Results of 6th Fiscal Period ended May 31, 2019

from the beginning

Results of 6th Fiscal Period ended May 31, 2019

• Table of Contents

I. Investment Highlights

• Operating Results for the Entire Portfolio

• Increase/Decrease in Variable Rent

• Financial Status - Implementation of Refinancing

• Changes in Key Indices (1)

• Changes in Key Indices (2) - Tenants’ Operation Results

II. Financial Highlights

• Financial Results for the 6th Fiscal Period ended May 2019

• Forecast for the 7th Fiscal Period ending November 2019

• Forecast for the 8th Fiscal Period ending May 2020

• Major Factors for Increase/Decrease in DPU - Operation Focused on Stable Generation of Cash

III. Investment Results

• Portfolio Data (1)

• Portfolio Data (2)

• Operating Results of Individual Properties (1)

• Operating Results of Individual Properties (2)

IV. Ooedo Onsen Reit’s Investment Areas and Future Investment Strategies

• Uniqueness of Ooedo Onsen Reit’s Investing Targets

• Market Environment (1)

• Market Environment (2)

• External Growth Strategy (1)

• External Growth Strategy (2)

• External Growth Strategy (3)

• External Growth Strategy (4) ‐Future Leisure Market

• External Growth Strategy (5)

• Internal Growth Strategy (1)

• Internal Growth Strategy (2)

• Financial Strategy

V. Appendix

• Appraisal Value

• Introduction of Properties (1)

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• Introduction of Properties (2)

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• Introduction of Properties (3)

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• Introduction of Properties (4)

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• Introduction of Properties (5)

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• Financial Indices

• Balance Sheet

• Statement of Income

• Debt Status

• Ooedo-Onsen Monogatari Group (1)

• Ooedo-Onsen Monogatari Group (2)

• “Ooedo Business Model” with Stable Operations and Sustainable Growth (1)

• “Ooedo Business Model” with Stable Operations and Sustainable Growth (2)

• Unitholders Breakdown

• Unitholder Benefit Program

• Track Record of Investment Unit Price

• Governance Structure

• Overview of Investment Corporation

• Overview of Asset Manager

• Disclaimer

Q&A

• Q&A1

• Q&A2