Amendment) Notice Regarding Partial Amendment to “Announcement on the Expression of Support and Neutrality Regarding the Tender Offer for Investment Units of SANKEI REAL ESTATE Inc. (Securities Code: 2972) by City Index Fifth Co., Ltd.”

Overview of the Matter

The investment corporation has announced a change to its previously expressed opinion regarding the tender offer. The bidder is City Index Fifth, and following the initiation of the TOB aimed at privatizing the investment units, consideration of competing proposals is underway. The issuer has newly received a letter of intent from Company A indicating consideration of a competing tender offer, suggesting possible proposals exceeding the tender offer price and the commencement of due diligence. A formal proposal is expected to be submitted no earlier than late November.

Impact on Unitholders and Outlook

Depending on whether a competing proposal is made and on its terms, the exit value for unitholders may fluctuate. At present, a tender offer based on 125,000 yen/unit has been proposed, and Company A plans to proceed with due diligence and financing. To ensure fairness, governance measures such as the special committee and approval processes by directors without conflicts of interest are expected to be disclosed as the situation develops.