Kenedix Retail REIT Corporation announced that Kenedix Real Estate Fund Management Inc. (the "Asset Manager"), the asset manager for KRR, has decided to acquire the following properties ("the Acquisition") and subsequently, enter into contract of new leases. Outline of the acquisition: Property name: iias Kasugai (70% quasi-co-ownership interest). Location: Kasugai, Aichi.

(Anticipated) Acquisition price (Note 2): JPY 14,490 million. Property name: Coop Sapporo Shunko. Location: Asahikawa, Hokkaido.

(Anticipated) Acquisition price (Note 2): JPY 1,110 million. Contract date: October 6, 2022. (Anticipated) Acquisition date: October 7, 2022 (Coop Sapporo Shunko) and October 26, 2022 (iias Kasugai).

Reasons for the Acquisition and leasing: Have decided to acquire the two additional properties based on KRR's "Investment Targets and Policies," to diversify and enhance portfolio by investing primarily in shopping centers for daily needs, which KRR believes will ensure both the growth of and steady revenue-generation from portfolio. The (anticipated) acquisition price of each property is at or lower than its appraisal value and hence KRR believes it is fair and reasonable. Following the acquisitions, KRR's portfolio will grow to 70 properties worth a total of JPY 269.2 billion based on an (anticipated) acquisition prices.

In addition, KRR selects tenants based on an overall assessment of the set criteria, including the tenant's category, credit profile, sector, use, leasing terms and conditions and the probability of tenant turnover, as stated in the financial report dated June 23, 2022. KRR believes the tenants for each of the two anticipated properties satisfy these criteria. Details of the acquisition Overview of individual anticipated properties: The following tables provide an overview of each anticipated property.

Definitions of the terms used in the tables are as follows: "Type of specified asset" indicates the type of asset KRR will acquire. "Trustee" indicates the trustee or anticipated to be trustee for each of the acquired assets which is a trust beneficiary interest in real estate."Trust period" indicates the trust establishment date and the trust maturity date or anticipated to be in the trust agreement for the trust beneficiary interest in the property. "Location" indicates the residential address.

For properties without residential addresses, the building or land address on the registry is shown (only one address is shown for properties with multiple addresses). "Form of ownership" of "Land" or "Building" indicates the type of rights in the property owned by a trustee if KRR owns or anticipates owning the trust beneficiary interest or its quasi-co-ownership. "Land area" of "Land" is based on what is described in the registry and may not necessarily be identical to the actual area.

Moreover, "Land area" indicates the total Land area regardless of sectional ownership of buildings. "Zoning" of "Land" indicates the type of zoning as in Article 8-1-1 of the City Planning Act (Act No. 100 of 1968; as amended).

"Building coverage ratio" of "Land" indicates either the ratio of the building area to the land area as in Article 53-1 of the Building Standards Act (Act No. 201 of 1950; as amended) or the upper limit of the building coverage ratio designated in the City Planning Act in accordance with the zoning.