ITOCHU Advance Logistics Investment : Notice Concerning the Change of Rating

December 27, 2021

For immediate release

Real Estate Investment Trust Securities Issuer: ITOCHU Advance Logistics Investment Corporation 3-6-5 Kojimachi, Chiyoda-ku, Tokyo, Japan

Representative: Junichi Shoji, Executive Director (Securities Code: 3493)

Asset Management Company:

ITOCHU REIT Management Co., Ltd.

Representative:	Junichi Shoji, Representative Director,
	President & CEO
Inquiries:	Hiromu Shinoda, GM, Finance &Planning
	Department

TEL: [phone]

Notice Concerning the Change of Rating

ITOCHU Advance Logistics Investment Corporation ("IAL") today announced that Japan Credit Rating Agency, Ltd. ("JCR") has changed the long-term issuer rating and the bond rating of IAL as follows.

1. Content of the Change

Credit Rating Agency	Type of Credit Rating	Previous	Current
	Long-Term Issuer Rating	A+	AA-
JCR	Outlook	Positive	Stable
	Bond Rating	A+	AA-

2. Reasons for the Change of Rating

Please refer to JCR's website for the details concerning the reasons for the change. JCR's website: https://www.jcr.co.jp/en/

End

*IAL's corporate website:https://www.ial-reit.com/en/

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