Notice Concerning Organizational Restructuring and Personnel Change of the Asset Management Company

March 26, 2026

For Immediate Release

‌Notice Concerning Organizational Restructuring and Personnel Change of the Asset Management Company‌

NTT Urban Development Asset Management Corporation ("UDAM") the asset management company of NTT UD REIT Investment Corporation ("NUD") hereby announces that the following decisions regarding the organizational restructuring effective April 1, 2026 (hereinafter, the "Organizational Restructuring") and personnel changes.

1. ‌Regarding the Organizational Restructuring

   1. Reasons for Restructuring

      The environment surrounding the real estate market, including the REIT market, has undergone significant changes, necessitating a more sophisticated and specialized management structure. Therefore, the organizational structure is being revised with the following three objectives:

      ⒸClarifying functional divisions and business responsibilities through the introduction of a divisional system

      ⒸStrengthening technical support systems to optimize building operation costs

      ③Preventing conflicts of interest and enhancing information security through information isolation between business divisions and strict compliance enforcement

   2. Details of the Restructuring

      The organizational chart following the Organizational Restructuring is as shown in the Attachment.

   3. Scheduled date of the Restructuring April 1, 2026

2. ‌List of Officers Following the Organizational Restructuring (Effective April 1, 2026)

   President & CEO	Yasutake Horinouchi
   Director, Head of J-REIT Management Div., General Manager of Asset Management Dept.	Kazuhiro Kimura
   Director, General Manager of Finance Dept., J-REIT Management Div. overseeing Investor Relations Dept., J-REIT Management Div.	Tatsuya Takahashi
   Director, Head of Private REIT Management Div., General Manager of Asset Management Dept.	Yasunori Onodera
   Director, General Manager of Architectural and Environmental Engineering Dept.	Keiji Saito

   Director, General Manager of Corporate Administration Dept., General Manager of General Affairs and Human Resources Dept., overseeing Fund Management Dept.	Hiroshi Ogasawara
   Director (part-time)	Yusuke Baba
   Corporate Auditor (part-time)	Junko Ito

3. ‌Resigning Director (Resignation Date: March 31, 2026)

   Director & CFO, General Manager of Finance Department

   Takeshi Iwata

4. ‌Key Personnel Appointments (Effective April 1, 2026)

Furthermore, necessary filings and other arrangements will be made regarding these changes pursuant to the provisions of the Financial Instruments and Exchange Act, Real Estate Brokerage Act and other relevant laws and regulations.

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

** Neither NUD nor UDAM 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.

‌[Attachment] The Organizational Chart following the Organizational Restructuring (planned)