Investor Presentaiton

23rd Period financial results - Comparison to previous period (Unit: mn. yen) Fiscal period ended Jun. 30, Fiscal period ended Dec. 31, Operating revenue Rent revenue -414 137 Difference 2017 2017 (23rd (22nd Period) Period) Operating revenue Four properties acquired in 22nd Period Two properties disposed in 22nd Period Office in Tokyo Area 261 -144 49 8,025 7,610 -414 (mn. yen) Operating expenses 4,875 4,627 -247 (mn. yen) Office in Osaka Area Others Other lease business revenue Utilities revenue -28 0 -25 8 Operating income (mn. yen) 3,150 2,983 -167 Other rent revenue 2 Other operating revenue -35 Gain on distribution of TK interest (Nagoya Ordinary income (mn. yen) 2,527 2,400 -126 31 Lucent Tower) Income before income taxes Gains on sales of property -557 2,527 2,406 -121 (mn. yen) Operating expenses -247 Expenses related to rent business (excl. -22 Net income (mn. yen) 2,527 2,405 -121 depreciation and loss on retirement) Breakdown by property type Reserve for reduction entry 183 - -183 Four properties acquired in 22nd Period Two properties disposed in 22nd Period -94 (mn. yen) Office in Tokyo Area Office in Osaka Area Total distributions (mn. yen) 2,343 2,405 +62 Others -66 Breakdown by items Distribution per unit (yen) 7,900 8,110 +210 Taxes on property, plant and equipment -49 Gain/loss on real estate Utilities expenses 3,436 3,593 +157 lease business (mn. yen) Repair expenses -51 Others 22776 7257 -1 47 90 -11 NOI (mn. yen) 4,715 4,850 +134 Depreciation and loss on retirement -22 Losses on sales of property -225 Occupancy rate at end of 97.5% 97.0% -0.5pt Asset management fees 39 _period Other operating expenses -15 5 MCUBS MidCity Investment Corporation

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