Activia Properties : Notice Concerning Differences Between Forecasts and Actual Results of Management Performance and Cash Distributions for the Fiscal Period Ended May 31, 2023

July 19, 2023

FOR IMMEDIATE RELEASE

Activia Properties Inc.

21-1 Dogenzaka 1-chome,Shibuya-ku, Tokyo

Nobuhide Kashiwagi

Executive Director

(Code: 3279)

Asset Management Company

TLC REIT Management Inc.

Akira Kubo

President & CEO

Inquiries

Manabu Kamikawara

General Manager of Strategy Department

Activia Management Division

(Tel: [phone])

Notice Concerning Differences Between Forecasts and Actual Results of Management

Performance and Cash Distributions for the Fiscal Period Ended May 31, 2023

Activia Properties Inc. ("API") announces that differences from the previous forecasts announced on January 17, 2023 in the "Financial Report for the Fiscal Period Ended November 30, 2022" resulted in the following actual results of the management performance and cash distributions for the fiscal period ended May 31, 2023 (December 1, 2022 - May 31, 2023) (the 23rd Period). Details are as follows.

1． Previous forecasts and actual results of the management performance and cash distributions for the fiscal period ended May 31, 2023

					Cash
					Cash
					distributions
					distributions
	Operating	Operating	Ordinary		(including	Cash
	Profit	(excluding
	cash	distributions
	revenue	profit	profit	cash
	(Millions of	distributions	in excess of
	(Millions of	(Millions of	(Millions of	distributions
	yen)	in excess of	earnings per
	yen)	yen)	yen)	in excess of
		earnings)	unit
					earnings)
					per unit	(yen)
					per unit
					(yen)
					(yen)
Previous	16,149	8,844	7,880	7,865
forecast	9,350	9,350	-
(A)
Actual	17,482	9,826	8,859	8,843
results	9,875	9,875	-
(B)
Changes	1,333	981	978	978	525	525	-
(B-A)
Changes	8.3%	11.1%	12.4%	12.4%	5.6%	5.6%	-
(Reference) Number of investment units at the end of the fiscal period: 807,446 units
(Notes)	1. For the actual results described above, refer to "Financial Report for the Fiscal Period Ended May 31, 2023
	(December 1, 2022 - May 31, 2023)"

2. Amounts less than the stated units are rounded down and the percentage is rounded to the first decimal place.

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2． Reasons for differences

The main reasons for the differences are that operating revenue exceeded the previous forecast, due to the gain on sale of real estate properties resulting from the disposition of Tokyu Plaza Ginza (Land) and the leasing business revenue such as sales-linked rent being higher than expected.

*Website of API: https://www.activia-reit.co.jp/en/

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