Kenedix Retail REIT : Notice Concerning Establishment and Extension of Commitment Line Agreements

Translation of Japanese Original

March 24, 2022

To All Concerned Parties

REIT Issuer:

Kenedix Retail REIT Corporation

Representative: Moyuru Watanabe, Executive Director

(Securities Code: 3453)

As se t M an ag e r:

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 Establishment and Extension of Commitment Line Agreements

Kenedix Retail REIT Corporation ("KRR") announced today its decision to establish and extend commitment line agreements as follows.

1. Purpose of establishing commitment line agreement

KRR decided to conclude commitment line agreement to secure flexibility and stability in financing method, for potential needs of funds.

The existing 1,000 million commitment line agreement with Sumitomo Mitsui Banking Corporation will be renewed after expiring on March 31, 2022.

Furthermore, the expiration date of commitment line agreements with Mizuho Bank, Ltd. and MUFG Bank, Ltd., released in the press release, "Notice Concerning Establishment of Commitment Lines" dated March 27, 2019, will be extended. The total limit of the commitment lines will be 3,000 million yen upon the execution of the commitment line agreements.

2. Outline of commitment line agreements (as of April 1, 2022)

Counterparty	Limit of maximum	Contract date	Contract period	Collateral
amount (million yen)
Sumitomo Mitsui	1,000	March 29, 2022	April 1, 2022 to
Banking Corporation	March 31, 2023
Mizuho Bank, Ltd.	1,000	March 27, 2019	April 1, 2022 to	Unsecured,
March 31, 2023	unguaranteed
MUFG Bank, Ltd.	1,000	March 29, 2019	April 1, 2022 to
March 31, 2023

3. Other matters

Risks pertaining to the borrowings and the repayment remain unchanged from those listed in the securities report of KRR 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 March 24, 2022. However, no assurance or warranties are given for the completeness or accuracy of this English translation.