Ki Star Real Estate : ［Delayed］ Notice Concerning Partial Amendments to the Articles of Incorporation

May 24, 2021

To whom it may concern:

Company name: KI-STAR REAL ESTATE CO., LTD. Representative: Keiji Hanawa, President and CEO

(Securities code: 3465;

Tokyo Stock Exchange, First Section) Contact: Osamu Matsuzawa, Executive Officer,

General Manager of Administration Division

(Tel: [phone])

Notice Concerning Partial Amendments to the Articles of Incorporation

(Increase in the Number of Directors)

KI-STAR REAL ESTATE CO., LTD. ("the Company") hereby announces that it has resolved, at a meeting of the Board of Directors held today, to submit a proposal on "Partial Amendments to the Articles of Incorporation" to the 31st Annual General Meeting of Shareholders to be held on June 25, 2021. The details are described below.

1. Purpose of the amendments to the Articles of Incorporation

In order to enhance and expand the Company's management structure, the number of Directors, stipulated in Article 19 of the current Articles of Incorporation, shall be amended from ten (10) or fewer to fifteen (15) or fewer.

2. Details of the amendments to the Articles of Incorporation

The details of the amendments are as follows. (The underlined portions indicate amendments.)

Current Articles of Incorporation	Proposed Amendments
Chapter IV Directors and the Board of Directors	Chapter IV Directors and the Board of Directors
(Number of Directors)	(Number of Directors)
Article 19 The number of Directors of the Company	Article 19 The number of Directors of the Company
shall be ten (10)or fewer.	shall be fifteen (15)or fewer.

3. Schedule

Date of General Meeting of Shareholders at which the amendments to the Articles of Incorporation will be proposed:

Effective date of the amendments to the Articles of Incorporation:

Friday, June 25, 2021

Friday, June 25, 2021