Heiwa Real Estate REIT : Notice Concerning Introduction of Managing Officer System and Change of Director and Auditor at Asset Management Company

April 28, 2022

For Immediate Release

REIT Issuer

HEIWA REAL ESTATE REIT, Inc.

Aya Motomura, Executive Director

(Securities Code: 8966)

Asset Management Company

HEIWA REAL ESTATE Asset Management CO., LTD.

Masanori Hirano, President & Representative Director

Inquiries: Yoshio Ito, General Manager, Planning & Finance Department

TEL. [phone]

Notice Concerning Introduction of Managing Officer System and Change of Director and Auditor at Asset

Management Company

HEIWA REAL ESTATE REIT, Inc. (the "Investment Corporation") announces that HEIWA REAL ESTATE Asset Management CO., LTD. (the "Asset Management Company"), the company to which the Investment Corporation entrusts its asset management operations, resolved, at the meeting of its Board of Directors held on April 27, 2022 to introduce an Managing Officer System and to appoint Managing Officers, and to submit a proposal on the appointment of a Director and Auditor to the General Meeting of Shareholders to be held on June 28, 2022, as described below.

Details

1. Introduction of Managing Officer System and Appointment of Managing Officers

• (1) Purpose of Introduction of Managing Officer System

  To respond quickly to an operating environment that changes rapidly from one day to the next and to increase business scale and expand business more robustly, the Asset Management Company will assign the right people as executive-level employees to expedite business execution.

• (2) Overview of Managing Officer System ① A resolution of the Board of Directors shall be required to appoint or remove Managing Officers. ② Directors may concurrently serve as Managing Officers ③ The term of office of Managing Officers shall expire at the meeting of the Board of Directors convened directly after the Ordinary General Meeting of Shareholders to be held for the last fiscal year ending within two years after assumption of office. However, this shall not preclude the possibility of reappointment.

  ④ The relationship between Managing Officers and the Asset Management Company shall be set out in an

  Engagement Agreement.

• (3) Scheduled Date of Introduction June 28, 2022

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(4) Executive Directors Appointed

Name	New Title	Current Title
Masanori Hirano	Representative Director, President and Chief Executive Officer	President and Representative Director
Yasutaka Watanabe	Director, Managing Officer and Business Planning Division General Manager	Director and Business Planning Division General Manager *
Hideaki Sekine	Director, Managing Officer and Investment Management Division General Manager	Director and Investment Management Division General Manager *
Junichi Kawamura	Managing Officer and General Manager of Residence Asset Management Department	General Manager of Residence Asset Management Department
Yoshio Ito	Managing Officer and General Manager of Planning & Finance Department	General Manager of Planning & Finance Department

* Titles are those in the press release dated March 31, 2022 entitled "Notice Concerning Change of Directors in Asset

Management Company."

2. Directors to be changed

• (1) Director to be resigned (on June 23, 2022)Director to be retired

  Daisuke Kobayashi*

  * Scheduled to be appointed as the director of HEIWA REAL ESTATE CO., LTD by the resolution of the 102nd Ordinary General Meeting of Shareholders of the company to be held on June 24, 2022.

• (2) Directors to be changed (on June 28, 2022)

Director (part-time) to be newly appointed Director (part-time) to be retiredNaoyuki Matsumoto* Nobuhiro Seo

* Please refer to the Attached Material for the brief biography

3. Auditors to be changed (on June 28, 2022)

• (1) Auditor to be resigned

  Auditor (part-time) to be retired

• (2) Auditor to be changed

  Auditor (part-time) to be newly appointedShosaku ShimomuraDaisuke Kobayashi*

* Please refer to the Attached Material for the brief biography
(Reference) Officers of the Asset Management Company. (on June 28, 2022)
Representative Director, President and Chief Executive Officer	Masanori Hirano
Director, Managing Officer and Business Planning Division General Manager	Yasutake Watanabe
Director, Managing Officer and Investment Management Division General Manager	Hideaki Sekine
Director (part-time)	Tomoharu Nakao
Director (part-time)	Naoyuki Matsumoto
Auditor (part-time)	Daisuke Kobayashi
Managing Officer and General Manager of Residence Asset Management Department	Junichi Kawamura
Managing Officer and General Manager of Planning & Finance Department	Yoshio Ito
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[Attachment] Biography of Newly Appointed Director and Auditor

Title	Name	Career Highlights
Director (part-time)	Naoyuki Matsumoto	Apr. 1994 Apr. 2011 Jun. 2012 Jun. 2013 Jun. 2014 Jun. 2015 Jun. 2017	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 (present position)
Auditor (part-time)	Daisuke Kobayashi	Apr. 1993 Apr. 2010 Jun. 2010 Jun. 2011 Jun. 2013 Jun. 2014 Jun. 2020	Joined HEIWA REAL ESTATE CO., LTD Deputy General Manager of General Affairs Department, and Investor Relationship Section, HEIWA REAL ESTATE CO., LTD Deputy General Manager of Leasing Building Business Headquarters Sales Group, HEIWA REAL ESTATE CO., LTD Deputy General Manager of Leasing Building Business Headquarters Business Group, HEIWA REAL ESTATE CO., LTD General Manager of Leasing Building Business Headquarters Nagoya Brunch, HEIWA REAL ESTATE CO., LTD General Manager of Nagoya Branch, HEIWA REAL ESTATE CO., LTD Director and Business Planning Division General Manager, Heiwa Real Estate Asset Management CO., LTD (present position)

Planning & finance

airs and Planning Headquarters Deputy General Manager of Development

REAL ESTATE

airs and Planning Headquarters

HEIWA REAL ESTATE

HEIWA

Real

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

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