Cash Distributions

Cash Distribution Declared

Cash Distribution Declared: 44th Fiscal Period Ended November 30, 2025; ¥4,142 per unit

The asset management period for the 44th fiscal period commenced June 1, 2025 and carried through to November 30, 2025.
Unitholders of record as of November 30, 2025 are eligible for receipt of cash distributions. Furthermore, the last trading day for investment units with rights on the Tokyo Stock Exchange was November 26, 2025.
The scheduled commencement date for the payment of cash distributions is February 13, 2026.

Cash Distribution Forecast: 45th Fiscal Period Ending May 31, 2026; ¥4,550 per unit

The asset management period for the 45th fiscal period commenced on December 1, 2025 and carries through to May 31, 2026.
The aforementioned forecast is underpinned by certain assumptions based on information available to United Urban and the Asset Management Company as of January 20, 2026. Accordingly, the actual cash distribution may differ from the forecast cash distribution due to the future acquisition and sale of investment assets, changes in the real estate market and other conditions confronting United Urban.
United Urban does not guarantee payment of the forecast cash distribution per unit. United Urban undertakes to revise its cash distribution forecast in the event of significant changes in operating conditions.
Unitholders of record as of May 31, 2026 are eligible for receipt of cash distributions. Furthermore, the last trading day for investment units with rights on the Tokyo Stock Exchange is scheduled for May 27, 2026.

Cash Distribution Forecast: 46th Fiscal Period Ending November 30, 2026; ¥4,600 per unit

The asset management period for the 46th fiscal period commences on June 1, 2026 and carries through to November 30, 2026.
The aforementioned forecast is underpinned by certain assumptions based on information available to United Urban and the Asset Management Company as of January 20, 2026. Accordingly, the actual cash distribution may differ from the forecast cash distribution due to the future acquisition and sale of investment assets, changes in the real estate market and other conditions confronting United Urban.
United Urban does not guarantee payment of the forecast cash distribution per unit. United Urban undertakes to revise its cash distribution forecast in the event of significant changes in operating conditions.
Unitholders of record as of November 30, 2026 are eligible for receipt of cash distributions. Furthermore, the last trading day for investment units with rights on the Tokyo Stock Exchange is scheduled for November 26, 2026.

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(Yen)

(Note)	United Urban split its investment unit into six units on December 1, 2010. The cash distributions after the fifteenth fiscal period (including forecasts) are the numerical values after the split of investment units.