Notice Concerning Debt Finance

For Immediate Release

REIT Issuer

NTT UD REIT Investment Corporation 1-5-1 Otemachi, Chiyoda Ward, Tokyo

April 24, 2026

Executive Director Kazuhiro Kimura (Securities Code 8956)

Asset Management Company

NTT Urban Development Asset Management Corporation President & CEO Yasutake Horinouchi [Contact]

General Manager of Investor Relations Dept.,

J-REIT Management Div. Natsuko Matsuda TEL: +81-3-6262-9400

NTT UD REIT Investment Corporation ("NUD") hereby announces that it has decided today to borrow funds (hereinafter, the "Debt Finance") as described below.

1. Reason for the Debt Finance

   To fund the repayment of the loan of 3,000 million yen (Note) maturing on April 30, 2026.

   (Note) Reference: "Notice Concerning Debt Finance" dated May 17, 2018.

2. Details of the Debt Finance

   The Debt Finance involves the borrowing of two term loans (long-term loans totaling 3,000 million yen). The details are provided in the following table.

   Contract Number (Term loan)	Lender	Amount of Debt Finance (million yen)	Borrowing date	Repayment Date	Maturity (years)	Interest Rate, etc	Borrowing/ Repayment Method
   171	Development Bank of Japan Inc.	1,500	April 30, 2026	April 30, 2031	5.0	Fixed rate: not yet fixed (Note 1)	Unsecured/non-guaranteed and Lump-sum repayment upon maturity
   172	MUFG Bank, Ltd.	1,500	April 30, 2026	April 28, 2034	8.0	Floating rate: Base interest rate + 0.28% (Note 2)

   (Note 1) The first interest payment date shall be May 29, 2026, and subsequent interest payment dates shall be the final day of February, May, August and November each year and on the principal repayment date (or the preceding business day if the said date is not a business day).

   And there will be an announcement regarding the interest rate once such details have been determined (to be determined two business days prior to the borrowing date).

   (Note 2) The first interest payment date shall be May 29, 2026, and subsequent interest payment dates shall be the final day of each month and on the principal repayment date (or the preceding business day if the said date is not a business day).

   The base interest rate applied to the calculation period of the interest to be paid on the interest payment date will be the 1-month Japanese yen TIBOR on a day two business days prior to such interest payment date (provided, however, it is the borrowing date for the first period). In the event that the interest calculation period is more than 1-month or less than 1-month, the base rate corresponding to the interest calculation period shall be calculated using the method stipulated in the loan agreement.

   Details of the JBA Japanese Yen TIBOR can be checked on the JBA TIBOR Administration website(https://www.jbatibor.or.jp/english/).

3. Outstanding Interest-Bearing Liabilities after the Debt Finance

   (million yen)

   			Prior to the Debt Finance	After the Debt Finance	Variation
   		Short-term loans Long-term loans	8,000 132,050	8,000 132,050	- -
   	Total loans		140,050	140,050	-
   	Corporate bonds		7,200	7,200	-
   Total interest-bearing liabilities			147,250	147,250	-

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

There will be no change to the content of "Investment Risk / (2) Risk Related to Product Design and Related Parties / (iv) Risk Related to Loans and Investment Corporation Bonds" described in NUD's Securities Report filed on January 29, 2026, due to the Debt Finance.

* NUD's website is https://nud-reit.co.jp/en/

** Neither NUD nor NTT Urban Development Asset Management Corporation makes any assurance or warranty with respect to the completeness or accuracy of this English translation. For more complete and accurate information, please refer to the original announcement in Japanese.