Nomura Real Estate Master Fund : Notice Concerning Changes in Directors and Important Employees in Asset Management Company

[For Translation Purposes Only]

March 4, 2022

For Immediate Release

To Whom It May Concern

Nomura Real Estate Master Fund, Inc.

Securities Code: 3462

Shuhei Yoshida, Executive Director

Asset Management Company:

Nomura Real Estate Asset Management Co., Ltd.

Koki Miura, President & Chief Executive Officer

Inquiries:

Hiroshi Ishigooka

Executive Officer

Head of NMF Investment Management Group

TEL. [phone]

Notice Concerning Changes in Directors and

Important Employees in Asset Management Company

Nomura Real Estate Master Fund, Inc. ("Nomura Master Fund" or the "Fund") announced the resolution of Nomura Real Estate Asset Management Co., Ltd. ("NREAM"), a licensed investment trust management company retained by the Fund to provide asset management services, at NREAM's Board of Directors Meeting held today, regarding the appointment of new directors, which will be proposed at its Extraordinary Meeting of Shareholders as of April 1, 2022 and also regarding changes in title of directors and important employees.

The above changes in directors and important employees will be effective as of April 1, 2022.

1. Changes in Director

At the Board of Directors Meeting held today, NREAM has determined to propose agenda regarding the appointment of two new directors below at its Extraordinary Meeting of Shareholders as of April 1, 2022.

(1) Directors scheduled to assume office (as of April 1, 2022)

Name	Title (New)	Title (Former)
	Representative Director and
	Senior Managing Executive
	Officer, Chief Strategy Officer
	supervising Acquisitions
	Department and NMF
Masaomi Katayama	Investment Management Group	(New appointment)
and in charge of Investment
	Management Planning
	Department, Private Fund
	Management Department and
	NPR Investment Management
	Department
	Director and Managing Executive	Managing Executive Officer
Daisuke Kimura	Officer	in charge of International
	in charge of International	Business Planning Department
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	Business Planning Department	and Acquisitions Department
	and Acquisitions Department
(2) Other changes (as of April 1, 2022)
Name	Title (New)	Title (Former)
		Representative Director,
		Executive Vice President,
		Chief Strategy Officer
		supervising Acquisitions
		Department and NMF
	Representative Director,	Investment Management Group
Yuko Yoshida	in charge of Client Relations &
Executive Vice President
	Marketing Department,
		Investment Management Planning
		Department, Private Fund
		Management Department and
		NPR Investment Management
		Department
		Representative Director and
	Representative Director and	Senior Managing Executive
	Officer
	Senior Managing Executive
	supervising International Business
	Officer
	Planning Department and in
Fumiki Kondo	supervising International Business
charge of Corporate Planning
	Planning Department and in
	Department, Legal & Compliance
	charge of Client Relations &
	Department, Internal Audit
	Marketing Department
	Department and Finance &
		Accounting Department

2. Changes in Important Employees

At the Board of Directors Meeting held today, NREAM has determined the changes in the important employees mentioned below.

(1) Scheduled to assume office (as of April 1, 2022)

	Name		Title (New)	Title (Former)
			Managing Executive Officer
			in charge of Legal & Compliance
	Masayuki Hagiwara		Department, Internal Audit	(New appointment)
			Department and Finance &
			Accounting Department
(2) Other changes (as of April 1, 2022)
	Name		Title (New)	Title (Former)
			Management Executive Officer	Executive Officer
	Shinji Koizumi		General Manager of Corporate	General Manager of Corporate
			Planning Department	Planning Deportment

NREAM will report these changes to competent authorities pursuant to the Financial

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Instruments and Exchange Act, the Building Lots and Buildings Transaction Business Act and other applied laws and regulations.

* URL: https://www.nre-mf.co.jp/en/

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