The total unitholders' capital, the total number of investment units that Activia Properties Inc. is authorized to issue, and the total number of investment units.

Total unitholders' capital	258,964,065 (thousands of yen)
Issuable investment units	4,000,000 units
Investment units issued	792,106 units

The table below shows changes in unitholders' capital and the number of investment units issued after Activia Properties Inc. was established.

Date	Remarks	Total unitholders' capital (thousands of yen)		Number of investment units issued
		Change	Total	Change	Total
Sep. 7, 2011	Private placement establishment	200,000	200,000	400	400
Jun. 12, 2012	Public offer capital increase	90,834,705	91,034,705	204,100	204,500
Jul. 10, 2012	Third-party allotment	339,128	91,373,833	762	205,262
Dec. 16, 2013	Public offer capital increase	32,636,569	124,010,403	43,100	248,362
Jan. 15, 2014	Third-party allotment	2,044,518	126,054,921	2,700	251,062
Dec. 17, 2014	Public offer capital increase	22,800,626	148,855,547	24,050	275,112
Jan. 8, 2015	Third-party allotment	1,915,063	150,770,610	2,020	277,132
Oct. 1, 2015	Split	-	150,770,610	277,132	554,264
Dec. 15, 2015	Public offer capital increase	19,152,091	169,922,702	41,870	596,134
Jan. 6, 2016	Third-party allotment	1,610,111	171,532,813	3,520	599,654
Dec. 1, 2016	Public offer capital increase	28,583,994	200,116,808	61,040	660,694
Dec. 15, 2016	Third-party allotment	2,116,639	202,233,447	4,520	665,214
Dec. 13, 2017	Public offer capital increase	13,793,296	216,026,743	31,090	696,304
Dec. 26, 2017	Third-party allotment	1,064,776	217,091,520	2,400	698,704
Dec. 19, 2018	Public offer capital increase	29,036,462	246,127,982	67,320	766,024
Jan. 7, 2019	Third-party allotment	2,242,864	248,370,846	5,200	771,224
Sep. 7, 2021	Public offer capital increase	21,496,615	269,867,461	49,030	820,254
Sep. 28, 2021	Third-party allotment	1,096,095	270,963,556	2,500	822,754
May 13, 2022	Cancellation of Own Investment Units	-3,999,657	266,963,899	-10,190	812,564
May 12, 2023	Cancellation of Own Investment Units	-1,999,983	264,963,916	-5,118	807,446
May 10, 2024	Cancellation of Own Investment Units	-5,999,850	258,964,065	-15,340	792,106

(Note)	Activia Properties Inc. was established on September 7, 2011. Tokyu Land Corporation applied for subscriptions for investment units when the investment corporation was established.

Investment Units by Unitholder Type

Unitholder type	Unitholder		Investment unit
	Number	Ratio (%)	Number	Ratio (%)
Individual, other	8,314	92.2	39,433	5.0
Financial institution	172	1.9	460,984	58.2
Other domestic company	229	2.5	101,091	12.8
Foreign institution, other	280	3.1	161,387	20.4
Securities company	21	0.2	29,211	3.7
Total	9,016	100.0	792,106	100.0

(Note)	The ratio is calculated by rounding to the first decimal place, therefore the total may not be 100% by adding numbers of each category.

Investment Units by Area

Area	Unitholder		Investment unit
	Number	Ratio (%)	Number	Ratio (%)
Hokkaido	137	1.5	2,965	0.4
Tohoku region	192	2.1	3,699	0.5
Kanto region	4,613	51.2	578,941	73.1
Chubu region	1,176	13.0	22,122	2.8
Kinki region	1,579	17.5	20,402	2.6
Chugoku region	329	3.6	6,130	0.8
Shikoku region	281	3.1	3,872	0.5
Kyushu and Okinawa regions	447	5.0	8,264	1.0
Foreign	262	2.9	145,711	18.4
Total	9,016	100.0	792,106	100.0

(Note)	The ratio is calculated by rounding to the first decimal place, therefore the total may not be 100% by adding numbers of each category.

Top 10 Unitholders

Name	Number of Investment Units Held (units)	Percentage of Units Issued and Outstanding (%)
Custody Bank of Japan, Ltd. (Trust account)	209,749	26.5
The Master Trust Bank of Japan, Ltd. (Trust account)	122,435	15.5
Tokyu Land Corporation	89,365	11.3
The Nomura Trust and Banking Co,. Ltd (Investment account)	35,742	4.5
THE NOMURA TRUST AND BANKING CO., LTD. AS THE TRUSTEE OF REPURCHASE AGREEMENT MOTHER FUND	15,400	1.9
BNYM AS AGT/CLTS 10 PERCENT	10,908	1.4
State Street Bank West Client Treaty 505234	10,728	1.4
State Street Bank And Trust Company 505103	10,280	1.3
LEGAL ＋ GENERAL ASSURANCE PENSIONS MANAGEMENT LIMITED	8,877	1.1
SMBC Nikko Securities Inc.	8,596	1.1

(Note 1)	For the ratio, the figures are rounded to first decimal place.