Nippon Building Fund Incorporation : Notice Concerning Debt Financing（Green Loan）

March 14, 2022

To All Concerned Parties

Name of REIT Issuer:

Nippon Building Fund Inc.

Koichi Nishiyama, Executive Director

(TSE Code : 8951)

Contact:

Asset Management Company

Nippon Building Fund Management Ltd.

Yoshiyuki Tanabe, President and CEO

Person to Contact:

Yukio Handa, General Manager

(TEL. [phone])

Notice Concerning Debt Financing（Green Loan）

Nippon Building Fund Inc. ("NBF") hereby provides notice that the following was decided as of March 14,

2022 concerning a long-term borrowing（Green Loan）:

Description

1. Long-term Borrowing

	Amount	Interest	Expected Date of	Methods of Borrowing,	Repayment Due
Lender	Repayment, Security
Borrowed	Rate	Implementation	Date
	and Guarantee etc.
				Unsecured,
Nippon Life				unguaranteed,
Insurance	¥5 billion	0.425%	March 23, 2022	repayable in one lump	January 30,2032
Company				sum on repayment due
				date

This Long-term Borrowing will be executed as a green loan which is in line with the Green Finance Framework (Note 1) for which a second-party opinion obtained from Sustainalytics.

(Note 1) For details, please refer to the second-party opinion of Sustainalytics (URL below). https://mstar-sustops-cdn-mainwebsite-s3.s3.amazonaws.com/docs/default-source/spos/nippon-building-fund-inc.-green-finance-second-party-opinion.pdf?sfvrsn=1b7abdb9_3

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1. Amount, Use and Expected Date of Expenditure of Proceeds
2. 1. Amount to be borrowed ¥5 billion
   2. Specific use of proceeds
      Partially funding of acquisition of Iidabashi Grand Bloom (CASBEE Real Estate Evaluation Certification S Rank) as announced by the "Notice of Acquisition and Disposition of Assets (Acquisition of Nakanoshima Mitsui Building and one other property, and disposition of Toyo-cho Center Bldg. and two other properties)" dated January 6, 2022.
   3. Expected date of expenditure March, 2022
3. Status of Borrowings etc. following the financing

			(Unit: million yen)
	Before	After		Increase /
	Financing	Financing		Decrease
Short-term borrowings	0	0		0
Long-term borrowings	26,000	26,000		0
(Floating interest rate)
Long-term borrowings	457,500	462,500		5,000
(Fixed interest rate)
Bonds	57,000	57,000		0
Total	540,500	545,500		5,000

4. Other Matters Required for Investors to Appropriately Understand and Evaluate the Above Information

There is no change to the content of "Investment Risks" of the Securities Report submitted on September 29, 2021 with respect to the risks involved in repayment etc. of the current debt financing.

End

This English language notice is a translation of the Japanese language notice dated March 14, 2022 and was prepared solely for the convenience of, and reference by, overseas investors. Neither NBF nor Nippon Building Fund Management Ltd. makes any warranties as to its accuracy or completeness.

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