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Investor Presentaiton

2. Financial Results & Forecast NBF Nippon Building Fund Definition of Terms Fiscal period 1H 2016 (30th Period) - Actual (Properties at period end: 73) 2H 2016 (31th Period) - Forecast (Properties at period end: 74) Terms 2 new properties 2 properties disposed of Existing 72 properties 4 new properties 2 properties disposed of Existing 72 properties Definitions 2 property acquired during the period ended June 30, 2016 (30th Period) (One property is an additional acquisition) 2 properties disposed of during the period ended June 30, 2016 (30th Period) 72 properties excluding the 2 acquisitions above from the 73 properties owned as of June 30, 2016 (end of 30th Period) 2 properties acquired (one property is an additional acquisition) during the 30th Period, ended June 30, 2016, and 2 properties planned to be acquired (one property will be an additional acquisition) during the 31st Period, ending December 31, 2016. 2 properties disposed of during the period ended June 30, 2016 (30th Period) 72 properties excluding the 4 new properties from the 74 properties planned to be owned as of December 31, 2016 (end of 31th Period) Property Name Ueno East Tower, Kowa Nishi-Shinbashi Bldg. B(additional acquisition) NBF Sendai Honcho Bldg., NBF Atsugi Bldg. Ueno East Tower, Kowa Nishi-Shinbashi Bldg. B(additional acquisition) Toyo-cho Center Bldg., Nishi-Shinjuku Mitsui Bldg. (additional acquisition) NBF Sendai Honcho Bldg., NBF Atsugi Bldg. 4
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