Investor Presentaiton

Operation Status of Retail Properties Operation Status Occupancy remained at a high level of 99.4% . . . Move-ins: units iQiz GATE Urawa LO DEP 食生活 ♥♥ ロピア Daiwa House REIT Investment Corporation Remaining Lease Term (annual rent basis) Average Remaining Lease Term 7.7 years 15 years or more 9.8% 10 to less than 15 years 35.1% 5 to less than 10 years 23.3% Less than 5 years 31.8% Lease Term (annual rent basis) • Move-outs: 9 units < QIZ GATE URAWA > Replacing tenant with a competitive food supermarket → LOPIA will newly open in late May 2017 Renewal construction work in time with opening of LOPIA • Currently leasing 5 vacant units < FOLEO Hirakata > Planning renewal construction work in time with contract renewal of 7 units in Sep. 2017 Rent Revision / Lease Contract Renewal of Major Tenants Rent revision: ACROSSMALL Shinkamagaya and ACROSSPLAZA Miyoshi → Revised rent on equal terms Average Lease Term 14.3 years 10 years or more 75.2% Less than 10 years 24.8% // Monthly Occupancy Rate Rent Type (leased area basis) Retail Properties Fixed rent 94.6% Ratio of Fixed Rent Fixed rent + variable rent 99.4% 99.4% 5.2% 99.3% 99.8% 100.0% 99.8% 99.8% 99.6% 99.4% 99.6% 99.6% 99.6% 99.6% 99.6% 99.6% 99.6% 99.6% 99.2% 99.0% 16/3 16/4 16/5 16/6 16/7 16/8 16/9 16/10 16/1116/12 17/1 17/2 Variable rent 0.2% As of April 11, 2017 19

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