Notice Regarding Changes to Tender Offer Conditions for Sankei Real Estate Investment Corporation (Securities Code: 2972) Investment Units by Tiger Investment Business Limited Partnership and Lion Investment Business Limited Partnership

Overview of Changes to Tender Offer Conditions

Tiger Investment Business Limited Partnership and Lion Investment Business Limited Partnership have extended the tender offer period for the investment units of Sankei Real Estate Investment Corporation, which began on January 7, 2026, until April 28, 2026, totaling 76 business days. The tender offer price remains unchanged at 125,000 yen. With the extension of the tender offer period, unitholders were expected to have the opportunity to receive both the dividend for the fiscal year ending February 2026 and the tender offer price. However, following the target corporation’s announcement on April 13, 2026, revising the dividend forecast to zero and disclosing an expected impairment loss of 4,933 million yen, a correction to the tender offer registration statement was submitted.

Operating Status of the Target Corporation and Revision of Dividend Forecast

Due to tenant changes at the Fukuoka Green Building and delays in renovation work, the target corporation expects significantly reduced revenues and profits for the fiscal year ending February 2027. For the fiscal year ending February 2026, the forecast has been revised to operating revenue of 2,882 million yen, operating loss of 3,323 million yen, ordinary loss of 3,564 million yen, net income attributable to owners of parent of 4,009 million yen, and 0 yen dividend (no dividend), representing a 2,773 yen decrease in the dividend from the previous forecast. As a result, no dividend is expected to be received during the tender offer period, although the tender offer price remains unchanged.