United Urban Investment : Notice Concerning New Lease Agreement (KIC Sayama Hidaka Distribution Center)

For Translation Purposes Only

December 27, 2022

For Immediate Release

United Urban Investment Corporation

Toshiaki Emon

Executive Officer

(Securities Code: 8960)

Asset Management Company:

Japan REIT Advisors Co., Ltd.

Norimasa Gaun

President and CEO

Inquiries:

Shuichi Kamizono

Chief Financial Officer

TEL: [phone]

Notice Concerning New Lease Agreement (KIC Sayama Hidaka Distribution Center)

United Urban Investment Corporation ("United Urban") hereby announces that today Japan REIT Advisors Co., Ltd. ("JRA"), the asset management company to which United Urban entrusts asset management services, has decided that United Urban enters into a new fixed term building lease agreement with a new tenant (the "New Agreement") at KIC Sayama Hidaka Distribution Center (the "Property") as set forth below.

1. Background of the New Agreement (Note 1)

United Urban and the current tenant have been in a contractual relationship under the lease agreement for up to one year from June 30, 2022 ("Current Agreement") (Note 2). United Urban and the current tenant have agreed to terminate the Current Agreement as of December 31, 2022, and United Urban will conclude the New Agreement with the new tenant.

(Notes)

1. When selecting tenants, JRA carefully scrutinizes their credit information (such as attribute, industry, business scope, business performance, financial status, etc.) of prospective corporations and individuals.
2. For details of the Current Agreement, please refer to the press release "Notice Concerning Acquisition of Property (KIC Sayama Hidaka Distribution Center" dated May 31, 2022.

2. Overview of the New Agreement

(1)	Name of the Tenant	:	Undisclosed (Note 1)
(2)	Leased Area	:	Total: 15,113.07m2
			(Leased Area as a Percentage of the Property's Total Leasable Area: 100%)
			(Leased Area as a Percentage of United Urban's Total Leasable Area: 0.96% (Note 2))
(3)	Rental Revenues	:	Undisclosed (Note 1)
	(Annual)
(4)	Security Deposit	:	Undisclosed (Note 1)
(5)	Agreement Date	:	December 28, 2022
(6)	Contract Term	:	From January 1, 2023 to December 31, 2027

(Notes)

1. Not disclosed, due to unavoidable circumstances where consent for the disclosure has not been obtained from the new tenant.
2. The total leasable area of the properties owned by United Urban is 1,574,218.12m2 as of November 30, 2022.

3. Outlook of Operating Condition

United Urban will announce the effect of the change in the forecast for the thirty-ninth fiscal period ending May 31, 2023 and the fortieth fiscal period ending November 30, 2023, both of which are scheduled to be released in "SUMMARY OF FINANCIAL REPORT FOR THE FISCAL PERIOD ENDED NOVEMBER 30, 2022" on January 19, 2023.