Notice Concerning Borrowing of Funds(Including Green Loans)

This translation of the original Japanese notice is provided solely for information purposes. Should there be any discrepancy between this translation and the Japanese original, the latter shall prevail.

May 27, 2025

REIT Issuer: Daiwa Office Investment Corporation (Stock Code No.: 8976) Representative: Toshisuke Tanaka, Executive Director

Asset Manager: Daiwa Real Estate Asset Management Co. Ltd. Representative: Yoshiki Nishigaki, President and Representative Director

Inquiries to: Kentaro Azumi, General Manager, Acquisition and Asset Management Division (Tel: +81-3-6215-9649)

We hereby give notice that Daiwa Office Investment Corporation (the "Investment Corporation") decided today to borrow a total of 12,050 million yen (the "Borrowing").

1. Details for the Borrowings

   Lender	Loan Amount (million yen)	Interest Rate	Scheduled Borrowing Date	Borrowing / Repayment Method	Repayment Date
   Sumitomo Mitsui Banking Corporation	2,000	1 month Japanese Yen TIBOR + 0.425% (Note2)	2025/5/30	Unsecured Repayment in lump sum	2033/11/30
   	1,500	1 month Japanese Yen TIBOR + 0.350% (Note2)			2032/5/31
   Sumitomo Mitsui Trust Bank, Limited	1,000	1 month Japanese Yen TIBOR + 0.400% (Note2)			2033/5/31
   Development Bank of Japan Inc.	1,550	1.205% (Fixed Interest- Rate) (Note 3)			2031/5/30
   	1,500	1.017% (Fixed Interest- Rate) (Note 3)			2029/5/31
   	1,500	0.927% (Fixed Interest- Rate) (Note 3)			2028/5/31
   Mizuho Bank, Ltd.	1,000 (Note 1)	3 month Japanese Yen TIBOR + 0.300% (Note4)			2031/5/30
   Mizuho Trust & Banking Co., Ltd.	1,500	1 month Japanese Yen TIBOR + 0.300% (Note2)
   The Gunma Bank, Ltd.	500	3 month Japanese Yen TIBOR + 0.350% (Note4)			2032/5/31

   (Note 1) Borrowing of 1,000 million yen from Mizuho Bank, Ltd. will be raised as green loan based on the Green Finance Framework established by the Investment Corporation. The Green Finance Framework has obtained Green1 (F) of the "JCR Green Finance Framework Evaluation" by Japan Credit Rating Agency, Ltd. ("JCR"). For details of the Green Finance Framework established by the Investment Corporation and the "JCR Green Finance Framework Evaluation", please refer to the Investment Corporation's web site (https://www.daiwa-office.co.jp/en/esg/greenbond/index.html).

   (Note 2) Interest payments shall be made at the end of every month (If any such date is not a business day, the immediately following business day; and if such date falls within the next month, the preceding last business day). Interest rate is calculated based on 1 month Japanese Yen TIBOR which JBA announces two business days prior to the first day of the loan period.

   (Note 3) Interest payments shall be made at the end of February, May, August and November (If any such date is not a business day, the immediately following business day; and if such date falls within the next month, the preceding last business day).

   (Note 4) Interest payments shall be made at the end of February, May, August and November (If any such date is not a business day, the immediately following business day; and if such date falls within the next month, the preceding last business day). Interest rate is calculated based on 3 month Japanese Yen TIBOR which Japanese Bankers Association ("JBA") announces two business days prior to the first day of the loan period.

   The JPY TIBOR of the JBATIBOR Administration ("JBATA") is available on the JBATA website (https://www.jbatibor.or.jp/english/rate/).

2. Reason for the Borrowings

   The Borrowings will be provided for the repayment of the total of 12,050 million yen borrowing due on May 30, 2025. For the details of the borrowings, please refer to the press releases titled "Notice Concerning Borrowing of Funds" on March 24, 2016, May 23, 2017, August 28, 2017, November 27,

   2017, May 28, 2018 and May 26,2020.

3. Date of Signing Contract

   May 27, 2025

4. Status of Interest-Bearing Liabilities after the Borrowings

   Please refer to "Reference" for the status of interest-bearing liabilities after the Borrowings.

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

   There arises no change in the content of the investment risks described at "1. Fund Information, 1-1 Status of Fund, 1-1-3 Investment Risk" of the Yukashouken Houkokusyo filed as of February 19, 2025 with respect to the risks involved in repayment of the Borrowings.

   - End -

   [Reference]
   1. Outstanding Balance of Interest-Bearing Liabilities after the Borrowings

      Estimation as of May 30, 2025 (Unit: JPY million)

      	Before the Borrowings	After the Borrowings	Increase/ Decrease
      Short-term loans (loan period: 1 year or less)	32,750	20,700	-12,050
      Long-term loans (loan period: over 1 year) (Note)	177,700	189,750	+12,050
      Total loans	210,450	210,450	-
      Investment corporation bonds	9,000	9,000	-
      Total interest-bearing liabilities	219,450	219,450	-

      * The long-term loans to be repaid within 1 year are included in the short-term loans.

   2. Ratio of Floating-Rate and Fixed-Rate Interest-Bearing Liabilities after the Borrowings

Estimation as of May 30, 2025 (Unit: JPY million)

*Fixed-rate interest-bearing liabilities include liabilities changed from floating-rate to fixed-rate through swap transactions.

*Website URL of the Investment Corporation: https://www.daiwa-office.co.jp/en/