Performance Review for Fiscal Period Ended 31 March 2020

from the beginning

Performance Review for Fiscal Period Ended 31 March 2020

• index

1 Impact of COVID-19

• Response to Coronavirus Outbreak

• Impact of Coronavirus Outbreak

2 Financial Highlights

• Operating Highlights

• Shelf Registration of PO

• DPU Summary

3 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

• Trends in Market Rent and Rent Gap

4 External Growth

• Acquired Property (1)

• Acquired Property (2)

• Acquired Property (3)

• Acquired Property (4)

• Acquired Property (5)

• Disposed-of Property

5 Financial Results and Forecasts

• Financial Results for Mar. 2020 period

• Balance Sheets as of 31 Mar. 2020

• Impact of Coronavirus Outbreak Reflected in Forecasts

• Financial Forecasts for Sep. 2020 period and Mar. 2021 period (vs. Forecast revised on 25 March)

• Financial Forecasts for Sep. 2020 period and Mar. 2021 period

6 Financial Strategy

• Summary of Debts (1)

• Summary of Debts (2)

7 Portfolio Overview

• Historical Asset Size

• Building Age and Diversification

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

8 ESG

• Setting CO2 Reduction Targets and Environmental KPIs for 2030

• Climate Change Initiatives

• International Initiatives

• External Evaluation and Certifications

• Sustainability Certification

• Social Responsibility (1)

• Social Responsibility (2)

• Social Responsibility (3)

• Governance (1)

• Governance (2)

• Governance (3)

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9 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 (1)

• Trends of Market Rent Level (2)

• 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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