TOKYU REIT, Inc. announced its decision to undertake debt financing (Green Loan) and repayment. Brief details are as follows. Rationale: The long-term debt to be repaid fulfills the criteria of the green finance framework formulated in July 2022 as it constitutes funds for refinancing the acquisition funds for Lexington Aoyama which is a specific asset fulfilling the green eligibility criteria and the long-term debt will be refinanced with green loan.

The entire amount of the debt financing will Green Loan be allocated to funds for repayment of the long-term debt due for repayment on October 10, 2023. Details of Debt Financing: Classification: Long-Term Debt (Green Loan); Lender: Nippon Life Insurance Company; Debt Financing Amount: ¥1,500 million; Interest Rate: 1.47065% (Fixed interest rate); Repayment Method: Lump-sum repayment on maturity; Drawdown Date: October 10, 2023; Maturity Date (Note): October 10, 2031; Period: 8 years; Collateral: Unsecured, unguaranteed; Financing Fee: None. Repayment of Debt: Classification: Long-Term Debt; Lender: Nippon Life Insurance Company; Debt Financing Amount: ¥1,500 million; Interest Rate: 0.60% (Fixed interest rate); Repayment Method: Lump-sum repayment on maturity; Drawdown Date: April 10, 2018; Repayment Date: October 10, 2023; Maturity Date (Note): October 10, 2023; Repayment Source: Debt finance mentioned above 1. Debt Financing; Period: 5.5 years; Collateral: Unsecured, unguaranteed; Financing Fee: None.

Total Debt After Additional Debt Financing and Repayment: Total Debt Financing: Debt Balance Prior to Additional Debt Financing and Repayment: ¥93,500 millions; Debt Balance after Additional Debt Financing and Repayment: ¥93,500 millions.