Nippon Prologis REIT : Announces Prepayment of Bank Loans

September 14, 2020

FOR IMMEDIATE RELEASE

Nippon Prologis REIT Announces Prepayment of Bank Loans

Nippon Prologis REIT, Inc. ("NPR") today announced a prepayment of bank loans (the "Prepayment").

Details are outlined below:

1. Summary of the Prepayment

	(1)	Details of Bank Loans to be Prepaid
Category		Lenders	Borrowing	Interest Rate		Borrowing	Borrowing	Repayment	Repayment	Collateral
	Amount		Date	Method	Date	Method
	Sumitomo Mitsui		Base interest rate		Borrowing based on an		Paid in full	Unsecured
Short-	Banking Corporation	3,800	(JBA 3-month		February 5,	individual term loan agreement	February 4,
	upon	and non-
term	and MUFG Bank,	million yen	Japanese yen		2020	dated Feb. 3, 2020 with the	2021
	maturity	guaranteed
		Ltd.		TIBOR) +0.170%		lenders shown on the left
	(Note) For further details of the borrowing, please refer to the press release "Nippon Prologis REIT Announces Debt
		Financing and Completion of Interest Rate Swap Agreement" dated February 3, 2020.
	(2)	Prepayment Amount		: 3,800 million yen
	(3)	Prepayment Date		: September 30, 2020
	(4)	Source of Funds for Prepayment	: Refunds of consumption taxes reimbursement related to the
						acquisitions in the fiscal period ended May 31, 2020 (from
						December 1, 2019 to May 31, 2020) and cash on hand

2. Outstanding Debt Balance after the Prepayment of Bank Loans

					(Unit: Millions of yen)
			Before Issuance and	After Issuance and	Variance
			Prepayment	Prepayment
		Short-Term Loan	3,800	0	-3,800
		(Note 1)
		Long-Term Loan	234,200	234,200	0
		(Note 1)
	Total Loan Amount	248,000	234,200	-3,800
	Investment Corporation	26,000	26,000	0
	Bonds
	Total Interest-Bearing	264,000	260,200	-3,800
	Debt

(Note 1) Short-term loan refers to loans due within one year from the borrowing date, and long-term loan refers to loans due within a period longer than one year from the borrowing date.

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(Note 2) In addition to the above, NPR maintains a commitment line of 20,000 million yen with three banks; there is no outstanding loan balance under this commitment line.

3. Impact on Forecasts

There are no changes to NPR's forecasts of results for the fiscal period ending November 30, 2020 (from June 1, 2020 to November 30, 2020) and the fiscal period ending May 31, 2021 (from December 1, 2020 to May 31, 2021) which NPR announced on July 22, 2020 since the Prepayment is assumed on the forecast assumptions.

For more information about Nippon Prologis REIT, please visit: https://www.prologis-reit.co.jp/en/

Real Estate Investment Trust Securities Issuer: Nippon Prologis REIT, Inc. (Code 3283) Tokyo Building 21F, 2-7-3, Marunouchi, Chiyoda-ku, Tokyo

Executive Director: Masahiro Sakashita

Asset Management Company: Prologis REIT Management K.K.

Representative: CEO Masahiro Sakashita

Inquiries: CFO Atsushi Toda Tel: [phone]

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