One Reit. Inc.TSE: 3290

Supplement to the Third Public Offering and Assets to Be Acquired

· Issued by One Reit. Inc.

(Securities Code：3290)

Supplement to the Third Public Offering and Assets to Be Acquired

September 8, 2021 (Wednesday)

Asset Management Company: Mizuho REIT Management Co., Ltd.

Disclaimer

  • The contents of this document are provided solely for the purpose of providing information on the purpose of each transaction, significance, effect, etc. announced in "Notice concerning Issuance of New Investment Units and Secondary Offering of Investment Units", "Notice concerning Acquisition and Leasing of Assets (six Properties)" and "Notice concerning Borrowing of Funds" announced by One REIT, Inc. (hereinafter "One REIT") on September 8, 2021, and is not intended for the purpose of soliciting investment in, or as a recommendation to purchase or sell, any specific products. In addition, any information on One REIT's website (hereinafter the "Website") which contains this document and any information provided in the link destination of the Website or the documents on it are also not intended for the purpose of soliciting investment in, or as a recommendation to purchase or sell, any specific products.
  • The information in this document and Website are not intended to constitute disclosure documents, investment reports or any other information required under the Financial Instruments and Exchange Act or Act on Investment Trusts and Investment Corporations, or any rules of the Tokyo Stock Exchange.
  • When making investments, we advise investors to do so at their own responsibility and judgement after reviewing the prospectus for the issuance of new investment units and secondary offering of investment units as well as amendments thereto prepared by One REIT.
  • Of the information (including opinions) in this document and Website, those other than the information on the past and current facts fall under the category of forward-looking statements. Such forward-looking statements are based on the information available on the preparation date of this document or the date when they started to be posted on the Website at One REIT and Mizuho REIT Management Co., Ltd. (hereinafter the "Asset Management Company"). They are descriptions based on certain assumptions and premises formulated based on the current or future management strategy of One REIT and multiple premises regarding various internal and external environment such as finance, economy, market, politics and international affairs surrounding One REIT's businesses. There is no guarantee that the above presumptions and assumptions are correct. Therefore, please note that such forward-looking statements include factors of existing or unknown risks and uncertainties that may cause a significant difference between the performance and actual results of One REIT and the future forecasts that are explicitly or implicitly stated. This material does not guarantee future performance, management results, fluctuation, etc., and the actual results may differ significantly due to various factors.
  • Besides descriptions of One REIT, this document and the Website contain charts, data, etc. prepared by the Asset Management Company based on the information provided by third parties to One REIT and the Asset Management Company or the information announced by third parties as well as analysis, judgments and other opinions of One REIT and the Asset Management Company on these (materials). In addition, there may be different opinions regarding such matter, and One REIT or the Asset Management Company may change such opinions in the future.
  • Every possible precaution is taken for the information provided among the information in this document and Website, but One REIT does not guarantee the accuracy and completeness of such information. Readers are cautioned that such may be changed or deleted without prior notice.
  • Duplication or reproduction of the content described in this document without the prior consent of One REIT or the Asset Management Company is prohibited.
  • The property photos in this document include some photos of the assets owned by One REIT as of September 8, 2021, and the assets to be acquired. However, One REIT may sell the owned assets and the assets to be acquired to third parties or dispose them through other methods and will not necessarily continue to own them. Furthermore, One REIT cannot necessarily acquire the assets to be acquired.

Asset Management Company: Mizuho REIT Management Co., Ltd.

License No. 342, Director-General, Kanto Finance Bureau (Financial Instruments and Exchange Act),

Financial Instruments Business Operator; Member, The Investment Trusts Association, Japan

One REIT, Inc. Supplement to the Third Public Offering and Assets to be Acquired

1

Overview of One REIT

Features of One REIT

  • Office J-REIT having Mizuho Trust & Banking Co., Ltd., which has strengths in property information gathering skills and finance arrangement skills, as the sponsor

Sponsor Support System

Sponsor

Supporting Company

Mizuho Real Estate

Mizuho Realty One

Management Co., Ltd.

Co., Ltd.

External growth support

Internal growth support

Financial strategy support

Other support

(Asset Management Company)

Mizuho REIT Management Co., Ltd.

Portfolio Building Policy

  • Investment Ratio by Property Type

We will build a portfolio with the intention to improve income stability by considering middle-sized office buildings (Note 1) as the core investment target and also incorporating office buildings other than middle-sized office buildings.

Assets for other uses 10% or less

Investment

Ratio (Note2)

by

Property type

Office buildings 90% or more

  • Investment ratio by region

We intend to build a portfolio considering regional diversification by including ordinance-designated cities or their equivalent (Note 4) where certain rental demand is expected in the investment target while focusing on investments in the Tokyo metropolitan area (Note 3) where stability is expected.

Ordinance-designated cities, etc.

30% or less

Investment

Ratio (Note2)

by Region

Tokyo metropolitan area

70% or more

One REIT, Inc. Supplement to the Third Public Offering and Assets to be Acquired

3

Features of One REIT

  • Aim for the improvement of unitholder value through the promotion of external growth and internal growth in accordance with the real estate market condition

1. Portfolio Focusing on Middle-Sized Office Buildings as the Core Investment Target

middle-sized office buildings>

  • A large number of middle-sized office buildings are located in the 23 wards of Tokyo, and One REIT believes that such buildings have a relatively large market scale and hold abundant acquisition opportunity and also are expected to contribute to the external growth of One REIT.
  • One REIT is maintaining a stable occupancy rate over the medium to long term, and is able to maximally utilize the knowledge and experience cultivated by the Asset Management Company until now.

2. Pursuit of Essential Values of Real Estate - "Location" and "Building Specification" -

  • One REIT recognizes that most of the essential values of real estate are

dependent on "location" and "building specification (functionality, design, etc.)

(Note 1) "

  • One REIT will invest in carefully selected properties with high building specifications situated in locations with high tenant needs and pursue the maintenance and improvement of building specifications over the long term with an aim to create buildings chosen by tenants by taking into consideration "safety," "comfort" and "convenience" from the viewpoint of tenants

3. Utilization of Abundant and High-Quality Property Information Obtained by Utilizing the Strength of Sponsors

  • One REIT utilizes Mizuho Trust & Banking's wide customer base, information network, and unique accessibility to real estate information as well as MONE Group's (Note 3) abundant experience on real estate investment and management, high level of expertise, and unique network.
  • One REIT aims to form a high-quality portfolio by widely obtaining high- quality information at an early stage from the viewpoint of properties and accuracy of sales and connecting such to the acquisition of properties against the backdrop of an ability to respond to various needs for utilization and sales of real estate.

Strength of Mizuho Trust and Banking

:

Wide customer base

Accessibility to real estate information

Strength of MONE Group

:

A variety of

High level of

Unique

experience

expertise

network

Pursuing

Building

Facility

"Safety,"

Location

Management

"Comfort"

Spec

(Note 2)

and

Setting core

"Convenience"

Determination of properties

from the viewpoint of

investment

whose value can be enhanced

tenants

target areas

4. Construction of Stable Financial Base, Strict Internal Control, and Risk Management System under Financial Sponsors

  • Building a stable financial base with a lender formation (composition of lending financial institutions) centering on Mizuho Trust & Banking, the sponsor, and Mizuho Bank, Ltd.
  • Managing conflict-of-interest transactions, information, etc. based on strict rules utilizing know-how at financial institutions.

One REIT, Inc. Supplement to the Third Public Offering and Assets to be Acquired

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