Star Asia Investment Management Co., Ltd. (the "Asset Manager") to which Star Asia Investment Corporation ("SAR") entrusts the management of its assets announced that, concerning "Funabashi Hi-tech Park Factory I" (the "Property") which is an asset managed by SAR, it has been decided to sign a construction contract for the building extension of the Property (the "Building Extension") with Toyo Construction Co., Ltd. Details are stated below. As a part of active management aiming to maximize unitholders' interests and with the aim to improve profitability of the portfolio, SAR is considering multiple options for each of the assets held such as redevelopment, building extension, and asset replacement etc. Concerning the Property, as announced in the release dated April 26, 2023 "Notice Concerning Signing of Construction Contract for Building Extension (Funabashi Hi-tech Park Factory I)", extension construction works are proceeding (hereinafter referred to as "Building Extension".

This time, a request was received from the current tenant it would like to dismantle the existing boiler room of the Property and newly build an office building utilizing unused capacity and sign a lease agreement. In response to this request, the Asset Manager has confirmed specic details of the request for building extension received from the current tenant and calculated the building extension cost based on it, negotiated the terms fo the lease after the building extension with the current tenant, and considered the profitability of the Property after the building extension, and has been able to confirm that the profitability of the Property will be improved by the building extension by utllizing the unused capacity from the building extension, and recently has signed a construction contract for the relevant building extension assuming that such extended building portion will be acquired.