Investor Presentaiton

Overview of Acquisitions in April 2017 O Daiwa House REIT Investment Corporation Property name Location Asset class Acquisition price (mill yen) Appraisal value (mil yen) Appraisal NOI yield Occupancy Property rate age Lessee (Average) lease term (Average) remaining lease term Acquisitions on April 11, 2017 DPL Misato Misato, Saitama Logistics 16,831 16,900 4.5% 100% 3.8 years D Project Kawagoe III Kawagoe, Saitama Logistics 7,200 7,260 5.0% 100% 2.8 years Kokubu Group, ARATA, Kato Sangyo, Nitori, etc. Hitachi Transport System Kanto 8.7 years 6.3 years 10.0 years 7.2 years D Project Kazo D Project Urayasu III D Project Tomisato D Project Kyotanabe Kazo, Saitama Logistics 3,300 3,350 5.1% 100% 2.7 years Itochu Logistics 10.6 years 7.9 years Urayasu, Chiba Logistics 8,500 8,880 4.8% 100% 11.4 years Daiwa Logistics 19.8 years 8.4 years Tomisato, Chiba Logistics 5,000 5,030 5.1% 100% 2.0 years Tokyo Nohin Daiko 10.8 years 8.8 years Kyotanabe, Kyoto Logistics 3,520 3,550 5.8% 100% 4.5 years D Project Sendai Izumi Sendai, Miyagi Logistics 1,510 1,560 5.7% 100% 3.0 years D Project Oyama D Project Sano D Project Tatebayashi D Project Kakegawa Oyama, Tochigi Logistics 2,000 2,010 5.8% 100% 7.1 years Hutech norin Mitsubishi Shokuhin Mitsubishi Shokuhin 20.1 years 15.6 years Not disclosed Not disclosed Not disclosed Not disclosed Sano, Tochigi Logistics 1,780 1,780 5.8% 100% 2.9 years Toryusha 15.0 years 12.2 years Tatebayashi, Gunma Logistics 3,100 3,120 5.7% 100% 1.6 years Hitachi Transport System Kanto 15.0 years 13.4 years Kakegawa, Shizuoka Logistics 6,000 6,070 5.8% 100% 2.7 years Hitachi Transport System Chubu 20.0 years 17.3 years D Project Hiroshima Seifu Hiroshima, Hiroshima Logistics 3,820 3,860 5.8% 100% 2.3 years D Project Tosu II Tosu, Saga Logistics 1,700 1,740 5.5% 100% 0.3 years MITSUI FOODS Marukyo Transportation Not disclosed Not disclosed Logistics Sub-total / Average 64,261 65,110 5.1% 100% 4.2 years 7.0 years 13.5 years 6.7 years 9.7 years Castalia Shinsakae II Nagoya, Aichi Residential 1,800 1,850 5.5% 100% 1.2 years Daiwa Living Management Sharp Hiroshima Building Hiroshima, Hiroshima Other 1,850 1,890 5.7% 100% 1.2 years Sharp Total Average 67,911 68,850 5.1% 100% 4.0 years Not disclosed 13.7 years Not disclosed 10.0 years DPL Misato Logistics D Project Kawagoe III |Logistics D Project Kazo D Project Urayasu III Logistics Logistics D Project Tomisato Logistics D Project Kyotanabe Logistics D Project Sendai Izumi Logistics D Project Oyama Logistics D Project Sano Logistics 17 D Project Tatebayashi D Project Kakegawa D Project Hiroshima Seifu D Project Tosu II Logistics Logistics Logistics TORYU Logistics Castalia Shinsakae II Residential Sharp Hiroshima Building Other 9

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