Pursuant to its Articles of Incorporation, HEIWA REAL ESTATE REIT, Inc. ("the Investment Corporation") raises funds from investors, investing said funds primarily in real estate, working toward growth for managed assets and stable medium- to long-term profits.

The Investment Corporation and HEIWA REAL ESTATE Asset Management CO., LTD. ("the Asset Management Company") entered into an agreement on October 1, 2010 to modify the original Asset Management Agreement signed on February 7, 2002. As an asset management company as provided under Article 198.1 of the Investment Trust and Investment Corporation Act of Japan ("Investment Trust Act"), the Asset Management Company performs asset management services according to the aforementioned Asset Management Agreement and in compliance with the Articles of Incorporation and asset management policies set forth therein.

The Investment Corporation and Mizuho Trust & Banking Co., Ltd. ("the Asset Custodian") entered into an agreement on October 28, 2004 to modify the original Asset Custody Agreement signed on May 31, 2004. The parties signed another modification agreement on June 1, 2007. As an asset custody company as provided under Article 208.1 of the Investment Trust Act, the Asset Custody Company performs custodian services for assets owned by the Investment Corporation under the terms of the aforementioned Asset Custody Agreement.

The Investment Corporation and Mizuho Trust & Banking Co., Ltd. ("the Investors' Registry Administrator") entered into a General Services Agreement ("Agreement") related to the Investors' Registry on May 31, 2004. The two parties signed a modification of the Agreement on December 26, 2008. As a general services provider under the provisions of the Investment Trust Act (Article 117.2, 117.3 excluding administrative duties related to investment corporation bonds; Investment Trust Act Article 117.6; Investment Trust and Investment Corporation Act Enforcement Regulations (Prime Minister's Office Ordinance No. 129, 2000; including subsequent revisions) Article 169.2 (1) and (3)), the Investors' Registry Administrator provides administrative services under the terms of the aforementioned Agreement, including:

　１.Creation and maintenance of the Investors' Registry
　２.Issuance of investment unit certificates
　３.Payment of distributions to investment unitholders
　４.Receipt of investment unitholder notifications, including requests
　　related to the exercise of voting rights.

The Investment Corporation and Mizuho Trust & Banking Co., Ltd. ("the Special Account Administrator") entered into a General Services Agreement ("Agreement") related to Special Account Administration on December 26, 2008. As a general services provider under the provisions of the Investment Trust Act (Article 117.2; excluding administrative duties related to investment trust corporation bonds), the Special Account Administrator provides administrative services under the terms of the aforementioned Agreement, including the following

　１.Creation, administration and custody of transfer account register and
　　 related registries
　２.Transfer procedures
　３.Establishment of special accounts upon the request of investment
　　 unit purchases
　４.General Investors' Meeting reports
　５.Respond to requests for individual investment unitholder notifications
　　 from subscribers
　６.Respond to information disclosure requests from subscribers or
　　 interested parties and other transfer administration

The Investment Corporation and Mitsubishi UFJ Trust and Banking Corporation ("MUFJ") entered into a General Services Agreement ("Agreement") related to institutional management on November 9, 2004. As a general services provider under the provisions of the Investment Trust Act (Article 117.4), MUFJ provides the Investment Corporation with institutional management services (General Investors' Meeting and Board of Directors) based on the provisions of the aforementioned Agreement.

The Investment Corporation and Ernst & Young Tax Co., Ltd ("EY") entered into a General Services Agreement ("Agreement") related to accounting services on August 28, 2020. As a general services provider under the provisions of the Investment Trust Act (Article 117.5, 117.6; Investment Trust and Investment Corporation Enforcement Regulations Article 169.2 (6) and (7)), EY provides the Investment Corporation with the following services under the terms of the aforementioned Agreement:

　１.Financial calculations
　２.Creation of accounting records
　３.Tax payments

he Investment Corporation and Resona Bank, Limited ("Resona") entered into a General Services Agreement ("Agreement") related to the 1st and 2nd unsecured investment corporation bonds (special pari passu conditions among specified investment corporation bonds) on June 23, 2017, the 3rd unsecured investment corporation bond (special pari passu conditions among specified investment corporation bonds) on April 26, 2018, the 4th and 5th unsecured investment corporation bonds (special pari passu conditions among specified investment corporation bonds) on May 29, 2019. As a general services provider under the provisions of the Investment Trust Act (Article 117.2, 117.3 excluding administrative duties related to investment equity; Investment Trust Act Article 117.6; Investment Trust and Investment Corporation Act Enforcement Regulations Article 169.2 (4) and (5)), Resona provides administrative services under the terms of the aforementioned Agreement, including:

　１.Creation and maintenance of the investment corporation bond
　　 register and other administrative processes involving the investment
　　 corporation bond register
　２.Issuance of investment corporation bond certificates
　３.Payment of interest or redemption amount to investment corporation's
　　 bondholders
　４.Receipt of investment corporation's bondholder notifications,
　　 including requests related to the exercise of voting rights.

The Asset Management Company and HEIWA REAL ESTATE CO., LTD. ("HEIWA") signed a letter of agreement ("Letter") for a cooperative business alliance on October 1, 2010. Under the terms of the Letter, HEIWA provides the Asset Management Company with the following services:

　１.Information related to properties owned/developed by HEIWA;
　　 information gathered as an agent; warehouse functions
　２.Property management contract services for HEIWA and HEIWA
　　 Service Co., Ltd.
　３.Support (investment, financial policies, capital acquisition, leasing,
　　 asset management)
　４.Temporary assignment of HEIWA personnel