Comforia Residential Reit, Inc.TSE: 3282

Notice Concerning Outlook Change of Issuer Rating

· Issued by Comforia Residential REIT, Inc.

April 21, 2022

For Immediate Release

Real Estate Investment Trust Securities Issuer:

Comforia Residential REIT, Inc

21-1 Dogenzaka 1-chome, Shibuya-ku,Tokyo

Takehiro Izawa Executive Director

(Code: 3282)

Asset Management Company:

TLC REIT Management Inc.

Masaoki Kanematsu

President & CEO

Inquiries:

Daisuke Kawauchi

General Manager of Strategy Department

Comforia Management Division

(TEL: +81-3-6455-3388)

Notice Concerning Outlook Change of Issuer Rating

Comforia Residential REIT, Inc ("Investment Corporation") announces that Japan Credit Rating Agency, Ltd. ("JCR") has revised its outlook of the long-term issuer rating today. Details are as shown below.

Summary of the Change (The change is underlined in below tables.)

Credit Rating Agency: JCR

Type of Credit Rating: Long-term issuer rating

From

To

Credit Rating

AA-

AA-

Outlook

Stable

Positive

Please refer to JCR's website for details concerning the rationale of the revision and rating definition.

URL for JCR's website:https://www.jcr.co.jp/en/

*Website of CRR:https://www.comforia-reit.co.jp/en/

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