Daiwa Securities Living Investment : Notice Concerning Debt Refinancing

English Translation

The following is an English translation of the Japanese original press release and is being provided for information purposes only.

June 23, 2022

To All Concerned Parties

REIT Issuer: Daiwa Securities Living Investment Corporation

6-2-1 Ginza, Chuo-ku, Tokyo 104-0061

Yoshio Urata, Executive Director

(Securities Code: 8986)

Asset Manager: Daiwa Real Estate Asset Management Co. Ltd.

Yoshiki Nishigaki, President and Chief Executive Officer

Inquiries: Kentaro Azumi, General Manager, Corporate Division

Tel: [phone]

Notice Concerning Debt Refinancing

Daiwa Securities Living Investment Corporation (hereinafter referred to as the "Investment Corporation") has decided today to refinance the borrowings of 1,500 million yen in total, which are due for repayment on June 30, 2022 (hereinafter referred to as the "Refinancing").

I. The Refinancing

1. Borrowing of Funds

1. Reason for the Borrowings

The Investment Corporation has decided to enter into new borrowings for purposes of refinancing the existing borrowings of totaling 1,500 million yen, which are due for repayment on June 30, 2022. For the details of the borrowings, please refer to the press release "Notice Concerning Borrowing of Funds" on December 19, 2014.

(2) Summary of Borrowings

The Investment Corporation has decided to borrow a total of 1,500 million yen from financial institutions with existing transactions.

Amount of

Drawdown

Lenders

borrowing

Interest rate

Method

Due date

date

(JPY million)

MUFG Bank, Ltd.

3-month JBA

June 30,

Unsecured,

September 28,

1,500

Japanese Yen

Lump-sum

Resona Bank, Limited

TIBOR+0.4950%

2022

repayment on

2029

(Note)

the due date

(Note) The Interest Payment Date is the last day of March, June, September, and December of each year after September 30, 2022 (if the relevant day is not a business day, the next business day, and if the next business day falls into the next month, the immediately preceding business day). The base interest rate applied to the calculation period for interest paid on the Interest Payment Date is calculated on the basis of the 3-month JBA TIBOR published two business days prior to the commencement of the calculation period for interest.

Please refer to the JBA TIBOR Administration website (http://www.jbatibor.or.jp/english/rate/) for JBA Japanese Yen TIBOR information.

2. The Date of This Agreement June 23, 2022

English Translation

The following is an English translation of the Japanese original press release and is being provided for information purposes only.

• Status of the Balance and Interest-bearing Debt Ratio Before and After the Refinancing.

								(Unit: JPY million)
			Before the			After the
			Refinancing			Refinancing		Change
			（June 29, 2022）
					（June 30, 2022)
Short-term borrowings (Note1)	0	0	0
Long-term borrowings (Note1)	159,587	159,587	0
	(Long-term borrowings due within one year) (Note2)	26,900	25,400	-1,500
Total borrowings	159,587	159,587	0
Investment corporation bonds	22,100	22,100	0
Total interest-bearing debt	181,687	181,687	0

(Note1) The debt periods for short-term borrowings are within one year and long-term borrowings are over one year.

(Note2) Long-term borrowings due within one year represent borrowings due within one year from the respective dates indicated above.

Ⅲ. Forecasts

There is minimal impact from the Refinancing on asset management conditions for the fiscal periods ending September 30, 2022 (April 1, 2022 to September 30, 2022) and the fiscal period ending March 31, 2023 (October 1, 2022 to March 31, 2023).

Ⅳ. Other

As for risks pertaining to the Refinancing, there are no material changes to the "Investment risks" stated in the 32nd Financial Period Securities Report (submitted on June 21, 2022).

*URL:https://www.daiwa-securities-living.co.jp/en/