as of November 12, 2024

Credit Rating Agency	Rating Type	Remarks
Japan Credit Rating Agency, Ltd.	Long-term issuer rating : AA-	Rating outlook :Stable
Rating and Investment Information,Inc.	Issuer Rating :A+	Outlook :Stable

(Note)	The above rating is the issuer rating granted to NIPPON REIT, and not a rating granted to its investment units. Furthermore, the investment units have no credit rating that have been or will be granted or submitted for inspection by any rating agency at the request of NIPPON REIT.