Performance Review for Fiscal Period Ended 31 March 2021（Teleconference)

from the beginning

Performance Review

• agenda(Slide only)

1. Highlights

• DPU Summary

• Mar. 2021 Period Operating Highlights(Slide only)

• Current Situation and Future Outlook

• Replacement of Portfolio Properties and Return of Internal Reserves

2. Financial Results and Forecasts

• Mar. 2021 Period Financial Results

• Balance Sheets as of 31 Mar. 2021

• Performance Forecasts for Sep. 2021 Period and Mar. 2022 Period

• Factors of Change in DPU(Slide only)

3. Internal Growth

• Trends in Occupancy Rate and Tenant Turnover Rate

• Overview of Rent Revisions

• Net Increase in Monthly Contract Rent (excluding rent for residential portions)(Slide only)

• Trend in Net Change in Monthly Contract Rent Due to Internal Growth(Slide only)

• Trends in Market Rent and Rent Gap

• Growth Through Enhanced Asset Value(Slide only)

4. Financial Strategy

• Debt Summary (1)(Slide only)

• Debt Summary (2)(Slide only)

5. Portfolio Overview

• Asset Size Trends(Slide only)

• Building Age and Diversification(Slide only)

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

6. ESG

• ESG‐related Topics (1)

• ESG‐related Topics (2)

• Response to Coronavirus Pandemic(Slide only)

• International Initiatives(Slide only)

• External Evaluation and Certifications on ESG Initiatives(Slide only)

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7. Appendix

• Selected Financial Indexes in the Last 5 Periods

• JRE's Achievements Since Listing (1)

• JRE's Achievements Since Listing (2)

• JRE's Achievements Since Listing (3)

• Breakdown of Expenses, Construction Costs and Capital Expenditures

• Management Policy

• Track Record of Property Acquisitions and Dispositions

• Trends in Portfolio Average Rent

• Trends in Market Rent Levels (1)

• Trends in Market Rent Levels (2)

• LTV Trends and Debt Financing Balance by Financial Institution

• Overview of Interest‐bearing Debt

• Unitholder Data

• Major Tenants

• Newly Leased & Vacated Office Spaces by Property

• Occupancy Rate by Property (1)

• Occupancy Rate by Property (2)

• Performance by Property (1)

• Performance by Property (2)

• Details of Appraisal Values (1)

• Details of Appraisal Values (2)

• Trends in Property Appraisal Values

• Portfolio Map

• List of Properties / PML

• List of Properties / PML

• List of Properties / PML

• List of Properties / PML

• List of Properties / PML

• Climate Change Initiatives

• Social Responsibility

• Governance (1)

• Governance (2)

• Outline of Japan Real Estate Investment Corporation

• Structure and Past Record of Fees

• Unit Price Performance

• Yield Spread Trends / Market Capitalization

• Terminology Used in this Document

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