Notice of Revision to Operational Status and Distribution Forecast for the Fiscal Period Ending October 2026 and for the Fiscal Period Ending April 2027

Summary of Revisions

This report announces revisions to the operational status and distribution forecasts for the fiscal periods ending October 2026 and April 2027. A change in the operating structure related to Grand Prince Osaka Bay and assumptions regarding removal and return of leased land affected the underlying assumptions. As a result, distribution per unit for the October 2026 period is increased by 856 yen to 7,197 yen. For the April 2027 period, distribution per unit shows no change from the prior forecast; however, the treatment of distributions exceeding earnings has been adjusted for tax-related reasons, leading to partial changes in composition. Total assets and issued investment units are assumed to be 585,834 units.

Impact on Investors and Outlook

The primary cause of the revisions is changes in assumptions due to the operational restructuring. Rental income stability and rental composition of each property are expected under the assumed conditions. The treatment of distributions exceeding profits for the April 2027 period is affected by reversals of allowances for temporary differences and similar adjustments, based on the expected resolution of tax timing differences. Continued attention should be paid to real estate market trends and interest rate movements.