NIPPON REIT Investment : Notice Concerning Completion of Transfer of an Asset

February 28, 2022

For Immediate Release

Real Estate Investment Trust Securities Issuer:

NIPPON REIT Investment Corporation

1-18-1, Shimbashi, Minato-ku, Tokyo

Toshio Sugita

Executive Officer

(Securities Code: 3296)

Asset Management Company:

Sojitz REIT Advisors K.K.

Toshio Sugita

President & CEO

Contact: Takahiro Ishii

General Manager

Corporate Planning Department

Finance & Planning Division

(TEL: [phone])

Notice Concerning Completion of Transfer of an Asset

NIPPON REIT Investment Corporation ("NIPPON REIT") announces that it has today completed the transfer of the following asset as announced in the press release "Notice Concerning Transfer of an Asset," dated February 17, 2022.

1. Overview of transferred asset

Property	Real estate in trust		Transfer price	Transfer counterparty
Number	Location	(million yen)
(Property Name)	(Purchaser)
(Note 1)		(Note 2)
A-42	Sunworld Building	Osaka, Osaka	1,430	Not disclosed (Note 3)

(Note1) "Property No." is the number of each property in accordance with each asset type designated by NIPPON REIT. Capital letter of "A" represents office, and the same shall apply hereinafter.

(Note2) "Transfer price" stated as prices of trust beneficiary interests in real estate on sales agreements of trust beneficiary rights in real estate. Furthermore, the Transfer price excludes consumption taxes, local consumption taxes and various expenses required for the transfer and is rounded down to the nearest million yen.

(Note3) Not disclosed because consent has not been obtained from the purchaser. It is a domestic company, and does not fall under the category of interested persons under the Article 201 of the Act on Investment Trusts and Investment Corporations and Article 123 of the Order of Enforcement thereof, as well as of interested persons stipulated in the Asset Manager's internal rules, "Rules on Transactions by Interested Persons".

2. Other

Please refer to the "Notice Concerning Transfer of an Asset" dated February 17, 2022 for details.

*NIPPON REIT website:https://www.nippon-reit.com/en

This notice is the English translation of the original Japanese document and is provided solely for information purposes. There is no assurance as to the accuracy of the English translation. In the event of any discrepancy between this translation and the Japanese original, the latter shall prevail.

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