ESR Fully Realises Investment in Kenedix

SINGAPORE, 2 October 2025 – ESR has fully realised its investment in Kenedix, Inc. (“Kenedix”) as part of its strategy to simplify the business and focus on its core strengths. SMFL MIRAI Partners Co.,Ltd., (“SMFL MIRAI Partners”) a wholly owned subsidiary of Sumitomo Mitsui Finance and Leasing Co., Ltd. (“SMFL”) has acquired ESR’s 30% stake in the Japanese real estate asset management company. SMFL Group now owns 100% of Kenedix. The transaction was agreed upon at terms that reflect the strong underlying value of Kenedix and its platform.

Stuart Gibson, Co-founder and Co-CEO of ESR, said, “We look forward to seeing the continued growth and success of the Kenedix business under the full ownership of SMFL Group. This transaction underscores the synergistic and long-standing relationship between ESR and the broader Sumitomo Mitsui Banking Corporation (“SMBC”) Group. It enables ESR to accelerate our strategic transformation by simplifying the business and recycling capital to drive value for our stakeholders.”

This transaction follows ESR’s successful sale of the ARA Private Funds business to SMFL MIRAI Partners and Kenedix in 2024. As strategic partners, ESR, SMBC, and SMFL continue to explore broader collaboration opportunities, including joint investment and financial partnerships in high-growth real estate sectors.