Kenedix Retail REIT Corporation, at the board meeting held on May 17, 2018, announced appointment of Directors. The company proposed the appointment of Akihiro Asano as Executive Director as of July 1, 2018 since Executive Director Akihiro Asano's term of office expires on June 30, 2018. The company proposed the appointment of Koichiro Nobata as Alternate Executive Director in preparation to avoid the case of vacant or having fewer Executive Directors than that designated by relevant regulatory requirements. The company proposed the appointments of Yoshitoshi Yasu and Akiko Yamakawa as Supervisory Directors as of July 1, 2018 since Supervisory Director Yoshitoshi Yasu and Mai Ishiwatari's term of office expires on June 30, 2018. The company proposed the appointment of Satoshi Hiyama as Alternate Supervisory Director in preparation to avoid the case of vacant or having fewer Supervisory Directors than that designated by relevant regulatory requirements. The aforementioned appointments shall take effect upon approval by the General Meeting of Unitholders.