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Investor Presentaiton

4-1 Portfolio Strategy (2/3) - Size Diversity, stability and liquidity as the largest J-REIT NBF's J-REIT Market Share (As of June 30, 2016) ■Total Acquisition Price By Asset Type NBF Hippon Suilding Other (infrastructure, seniors) 7.4% 3.8% Hotels 4.7% Logistics 11.6% Housing 16.3% Acquisition Price (Total) ¥14,831.2 billion Retail facility 17.6% Office 46.0% Source: Asset management companies compiled from publicly available information 24 Market Capitalization By Type of Investment Corporation Diversified (3 types) 28.6% Diversified (2 types) 14.1% Market Capitalization (Total) ¥11,597.3 billion Health care REIT 0.3% NBF 7.7% Hippon Suiding Office REIT 21.9% NBF Mapen Building Fund Retail facility REIT 10.4% Housing REIT 11.3% Hotel REIT 3.6% Logistics REIT 9.7% Source: Asset management companies compiled from QUICK

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