Daiwa Securities Living Investment Corporation decided to refinance the borrowings of JPY 1,500 million in total (hereinafter referred to as the "Refinancing"). (1) Reason for the Borrowings The Investment Corporation has decided to enter into new borrowings for purpose of refinancing the existing borrowings of totaling JPY 1,500 million, which are due for repayment on June 28, 2024. For the details of the existing borrowings, please refer to the press release "Notice Concerning Refinancing of Loans" on June 25, 2019.

(2) Summary of Borrowings The Investment Corporation has decided to borrow a total of JPY 1,500 million from financial institutions with existing transactions. Lenders: The Hyakugo Bank Ltd. Amount borrowing: JPY 1,000 Million,Interest rate: 3-month JBA Japanese YenTIBOR+0.4075% (Note), Drawdown date: June 28, 2024, Method: Unsecured, Lump-sum repayment on the due date, Due date: June 29, 2029. The Hiroshima Bank,Ltd. Amount borrowing: JPY 500 Million,Interest rate: 3-month JBA Japanese Yen TIBOR+0.4075% (Note), Drawdown date: June 28, 2024, Method: Unsecured, Lump-sum repayment on the due date, Due date: June 29, 2029.

The Date of This Agreement: June 25, 2024. There is minimal impact from the Refinancing on asset management conditions for the fiscal period ending September, 2024 (April 1, 2024 to September 30, 2024) and the fiscal period ending March, 2025 (October 1, 2024 to March 31, 2025).