Nippon Building Fund Inc. ("NBF") hereby provides notice of its decision on August 29, 2022 to implement refinancing of a short-term borrowing: 1. Short-term Borrowing Lender: Mizuho Bank Ltd. Amount Borrowed: ¥8 billion. Interest Rate: 0.110%. Expected Date of Implementation: August 31,2022.

Methods of Borrowing, Repayment, Security and Guarantee etc.: Unsecured, unguaranteed, repayable in one lump sum on repayment due date. Repayment Due Date: September 30,2022.