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Translation Purpose Only Translation Purpose Only June 21, 2021 To All Concerned Parties 6-8-7 Ginza, Chuo-ku, Tokyo Frontier Real Estate Investment Corporation Takao Iwadou, Executive Director (Securities Code: 8964) Asset Management Company: Mitsui Fudosan Frontier REIT Management Inc. Shintaro Ono Chief Executive Officer and Representative Director Inquiries: Mitsui Fudosan Frontier REIT Management Inc. Teruyuki Hayashi Chief Finance Officer and Director Tel: +81-3-3289-0440 Notice Concerning the Acquisition of Real Estate Properties and Trust Beneficiary Rights to Real Estate Property in Japan (Three Properties including Mitsui Shopping Park LaLaport SHIN-MISATO (Main Building) (34% Co-Ownership Stake): Additional Acquisition) Frontier Real Estate Investment Corporation (the “Investment Corporation”) hereby announces the decision of Mitsui Fudosan Frontier REIT Management Inc., the Investment Corporation’s asset management company (the “Asset Management Company”), reached on June 21, 2021, to additionally acquire co-ownership stake in the main building of Mitsui Shopping Park LaLaport SHIN-MISATO. The Asset Management Company also decided to acquire Ginza 5-chome GLOBE and Takeshita-dori Square (the acquisition of the above three properties shall be hereinafter referred to as the “Acquisition,” with the properties hereinafter referred to individually as the “Asset to Be Acquired” or collectively as the “Assets to Be Acquired”), as detailed below. With this Acquisition, the Investment Corporation will be entitled to the entire ownership of Mitsui Shopping Park LaLaport SHIN-MISATO. In addition, the seller of Ginza 5-chome GLOBE and Takeshita-dori Square is a related party of the Asset Management Company as defined by the latter’s internal rules regarding transactions with related parties. Therefore, in accordance with these rules, the Asset Management Company obtained authorization from the Investment Corporation, based on the approval granted by the Investment Corporation’s Board of Directors meeting held on June 18, 2021, following the deliberation and resolution of the Compliance Committee on June 17, 2021. The Asset Management Company’s Board of Directors then resolved to conclude the contracts associated with the Acquisition at its Board of Directors meeting held today. 1. Details of Assets to Be Acquired Mitsui Shopping Park LaLaport SHIN-MISATO Property name (Main building) (34% co- Ginza 5-chome GLOBE Takeshita-dori Square ownership stake): additional acquisition Type of asset to Trust beneficiary rights to Real estate Real estate be acquired real estate ¥10,300 million ¥5,620 million ¥6,190 million Planned (Land: ¥7,416 million, (Land: ¥5,339 million, (Land: ¥5,880 million, acquisition price*1 Building: ¥2,884 million) Building: ¥281 million) Building: ¥309 million) Contract date June 21, 2021 June 21, 2021 June 21, 2021 Note: This press release is aimed at publicly announcing the acquisition of real estate properties and trust beneficiary rights to real estate property in Japan by the Investment Corporation and has not been prepared for the purpose of soliciting investments. Prior to making investment judgments, investors are advised to read the prospectus prepared and submitted by the Investment Corporation to describe the details of investment units, as well as any revisions, and engage in investment at their own discretion and responsibility. 1 Translation Purpose Only July 1, 2021 July 1, 2021 July 1, 2021 Planned (Delivery and clearance (Delivery and clearance (Delivery and clearance acquisition date date) date) date) SMFL MIRAI Partners Sellers*2 Mitsui Fudosan Co., Ltd. Mitsui Fudosan Co., Ltd. Company, Limited Proceeds from the Proceeds from the Proceeds from the issuance of new issuance of new issuance of new Acquisition investment units*3, investment units*3, investment units*3, financing loans*4 and self-financing loans*4 and self-financing loans*4 and self-financing (planned) (planned) (planned) Lump sum at the time of Lump sum at the time of Lump sum at the time of Payment method delivery delivery delivery *1 The amount noted here excludes miscellaneous acquisition costs, real property taxes, city planning taxes, consumption taxes, etc. *2 Please refer to “4. Seller Profile” below. *3 For more details, please refer to “Notice Concerning the Issuance of New Investment Units and Secondary Offering” announced today. *4 The Investment Corporation plans to borrow a total of ¥8,500 million on July 1, 2021. The Investment Corporation intends to disclose the detail of such borrowings as soon as it is determined. 2. Rationale The proposed acquisition is in line with the Investment Corporation’s “Basic Policy of Asset Management” and “Investment Stance” as stipulated in its Articles of Incorporation. Specifically, the Investment Corporation expects the Acquisition to help expand its asset size while enhancing the diversity of its properties in terms of geographical location and type of tenant. By doing so, the Investment Corporation aims to maintain and improve the quality, profitability and stability of its portfolio. In its decision to acquire this asset, the Asset Management Company also considered, inter alia, the following factors: (1) Evaluation of the Sites Mitsui Shopping Park LaLaport SHIN-MISATO (Main building) (34% co-ownership stake): additional acquisition Mitsui Shopping Park LaLaport SHIN-MISATO is located in front of Shin-Misato Station on the JR Musashino Line and serves as a core facility for Shin-Misato LaLaCity, a large-scale mixed-use town comprised of retail, residential and logistics facilities mainly redeveloped by Mitsui Fudosan Co., Ltd. on the approximately 50ha former site of the Musashino Soshajo yard for freight trains that closed down in 1986. Along with the property, IKEA Shinmisato, Costco Wholesale Warehouse Shin-Misato (whose land interest is owned by the Investment Corporation), and other large retail facilities are located around Shin-Misato Station, forming one of the largest commercial clusters in the North Kanto area. The current population of the trade area is on the rise thanks to ongoing housing development by Mitsui Fudosan Residential Co., Ltd. in Shin-Misato LaLaCity, as well as similar projects progressing near the adjacent Yoshikawaminami Station on the JR Musashino Line. The location of the property is also quite advantageous for large-scale retail facilities that target wide trade areas since it is close to the Misato Interchange on Joban Expressway and Misato-Nishi Interchange on Tokyo-Gaikan Expressway. Note: This press release is aimed at publicly announcing the acquisition of real estate properties and trust beneficiary rights to real estate property in Japan by the Investment Corporation and has not been prepared for the purpose of soliciting investments. Prior to making investment judgments, investors are advised to read the prospectus prepared and submitted by the Investment Corporation to describe the details of investment units, as well as any revisions, and engage in investment at their own discretion and responsibility. 2 Translation Purpose Only Ginza 5-chome GLOBE Ginza 5-chome GLOBE is located alongside Miyuki-dori, a street that opens onto Chuo-dori, a core district of the Ginza area boasting a concentration of diverse retail facilities that range from department stores and foreign luxury brand outlets to casual brand shops. Among the commercial districts of Ginza, Miyuki-dori is well known as a “brand street” comparable to Namiki-dori. With Chanel, Dolce & Gabbana and other luxury brands clustered on the neighboring street, the property’s location, which is close to the crossing with Chuo-dori, boasts prestige and deserves higher evaluation than other bustling locations on Miyuki-dori that stretches between Chuo-dori and Sotobori-dori. Moreover, there are several rebuilding projects progressing in areas around Ginza 6-chome and 7-chome. Accordingly, the number of people visiting the street is expected grow further. Takeshita-dori Square Takeshita-dori Square is located alongside Takeshita-dori in the Harajuku area, which is a big draw for foreign tourists as well as domestic shoppers due to its public recognition as “the holy land for teens,” especially in terms of fashion and as an epicenter of Japan’s “Kawaii (cute)” culture. Along Takeshita-dori there is a convergence of apparel shops handling youth fashion items in addition to cosmetic shops, fashion grocery stores, 100-yen shops and other facilities targeting teenagers. The property’s location amidst Japan’s trendsetting center is therefore highly recognized given its rarity. Directly in front of Harajuku Station on the JR Yamanote Line, WITH HARAJUKU was opened in June 2020. This novel retail complex facility houses IKEA Harajuku, a northern European furniture brand outlet that is the first in Japan to operate in a bustling urban district. Furthermore, JINGUMAE COMICHI, a complex of restaurants and bars, was opened in September 2020 on the north side of Takeshita-dori. Accordingly, the location is deemed advantageous as the number of people visiting the street is expected to increase. (2) Features of the Properties Mitsui Shopping Park LaLaport SHIN-MISATO (Main building) (34% co-ownership stake): additional acquisition Mitsui Shopping Park LaLaport SHIN-MISATO is a regional shopping center opened in September 2009 and operated by Mitsui Fudosan Co., Ltd., composed of approximately 170 stores owned by various tenants such as popular fast fashion including UNIQLO, H&M and ZARA, along with Nitori, Edion, Akachan
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