Capitalization & Major Unitholders

As of February 4, 2025

The total number of investment units authorized and the total number of investment units issued and outstanding of Tokaido REIT are as follows:

Unitholders’ capital	32,130 million yen
Total number of investment units authorized	10,000,000 units
Total number of investment units issued and outstanding	316,883 units

Changes in unitholders’ capital and the total number of investment units issued and outstanding since the incorporation of Tokaido REIT are as follows:

Date	Description	Unitholders’ capital (thousand yen)		Total number of investment units issued and outstanding (units)
		Increase (Decrease)	Balance	Increase (Decrease)	Balance
Feb. 1, 2021	Incorporation through private placement (Note 1)	200,000	200,000	2,000	2,000
Mar. 29, 2021	Capital increase through private placement (Note 2)	1,194,000	1,394,000	11,940	13,940
Jun. 21, 2021	Capital increase through public offering	15,634,560	17,028,560	162,860	176,800
Feb. 1, 2023	Capital increase through public offering	7,197,960	24,226,520	65,700	242,500
Feb. 1, 2024	Capital increase through public offering	4,197,894	28,424,415	35,900	278,400
Feb. 3, 2025	Capital increase through public offering	3,706,066	32,130,481	38,483	316,883

• Tokaido REIT was incorporated on February 1, 2021. The party that was offered to subscribe for investment units at the time of founding was Yoshicon Co., Ltd.
• Tokaido REIT implemented a capital increase through private placement to Yoshicon Co., Ltd. on March 29, 2021.