One REIT : Notice concerning Tenant Relocation (New Lease)

Translation Purposes Only

May 20, 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,

Executive Officer Finance & Administration Division

TEL: [phone]

Notice concerning Tenant Relocation (New Lease)

One REIT, Inc. (hereinafter referred to as "One REIT") announced that tenant relocation (new lease) is scheduled in Tokyo Parkside Building (hereinafter referred to as the "Property"), which is one of the properties in its portfolio, as follows. (Hereafter, the tenant which has concluded the lease agreement is referred to as the "Tenant.")

1. Background for Commencement of Lease

As a result of leasing activities that take advantage of the features of the Property, One REIT and the Tenant have concluded the lease agreement described in "2. Overview of Lease Agreement to be Commenced" below today. The Tenant conforms to the tenant selection standard described in the "Report on the Management Structure and System of the Issuer of Real Estate Investment Trust Units and Related Parties" dated November 29, 2021.

2. Overview of Lease Agreement to be Commenced

(1)	Name of the Tenant	Undisclosed (Note 1)
(2)	Name of property	Tokyo Parkside Building
(3)	Total leased area in the lease agreement	1,587.34m2
(4)	Ratio of leased area applicable to the total	12.3%
leasable area of the Property (Note 2)
	Ratio of leased area applicable to the total
(5)	leasable area of the One REIT's portfolio (Note	0.9%
	3)
(6)	Monthly rent (including common area charges)	Undisclosed (Note 1)
(7)	Lease and guarantee deposits, etc.	Undisclosed (Note 1)
(8)	Date of lease agreement	May 20, 2022
(9)	Scheduled commencement date of lease term	May 21, 2022

(Note 1) The information is undisclosed as consent for disclosure has not been obtained from the Tenant.

(Note 2) Based on the total leasable area of the Property as of March 31, 2022 (12,920.17m2), the figure is rounded to the first decimal place.

(Note 3) Based on the total leasable area of the One REIT's portfolio as of March 31, 2022 (171,928.73m2), the figure is rounded to the first decimal place.

3. Outlook for Financial Results

The impact of the lease agreement with the Tenant on the financial results for the fiscal period ending August 2022 (18th fiscal period; March 1, 2022 to August 31, 2022) and the fiscal period ending February 2023 (19th fiscal period; September 1, 2022 to February 28, 2023) will be minimal, and thus One REIT will not make any revisions to its forecast of financial results for the period.

One REIT corporate website: https://one-reit.com/en/

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