FOR IMMEDIATE RELEASEHitachi and Frasers PropertysignS$100 million MOUto drive digital transformation inthereal estate industryin Asia Pacific

HitachiAsia Ltd.(“HitachiAsia”)and Frasers Property Limited(“Frasers Property”, and together with its group entities, the “Frasers Property Group”),announced todaythatHitachi Asia and Frasers Property, through its subsidiary,have signed a memorandum of understanding (MOU) involving an investmentofup toS$50 millioneachtocollaborate and drive digital transformation in the real estate industryin Asia Pacificover the next five years. The size of the addressable market for Asia Pacific, excluding Japan and China, is estimated to reach US$82 billion by 2025.