One REIT : Notice concerning Issuance of Investment Corporation Bonds (Green Bonds)

Translation Purposes Only

January 21, 2022

To All Concerned Parties

Name of REIT Issuer

One REIT, Inc.

2-1-3 Nihonbashi, Chuo-ku, Tokyo, Japan

Hirofumi Nabeyama, Executive Director

(TSE Code: 3290)

Contact:

Asset Management Company

Mizuho REIT Management Co., Ltd.

Hirofumi Nabeyama, Chief Executive Officer

Contact Person: Takeshi Akimoto,

Managing Director Finance & Administration Division

TEL: [phone]

Notice concerning Issuance of Investment Corporation Bonds (Green Bonds)

One REIT, Inc. (hereinafter referred to as "One REIT") announced today it decided on the issuance of investment corporation bonds (Green Bonds) (hereinafter referred to as the "Issuance") as follows.

1. Overview of Investment Corporation Bonds

(1)	Name:	One REIT, Inc. 5th Unsecured Investment Corporation Bonds (with pari passu
		conditions among specified investment corporation bonds) (Green Bonds)
		(hereinafter referred to as the "Green Bonds")
(2)	Total issue amount:	3,000 million yen
(3)	Form of bond	The Bonds Transfer Act is applicable to the Green Bonds, thus investment
	certificate:	corporation bond certificates will not be issued.
(4)	Paid-in amount:	100 yen per 100 yen of each investment corporation bond
(5)	Redemption amount:	100 yen per 100 yen of each investment corporation bond
(6)	Interest rate:	0.780% per annum
(7)	Denomination price:	100 million yen
(8)	Offering method:	Public offering
(9)	Offering period:	January 21, 2022 (Friday)
(10)	Payment date:	January 27, 2022 (Thursday)
(11)	Security and guarantee:	The Green Bonds will be issued on an unsecured and unguaranteed basis with
		no specific assets reserved for the Green Bonds.
(12)	Redemption method	The total amount of investment corporation bonds will be redeemed on
	and date:	January 27, 2032 (Tuesday)
		The Green Bonds may be repurchased and cancelled at any time after the
		payment date, unless otherwise specified by the depository.
		If the maturity date of the Green Bonds falls on the bank holiday, the payment
		will be moved to the immediately preceding bank business day.
(13)	Interest payment date:	January 27 and July 27 of each year
		(The immediately preceding bank business day if such day is a bank
		holiday.)
(14)	Rating:	A (Japan Credit Rating Agency, Ltd.)
(15)	Financial covenant:	Negative pledge clause is attached
(16)	Fiscal agent, issuing	Mizuho Bank, Ltd.
	agent, and paying agent:
(17)	Underwriter:	Mizuho Securities Co., Ltd.
		Daiwa Securities Co., Ltd.
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2. Reason for the Issuance

One REIT has decided on the Issuance with an aim to, along with promoting sustainability initiatives, strengthen the funding platform by expanding the ESG investor base through procurement of funds using the Green Bonds.

The Green Bonds will be issued as green bonds based on the green finance framework announced in "Notice concerning Submission of Revised Shelf Registration Statement for Issuance of Green Bonds" released on December 23, 2021, and One REIT has been assigned "Green 1 (F)," the highest evaluation grade in the "JCR Green Finance Framework Evaluation" by Japan Credit Rating Agency, Ltd. as a third-party evaluation of the green finance framework. For details, please refer to the aforementioned press release.

3. Amount, Use, and Scheduled Date of Expenditure of Funds to Be Procured

(1) Amount of funds to be procured (estimated net proceeds)

2,970 million yen in total

(2) Specific use and scheduled date of expenditure of funds to be procured

As of February 28, 2022, the entire amount of the above estimated net proceeds will be allocated to as part of the funds for prepayment of existing borrowings (hereinafter referred to as the "Prepayment" (Note 1)) scheduled to be made on September 7, 2022, procured for the purpose of allocating for the acquisition funds of Kuramochi Building Daiichi, which is specified assets that meet the eligibility criteria (Note 2) stipulated in the green finance flamework.

(Note 1) For details, please refer to "Notice concerning Prepayment of Existing Borrowings (Finalization of Repayment Details)" announced today.

(Note 2) For details, please refer to "Notice concerning Submission of Revised Shelf Registration Statement for Issuance of Green Bonds" announced on December 23, 2021.

1. Investors who declared investment in the Bond
   Listed below in alphabetical order are investors to date who have agreed to disclose the real name of their intention of investment in the Green Bonds.
   ・THE ALUPUSCHUO SHINKIN BANK ・THE AWAJI SHINKIN BANK
   ・THE CHOSHI SHINKIN BANK ・THE FUJI SHINKIN BANK
   ・The Hiroshima Midori shinkin bank ・The Kita Osaka Shinkin Bank
   ・THE NUMAZU SHINKIN BANK
   ・SHIZUOKA YAIZU SHINKIN BANK
2. Outlook of Financial Results and Status of Interest-Bearing Debt
   For the outlook of financial results and status of interest-bearing debt after the Issuance and Prepayment, please refer to "Notice concerning Prepayment of Existing Borrowings (Finalization of Repayment Details)" announced today.
3. Other Necessary Information for Investors to Better Understand and Make Informed Decisions Based on the Above Information
   Concerning the risks pertaining to the Issuance, there will be no change to the content of "Chapter 1: Fund
   Information - Part 1: Fund Status 3. Investment Risks" of the securities report filed on November 29, 2021.
   One REIT corporate website: https://one-reit.com/en/

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