Frontier Real Estate Investment : Notice Concerning the Results of GRESB Survey：“Green Star” and “5 Stars” in GRESB Rating

September 7, 2017

6-8-7 Ginza, Chuo-ku, Tokyo Frontier Real Estate Investment Corporation Kazuichi Nagata, Executive Director

(Securities Code: 8964)

Asset Management Company: Mitsui Fudosan Frontier REIT Management Inc.

Goro Toyama Chief Executive Officer and Representative Director

Inquiries: Mitsui Fudosan Frontier REIT Management Inc.

Takashi Iwamoto Chief Finance Officer and Director

Tel: +81-3-3289-0440

Frontier Real Estate Investment Corporation (the "Investment Corporation") hereby announces that the Investment Corporation received a "Green Star" rating and an assessment rank of "5 Stars", the highest ranking among the certification levels of "GRESB Rating", for the second consecutive year.

1. About GRESB survey

   Global Real Estate Sustainability Benchmark (GRESB) is an annual benchmark survey established primarily by major European pension funds groups, which lead the United National Principles for Responsible Investment, in 2009 that measures environmental, social, and governance (ESG) consideration in the real estate sector. Over 60 companies of investor members (Total assets under management of approx. JPY1,700 trillion (USD17trillion assuming USD1=JPY100)) have joined the survey and used GRESB to select and dialogue with investment targets. In 2017, 850 real estate companies and funds worldwide in the benchmark survey conducted by the GRESB.

2. "Green Star" and "5 Stars" Rating

   The Investment Corporation received a "Green Star" rating for its efforts for improving sustainability performance "Implementation & Measurement" by certification of buildings and risks and so on.

   In the survey results, the Investment Corporation was ranked 2nd in the listed Retail sector in East Asia region. Furthermore, the Investment Corporation received an assessment rank of "5 Stars", the highest ranking among the certification levels of "GRESB Rating", a five-grade relative evaluation of the overall GRESB score.

   GRESB website: http://gresb.com/

3. The Investment Corporation's initiatives going forward

In keeping with the sustainability policy established by Mitsui Fudosan Frontier REIT Management Inc., the Investment Corporation will take measures in collaboration with the asset management company in an aim to contribute to the coexistence of social/economic development and preservation of the global environment.

Please refer to the following website for information on the Investment Corporation's social and environmental initiatives.

Investment Corporation's website: http://www.frontier-reit.co.jp/eng/summary/csr/index.html.

This document is released to media organizations through the "Kabuto Club"(the press club of the Tokyo Stock Exchange), the Ministry of Land, Infrastructure and Transport Press Club, and the Press Club for the Ministry of Land, Infrastructure and Transport Construction Paper.

Frontier Real Estate Investment website: http://www.frontier-reit.co.jp/eng/

Disclaimer

This information was originally publicized in the original Japanese language and has been translated for reference purposes only. Frontier Real Estate Investment Corporation guarantees neither the completeness nor the accuracy of this English translation. For complete and accurate information, please refer to the press release in Japanese. In addition, this press release is not prepared as an inducement or invitation for investment. All readers are advised to consult their own investment advisors before investing in the Investment Corporation. Investment decisions are made at the investor's sole discretion and responsibility and are made at their own risk. The Investment Corporation and its affiliates disclaim any responsibility or liability for the consequence of investment in the Investment Corporation.