager of General Affairs and Planning Headquarters Planning & finance Group, HEIWA REAL ESTATE CO., LTD Deputy General Manager of Finance Department, HEIWA REAL ESTATE CO., LTD Deputy General Manager of Real Estate Solutions Department, HEIWA REAL ESTATE CO., LTD General Manager of Finance Department, HEIWA REAL ESTATE CO., LTD Managing Officer In charge of Finance Department General Manager of Finance Department, HEIWA REAL ESTATE CO., LTD (present position) Director (part-time), HEIWA REAL ESTATE Asset Management CO., LTD. Director (part-time), Housing Service Co., Ltd. Senior Managing Officer In charge of Finance Department General Manager of Finance Department, HEIWA REAL ESTATE CO., LTD (to be inaugurated) Director (part-time), HEIWA REAL ESTATE Asset Management CO., LTD. (to be inaugurated) Director (part-time), Housing Service Co., Ltd. (to be inaugurated)

airs and Planning Headquarters

airs and Planning Headquarters

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