Nomura Real Estate Master Fund : Notice Concerning Reception of 2021 Climate Change Action Environment Minister’s Commendation

[For Translation Purposes Only]

December 13, 2021

For Immediate Release

To Whom It May Concern

Nomura Real Estate Master Fund, Inc.

Securities Code: 3462

Shuhei Yoshida, Executive Director

Asset Management Company:

Nomura Real Estate Asset Management Co., Ltd.

Koki Miura, President & Chief Executive Officer

Inquiries:

Hiroshi Ishigooka

Executive Officer

Head of NMF Investment Management Group

TEL. [phone]

Notice Concerning Reception of 2021 Climate Change Action Environment Minister's

Commendation

Nomura Real Estate Master Fund, Inc. ("NMF" or the "Fund") announces that Nomura Real Estate Asset Management Co., Ltd. (the "Asset Management Company"), to which NMF entrusts the management of its assets, has received the 2021 Climate Change Action Environment Minister's Commendation (Dissemination/Promotion category), sponsored by the Ministry of the Environment, in recognition of NMF's ongoing efforts for "mitigation" and "adaptation" in the area of climate change.

1. Award Details

2021 Climate Change Action Environment Minister's Commendation (Dissemination/Promotion category)

(Group photo)

(Award ceremony)

Left: Yutaka Shoda, Vice-Minister for Global Environmental Affairs

Right: Koki Miura, President & Chief Executive Officer

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Please refer to the following website concerning ESG initiatives by

2. Overview of the Climate Change Action Environment Minister's Commendation

The Climate Change Action Environment Minister's Commendation is a commendation presented by the Ministry of the Environment to individuals and organizations that have made outstanding achievements to addressing climate change. The ministry launched the Environment Minister's Commendation for Global Warming Prevention Activities in 1998 as part of its global warming countermeasures, but in consideration of factors such as recent trends in climate change countermeasures in society, the commendation was updated in 2020 to the Climate Change Action Environment Minister's Commendation.

For more details on the commendation, please refer to the following website.

• Ministry of the Environment:https://www.env.go.jp/press/110178.html
• Climate Change Action Environment Minister's Commendation: https://www.env.go.jp/earth/ondanka/min_action_award/index.html

3. Future Outlook

NMF and the Asset Management Company will continue to carry out asset management that gives due consideration to ESG (environmental, social and governance) issues, including "mitigation" and "adaptation" in the area of climate change.

NMF and the Asset Management Company.

NMF's ESG initiatives:https://www.nre-mf.co.jp/en/esg/index.html

The Asset Management Company's ESG initiatives: https://www.nre-am.co.jp/english/sustainability/

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