Kenedix Retail REIT : Notice Concerning Debt Financing (Determination of Interest Rate) and the Execution of Interest Rate Swaps

Translation of Japanese Original

February 8, 2022

To All Concerned Parties

REIT Issuer:

Kenedix Retail REIT Corporation

Representative: Moyuru Watanabe, Executive Director

(Securities Code: 3453)

Asset Manager:

Kenedix Real Estate Fund Management, Inc.

Representative: Masahiko Tajima, President & CEO

Contact:Koichiro Nobata, Head of Strategic Planning,

Retail REIT Department

TEL:[phone]

Notice Concerning Debt Financing (Determination of Interest Rate) and

the Execution of Interest Rate Swaps

Kenedix Retail REIT Corporation ("KRR") announced today that the undecided matters have been determined for the Borrowings announced in the the press release, "Notice Concerning Debt Financing (Series 46) and Execution

of Interest Rate Swaps" dated February 3, 2022 as follows. The details are provided as follows.

1. Details of debt financing

		Amount				Principal	Collateral /
		Interest rate		Drawdown	repayment
Series	Lender	(millions	Contract date	Repayment
(Note)	date	date
		of yen)		method
					(Note)
							Unsecured,
							unguaranteed /
46-B	MUFG Bank, Ltd.	800	0.64000%	February 8,	February 10,	January 31,	Repayment of
(Fixed rate)	2022	2022	2029	principal in full
							on maturity
							date

Note: The first interest payment is at the end of April 2022, and on the last day of every three months thereafter, with the last interest payment on the principal repayment date. The interest payment and the principal repayment will be made on the following business day in case such date falls on a non-business day and the preceding business day in case such date falls in the next calendar month.

2. Details of interest rate swap agreement

	Series		46-A1	46-A2		46-A3		46-A4		46-A5	46-A6
Counterparty			Daiwa Securities Co., Ltd.
Notional amount (million yen)	2,600	600		400		400		300	300
Interest	Fixed interest rate for payment				0.27200% (Note)
	rates	Floating interest rate for receipt		Base rate (JBA TIBOR for 3-month)
Commencement date				February 10, 2022
Termination date				January 31, 2029
			The first payment will be made at the end of April 2022, and on
Payment date	the last day of every three months thereafter, with the last payment
			on the termination date.
Note: By entering into the interest rate swap agreement, the interest rate for Series 46-A is essentially fixed at 0.72200%.
	Series						46-C
Counterparty			Daiwa Securities Co., Ltd.
Notional amount (million yen)			1,600
Interest	Fixed interest rate for payment				0.32860% (Note)
	rates	Floating interest rate for receipt		Base rate (JBA TIBOR for 3-month)

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Commencement date	February 10, 2022
Termination date	January 31, 2031
	The first payment will be made at the end of April 2022, and on
Payment date	the last day of every three months thereafter, with the last payment
	on the termination date.

Note: By entering into the interest rate swap agreement, the interest rate for Series 46-C is essentially fixed at 0.87860%.

3. Other matters

Risks pertaining to the borrowings and the repayment remain unchanged from the description of "Investment Risks" described in the Securities Report submitted on December 23, 2021.

KRR's website address:https://www.krr-reit.com/en

This notice is the English translation of the Japanese announcement on February 8, 2022. However, no assurance or warranties are given for the completeness or accuracy of this English translation.

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