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Contents 1. Financial Highlights for 43rd FP Ended August 2023 Fiscal Period Ended August 2023 (43rd FP) Settlement Highlights Financial Highlights for 43rd FP Ended August 2023 Performance Summary at Four Hotel Properties with Variable Rent P. 5 P. 3 P. 4 P. 8 3. Forecasts for the FP Ending February 2024 (44th FP) and August 2024 (45th FP) Future Outlook as a Basis for Forecasting Business Performance ◆ Summary of Forecasts for the FP Ending February 2024 (44th FP) and August 2024 (45th FP) P.10 2. Overview of the Settlement for 43rd FP Ended August 2023 Overview of the Settlement for the FP Ended August 2023 (43rd FP) P. 7 Factors of Change in Distributions per Unit (Previous Forecast for FP Ended August 2023 vs. Actual for FP Ended August 2023) . 7. Characteristics of MORI TRUST REIT, Inc. Fundamental Principles and Characteristics of MTR Intensive Investment in High-quality Assets P.26 P.27 Portfolio Consisting Primarily of High-quality Properties Developed by the Sponsor P.28 Mori Trust Group's Track Record of Developing a Variety of High-quality Assets P.29 Broad Collaboration with the Mori Trust Group Mori Trust Group P.30 P.31 Major Hotels Developed, Held and/or Operated by Mori Trust Group P.32 ◆ Major Hotel Development Projects Underway by Mori Trust Group P.33 8. Appendix ◆ Acquisition of Properties Developed by a Sponsor (Additional Acquisition of Kamiyacho Trust Tower) P.35 P.11 Overall Status of Hotel Market P.36 Factors of Change in Distributions per Unit (Actual for FP Ended August 2023 vs. Revised Forecast for FP Ending August 2024) P.12 Factors of Change in Distributions per Unit (Revised Forecast for FP Ending February 2024 vs. Revised Forecast for FP Ending August 2024) 43rd FP Operating Results by Property (Year-on-Year Comparison) 43rd FP Operating Results by Property (Period-on-Period Comparison) P.38 Performance of each hotel assets (Hilton Odawara Courtyard by Marriott Tokyo Station Courtyard by Marriott Shin-Osaka Station) P.37 P.39 P.13 4. External and Internal Growth Strategy Investment Policy, Track of Asset Size Growth and External Growth and Portfolio Summary ◆ [Reference] Timing of Compensating for the Difference from the Minimum Guaranteed Rent P.42 Financial Statements for the FP ended August 2023 (43rd FP) Changes in Indicators P.43 P.46 P.15 Changes in Asset Size, LTV and Distribution Per Unit P.47 ◆ Summary of External Growth Strategy P.16 Portfolio List (As of August 31, 2023) P.48 ◆ Summary of Internal Growth Strategy (office) P.17 Appraisal Values of Portfolio Properties at the FP-End (As of August 31, 2023) P.49 ◆ Summary of Internal Growth Strategy (hotel) P.18 ◆ Changes in Occupancy Rate P.50 5. Financial Status Portfolio Summary and Breakdown of Property-Relate Revenues/Expenses P.51 Overview of Lease Contracts P.55 Financial Status Details of Hotel Property Lease Contracts P.56 (Management Results and Loan Repayment Schedule Diversification) Financial Status (Status of Interest-Bearing Liabilities) Accounting of Goodwill P.20 Interest-Bearing Liabilities (As of August 31, 2023) P.57 P.21 Investors P.58 P.22 ◆ Changes in Unit Prices P.59 ◆ Changes in Vacancy Rate and Rent per Unit in Major Cities P.60 6. Initiatives Related to ESG Asset Management Company Remuneration Methods (After March 1, 2023)) P.61 ◆ Organization Chart P.62 Initiatives Related to ESG P.24 Note P.63 1

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