Results of the 22nd Fiscal Period ended July 31, 2017

from the beginning

Results of the 22nd Fiscal Period ended July 31, 2017

Presenter：

Mori Building Investment Management Co., Ltd.
President & CEO
Hideyuki Isobe

• Disclaimer (Slide only)

• Contents (Slide only)

1 Executive summary

2. Investment highlights

• 2-1 Unit price performance (Slide only)

• 2-2 Financial results

• 2-3 Overview of new acquisitions

• 2-4 Overview of new acquisitions

• 2-5 Overview of new acquisitions

• 2-6 Forecasts

• 2-7 Dividends per unit growth record

• 2-8 Increase in appraisal NAV per unit

• 2-9 Overview of portfolio (1) Location

• 2-10 Overview of portfolio (2) Earthquake-resistance capability

• 2-11 Overview of portfolio (3) Environmental performance

• 2-12 External growth

• 2-13 External growth

• 2-14 External growth

• 2-15 Internal growth

• 2-16 Internal growth

• 2-17 Financial management

• 2-18 Financial management

• 2-19 Competitive strength of Central Tokyo (Slide only)

• 2-20 Competitive strength of Central Tokyo (Slide only)

3. Operation highlights

• 3-1 Factors that led to changes in dividends per unit from the previous fiscal period (Slide only)

• 3-2 Change in assets under management (Slide only)

• 3-3 Change in unrealized capital gain/loss (Slide only)

• 3-4 Appraisal value (Slide only)

• 3-5 Changes in the rent and occupancy rates (Slide only)

• 3-6 Overview of fixed rent master lease properties (Slide only)

• 3-7 Tenant status by month and tenants with large leased space (Slide only)

• 3-8 Financial overview (Slide only)

• 3-9 Debt status (Slide only)

• 3-10 Unitholders breakdown (Slide only)

4. Business environment recognition & MHR's policy/strategy

• 4-1 Business environment recognition (Slide only)

• 4-2 MHR's policy/strategy (Slide only)

• 4-3 Market-related information (1) (Slide only)

• 4-4 Market-related information (2) (Slide only)

• 4-5 Market-related information (3) (Slide only)

• 4-6 Market-related information (4) (Slide only)

• 4-7 Market-related information (5) (Slide only)

• 4-8 Market-related information (6) (Slide only)

5. Appendix

• 5-1 Financial highlights (Slide only)

• 5-2 Balance sheet (Slide only)

• 5-3 Income statement (Slide only)

• 5-4 Statement of cash flows/Retained earnings (Slide only)

• 5-5 Status of income and expenditures (1) (Slide only)

• 5-6 Status of income and expenditures (2) (Slide only)

• 5-7 Status of income and expenditures (3) (Slide only)

• 5-8 Unit price performance since IPO (Slide only)

• 5-9 Investment criteria (Slide only)

• 5-10 Organization Structure (Slide only)

• 5-11 Portfolio Map (Slide only)

• 5-12 Portfolio overview (Slide only)

• 5-13 Portfolio overview (Note) (Slide only)

Q&A

• Q&A 1

• Q&A 2

• Q&A 3

• Q&A 4

• Q&A 5