Certain Investment Units of Takara Leben Real Estate Investment Corporation are subject to a Lock-Up Agreement Ending on 28-AUG-2023. These Investment Units will be under lockup for 180 days starting from 1-MAR-2023 to 28-AUG-2023.

Details:
PAGJREIT Co-Invest Limited will, with respect to the general offering, agree with the joint lead manager for the period from the issue price determination date to the day 180 days after the delivery date of the general offering, the joint lead manager Sale, etc. of the Investment Units held prior to the Public Offering without obtaining written consent (excluding lending of the Investment Units to SMBC Nikko Securities Inc. in connection with the secondary offering through over-allotment).
In the above cases, the joint lead managing company has the right to remove all or part of the restriction or shorten the restriction period at its discretion.

Takara Leben Co., Ltd. (currently MIRARTH Holdings Co., Ltd.) (Note), Leben Community Co., Ltd., and Yamada Holdings Co., Ltd. will agree with the joint lead managing company regarding the public offering from the issue price determination date. During the period of 180 days after the delivery date of the public offering, we will not sell, etc. the Investment Units held prior to the public offering without obtaining the prior written consent of the joint lead managing company. I agree.
In the above cases, the joint lead managing company has the right to remove all or part of the restriction or shorten the restriction period at its discretion.

With respect to the public offering, the Investment Corporation will negotiate with the joint lead managing company for the period from the issue price determinationdate to the day 90 days after the delivery date of the public offering without written consent.
In addition, we agree that we will not issue the Investment B (excluding the issuance of the Investment Units through the Public Offering, the Third-Party Allotment and the split of the Investment Units, etc.).
In the above cases, the joint lead managing company has the right to remove all or part of the restriction or shorten the restriction period at its discretion.