Nippon Building Fund Incorporation: Notice Regarding Debt Financing (Green Loan)

March 14, 2022

To all parties concerned

REIT Issuer Name:

Nippon Building Fund Inc.

Koichi Nishiyama, Executive Director

(TSE Code: 8951)

Contact:

Asset management company

Nippon Building Fund Management Ltd.

Yoshiyuki Tanabe, President and CEO

Contact person:

Yukio Handa, General Manager

(TEL. +81-3-3516-3370)

Debt Financing Notice（Green loan）

Nippon Building Fund Inc. (“NBF”) hereby gives notice that the following has been decided as of March 14

2022 concerning a long-term loan（Green loan）:

The description

1. Long-term borrowing

	Rising	Interest	Expected date of	borrowing methods,	Refund due
Lender	Refund, Security
Borrowed	Rate	Implementation	Dated
	and warranty, etc.
				Insecure,
Japanese life				without warranty,
Assurance	5 billion yen	0.425%	March 23, 2022	repayable in a single payment	January 30, 2032
Company				amount to be repaid due
				Dated

This long-term loan will be executed as a green loan in line with the green financing framework (Note 1) for which a second party opinion obtained from Sustainalytics.

(Note 1) For more details, please refer to the second part opinion of Sustainalytics (URL below). https://mstar-sustops-cdn-mainwebsite-s3.s3.amazonaws.com/docs/default-source/spos/nippon-building- fund-inc.-green-finance-second-party-opinion.pdf?sfvrsn=1b7abdb9_3

– 1 –

1. Amount, use and expected date of expenditure of the products
2. 1. Amount to borrow 5 billion yen
   2. Specific use of the product
      Partial financing of the acquisition of Iidabashi Grand Bloom (CASBEE Real Estate Evaluation Certification S Rank) as announced by the “Notice of Acquisition and Disposal of Assets (Acquisition of Nakanoshima Mitsui Building and Other Property, and disposal of Toyo-cho Center Bldg. and two other properties)” dated January 6, 2022.
   3. Expected date of expenditure March 2022
3. State of loans etc. following the financing

			(Unit: million yen)
	Before	After		To augment /
	Funding	Funding		To diminish
Short-term loans	0	0		0
Long-term borrowings	26,000	26,000		0
(Variable interest rate)
Long-term borrowings	457,500	462,500		5,000
(Fixed interest rate)
Obligations	57,000	57,000		0
Total	540 500	545,500		5,000

4. Other Matters Required for Investors to Properly Understand and Evaluate the Above Information

There is no change in the content of the “Investment Risks” of the Securities Report submitted on September 29, 2021 with respect to redemption risks, etc. current debt financing.

To finish

This English notice is a translation of the Japanese notice dated March 14, 2022 and has been prepared solely for the convenience and reference of foreign investors. Neither FBN nor Nippon Building Fund Management Ltd. make no warranty as to its accuracy or completeness.

– 2 –