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Investor Presentaiton

Historical Portfolio Data Daiwa House REIT Investment Corporation Feb. 2017 Aug. 2017 Feb. 2018 Aug. 2018 (A) Feb. 2019 (B) Change (B-A) Number of properties 189 properties 199 properties 199 properties 213 properties 216 properties 3 properties Total acquisition price 513,772 mil yen 577,777 mil yen 577,777 mil yen 671,753 mil yen 683,443 mil yen 11,690 mil yen Ratio of logistics properties 38.1 % 45.0% 45.0% 50.1% 49.7% -0.4 p.p. Ratio of residential properties 50.2% 43.3% 43.3% 36.8% 36.1% -0.7 p.p. Ratio of retail properties 9.8% 9.6% 9.6% 10.6% 11.6% 1.0 p.p. Ratio of hotel properties Ratio of other assets 0.7% 0.9% 0.2 p.p. 1.9% 2.0% 2.0% 1.7% 1.7% Number of properties acquired 7 properties 17 properties 16 properties (Note 1) 4 properties Acquisition price 22,830 mil yen 73,311 mil yen 96,980 mil yen 12,710 mil yen -12 properties -84,270 mil yen Number of properties sold Sale price Unrealized gain (loss) 1 property 370 mil yen 47,179 mil yen 7 properties 10,193 mil yen Leasable area 1,605,625.31 m² 59,410 mil yen 1,934,669.61 m² 63,322 mil yen 1,934,679.13 m² 1 property 2,800 mil yen 78,885 mil yen 2,427,976.21 m² 1 property 1,200 mil yen 93,224 mil yen 2,516,960.54 m² - properties -1,600 mil yen 14,339 mil yen 88,984.33 m² Occupancy rate 99.0% 99.2% 99.3% 99.5% 99.5% Real estate rental revenue 17,531 mil yen 19,479 mil yen 19,700 mil yen 22,211 mil yen 23,013 mil yen 801 mil yen Real estate rental expenses 7,493 mil yen 7,906 mil yen 7,947 mil yen 8,944 mil yen 9,184 mil yen 240 mil yen Real estate rental income 10,037 mil yen 11,573 mil yen 11,753 mil yen 13,267 mil yen 13,828 mil yen 561 mil yen Depreciation 3,361 mil yen 3,713 mil yen 3,750 mil yen 4,296 mil yen 4,454 mil yen 158 mil yen NOI (Note 2) 13,398 mil yen 15,286 mil yen 15,503 mil yen 17,563 mil yen 18,283 mil yen 719 mil yen NOI yield (Note 3) 5.3% 5.4% 5.4% 5.4% 5.4% (Note 1) Including additional acquisition of D Project Inuyama (Note 2) NOI: Real estate rental business revenue - real estate rental business expenses + depreciation (Note 3) NOI yield is annualized and excluding the properties sold during the period. 34
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