We would like to express our sincere gratitude for your support and patronage of United Urban Investment Corporation ("United Urban").

On January 20, 2026, United Urban announced the financial results for the 44th fiscal period ended November 30, 2025.

Under our investment policy as a diversified J-REIT, in this fiscal period, United Urban acquired three properties, comprising two hotels and one health care facility (total acquisition price: 14,364 million yen). In addition, we sold three properties comprising two retail facilities and one logistics facility (total sale price: 10,760 million yen) by comprehensively assessing the real estate sales market and the profitability of our properties, etc. As a result, we achieved further qualitative improvement, such as improving the profitability of our portfolio and replacing some older properties. Moreover, in order to achieve further growth through external growth and increasing unitholder returns, United Urban decided on a public offering on November 17, 2025, and as a result, we were able to raise approximately 23.3 billion yen. In conjunction with the public offering, as part of sponsor support, the sponsor group company has acquired additional investment units (approximately 1.2 billion yen, 6,910 units).

Despite the continuing instability in the international situation and uncertainty in domestic and international politics and economies, even after the Bank of Japan's additional interest rate hike, the Japanese economy remained on a moderate recovery trend due to improved income conditions from corporate wage increases and growing numbers of inbound visitors boosted by the weak yen, with real estate rental demand also remaining steady.

Under these circumstances, United Urban implemented measures to improve profitability in each type of use and field, then posted operating revenues of 28,180 million yen (an increase of 800 million yen over the previous fiscal period) and net income of 12,287 million yen (an increase of 452 million yen over the previous fiscal period). As a result, the cash distribution per unit for the 44th fiscal period reached 4,142 yen (an increase of 132 yen over the previous fiscal period).

With a continuous focus on improving the quality of our portfolio through asset replacement in order to achieve sustainable growth and improve unitholder value, United Urban has decided to acquire four properties, comprising two retail facilities and two industrial facilities (total acquisition price: 38,290 million yen), and to sell one retail facility and one residential property (total sale price: 46,562 million yen).

Your continuing support and kind attention are highly appreciated.

January 2026