This translation of the original Japanese notice is provided solely for information purposes. Should there be any discrepancy between this translation and the Japanese original, the latter shall prevail.

October 27, 2023

REIT Issuer: Daiwa Office Investment Corporation (Stock Code No.: 8976)

Representative: Keiichi Sakai, Executive Director

Asset Manager: Daiwa Real Estate Asset Management Co. Ltd.

Representative: Yoshiki Nishigaki , President and Representative Director

Inquiries to: Kentaro Azumi, General Manager, Corporate Division (Tel: +81-3-6215-9649)

Notice Concerning Conclusion of Swap Agreement

We hereby give notice that Daiwa Office Investment Corporation (the "Investment Corporation") has concluded the interest-rate swap agreements (the "Swap Agreement") regarding portions of the existing debt loans with floating-rate (the "Floating-rate Borrowing") (the total notional principal: JPY 6,000 million), as follows.

1. Summary of the Swap Agreement for the Floating-rate Borrowing

Notional

Interest-Rate

Scheduled

Scheduled

Lender

Principal

Counterparty

Fixed-rate

Floating-

Commence

Termination

(JPY million)

rate

ment Date

Date

Payment

Receipt

Tokio Marine & Nichido

Fire Insurance Co.,

1,000

0.7061%

2028/5/31

Ltd.

Resona Bank, Limited.

1,000

0.7336%

2028/8/31

Sumitomo

Sumitomo Mitsui

1,000

0.7639%

3 month

2028/11/30

Mitsui

Trust Bank, Limited.

JPY

Trust Bank,

TIBOR

2023/10/31

Sumitomo Mitsui

1,000

Limited.

0.7914%

2029/2/28

(Note 1)

Banking Corporation

MUFG Bank, Ltd.

1,000

0.8189%

2029/5/31

The Gunma Bank, Ltd.

1,000

0.8464%

2029/8/31

(Note 1) Interest payments are due at the end of February, May, August, and November and on the scheduled termination date (If any such date is not a business day, the immediately following business day; and if such date falls within the next month, the preceding last business day). The floating-rate receipt shall be calculated based on JPY TIBOR for 3 month, which the JBA TIBOR Administration (the"JBATA") releases two business days before each interest payment date. The JPY TIBOR of the JBATA is available on the JBATA website (https://www.jbatibor.or.jp/english/rate/).

(Note 2) Interest rates for applicable period shall be announced at https://www.daiwa-office.co.jp/en/finance/borrowings.html

  1. Purpose of the Swap Agreement for the Floating-rate Borrowing
    The Investment Corporation concluded the Swap Agreement to offset the risks of possible increase of the future interest rate by converting from floating-rate to fixed-rate for the above Floating-rate Borrowings.
  2. Fixed Interest-Rate after Concluding the Swap Agreement

Lender

Amount

Current Floating

Fixed Interest

Borrowing

Repayment

(JPY million)

Interest-rate

- Rate

Date

Date

Tokio Marine & Nichido

3 month

Fire Insurance Co.,

1,000

JPY

0.9061%

2023/7/31

2028/5/31

Ltd.

TIBOR + 0.200%

3 month

Resona Bank, Limited.

1,000

JPY

0.9336%

2023/8/31

2028/8/31

TIBOR + 0.200%

Sumitomo Mitsui

3 month

1,000

JPY

1.0139%

2022/11/30

2028/11/30

Trust Bank, Limited.

TIBOR + 0.250%

Sumitomo Mitsui

3 month

1,000

JPY

1.0914%

2022/2/28

2029/2/28

Banking Corporation

TIBOR + 0.300%

3 month

2029/5/31

MUFG Bank, Ltd.

1,000

JPY

1.1189%

2022/5/31

TIBOR + 0.300%

3 month

2029/8/31

The Gunma Bank, Ltd.

1,000

JPY

1.1714%

2022/2/28

TIBOR + 0.325%

-End-

[Reference]

Ratio of Fixed-Rate and Floating-RateInterest-Bearing Liabilities (Assumed as of October 31, 2023)

Before

After

Fixed-rateinterest-bearing

64.94%

67.83%

liabilities

Floating-rateinterest-bearing

35.06%

32.17%

liabilities

* Website URL of the Investment Corporation:

http://www.daiwa-office.co.jp/en/

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Disclaimer

Daiwa Office Investment Corporation published this content on 27 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2023 08:11:19 UTC.