Nippon Building Fund Incorporation : Notice Concerning Debt Financing

June 21, 2021

To All Concerned Parties

Name of REIT Issuer:

Nippon Building Fund, Inc.

Koichi Nishiyama, Executive Director

(TSE Code : 8951)

Contact:

Asset Management Company

Nippon Building Fund Management, Ltd.

Yoshiyuki Tanabe, President and CEO

Person to Contact:

Yukio Handa, General Manager

(TEL. [phone])

Notice Concerning Debt Financing

Nippon Building Fund, Inc. ("NBF") hereby provides notice that the following was decided as of June 21,

2021 concerning long-term borrowings:

Description

1. Long-term Borrowings

	Amount	Interest	Expected Date of	Methods of Borrowing,	Repayment Due
Lender	Repayment, Security and
Borrowed	Rate	Implementation	Date
	Guarantee etc.
MUFG Bank, Ltd.	¥2 billion	0.335%		Unsecured,	January 31, 2029
¥3 billion	0.400%		June 28, 2030
	June 30, 2021	unguaranteed, repayable
			in one lump sum on
Sumitomo Mitsui
¥1 billion	0.350%		repayment due date	June 29, 2029
Banking Corporation

2. Amount, Use and Expected Date of Expenditure of Proceeds

1. Amount to be borrowed Total ¥6 billion
2. Specific use of proceeds Refinancing of long-term borrowings
3. Expected date of expenditure June, 2021

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3. Status of Borrowings etc. following the financing

			(Unit: million yen)
	Before	After		Increase /
	Financing	Financing		Decrease
Short-term borrowings	0	0		0
Long-term borrowings	27,000	27,000		0
(Floating interest rate)
Long-term borrowings	466,500	466,500		0
(Fixed interest rate)
Bonds	57,000	57,000		0
Total	550,500	550,500		0

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

There is no change to the content of "Investment Risks" of the Securities Report submitted on March 30, 2021 with respect to the risks involved in repayment etc. of the current debt financing.

End

This English language notice is a translation of the Japanese language notice dated June 21, 2021 and was prepared solely for the convenience of, and reference by, overseas investors. Neither NBF nor Nippon Building Fund Management, Ltd. makes any warranties as to its accuracy or completeness.

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