MFLP Mitsui Fudosan Logistics Park Inc. Development / Operation Track Record

52 62 Notes on Matters Stated in this Document Unless otherwise specified, figures indicated in whole numbers are rounded down to the nearest specified unit and figures with a decimal point are rounded to the nearest indicated unit. Unless otherwise specified, descriptions are made based on the following. [Highlights]/[Basic Strategy and Four Roadmaps] / [Internal Growth Strategy] / [Our Portfolio] "Distributions per unit (DPU)" MFLP Mitsui Fudosan Logistics Park Inc. Includes distributions in excess of earnings. (Number of investment units issued and outstanding: 224,000 units at the end of the 1st/2nd/3rd fiscal periods / 262,774 units at the end of 4th and 5th fiscal periods / 379,000 units at the end of 6th and 7th fiscal periods / 441,000 units at the end of 8th fiscal period / 542,000 units at the end of 9th/10th/11th fiscal periods / 576,000 units at the end of 12th/13th/14th fiscal periods / 608,000 units at the end of 15th and 16th fiscal periods) "Occupancy rate" Leased area as a percentage of leasable area. Based on concluded agreements as of July 31, 2023 (end of 14th fiscal period). Average occupancy rate during the fiscal period is the simple average of the occupancy rate as of the end of each month during the fiscal period. Based on concluded agreements "Green Building certification" Calculations based on total floor area before considering (quasi) co-ownership interests. "LTV" LTV = Balance of interest-bearing debt Total assets "Acquisition capacity" Amount of debt that can be additionally financed assuming that LTV is raised to 50%. the amount indicated is rounded to the nearest billion yen. "Adjusted forecast NOI yield" Annualized after subtracting the fixed asset tax and city planning tax for the property acquired in the 14th and 15th fiscal period from the NOI assumed in the earnings forecast for the 14th, 15th and 16th fiscal periods as well as adjusting special factors, and dividing it by the total acquisition price. Subtotal (average) and total (average) for each category indicate the weighted average based on acquisition price. "Appraisal NOI / Appraisal value" Ratio of net operating income under direct capitalization method stated in real estate appraisal report ("Appraisal NOI") divided by appraisal value. the subtotal (average) and total (average) of "Appraisal NOI / Appraisal value" for each category indicate the weighted average based on the appraisal value. "Building age" Number of years from the date of construction of the main building of a property acquired in the register to July 31, 2023 (end of 14th fiscal period). "Average building age" and subtotal (average) and total (average) indicates the weighted average based on the total floor area, considering the (quasi) co-ownership interest of each property. "Calculation of average lease term" "Average lease term" is calculated using the average of the lease terms stated in concluded lease agreements as of July 31, 2023 weighted by the leasable floor area. With regard to the lease agreements to be included in the calculation, when a re-contract starting on the day immediately following the expiration date of the respective lease agreement is concluded with the same lessee, the lease term is deemed to be from the start of the initial lease agreement to the expiration date of the re-contract, and used in the calculation as such. "Calculation of remaining lease contract period" "Average lease term" is calculated using the average of the remaining period in the lease terms after July 31, 2023, based on the concluded lease agreements as of July 31, 2023. With regard to the lease agreements to be included in the calculation, when a new lease agreement ("re-contract") is concluded with the same lessee, the remaining period shall be calculated assuming that the lease period continues from the day immediately following the expiration date of the previous contract to the expiration date of the re-contract. "Top 5 property ratio" The sum of the acquisition prices of the five largest properties as a percentage of the total acquisition price. "Top 5 tenant ratio" The total leased area of top five tenants as a percentage of the total leased area (excluding MFIPS). "Multi-tenant properties/Single-tenant properties/BTS" Multi-tenant properties mean "GLP MFLP Ichikawa Shiohama", "MFLP Kuki", "MFLP Yokohama Daikoku", "MAFLP Yashio", "MALP Sakai", "MALP Komaki", "MFLP Hino", "MFLP Inazawa", "MFLP Atsugi II", "MFLP Prologis Park Kawagoe", "MFLP Hiroshima I", "MFLP Ibaraki", "MFLP Kawaguchi I", "MFLP Yachiyo Katsutadai", MFLP Hiratsuka II". Single-tenant properties mean "MFLP Atsugi", "MFLP Funabashi Nishiura", "MFLP Kashiwa", "MFLP Hiratsuka", MFLP Tsukuba", "MFLP Fukuoka I", and "MFLP Osaka I". BTS mean "MFIP Inzai", "MFIP Inzai II". "NAV per unit" "End of FP ended January 2017 (End of 1st FP)": (Net assets as of the end of FP ended January 2017 + Unrealized gain on appraisal basis - Total distribution amount) (=NAV as of the end of FP ended January 2017) / Number of investment units issued and outstanding (224,000 units) "After acquisition of Anticipated acquisitions": (Forecast NAV as of the end of FP ended January 2024 (End of 15th FP) + Unrealized gain on appraisal basis of property acquired in 16th FP (*) + Total issue amount of 6th public offering (15,363,200,000 yen) / Number of investment units issued and outstanding (608,000 units) **Forecast NAV for FP ending January 2024 (end-15th FP)": Net assets as of the end of FP ended July 2023 + Unrealized gain on 27 acquired properties (including anticipated acquisitions) as of the end of January 2024 after factoring in depreciation. *Unrealized gain on appraisal basis of property acquired in 16th FP: Appraisal value of property acquired in 16th FP - Acquisition price of property acquired in 16th FP. *Calculation of NAV as of the end of each fiscal period based on net assets as of the end of each FP and unrealized gain on appraisal basis less total distribution amount divided by number of investment units issued and outstanding. "Market cap" End of FP ended July 2023 (End of 14th FP): Closing price of the investment unit as of the end of the FP ended July 2023 (506,000 yen) x the number of MFLP-REIT's investment units issued and outstanding as of the end of the FP ended July 2023 (576,000 units). After 6th follow-on offering (As of August 31, 2023): Closing price of the investment unit as of the end of the FP ended August 2023 (495,500 yen) x the number of MFLP-REIT's investment units issued and outstanding as of the end of the FP ended August 2023 (608,000 units). Market cap as of end of each FP calculated using closing price at end of FP multiplied by number of investment units issued and outstanding as of the end of each FP. "Appraisal value" Appraisal values corresponding to the (quasi) co-ownership interest ratio of each property as the appraisal date are indicated. Appraisal values with July 31, 2023 (End of 14th FP) as the appraisal date are indicated for properties owned as of the end of 14th FP, and those with May 31, 2023 as the appraisal date are indicated for properties acquired in 15th and 16th FP. "Appraisal NOI yield" Ratio of Appraisal NOI to acquisition price. "Average NOI yield" and subtotal (average) and total (average) for each category indicate the weighted average based on acquisition price. "Total floor area" Figures based on the record on the register, rounding down to the nearest whole number. "Leasable area" The total floor area (rounded down to the nearest whole number) of each asset held by MFLP-REIT that is deemed to be leasable based on the lease agreement or floor plan, etc. for such building as of July 31, 2023 (End of 14th FP). (not include the leased area indicated in the lease agreements concerning shops, vending machines, solar power generation facilities, parking lots, nursery centers and the like)