Investor Presentaiton

Financial Status (1) O Daiwa House REIT Investment Corporation Financed 7.0 Bn yen in Sep. & Dec. 2018, refinanced 11.6 Bn yen in Mar. and financed 27.5 Bn yen in Apr. DHR currently has 73.0 Bn yen of debt capacity for acquisition of up to 50% of LTV (excluding goodwill) // Financial Status (as of April 10, 2019) Interest-bearing debt 348,768 mil yen Loans Credit Rating Long-term interest- bearing debt ratio LTV Average interest rate JCR (Excluding goodwill) 89.4% 0.74% 45.2% AA (Stable) 329,768 mil yen Fixed interest ratio Average remaining maturity LTV (Including goodwill) Bonds 95.2% 5.3 years 41.5% 19,000 mil yen //Debt Financing R&I A+ (Positive) Financing in period ended Feb. 2019 Amount 7,000 mil yen Average interest rate 0.78% Average maturity 8.9 years 4.4 years Repayment in Mar. 2019 11,600 mil yen 0.54% Refinancing in Mar. 2019 11,600 mil yen 0.36% Financing in Apr. 2019 27,500 mil yen 0.52% 7.1 years 5.4 years 22

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