Mitsui Fudosan Logistics Park : Notice Concerning Addition to Right of First Look and Preferential Negotiation Properties

January 11, 2022

For Immediate Release

Real Estate Investment Trust Securities Issuer:

Mitsui Fudosan Logistics Park Inc.

(Securities Code: 3471)

6-8-7 Ginza, Chuo-ku, Tokyo, 104-0061

Representative: Hiroshi Asai, Executive Director

Asset Management Company:

Mitsui Fudosan Logistics REIT Management Co., Ltd.

Representative: Yukio Yoshida, President and Chief

Executive Officer

Inquiries: Tatsu Makino, Managing Director and Chief

Financial Officer

Tel.[phone]

Notice Concerning Addition to Right of First Look and Preferential Negotiation Properties

Mitsui Fudosan Logistics REIT Management Co., Ltd. ("the Asset Management Company"), which manages the assets of Mitsui Fudosan Logistics Park Inc. ("MFLP-REIT"), received a notification today from Mitsui Fudosan Co., Ltd. ("Mitsui Fudosan"), which sponsors MFLP-REIT, that an addition had been made on January 11, 2022 to the list of right of first look and preferential negotiation properties (Note) issued on January 29, 2021 pursuant to the provisions of the right of first look and preferential negotiation agreement entered into by and between Mitsui Fudosan and the Asset Management Company on June 30, 2016 ("the Agreement"). Consequently, MFLP-REIT today announced the addition of the following 3 properties ("the Subject Properties") to the list of right of first look and preferential negotiation properties. Details are as follows.

(Note) The list refers to a list of the right of first look and preferential negotiation properties about which the Asset Management Company has the right to receive the preferential provision of information from Mitsui Fudosan pursuant to the Agreement. Please refer to "2. Outline of Right of First Look and Preferential Negotiation Agreement" later in this release for details.

1. Outline of the Subject Properties

Property Name	Location	Month and Year of	Gross Floor Area
Completion	(planned)
MFLP Tomei Ayase	Ayase-shi,	June 2022	57,826m2(Note)
(quasi co-ownership interest:50%)	Kanagawa	(scheduled)
SG Realty MFLP Fukuoka Kasuya	Kasuya-gun,	September 2022	36,141m2(Note)
(quasi co-ownership interest:50%)	Fukuoka	(scheduled)

Note: This document is a press release that is to be made publicly available regarding the addition to right of first look and preferential negotiation properties under the right of first look and preferential negotiation agreement, and has not been prepared for the purpose of solicitation of investment. Prospective investors should make investment decisions only after they review the prospectus for the issuance of new investment units and secondary offering of investment units as well as amendments thereto (if any) prepared by MFLP-REIT, and note that the investment decisions are made at their discretion and responsibility.

In addition, this document does not constitute an offer of securities in the U.S. The securities referred to above have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The securities referred to above may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. The securities referred to above will not be publicly offered or sold in the United States.

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MFLP Yatomi Kisosaki	Kuwana-gun, Mie	Fiscal 2022	98,792m2
(scheduled)

(Note) Gross floor area for this property is given for the entire property.

As of today, MFLP-REIT has not made a decision to acquire the Subject Properties. Because the owner of the Subject Properties are deemed to be an interested person, etc. defined in Article 201 of the Act on Investment Trusts and Investment Corporations (Act No. 198 of 1951, as amended) and Article 123 of the Order for Enforcement of the Act on Investment Trusts and Investment Corporations (Act No. 480 of 2000, as amended) and also deemed to be an interested person defined in the interested party transactions rules of the Asset Management Company, MFLP-REIT will perform the necessary due diligence before making a decision pursuant to the interested party transactions rules of the Asset Management Company if MFLP-REIT is to acquire the Subject Properties.

MFLP-REIT is not necessarily able to acquire the Subject Properties and, at the same time, is under no obligation to acquire them. Additionally, neither MFLP-REIT nor the Asset Management Company are required to pay any consideration to Mitsui Fudosan, the other party to the Agreement, for the revision of the list of the right of first look and preferential negotiation properties.

2. Outline of Right of First Look and Preferential Negotiation Agreement

Under its strategic partnership with Mitsui Fudosan, the Asset Management Company concluded a right of first look and preferential negotiation agreement with Mitsui Fudosan on June 30, 2016. Following the revision of the list of right of first look and preferential negotiation properties made on January 11, 2022, the total number of right of first look and preferential negotiation properties and properties subject to the right of first refusal, which MFLP-REIT has acquired based on agreements other than the Agreement, came to 11, with a total floor area of 1,070,000 m2 (taking percentages of co-ownership interests and quasi co-ownership interests into consideration) (Note).

(Note) Please refer to the and the later in this release for details of the Subject Properties stated in the list of right of first look and preferential negotiation properties and the properties subject to the right of first refusal that MFLP-REIT has acquired based on agreements other than the Agreement as of January 11, 2022.

The list of right of first look and preferential negotiation properties will be revised at a specific time each year. Mitsui Fudosan will add properties which it deems could be sold to MFLP-REIT, and the Asset Management

Note: This document is a press release that is to be made publicly available regarding the addition to right of first look and preferential negotiation properties under the right of first look and preferential negotiation agreement, and has not been prepared for the purpose of solicitation of investment. Prospective investors should make investment decisions only after they review the prospectus for the issuance of new investment units and secondary offering of investment units as well as amendments thereto (if any) prepared by MFLP-REIT, and note that the investment decisions are made at their discretion and responsibility.

In addition, this document does not constitute an offer of securities in the U.S. The securities referred to above have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The securities referred to above may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. The securities referred to above will not be publicly offered or sold in the United States.

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Company will be notified in writing at the end of January and at any time that Mitsui Fudosan may determine in its discretion.

3. The Effect of Addition to Right of First Look and Preferential Negotiation Properties on MFLP-REIT MFLP Tomei Ayase, SG Realty MFLP Fukuoka Kasuya and MFLP Yatomi Kisosaki, which have now been added to the right of first look and preferential negotiation properties, are all leading-edge logistics facilities with Mitsui Fudosan quality (Note) being developed by Mitsui Fudosan, and MFLP-REIT believes that these properties can maintain facility competitiveness in the medium and long terms.

MFLP-REIT will continue steadily securing opportunities to acquire leading-edge logistics facilities developed by Mitsui Fudosan through the addition of right of first look and preferential negotiation properties pursuant to the Agreement. MFLP-REIT believes that further expansion and diversification of its portfolio, which is characterized by Mitsui Fudosan quality, through the timely acquisition of such right of first look and preferential negotiation properties will help further increase the stability of its operations.

(Note) Please refer to "Corporate Characteristics/ Investment Strategy/ Focus on the MFLP Facilities/ Emphasis on quality (https://www.mflp- r.co.jp/en/feature/mflp.html)" on the website of MFLP-REIT for details of Mitsui Fudosan quality.

4. Future prospects

The addition of the right of first look and preferential negotiation properties will not affect the operating results of MFLP-REIT for the 11th fiscal period ending January 31, 2022 and the 12th fiscal period ending July 31, 2022. Please refer to the "Notice Concerning Revisions to Operating Results Forecast for the Fiscal Period Ending July 31, 2022 and Disclosure of Operating Results Forecast for the Fiscal Period Ending January 31, 2023" released on January 11, 2022, regarding the outlook for MFLP-REIT's operating results forecast for the fiscal period ending July 31, 2022 (February 1, 2022 to July 31, 2022) and the fiscal period ending January 31, 2023 (August 1, 2022 to January 31, 2023).

End.

* MFLP-REIT's corporate website: https://www.mflp-r.co.jp/en/

Note: This document is a press release that is to be made publicly available regarding the addition to right of first look and preferential negotiation properties under the right of first look and preferential negotiation agreement, and has not been prepared for the purpose of solicitation of investment. Prospective investors should make investment decisions only after they review the prospectus for the issuance of new investment units and secondary offering of investment units as well as amendments thereto (if any) prepared by MFLP-REIT, and note that the investment decisions are made at their discretion and responsibility.

In addition, this document does not constitute an offer of securities in the U.S. The securities referred to above have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The securities referred to above may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. The securities referred to above will not be publicly offered or sold in the United States.

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< Details of the Subject Properties >

Property name	MFLP Tomei Ayase
Category	Logistics facilities
Location	Ayase-shi, Kanagawa
Property type	Slope-type MFLP (Note 1)
Planned land area	27,052 m2 (Note 2)
Planned gross floor area	57,826 m2 (Note 2)
Planned structure	4 stories above ground (Note 2)
Date of completion	June 2022 (scheduled) (Note 2)
Photograph (image of
completed facility)
	(Note) The view above is a conceptual diagram and may differ from the Subject Properties after
	completion.

(Note 1) "Slope-type MFLP" refers to logistics facilities that provide slopes that allow trucks to directly access some of the upper-floor truck berths.

(Note 2) Information based on the building plan, etc. as of January 11, 2022.

Note: This document is a press release that is to be made publicly available regarding the addition to right of first look and preferential negotiation properties under the right of first look and preferential negotiation agreement, and has not been prepared for the purpose of solicitation of investment. Prospective investors should make investment decisions only after they review the prospectus for the issuance of new investment units and secondary offering of investment units as well as amendments thereto (if any) prepared by MFLP-REIT, and note that the investment decisions are made at their discretion and responsibility.

In addition, this document does not constitute an offer of securities in the U.S. The securities referred to above have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The securities referred to above may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. The securities referred to above will not be publicly offered or sold in the United States.

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Property name	SG Realty MFLP Fukuoka Kasuya
Category	Logistics facilities
Location	Kasuya-gun, Fukuoka
Property type	Box-type MFLP (Note 1)
Planned land area	17,981 m2 (Note 2)
Planned gross floor area	36,141 m2 (Note 2)
Planned structure	4 stories above ground (Note 2)
Date of completion	September 2022 (scheduled) (Note 2)
Photograph (image of
completed facility)
	(Note) The view above is a conceptual diagram and may differ from the Subject Properties after
	completion.

(Note 1) "Box-type MFLP" refers to logistics facilities that allow trucks to access truck berths located on the ground floor and are equipped with vertical conveyors for delivery to upper floors.

(Note 2) Information based on the building plan, etc. as of January 11, 2022.

Note: This document is a press release that is to be made publicly available regarding the addition to right of first look and preferential negotiation properties under the right of first look and preferential negotiation agreement, and has not been prepared for the purpose of solicitation of investment. Prospective investors should make investment decisions only after they review the prospectus for the issuance of new investment units and secondary offering of investment units as well as amendments thereto (if any) prepared by MFLP-REIT, and note that the investment decisions are made at their discretion and responsibility.

In addition, this document does not constitute an offer of securities in the U.S. The securities referred to above have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The securities referred to above may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. The securities referred to above will not be publicly offered or sold in the United States.

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