Sekisui House Reit : Notice Concerning Notification of Change in Matters Concerning Operational Procedures at Asset Management Company

March 30, 2022

Real Estate Investment Trust Securities Issuer

Sekisui House Reit, Inc.

Representative: Atsuhiro Kida, Executive Director (Securities Code: 3309)

Asset Management Company

Sekisui House Asset Management, Ltd. Representative: Toru Abe,

President & Representative DirectorInquiries:Nobuyoshi Sato,

Director & Investor Relations Department Chief Manager

TEL: [phone] (main)

Notice Concerning Notification of Change in Matters Concerning Operational

Procedures at Asset Management Company

Sekisui House Reit, Inc. ("SHR") announces that Sekisui House Asset Management, Ltd. ("SHAM"), to which SHR entrusts the management of its assets, has decided today to file a notification of partial change in matters concerning operational procedures (the "Change") related to the approval of entrustment-based agency services for transactions, etc. pursuant to the provisions of the Building Lots and Buildings Transaction Business Act (the "Approval") as described below.

• 1. Overview of the Change

  SHR originally stipulates under its Articles of Incorporation that one of its primary investment targets are non-residential, business purpose real estate that is used mainly as retail and other properties, including serviced apartments, serviced housing for the elderly, paid nursing homes and adult day care centers.

  Until now, SHAM has not established specific regulations for the investment of serviced housing for the elderly, paid nursing homes and adult day care centers (hereinafter collectively referred to as "senior assets") among such commercial facilities. However, in accordance with the "Guideline of Utilizing Healthcare REIT for Elderly Housing" established by the Ministry of Land, Infrastructure, Transport and Tourism, SHAM has established a system for the transaction and operation of senior assets and has established regulations for the specific investment of senior assets.

  As a result, some of the matters concerning operational procedures related to the Approval have been changed, thus we will file a notification of the Change in accordance with the conditions of the Approval.

• 2. Scheduled Date of Notification of the Change

  Notification will be made promptly after the Change is implemented.

• 3. Outlook of Operating Results

  The Change has no effect on the performance of SHR. There are no changes to the forecast of operating results for the fiscal periods ending April 30, 2022, and October 31, 2022, stated in the "Financial Report for the Fiscal Period Ended October 31, 2021" announced on December 15, 2021.

  * Sekisui House Reit, Inc. website:https://sekisuihouse-reit.co.jp/en/

Disclaimer: This translation is for informational purposes only. If there is any discrepancy between the Japanese version and the English translation, the Japanese version shall prevail.

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