Ki Star Real Estate : ［Delayed］ Notice Concerning the Election of Candidates for Directors

May 24, 2021

To whom it may concern:

Company name: KI-STAR REAL ESTATE CO., LTD. Representative: Keiji Hanawa, President and CEO

(Securities code: 3465;

Tokyo Stock Exchange, First Section) Contact: Osamu Matsuzawa, Executive Officer,

General Manager of Administration Division

(Tel: [phone])

Notice Concerning the Election of Candidates for Directors

KI-STAR REAL ESTATE CO., LTD. ("the Company") hereby announces that it has determined, at a meeting of the Board of Directors held today, the following candidates for Directors and resolved to submit a proposal on their election to the 31st Annual General Meeting of Shareholders to be held on June 25, 2021. Regarding the election of Directors, they are scheduled to be appointed officially upon a resolution at the Annual General Meeting of Shareholders.

1. Election of Directors

Nine (9) Directors currently in office will complete their terms of office at the conclusion of the 31st Annual General Meeting of Shareholders.

Accordingly, the Company will submit a proposal on the election of ten (10) candidates for Directors, increasing the number of candidates by two (2).

(1) Candidates for Directors (reappointments)

Name	Primary responsibilities/new titles	Current titles
Keiji Hanawa	President and CEO	President and CEO
Yuichi Takiguchi	Director and Senior Managing Executive	Senior Managing Director
Officer
Mamoru Sonobe	Director and Managing Executive Officer	Managing Director
Makoto Matsukura	Director and Managing Executive Officer	Managing Director
Masanori Asami	Director and Managing Executive Officer	Director
Yoichi Tsuchiya	Director and Executive Officer	Director
Emi Masugi	Director and Executive Officer	Director
Hiroshi Matsuzawa	Outside Director	Outside Director

1. • Mr. Hiroshi Matsuzawa is a candidate for Outside Director. He satisfies the requirements for independent directors as stipulated by the Tokyo Stock Exchange. The Company plans to register him as an independent director with the Tokyo Stock Exchange.
2. Candidates for Directors (new appointments)

Name	Primary responsibilities/new titles	Current titles
Kazuhiko Abe	Outside Director	Special Advisor
Takeshi Hanai	Outside Director	Special Advisor

• Mr. Kazuhiko Abe and Mr. Takeshi Hanai are candidates for Outside Directors. They satisfy the requirements for independent directors as stipulated by the Tokyo Stock Exchange. The Company plans to register them as independent directors with the Tokyo Stock Exchange.