Tokyu REIT : Notice Concerning Long-Term Debt Financing and Repayment of Long-Term Borrowing

February 22, 2022

Real Estate Investment Trust Unit Issuer:

TOKYU REIT, Inc.

1-12-1, Dogenzaka,

Shibuya-ku, Tokyo, 150-0043, Japan

Kazuyoshi Kashiwazaki

Executive Director

(Securities Code: 8957)

Investment Management Company:

Tokyu Real Estate Investment Management Inc.

Representative:

Kazuyoshi Kashiwazaki

Representative Director & President, Chief Executive Officer

Inquiries:

Yuji Shimizu

General Manager, Finance and IR

TEL: [phone]

Notice Concerning Long-Term Debt Financing

and Repayment of Long-Term Borrowing

TOKYU REIT, Inc. ("TOKYU REIT") today announced its decision to undertake debt financing and repayment. Brief details are as follows.

1. Debt Financing

（1） Rationale

TOKYU REIT will undertake debt financing for procurement of funds to repay long-term debt maturing on February 25, 2022. In an effort to ensure stability in connection with the procurement of funds, TOKYU REIT has adopted strategies to convert its debt financing to long-term fixed interest rate borrowings and to diversify repayment dates.

（2）Details of Debt Financing

Classification	Long-Term Debt
Lender	Mizuho Trust & Banking co., Ltd.
Debt Financing Amount	¥500 million		¥500 million
Interest Rate	0.56880%		0.78815%
(Fixed interest rate)		(Fixed interest rate)
Repayment Method	Lump-sum repayment on maturity
Drawdown Date	February 25, 2022
Maturity Date (Note)	February 25, 2026		February 25, 2030
Period	4 years		8 years
Collateral	Unsecured, unguaranteed
Financing Fee	None

(Note) In case the repayment date is not a business day, such date will be the following business day or the preceding business day (if the immediately following business day falls into the following month).

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2. Repayment of Debt

Debt borrowed on September 28, 2020.

Classification	Long-Term Debt
Lender	Mizuho Trust & Banking co., Ltd.
Debt Financing Amount	¥2,400 million
Interest Rate	Base interest rate
( JBA three-month Japanese Yen TIBOR ) +0.230%
Repayment Method	Lump-sum repayment on maturity
Drawdown Date	September 28, 2020
Repayment Date	February 25, 2022
Maturity Date (Note)	February 25, 2022
Repayment Source	Debt finance mentioned above 1. Debt Financing
and cash on hand
Period	1 year 5 months
Collateral	Unsecured, unguaranteed
Financing Fee	None

(Note) In case the repayment date is not a business day, such date will be the following business day or the preceding business day (if the immediately following business day falls into the following month).

3. Total Debt After Additional Debt Financing and Repayment
		Debt Balance Prior to		Debt Balance after
		Additional Debt		Additional Debt	Change
		Financing and		Financing and
			(¥ millions)
		Repayment		Repayment
		(¥ millions)		(¥ millions)
	Short-Term Debt Financing	0	0	-
	Long-Term Debt Financing	86,400	85,000	-1,400
	Total Debt Financing	86,400	85,000	-1,400
	Investment Corporation	8,000	8,000	-
	Bonds
	Interest-Bearing Debt	94,400	93,000	-1,400

4. Others

Regarding the loan repayment risk, there is no change to the "Investment risks" of the latest securities report submitted on October 29, 2021.

[Reference]

Timely Disclosure Relating to the Debt Financings to be Repaid (Except concerning decision of Interest Rate)

September 24, 2020 Notice Concerning Long-Term Debt Financing and Short-Term Debt Financing (Determination of Interest Rate)

This notice may contain forward-looking statements, such as current plans, strategies, and future performance. These forward-looking statements are based on judgments obtained from currently available information. Please be advised that, for a variety of reasons, actual results may differ materially from those discussed in the forward-looking statements. Events that might affect actual results include, but are not limited to, fluctuations of the real estate market in Japan, general conditions of the Japanese economy, competitive pressures and relevant regulations.

This notice is a translation of the original document in Japanese and is prepared solely for the convenience of non-Japanese speakers. There is no assurance as to the accuracy of the English translation. The original Japanese notice shall prevail in the event of any discrepancies between the translation and the Japanese original.

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