Performance Review for Fiscal Period Ended 30 September 2019

from the beginning

Performance Review for Fiscal Period Ended 30 September 2019

• index(Slide only)

1 Financial Highlights

• DPU Summary

• Operating Highlights

2 Financial Results and Forecasts

• Financial Results for Sep. 2019 period

• Financial Forecasts for Mar. 2020 period and Sep. 2020 period

• Balance Sheets as of 30 Sep. 2019(Slide only)

3 External Growth

• Disposed Property

• （Reference）Completion of LINK SQUARE SHINJUKU

4 Internal Growth

• Trends in Occupancy Rates and Turnover Rates

• Overview of Rent Revisions

• Net Increase of Monthly Contract Rent

• Trend of Net Change of Monthly Contract Rent due to Internal Growth(Slide only)

• Trends in Market Rent and Rent Gap

5 Financial Strategy

• Summary of Debts (1)

• Summary of Debts (2)

6 Portfolio Overview

• Historical Asset Size(Slide only)

• Building Age and Diversification(Slide only)

• Trends of Appraisal Value, Unrealized Gain and NAV per unit

7 ESG

• International Initiatives(Slide only)

• External Evaluation and Certifications

• Sustainability Certification(Slide only)

• Environmental Measures(Slide only)

• Social Responsibility (1)(Slide only)

• Social Responsibility (2)(Slide only)

• Social Responsibility (3)(Slide only)

• Governance (1)(Slide only)

• Governance (2)(Slide only)

• Governance (3)(Slide only)

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8 Appendix

• Historical Summary of Selected Financial Index in the Previous 5 Periods

• JRE’s Achievement after IPO (1)

• JRE’s Achievement after IPO (2)

• JRE’s Achievement after IPO (3)

• Breakdown of Expenses, Construction Costs and Capital Expenditure

• Management Principles

• Performance of Property Acquisitions and Dispositions

• Changes in Portfolio Average Rent

• Trends of Market Rent Level (Tokyo 23 Wards)

• Trends of Market Rent Level (Other Areas)

• Trends of LTV and Outstanding Borrowings by Financial Institution

• Overview of Interest‐bearing Debt

• Unitholder Data

• Major tenants

• Newly Rented & Returned Office Area of Each Property

• Occupancy Rate by Building (1)

• Occupancy Rate by Building (2)

• Performance of Each Property (1)

• Performance of Each Property (2)

• Details of Appraisal Values (1)

• Details of Appraisal Values (2)

• Trends of Property Appraisal Values

• Portfolio Map

• List of Properties / PML (1)

• List of Properties / PML (2)

• List of Properties / PML (3)

• List of Properties / PML (4)

• List of Properties / PML (5)

• Outline of Japan Real Estate Investment Corporation

• Structure and Past Record of Fees

• Unit Price Performance

• Yield Spread Comparison / Market Capitalization

• Terms Used in this Report

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