2H 2023 (45th Period) Investor Presentation

from the beginning

2H 2023 (45th Period) Investor Presentation

• CONTENTS

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/2023 (45th Period) Income Statement (P/L)

• 2-2 2H/2023 (45th Period) Balance Sheet（B/S）

@memo

3. Investment Results and Outlook

• 3-1 Investment Policy

• 3-2 Most recent property replacement (announced after 2023)

• 3-2 External growth (properties to be acquired or disposed of) （1/2）

• 3-2 External growth (properties to be acquired or disposed of) （2/2）

• 3-3 Internal Growth（1/2）

• 3-4 Internal Growth（2/2）

• 3-5 Financial Performance

• 3-6 Continuing Appraisal

@memo

4. Forecast

• 4-1 1H/2024 (46th Period), 2H/2024 (47th Period)Forecasts

• (Reference)Business Outlook

• 4-2 Distribution Policy: Use of retained earnings and gains on transfers

5. About the Market

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

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

• 5-2 Real Estate Market Trends

• 5-3 NBF unit price, TSE REIT index, 10-year JGB interest rates

@memo

6. Superiority of NBF

• 6-1 Longest track record for J-REIT (1/2)

• 6-1 Longest track record for J-REIT (2/2)

• 6-2 Largest J-REIT

• 6-3 Tokyo-based portfolio

• 6-4 Use of Sponsor (Mitsui Fudosan Group) (1/4) Pipeline

• 6-4 Use of Sponsor (Mitsui Fudosan Group) (2/4) Portfolio

• 6-4 Use of Sponsor (Mitsui Fudosan Group) (3/4) Leasing

• 6-4 Use of Sponsor (Mitsui Fudosan Group) (4/4) Property Management

• 6-5 Solid financial management

7. ESG Initiatives

• 7-1 ESG Policy

• 7-2 KPI and ESG data

• 7-3 ESG data

• 7-4 Environment

• 7-5 Initiatives for tenants and employees of the asset management company (Social)

• 7-6 Governance Initiatives

@ご挨拶

8. Appendix

• 8-1 Top 10 Major Tenants (based on leased area) / Tenant Industry

• 8-2 List of Occupied and Vacated Area by Building* (July 1, 2023 - December 31, 2023)

• 8-3 Building Age Status

• 8-4 Histrical Financial Management Data

• 8-5 List of Borrowing Sources

• 8-6 Unitholders

• 8-7 Histrical Key Management Indicators, etc.

• 8-8 List of properties (1/2) (23 Wards of Tokyo)

• 8-8 List of properties (2/2) (Other Greater Tokyo and Other Cities)

• 8-9 Property Price List (1/3) (23 Wards of Tokyo)

• 8-9 Property Price List (2/3) (23 Wards of Tokyo)

• 8-9 List of property prices (3/3) (Other Greater Tokyo and other cities)

• 8-10 Income status of individual properties (1/3) (23 Wards of Tokyo)

• 8-10 Income status of individual properties (2/3) (23 Wards of Tokyo, Other Greater Tokyo)

• 8-10 Income status of individual properties (3/3) (Other Cities)

• 8-11 Portfolio Map

• 8-12 List of properties (1/4) (23 Wards of Tokyo)

• 8-12 List of properties (2/4) (23 Wards of Tokyo)

• 8-12 List of properties (3/4) (23 Wards of Tokyo, Other Greater Tokyo)

• 8-12 List of properties (4/4) (Other Cities)

• Disclaimer