Notice Concerning CDP Climate Change Program Assessment Results: IIF Designated as “A- Score”

December 14, 2022

To all concerned parties:

Investment Corporation

Industrial & Infrastructure Fund Investment Corporation

(Tokyo Stock Exchange Company Code: 3249)

Representative:	Kumi Honda, Executive Director
	URL: https://www.iif-reit.com/english/
Asset Management Company
KJR Management
Representative:	Naoki Suzuki,
	President & Representative Director
Inquiries:	Hidehiko Ueda,
	Head of Industrial Division

TEL: [phone]

Notice Concerning CDP Climate Change Program Assessment Results:

IIF Designated as "A- Score"

Industrial & Infrastructure Fund Investment Corporation ("IIF") hereby announces today that IIF participated in the Carbon Disclosure Project ("CDP") Climate Change Program, which assesses activities for disclosure of information related to climate change, for the first time in 2022 and received a score of " A- Score", the highest "Leadership" level.

1. About CDP

CDP is an international non-profit organization researching measures taken against global warming by listed companies with the support of institutional investors around the world managing total investments of $130 trillion. CDP has gradually come under the spotlight in recent years as private sector effort working to ensure the effectiveness of the Paris Agreement, which went into effect on November 4, 2016.

Since 2003, CDP has been sending out questionnaires every year to major companies around the world seeking the disclosure of information with relation to areas such as business risks and opportunities coming about due to greenhouse gas emissions and climate change. CDP then assesses corporate actions being taken against the issue of climate change based on their responses. In terms of assessments, there are eight grades: A, A-, B, B-, C, C-, D, and D-. IIF participated in CDP Climate Change Program for the first time in 2022.

For more details on the assessment, please refer to "Our work" in CDP's web site.

CPD Web Site: https://www.cdp.net/en

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2. Our Actions Regarding Sustainability

IIF and its asset manager, KJR Management ("Asset Manager") have proactively promoted sustainability initiatives for environment and entire society. In June 2021, IIF has established new CO2 emissions reduction targets toward realization of carbon neutrality by 2050.

• Asset Manager's basic policy on sustainability

The Asset Manager has proactively promoted sustainability initiatives for environment and entire society.

Please refer to the site below for information on the Asset Manager's actions on sustainability:

Asset Manager's Web Site: https://kjrm-sustainability.disclosure.site/en/

• IIF's basic policy on sustainability

IIF has proactively promoted sustainability initiatives for environment and entire society through communications with stakeholders, strengthening of connections with local communities by social contribution and environmental consciousness and reduction of environmental load of portfolio assets.

Please refer to the site below for information on IIF actions on sustainability: IIF Web Site: https://iif-reit_sustainability.disclosure.site/en/themes/79/

Reference Information: Environmental certifications of the properties

IIF acquired environmental certification for its portfolio through sustainability activities. Please refer to the site below for information on environmental certifications acquired by IIF: IIF Web Site: https://iif-reit_sustainability.disclosure.site/en/themes/79/

IIF will continue to conduct operations giving consideration to environment and social responsibility.

About IIF: Industrial & Infrastructure Fund Investment Corporation ("IIF") is the first J-REIT focused on acquiring and operating both industrial and infrastructure properties in Japan－properties that play a vital role in the Japanese economy, and for which IIF expects to see stable demand in the mid to long term. With respect to industrial properties, IIF intends to invest in a diverse portfolio of properties, including manufacturing and research and development facilities.

Please refer to our website athttps://www.iif-reit.com/english/

Contacts: For the further information relating to this press release as well as IIF and its Asset Manager, please feel free to contact Mr. Hidehiko

Ueda (Telephone Number: 81-3-5293-7090), Head of Industrial Division at KJR Management, asset manager for Industrial & Infrastructure Fund Investment Corporation.

Investor Relations: Telephone Number: 81-3-5293-7091E-mail:[e-mail]

This English language release is for informational purposes only, and the Japanese language release should be referred to as the original.

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