Investor Presentaiton

5-1. Market Overview [1] MFLP Mitsui Fudosan Logistics Park Inc. | Supply-demand balance and vacancy rate [2 of 2] | Greater Osaka area (thousand m²) | Greater Nagoya area Forecast (thousand m²) Forecast (thousand m²) 2,000 15% 2,000 15% 400 [Graph legend] New supply New demand | Greater Kyushu area Vacancy rate | Greater Chugoku area Vacancy rate (Completion over 1 year) Forecast (thousand m²) 15% 200 1,500 1,000 500 1,500 10% 1,000 5% 500 300 10% 200 5% 100 150 10% 100 Forecast 30% 25% 20% 15% 5% 50 10% 5% 0 0% 0 0% 0 0% 0 0% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 (year) (year) (year) (year) (thousand m²) 750 (thousand m²) (thousand m²) 18% 750 18% 150 16% 16% 14% 14% 500 12% 500 12% 100 9.5% 10% 10% 8% 8% 250 2.7% 6% 250 6% 50 3.0% 50 4% 4% 2% 2% 3.0% 0 0% 0 0% 0 Q1 02 Q3 Q4 Q1 Q2 03 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 22 Osaka inland area 2018 2019 2018 2019 MFLP Ibaraki- Other area MFLP Komaki MFLP Inazawa MFLP Osaka Katano MFLP Osaka I Osaka bay/ Kobe area Osaka Prefecture MFLP Sakai [Map legend] 2018 2019 (thousand m²) 18% 100 16% 14% 75 12% 10% 50 8% 6% 25 4% 25 0.0% 2% 0% 0 Q3 Q1 Q2 Q4 MFLP Fukuoka l Fukuoka Prefecture Aichi Prefecture MFLP Tosu New supply in 2018 and 2019 = 100 thousand m² : Vacancy rate 0- less than 5% New demand in 2018 and 2019 2019 18% 16% 14% 12% 10% 8% 6% 4% 0.0% 2% 0% Q3 Q4 Hiroshima Prefecture MFLP Hiroshima'l : Vacancy rate 5% - less than 10% Vacancy rate 10%- Submarket areas Mitsui Fudosan's strategic areas *As of December 31, 2019 Okayama Prefecture 30

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