NTT UD REIT Investment Corporation announced the decision made at its board of directors' meeting held on August 28, 2023, to borrow funds (hereinafter, the "Debt Finance") as described below. Reason for the Debt Finance: To fund repayment of loan of JPY 5,000 million (Note) in a long-term loan maturing on August 31, 2023. Details of the Debt Finance: The Debt Finance involves the borrowing of one term loan (long-term loan).

Contract Number: Term loan 129. Expected Drawdown Date and Expected Disbursement Date: August 31, 2023. Lenders and Amount of Debt Finance: The Bank of Fukuoka Ltd.: JPY 2,000 million.

The 77 Bank Ltd.: JPY 1,000 million. The Bank of Kyoto Ltd.: JPY 1,000 million. The Hachijuni Bank Ltd.: JPY 1,000 million.

total: JPY 5,000 million. Borrowing Method: The loan agreement dated August 29, 2023 with the lender indicated above. Repayment Date: August 31, 2033.

Repayment Method: Lump-sum repayment upon maturity. Interest Rate: Fixed rate: not yet fixed (Note). Collateral /Guarantee: Unsecured and non-guaranteed.

Special Notes: The Debt Finance is a syndicated loan with Sumitomo Mitsui Trust Bank, Limited serving as the arranger and the agent.