Japan Excellent : Notice Concerning Use of 100% Renewable Energy Compatible with “RE100” for Operation of GRAND FRONT OSAKA

For Immediate Release

For Translation Purposes Only

November 29, 2021

Japan Excellent, Inc. (TSE: 8987)

Shuichiro Kayama, Executive Director

Asset Management Company:

Japan Excellent Asset Management Co., Ltd.

Representative:

Shuichiro Kayama, President

Contact:

Kazue Horikawa

General Manager, Corporate Planning Dept.

TEL: [phone]

Notice Concerning Use of 100% Renewable Energy Compatible with "RE100" for Operation of

GRAND FRONT OSAKA

Japan Excellent, Inc. (hereinafter "JEI") announces that, starting from September 2022, all the electricity necessary for the operation of the two properties of GRAND FRONT OSAKA, which are owned by JEI, will be sourced from "RE100" derived from renewable energy.

1. Overview

Starting from September 2022, all the electricity necessary for the operation of GRAND FRONT OSAKA (North Building) and GRAND FRONT OSAKA (Umekita Plaza・South Building), which are owned by JEI, will be sourced from electricity derived from renewable energy supplied by Kansai Electric Power Co., Inc. The electricity derived from renewable energy introduced this time is electricity compatible with "RE100" which was granted a non-fossil fuel certificate with tracking procured by Kansai Electric Power Co., Inc. in the non-fossil fuel value trading market. This means that CO2 emissions from electricity consumption of GRAND FRONT OSAKA (North Building) and GRAND FRONT OSAKA (Umekita Plaza・South Building) will be reduced to zero.

"Renewable energy" refers to a clean and CO2 emission-free energy system where all energy use is sourced from renewable energy sources such as solar, water, wind, geothermal, and biomass power, and does not use petroleum, coal or other fossil fuels.

Through this initiative, JEI will contribute to two of the UN Sustainable Development Goals: Goal 7 (Affordable and Clean Energy) and Goal 13 (Climate Action).

As a result of this initiative, the total number of properties that use CO2 emission-free electricity will increase to seven.

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1. Commencement Date of Supply
   September 1, 2022 (schedule)
2. JEI's Future Initiatives

JEI upholds a basic policy to work to reduce environmental burden and to cooperate/collaborate with stakeholders to realize a sustainable society. We will continue to advance initiatives for sustainability including environmental and energy-saving measures as well as improving the energy use efficiency of owned buildings.

Japan Excellent, Inc. Website:https://www.excellent-reit.co.jp/en/

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