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 financial results, operating performance and initiatives contributing to the future growth of FRC for the 44th fiscal period (March 1, 2026 to August 31, 2026).

Operating revenue for the period was 10,898 million yen, operating income was 4,463 million yen, ordinary income was 3,932 million yen, and profit was 3,931 million yen. In addition, by applying the "Tax Benefits for Specific Asset Replacement Transactions", FRC retained 391 million yen as internal reserves, resulting in a distribution per unit of 4,075 yen. This represents an increase of 75 yen from the forecast distribution per unit of 4,000 yen announced at the beginning of the period.

Regarding internal growth, rental business income from our flagship property Canal City Hakata increased by 9.8% compared to the forecast, and other commercial facilities also achieved growth exceeding expectations through tenant replacements and rent revisions, among other factors. In addition, through ongoing rent increase negotiations, FRC achieved rent increase rates of 5.5% for office buildings and 15.4% for residential properties.

Regarding external growth, in pursuit of growth in the next fiscal period and beyond, FRC decided on an asset replacement on October 20, 2026, concurrently with its financial results announcement, with the aim of enhancing portfolio quality and unitholder returns. FRC will acquire a quasi-co-ownership interest in the trust beneficiary interest in the logistics facility LOGICITY Koga and silent partnership equity interests in the retail property TORIUS, while disposing of the office property Kumamoto East Front Building following a comprehensive assessment of property age, growth potential, capital efficiency and other factors. Through this asset replacement, FRC aims to secure future acquisition opportunities, strengthen its earnings base and rejuvenate its portfolio.

As part of our Sustainability Initiatives, one of FRC's key measures, we are committed to "maintaining and improving building performance and environmental performance" under the E (Environment) category and have obtained a 4-Star rating and Green Star designation in the GRESB Real Estate Assessment for our properties. In addition, we have advanced environmental and social considerations at our properties, and the DBJ Green Building Certification for the Hakata FD Business Center was upgraded to 4 Stars. We will continue to actively collaborate with local communities and communicate information to our unitholders through the publication of integrated reports and other means.

As a "region-specific REIT," FRC will strive for sound asset management while responding swiftly to market changes, in collaboration with leading sponsors, including Fukuoka Jisho Co., Ltd., a representative developer in Kyushu. 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”. Furthermore, along with our mission to "create value and growth from Fukuoka through leveraging real estate finance", we aim to expand our earnings base and asset size by connecting Fukuoka with the world and creating a sustainable future for real estate.

We greatly appreciate your continued support and cooperation.

October 20, 2026