July-December 2017 (33rd Period) Investor Presentation

from the beginning

July-December 2017 (33rd Period) Investor Presentation

• CONTENTS(Slide only)

1. Financial Highlights

• 1-1 Financial Highlights (1/3)

• 1-1 Financial Highlights (2/3)

• 1-1 Financial Highlights (3/3)

2. Financial Results

• 2-1 2H/2017 (33rd Period) Statement of Income

• 2-2 2H/2017 (33rd Period) Balance Sheet

3. Operating Results & Outlook

• 3-1 External Growth (1/6)

• 3-1 External Growth (2/6) Property Replacement Effect 1

@

@

@

• 3-1 External Growth (3/6) Properties Replacement Effect 2

• 3-1 External Growth (4/6) Property Replacement Effect 3

• 3-1 External Growth (5/6) Planned Property Acquisition 1

• 3-1 External Growth (6/6) Planned Property Acquisition 2

• 3-2 Internal Growth (1/2)

• 3-2 Internal Growth (2/2)

@

• 3-3 Finance (1/2)

• 3-3 Finance (2/2)

• 3-4 Appraisal Value Assessment

4. Forecast

• 4-1 1H/2018 (34th Period) Forecast

• (Reference) Performance Forecast

5. Market Data

• 5-1 Trends in the Office Building Leasing Market (1/2)

• 5-1 Trends in the Office Building Leasing Market (2/2)

• 5-2 Trends in the Real Estate Trading Market

• 5-3 NBF Unit Price, TSE REIT Index&10-Year Japanese Government Bond Yields

6. NBF's Competitive Advantages

• 6-1 J-REIT with the Longest Track Record (1/2)

• 6-1 J-REIT with the Longest Track Record (2/2)

• 6-2 The Largest J-REIT in Size

• 6-3 A Portfolio Focused on Tokyo

• 6-4 Collaboration with Sponsor (Mitsui Fudosan Group) (1/3) Pipeline

• 6-4 Collaboration with Sponsor (Mitsui Fudosan Group) (2/3) Leasing

• 6-4 Collaboration with Sponsor (Mitsui Fudosan Group) (3/3) Property Management

• 6-5 Stable Financial Management

7. ESG Initiatives

• 7-1 ESG Initiative Policy

• 7-2 Environment Initiatives(1/2)

• 7-2 Environment Initiatives (2/2)

• 7-3 Social Initiatives

• 7-4 Governance Initiatives

8. Appendix

• 1 Top 10 Tenants (Leased Floor Space Basis) /Tenants by Industry

• 2 Floor Space of Tenants Moving in and out by Property (2H / 2017)

• 3 Property Age

• 4 Financial Management

• 5 Lenders & Borrowings

• 6 Overview of Unit Ownership

• 7 Historical Summary of Main Management Indicators and Other Data

• 8 Property Portfolio Overview (1/2) - 23 Wards of Tokyo

• 8 Property Portfolio Overview (2/2) - Other Greater Tokyo & Other Cities

• 9 Appraisal Value (1/3) - 23 Wards of Tokyo

• 9 Appraisal Value (2/3) - 23 Wards of Tokyo

• 9 Appraisal Value (3/3) - Other Greater Tokyo & Other Cities

• 10 Revenue by Property (1/3) - 23 Wards of Tokyo

• 10 Revenue by Property (2/3) - 23 Wards of Tokyo & Other Greater Tokyo

• 10 Revenue by Property (3/3) - Other Cities

• 11 Portfolio Map

• 12 Properties (1/4) - 23 Wards of Tokyo

• 12 Properties (2/4) - 23 Wards of Tokyo

• 12 Properties (3/4) - 23 Wards of Tokyo & Other Greater Tokyo

• 12 Properties (4/4) - Other Cities

• Disclaimer