Investor Presentaiton

Overview of Equity Offering in February 2019 Overview of Equity Offering Global offering // Portfolio Daiwa House REIT Investment Corporation Offering structure (Regulation S +144A) Number of units newly issued 148,000 units Before Equity Offering As of August 31, 2018 By Asset Class Post Equity Offering As of April 10, 2019 Launch date February 8, 2019 Pricing date February 20, 2019 Japanese tranche Greenshoe option International tranche 86,900 units 10,000 units 51,100 units Hotel Retail 0.7% 10.6% Other 1.7% Hotel 1.4% Other 1.7% Retail 12.7% Issue price 245,784 yen Number of units 2,075,000 units Paid-in amount 238,260 yen outstanding post offering 213 671.7 Bn yen properties 229 properties 750.5 Bn yen Total issue price 36,376 mil yen Same boat investment 2,000 units Residential 36.8% Logistics 50.1% Residential 32.8% Logistics 51.3% Overview of New Acquisitions Number of properties 17 properties By Area Greater Other 20.0% Tokyo 66.9% Greater Other 20.9% Tokyo 65.9% By Asset Class Acquisition price 79.8 Bn yen Other Hotel 2.1% Appraisal value 81.1 Bn yen 6.7% Greater Osaka 9.3% Three major metropolitan areas 80.0% Greater Osaka 8.9% Three major metropolitan areas 79.1% Greater Greater Appraisal NOI yield 4.9% Retail 24.0% Nagoya Core Assets 3.8% Nagoya 4.2% Appraisal NOI yield 3.9% 98.3% after depreciation Occupancy rate 100.0 % Logistics 67.3% By Property Age Less than 5 years 14.5% Less than 5 years 17.1% (Acquisition price basis) Average property age 7.1 years Properties developed by Daiwa House Group Properties acquired from pipeline of Daiwa House Group 15 properties 17 properties 16 properties / 17 properties 10 years or more 49.3% Average property age 9.6 years 5 to less than 10 years 36.2% 10 years or more 54.0% Average property age 9.8 years 5 to less than 10 years 29.0% (Acquisition price basis) 25

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