Industrial & Infrastructure Fund Investment Corporation ("IIF") announced that the appointment of two new directors for KJR Management, the Asset Management Company of IIF (Former name: Mitsubishi Corp.-UBS Realty Inc.)(hereafter the "Asset Manager") were approved at the extraordinary general meeting of shareholders, and that organizational change and changes to the decision-making organization for asset management at the Asset Manager were approved on the same day at the meeting of the Board of Directors. (1) New directors (effective on June 1, 2022). Director: Daisuke Hiramoto (Part-time).

Brief Biography: June 2019 Director, KKR Japan (present post), June 2022 Part-time Director, KJR Management (scheduled). Director: Kensuke Kudo (Part-time). Brief Biography: June 2022 Director, KKR Japan (present post), June 2022 Part-time Director, KJR Management (scheduled).