Fukuoka REIT : Notice Concerning Submission of Registration for Investment Advisory and Agency Business and Related Change of Organization

Provisional translation only

January 6, 2023

Fukuoka REIT Corporation

1-2-25 Sumiyoshi, Hakata Ward, Fukuoka City

Zenji Koike

Executive Director

(Securities Code: 8968)

Asset Management Company:

Fukuoka Realty Co., Ltd.

1-2-25 Sumiyoshi, Hakata Ward, Fukuoka City

Zenji Koike

President and CEO

Inquiries:

Hiroyuki Ayabe

Executive Officer and General Manager

Finance Department

TEL: [phone]

Notice Concerning Submission of Registration for Investment Advisory and Agency Business

and Related Change of Organization

Fukuoka REIT Corporation (FRC) announces that Fukuoka Realty Co., Ltd. (FR), the asset management company to which FRC entrusts the management of its assets, today decided to register for investment advisory and agency business with the Financial Services Agency in accordance with the Financial Instruments and Exchange Act. In connection with this, a change in the organizational structure of FR has also been decided.

1. Aim of This Matter

Following its registration for investment advisory and agency business, FR, in addition to the asset management it performs for FRC, will start an investment advisory business. FR will provide investment advisory services to a private fund (the "Private Fund"), which a part of sponsors of FR will establish to invest in special purpose companies that will conduct silent partnership investment.

The expansion of opportunities for information acquisition and improved expertise in asset management brought on by FR's entry into the investment advisory business are expected to contribute to improvement of unitholder value for FRC.

2. Registration to Start Investment Advisory and Agency Business

FR today registered for investment advisory and agency business with the Financial Services Agency in order to start its investment advisory business.

3. Change in Organizational Structure

Upon the start of its investment advisory business, FR will make the following change in its organizational structure to prevent conflicts of interest from arising between FRC and other clients of FR in order to improve the efficiency of its operations.

1. Details of the change
   Establish the Private Fund Management Office as the department responsible for investment advisory operations for the Private Fund
2. Date of change
   February 1, 2023 (scheduled)
3. Overview of organization chart
   Please refer to the attached sheet for the organization chart of FR before and after the change.
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4. Preventing Competition in Property Acquisition

Because there are currently no plans to acquire additional properties other than the properties owned at the time of FR starting its investment advisory business under the Private Fund or to have FR be entrusted with investment advisory business for other private funds, there will be no impact on property acquisition opportunities for FRC. In the future, if there is a possibility that FR will undertake new investment advisory services or may acquire properties, FR will conduct such services after making necessary changes to its organizational structure and internal regulations and implementing administrative procedures in order to prevent conflicts of interest from arising between competitors and FRC.

1. Amendment of Statement of Operational Procedures
2. 1. Main objectives
      In connection with the management of the Private Fund and registration for investment advisory and agency business, as well as the change in organizational structure of FR, amendments will be made to the statement of operational procedures with the aim of adding or changing related matters, and the Financial Services Agency will be notified of these amendments.
   2. Date of notification February 1, 2023 (scheduled)
3. Other

Necessary notification procedures shall be taken in accordance with the Financial Instruments and Exchange Act, the Building Lots and Buildings Transaction Business Act, and other applicable laws and regulations concerning this matter.

7. Future Outlook

There will be no impact on the results of FRC.

*FRC's website ishttps://www.fukuoka-reit.jp/en/index.htm

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【Attachment】

Organization Chart of Fukuoka Realty Co., Ltd.

Compliance Assessment

Committee

Investment Committee

Risk Management

Committee

Shareholders General

Meeting

Board of Directors

President and CEO

Corporate Auditor

Executive Committee

Sustainability Promotion

Committee

Compliance Department

Real Estate Management

Department

Investment Department

Finance Department

Planning Department

Compliance Assessment

Committee

Investment Committee

Risk Management

Committee

Shareholders General

Meeting

Board of Directors

President and CEO

Corporate Auditor

Executive Committee

Sustainability Promotion

Committee

Compliance Department

Real Estate Management

Department

Investment Department

Finance Department

Planning Department

Private Fund Management

Office

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