We would like to express our sincere appreciation to all unitholders for your continued support of Fukuoka REIT Corporation (FRC).

We are pleased to report on the performance results and management status of FRC for the 42nd fiscal period (March 1, 2025 – August 31, 2025).

For the fiscal period under review, operating revenues totaled 10,792 million yen, operating income to 4,526 million yen, ordinary income to 4,056 million yen, and profit to 4,055 million yen. By applying the "Tax Benefits for Specific Asset Replacement Transactions", a part of the internal reserve of 403 million yen was retained, resulting in a dividend per unit of 4,203 yen. This represents an increase of 103 yen compared with the forecast announced at the beginning of the fiscal period, which was a forecast of 4,100 yen per unit. Our dividends have achieved a record high for five consecutive periods.

Regarding internal growth, we negotiated rental increases associated with lease renewals and tenant replacements. As a result, the average rent increase was 8.7% for office buildings and 17.9% for residential properties compared with pre-revision levels.
At Canal City Hakata, one of our flagship properties, inbound visitors continued to drive foot traffic. Sales at the facility rose by 15.3% year-on-year, and revenue-linked variable rents also increased accordingly.

Regarding external growth (asset replacement), we will acquire silent partnership equity interests in two residential properties located in highly accessible areas of Nagasaki city—“ABAS CHIKUGOMACHI” and “ABAS KANAYAMACHI”—as properties held in trust in October 2025. As for property disposition, we completed the third partial disposition of the office building Tenjin North Front Building in August 2025.

One of the FRC's key 'Sustainability Initiatives' involves the ‘maintenance and improvement of building and environmental performance’, representing the "E" (Environmental) aspect. This has resulted in the ratio of properties certified as green buildings to the entire portfolio standing at 79.8%, against the 2030 goal of 85% or higher. As an external evaluation, we have obtained “4 Stars” and “Green Star” in the GRESB Real Estate Assessment. We will continue our endeavors to reduce CO2 emissions (35% reduction in CO2 emissions by 2030 compared with 2019). To achieve this, we will continue to collaborate with tenants, property management companies, and building maintenance companies while promoting environmental data collection and LED installation projects. We will also continue to proactively provide sustainability information to our unitholders through the issuance of integrated reports and other measures.

As a REIT specializing in regional properties, FRC continuously strives to maintain sound asset management while responding swiftly to market changes, with the support and cooperation from leading sponsors in the Kyushu business-economic community. We are resolved to make the utmost efforts to secure stable earnings over the medium to long term, and to continuously offer stable dividends per unit into the future based on our management philosophy of “Act Local, Think Global.”

We greatly appreciate your continued support and cooperation.

October 17, 2025