Investor Presentaiton

Investment Policy, Track of Asset Size Growth and External Growth, Portfolio Summary ⚫ Pursue Asset Potential, Stability and Growth Potential with Offices and Hotels as Core Assets ⚫ MTR will aim for growth through the Merger and an increase in asset size (about 500 billion yen) by acquiring mostly properties developed by the sponsors. Investment Policy Portfolio Summary Use of investment Area of investment Central Tokyo Other 1% Retail 60% or more facility Office Core Assets Hotel 20~55% 40~80% Office Other (metropolitan 13% Ratio by area, ordinance- designated cities, etc.) Up to 40% Hotel asset class Office 30% 56% Major cities across Japan Hotel Other (Retail facility, Residential) Famous tourist sites Up to 30% Other 4% Track of Asset Size Growth and External Growth Target Regional ratios Major Cities across Japan 17% Central Independent growth of MTR and MTH (billion yen) Listing of MTR stock Acquisition Listing of MTH stock price New MTR MTR New growth as New MTR The Merger of MTR and MTH Continuous growth Tokyo 79% Return to 500.0 growth path MTH 470.1 Tokyo Shiodome Building 18% Kamiyacho Trust Tower 11% 400 324.0 324.0 324.0 324.0 324.7 323.9 300 200 107.2 102.0 102.0 108.5 107.7 107.6 107.6 100 0 Period 2017 2018 2019 2020 2021 Ended Before the Merger After the Merger Short/mid- term target Mar. 2004 Other Ratio of top 5 45% properties 8% Kioicho ON Shangri-La Building Building Tokyo 7% 10% Acquisition price Number of 470,156 million yen 22 properties properties Long-term target (Note) The acquisition price is on an acquisition price basis as of the end of August 2023. Ratio by asset class, Regional rations, Ratio of top 5 properties, are calculated by acquisition price. 15

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