LeTech Corporation announced that it resolved at its board meeting held April 27, 2021 that the Company and Starwood Capital Asia Limited enter into a certain pipeline agreement. Objectives of Agreement: The company's Real Estate Solution business, as its main business, purchases real properties based on property information from various sources, increases their asset value by applying appropriate renovations and conversions, and supplies such properties as are required by its customers. It is now resolved that the Company and Starwood Capital Asia Limited ("SCA"), an affiliate of Starwood Capital Group of the United States, a global private investment firm focused on real estate, enter into a pipeline agreement with respect to a supply of real properties. As a result of the Agreement, it is expected that the company's decision-making and business-scheme structuring around the purchase and sale of properties will be expedited, larger-scale properties will be continuously developed, large and stable purchasers will be secured, and the company's business base through a variety of structures will be enhanced. Outline of Pipeline Agreement: (i) With respect to any real property owned or developed by the company, prior to the provision of information thereof to a third party, such information will be provided to SCA and Starwood Capital Group, its affiliates, and investment funds managed and sponsored by Starwood Capital or any of its affiliates (collectively, "Starwood Capital") in order for Starwood Capital to consider the acquisition of such property, and the first refusal right will be granted to Starwood Capital. (ii) In the event the Company obtains information of an opportunity to acquire any property which satisfies Starwood Capital's investment criteria, the company will provide Starwood Capital with information thereof required by Starwood Capital to consider the acquisition of such property before providing the same to a third party. (iii) With the objectives of enhancing investment efficiencies, realizing investment strategies, securing sources of revenues during the current term and maximizing profits on sale, etc., the Company and SCA will jointly structure a scheme to acquire and manage existing or developed real properties other than those covered by the Agreement. The effective term of the Agreement will initially be three (3) years from 28th April, 2021 through 27th April, 2024, which may be renewed on the same terms and conditions through the parties' mutual consultation. The targeted value of real properties to be acquired by Starwood Capital from the Company based on real property information provided by the Company will be JPY 20 billion (excluding tax) in total.