Notice Concerning Change of Director at the Asset Management Company

March 31, 2022

For Immediate Release

Real Estate Investment Trust Securities Issuer:

NIPPON REIT Investment Corporation

1-18-1 Shimbashi, Minato-ku, Tokyo

Hisao Ishikawa

Executive Officer

(Securities Code: 3296)

Asset Management Company:

Sojitz REIT Advisors K.K.

Toshio Sugita

President, Director & CEOContact:

Takahiro Ishii

General Manager

Corporate Planning Department

Finance & Planning Division

(TEL: +81-3-5501-0080)

Notice Concerning Change of Director at the Asset Management Company

NIPPON REIT Investment Corporation ("NIPPON REIT") announces that Sojitz REIT Advisors K.K.("SRA"), which is the asset management company of NIPPON REIT, resolved at its Board of Directors Meeting held today, to submit the change of its Director as follows, to SRA's Shareholder Meeting, and the change was approved at the Shareholder Meeting held on the same day.

Change of Director (April 1, 2022)

For detail of Career summary of the new director, please refer to the attachment.

Furthermore, required procedures including notification etc. of the above change will be taken in accordance with the provisions of the Financial Instruments and Exchange Act and the Building Lots and Buildings Transactions business Act and other applicable laws and regulations.

* NIPPON REIT Investment Corporation website:https://www.nippon-reit.com/en/

This notice is the English translation of the original Japanese document and is provided solely for information purposes. There is no assurance as to the accuracy of the English translation. In the event of any discrepancy between this translation and the Japanese original, the latter shall prevail.

Career Summary of the New Director