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Investor Presentaiton

3-2. 7th Fiscal Period (Ended January 2020) P/L Mitsui Fudosan MFLP Logistics Park Inc. 6th period Actual (Unit: million yen) (a) 7th period Forecast (Mar. 15, 2019) 7th period Actual (b) Difference (b)-(a) Main breakdown of difference Operating revenue 4,969 5,077 5,064 94 Operating revenue Increase due to full-period operation of properties +154 Operating expenses 2,650 2,779 2,748 98 acquired in the 6th FP (MFLP Hino (10%), Tsukuba (40%), Inazawa, Atsugi II, Fukuoka I, MFIP Inzai (80%)) Of which, Depreciation 1,314 1,327 1,326 12 (those related to properties only) Decrease in rent income due to tenant move-out at "GLP/MFLP Ichikawa Shiohama" - 38 Operating income 2,318 2,298 2,315 - 3 Decrease in photovoltaic power generation facilities rent revenue (excluding properties acquired in the 6th FP) Increase in other operating revenue - 34 +12 Non-operating income 3 26 23 23 Operating expenses Increase due to full-period operation of properties +49 Non-operating expenses 118 82 103 -15 acquired in the 6th FP (MFLP Hino (10%), Tsukuba (40%), Inazawa, Atsugi II, Fukuoka I, MFIP Inzai (80%)) Ordinary income 2,203 2,215 2,238 35 Increase in asset management fee +42 Increase in other operating expenses +5 Profit (Net income) 2,202 2,214 2,237 35 Non-operating income Increase in insurance income +22 Distribution per unit (DPU) (yen) 6,496 6,541 6,584 88 Non-operating expenses Of which, 5,811 5,843 5,905 94 Distribution of earnings per unit (EPU) (yen) Absence of offering costs associated with issuance of investment units - 32 Of which, Increase in disaster restoration expenses +17 Distribution in excess of earnings per unit (yen) 685 698 679 -6 Distribution in excess of earnings 19.7% 19.9% 19.4% <Reference> Formula for distribution per unit based on FFO * expressed as a percentage of depreciation Average occupancy rate during the period*1 100% 100% 99.4% * For further details, please refer to "Method of calculation of cash distribution based on FFO" on p. 44. *1 The simple average of the occupancy rates as of the end of each month in each fiscal period is indicated. FFO Source of funds for distribution == Profit (Net income) 1 FFO + Depreciation, etc. 1 70% ...② Distribution = per unit 2 Source of funds for distribution ÷ Number of investment units issued and outstanding 11
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