Kenedix : Joint Investment in a Singapore Property

February 21, 2022

To whom it may concern

Sumitomo Mitsui Finance and Leasing Company, Limited

SMFL MIRAI Partners Company, Limited

Kenedix, Inc.

ARA Asset Management Limited

Joint Investment in a Singapore Property

The three companies, 1) SMFL MIRAI Partners Company, Limited (President: Tatsurou Terada; hereafter, "SMFL MIRAI Partners"), a consolidated subsidiary of Sumitomo Mitsui Finance and Leasing Company, Limited (President: Masaki Tachibana; hereafter, "SMFL"), and 2) Kenedix, Inc. (President & CEO: Taisuke Miyajima; hereafter, "Kenedix"), a consolidated subsidiary of SMFL, and one of its private funds under 3) ARA Asset Management Limited (CEO: Moses K. Song; hereafter, "ARA"), an ESR Group Company, have made a joint investment in a property ("Property") located in Singapore.

The Property, Capital Square, is a mixed-use prime office located in Raffles Place, the Central Business District of Singapore with convenient access from major subway stations. It boasts a high quality, diversified tenant-mix with major financial institutions and IT companies with global operations as key tenants. The total investment is SGD 297 million.

Kenedix became a consolidated subsidiary of SMFL MIRAI Partners in January 2021. Capitalizing on this opportunity, the three companies, SMFL MIRAI Partners, Kenedix and its joint shareholder, ARA, are together engaging in investment and financing businesses in the Asian region. Singapore has a predominance in the Asian region as well as a promising prospective for a dynamic real estate market on the back of a strong economic recovery. This joint investment is the first transaction under the aforementioned Partnership Strategy, where Kenedix's local subsidiary leverages its well-established asset management platform in Asia to take charge of the fund management operations and, ARA which enjoys a great track record in the Singapore real estate market, will engage in asset management work.

SMFL set up the Asia Strategic Finance department in October 2021 to enhance its investment and financing capabilities in the Asian region and will cultivate/promote investment and financing businesses together with SMFL MIRAI Partners. SMFL, SMFL MIRAI Partners, Kenedix, and ARA will leverage its combined network, expertise, and strengths to realise

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synergies across the tripartite collaboration to develop the investment and financing businesses as well as create new investment opportunities.

Name	Capital Square
Address	21/23/25 Church Street, Singapore
GFA/NLA	454,823sqf (42,255 ㎡) / 394,756sqf (36,674	㎡)
No. of Floors	16 (office) / 3 (shophouse)
Year in built	1999（refurbished in 2013）
Tenure	Leasehold (73 years remaining)

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Company Name	SMFL MIRAI Partners Company, Limited
HQ location	1-3-2, Maruniuchi, Chiyoda-ku, Tokyo
Representative	Tatsurou Terada, President
Established	2018
Business	Real estate related businesses, environmental energy related
	businesses, other financial services
Company Name	Kenedix, Inc.
HQ location	2-1-6,Uchisaiwai-cho,Chiyoda-ku, Tokyo
Representative	Taisuke Miyajima, President & CEO
Established	1995
Business	Asset management, property management/operation and real estate
	investments
Company Name	ARA Asset Management Limited, an ESR Group Company
HQ location	5 TEMASEK BOULEVARD #12-01, SUNTEC TOWER FIVE, SINGAPORE
Representative	Moses K. Song, Chief Executive Officer
Established	2002
Business	Real estate asset management

【For information on this deal, please contact the below】
SMFL	Corporate	Yamamoto	TEL:
SMFL MIRAI Partners	Communications Dept.	Morishita	[phone]
Real Estate Business	TEL:
Kenedix	Planning Dept.	Negishi	[phone]
Public Relations	TEL:
ARA Asset Management Limited	& Sustainability Dept.	LOW	[phone]
Group Corporate	TEL:
	Development	Chiew	[phone]
	& Investor Relations.	Leng

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