Star Asia Investment : Notice Concerning Acquisition of Assessment Certification in CASBEE for Real Estate

August 1, 2022

For Immediate Release

Real Estate Investment Trust Securities Issuer

Star Asia Investment Corporation

Representative: Atsushi Kato, Executive Officer

(Code: 3468)

Asset Management Company

Star Asia Investment Management Co., Ltd.

Representative: Atsushi Kato

President and CEO

Contact: Akiko Kanno

Director and CFO

TEL: [phone]

Notice Concerning Acquisition of Assessment Certification in CASBEE for Real Estate

Star Asia Investment Corporation ("SAR") announced that with respect to "abeno nini (Retail) " which is one of the assets anticipated to be acquired in relation to the acquisition of domestic real estate trust beneficial interests as announced today in the press release entitled "Notice Concerning Acquisition of Real Estate Beneficiary Interests in Trust and entering into Lease Contracts", it has today obtained Rank A under the Comprehensive Assessment System for Built Environment Efficiency (CASBEE) for building certification. Details are as follows.

For further information related to "abeno nini (Retail)", please refer to the press release announced today entitled "Notice Concerning Acquisition of Real Estate Beneficiary Interests in Trust and entering into Lease Contracts".

1. Assessed Property and Assessment Result

Property name	Asset type	Location	Assessment Result
abeno nini (Retail)	Retail	Osaka-shi, Osaka	Rank A ★★★★

The scheduled acquisition date of the above-mentioned assessed and certified property is August 18, 2022. Although SAR has not acquired the property yet, the assessment was obtained today, after confirming completion of signing of the trust beneficial interest sale and purchase agreement with respect to the relevant property.

The relevant property is an asset classified under eligibility criteria 1 as prescribed in the Green Finance Framework established by SAR. Regarding the Green Finance Framework, please refer to the press release dated June 30, 2022 entitled "Notice concerning the Acquisition of Third-Party Evaluation for Green Finance Framework".

SAR intends to conduct Debt Financing (Green Loan) under the Green Finance Framework for the first time, in order to appropriate such procured funds to partial payment for acquisition of real estate trust beneficial interest related to the assessed and certified property and certain related costs. For further information regarding the Debt Financing (Green Loan), please refer to the press release announced today entitled "Notice Concerning Debt Financing (Green Loan)".

Note： This press release does not in any way constitute any part of an offering of securities for investment. This press release ha s been prepared for the purpose of announcing to the Acquisition of assessment certification in CASBEE for real estate, and not for the purpose of soliciting any investment, within or outside of Japan.

Additionally, this press release is not an offer of securities for sale in the United States. The securities referred to here in have not been, and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. No offering or sale of securities in the United States will be made in connection with the above-mentioned transactions. This press release is not for publication, distribution or release, directly or indirectly in or into the United States of Am erica.

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1. Future initiatives
   SAR recognizes the importance of serving its role in society as a listed real estate investment corporation, in addition to maximizing unitholders' value.
   With the aim to pursue long-term sustainability and to increase the corporate value of SAR, based on the "ESG Policy", SAR intends to take initiatives towards reducing the burden on the environment such as taking energy conservation measures. as well as to resolve social issues.
2. Overview of CASBEE's Real Estate Assessment and Certification System
   CASBEE is a system that comprehensively assesses the quality of buildings, including evaluating features such as interior comfort and consideration towards scenic aesthetics, in addition to consideration towards the environment such as using materials and equipment that save energy or achieve smaller environmental loads. CASBEE's real estate assessment system was developed with the aim of making use of the results of the environmental assessment of buildings in real estate assessment. It scores buildings under each of the evaluation items in five categories, comprising "1. Energy & Greenhouse Gases", "2. Water", "3. Use of Resources & Safety", "4. Biodiversity & Sustainable Site", and "5. Indoor Environment". Based on the scores, the assessment results are granted under one of four ranks: Rank S, Rank A, Rank B+, and Rank B.

Other press releases announced today

・Notice Concerning Issuance of New Investment Units and Secondary Offering of Investment Units ・Notice Concerning Acquisition of Real Estate Beneficiary Interests in Trust and entering into Lease

Contracts

・Notice Concerning Revision to Forecasts for Operating Results for the 14th Fiscal Period Ending January 31, 2023 and Forecasts for Operating Results and Distribution for the 15th Fiscal Period Ending July 31, 2023

・Notice Concerning Debt Financing (Green Loan)

・Notice Concerning Partial Amendment to the Management Guidelines of the Asset Manager ・Notice Concerning Change of Names of Properties

*SAR HP URL:http://starasia-reit.com/en/

This is an English translation of the announcement in Japanese dated August 1, 2022. However, no assurance or warranties are given for the completeness or accuracy of this English translation.

Note： This press release does not in any way constitute any part of an offering of securities for investment. This press release ha s been prepared for the purpose of announcing to the Acquisition of assessment certification in CASBEE for real estate, and not for the purpose of soliciting any investment, within or outside of Japan.

Additionally, this press release is not an offer of securities for sale in the United States. The securities referred to here in have not been, and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. No offering or sale of securities in the United States will be made in connection with the above-mentioned transactions. This press release is not for publication, distribution or release, directly or indirectly in or into the United States of Am erica.

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＜Attachment>

Property name	abeno nini (Retail)
Asset type	Retail

Assessment

Result

Property

photograph

Note： This press release does not in any way constitute any part of an offering of securities for investment. This press release ha s been prepared for the purpose of announcing to the Acquisition of assessment certification in CASBEE for real estate, and not for the purpose of soliciting any investment, within or outside of Japan.

Additionally, this press release is not an offer of securities for sale in the United States. The securities referred to here in have not been, and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. No offering or sale of securities in the United States will be made in connection with the above-mentioned transactions. This press release is not for publication, distribution or release, directly or indirectly in or into the United States of Am erica.

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