Industrial & Infrastructure Fund Investment : Notice Concerning Debt Financing (Refinancing)

July 27, 2022

To all concerned parties:

Investment Corporation

Industrial & Infrastructure Fund Investment Corporation

(Tokyo Stock Exchange Company Code: 3249）

Representative:	Kumi Honda, Executive Director
	URL: https://www.iif-reit.com/english/
Asset Management Company
KJR Management
Representative:	Naoki Suzuki,
	President & Representative Director
Inquiries:	Hidehiko Ueda,
	Head of Industrial Division

TEL: [phone]

Notice Concerning Debt Financing (Refinancing)

Industrial & Infrastructure Fund Investment Corporation ("IIF") announced today its decision with respect to debt financing related to refinancing, as outlined below.

1. Overview

To reduce future interest costs, lengthen remaining borrowing periods and diversify repayment dates, IIF has decided to refinance the existing long-term debt, which is due for repayment on August 5, 2022.

1. Overview of the new debt financing

Borrowing

Amount

Fixed /

Interest Rate

Contract

Scheduled

Remarks,

Lender

Execution

Borrowing

MaturityDate

Repayment

Period

(million yen)

Float

(Note 1)

Date

Date

Method

Unsecured

10.0

Tobe determined

THE NISHI-NIPPON

July27,

August5,

July30,

and

500

Fixed

unguaranteed,

years

(Note 2)

CITY BANK, LTD.

2022

2022

2032

lump sum

repayment

(Note 1) Interest payment will start on September 30, 2022, followed by the last days of March, June, September, and December until the maturity date (if the corresponding date falls on a non-business day, the immediately preceding business day is adopted), and the maturity date.

(Note 2) The interest rate will be determined on or before the scheduled borrowing date pursuant to the loan agreement entered on July 27, 2022. The announcement of the interest rate will be made at the time of determination.

(ii) Description of existing loan subject to repayment

Borrowing

Amount

Fixed /

Contract

Borrowing

Remarks,

Interest Rate

Lender

Execution

MaturityDate

Repayment

Period

(million yen)

Float

Date

Date

Method

Unsecured

8.5

1.03150%

THE NISHI-NIPPON

January15,

February6,

August5,

and

500

Fixed

unguaranteed,

years

(Note)

CITY BANK, LTD.

2014

2014

2022

lump sum

repayment

(Note) Loan agreement provided for a floating interest rate. IIF has executed interest rate swap agreement to fix the interest rate on February 4, 2014.

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(iii) IIF's debt after the refinancing (after August 5, 2022)

					(million yen)
		Before the refinancing	After the refinancing		Change
	Short-term Borrowings	3,400	3,400	0
	Long-term Borrowings (Note)	184,383	184,383	0
	187,783	187,783	0
Total Borrowings
Investment Corporation Bonds	15,000	15,000	0
(Social Bonds)	(5,000)	(5,000)	(0)
	202,783	202,783		0
Interest-bearing Debt in Total

(Note) The amount of long-term borrowings includes the current portion of long-term borrowings.

2. Future outlook of IIF

The impact of the refinancing on IIF's operating status for the period ending July 2022 (the 30th fiscal period: February 1, 2022 to July 31, 2022) and the period ending January 2023 (the 31st fiscal period: August 1, 2022 to January 31, 2023) is not material and the forecasts of operating status for the same period remain unchanged.

3. Others

For the risks associated with the repayment, etc., please refer to "Investment Risk" stated in the 29th fiscal period Securities Report filed on April 27, 2022.

<_reference3a_ maturity="" ladder="" after="" the="" refinancing="">

(JPY in Million)

Investment corpora�on bonds		Long term borrowings		Short term borrowings		New long term borrowings

25,000
20,000
15,000
10,000	500	3,400
5,000	4,500		11,000	8,000	10,500				8,200	11,200	11,000	11,200	11,759	11,074	11,900	12,000
	10,100	10,150	10,100	9,950		10,000		3,800	500
5,000
0			2,000					3,000										2,700	3,000	2,750		2,000	2,000
31st	32nd	33rd	34th	35th	36th	37th	38th	39th	40th	41st	42nd	43rd		44th	45th	46th	47th	48th	49th	50th	51st	52nd	59th
	Jan.	Jul.	Jan.	Jul.	Jan.	Jul.	Jan.	Jul.	Jan.	Jul.	Jan.	Jul.	Jan.		Jul.	Jan.	Jul.	Jan.	Jul.	Jan.	Jul.	Jan.	Jul.	Jan.
	2023	2024		2025	2026		2027	2028		2029	2030	2031		2032			2033

About IIF: Industrial and Infrastructure Fund Investment Corporation ("IIF") is the first J-REIT focused on acquiring and operating both industrial and infrastructure properties in Japan－properties that play a vital role in the Japanese economy, and for which IIF expects to see stable demand in the mid to long term. With respect to industrial properties, IIF intends to invest in a diverse portfolio of properties, including manufacturing and research and development facilities.

Please refer to our website athttps://www.iif-reit.com/english/

Contacts: For the further information relating to this press release as well as IIF and its Asset Manager, please feel free to contact Mr. Hidehiko

Ueda (Telephone Number: 81-3-5293-7090), Head of Industrial Division at KJR Management, asset manager for Industrial & Infrastructure Fund Investment Corporation.

Investor Relations: Telephone Number: 81-3-5293-7091E-mail:[e-mail]

This English language release is for informational purposes only, and the Japanese language release should be referred to as the original.

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