Investor Presentaiton

40 40 Initiatives for ESG - Initiatives for Governance with Consideration for Unitholders' Interests Governance MFLP Logistics Park Inc. Mitsui Fudosan MFLP-REIT and the Asset Management Company are working to establish proper governance through the following measures in order to build a solid relationship of trust that aligns interests of unitholders and interests of MFLP-REIT and the Asset Management Company while giving sufficient consideration to unitholders' rights. Rules concerning conflicts of interest in asset management The acquisition and transfer of assets by MFLP-REIT from related parties are decided by the Asset Management Company via a transparent decision-making process. *2 Draft by the Investment Team Approval by the Chief Compliance Officer Deliberation and resolution by the Compliance Committee Examination and approval by the Investment Committee Approval by MFLP-REIT's Board of Directors Submission of the acquisition plan by the Chief Investment Office Officer to the Management Committee Deliberation and resolution by the Management Committee Reporting to the Board of Directors and MFLP-REIT or amend details Instruction to cancel or amend details Instruction to cancel *1: The above chart shows the decision-making flow when a transaction involves a related party, which requires the approval of MFLP-REIT's Board of Directors under Article 201- 2 of the Act on Investment Trusts and Investment Corporations. *2: If a transaction prescribed in Article 201-2 of the Act on Investment Trusts and Investment Corporations falls under the criteria for insignificance defined therein, the approval of MFLP-REIT's Board of Directors shall be omitted. Asset management with emphasis placed on relationship of trust with unitholders I Asset management fee structure consistent with the interests of unitholders The aim is to keep the interests of MFLP-REIT's unitholders consistent with the interests of the Asset Management Company. Asset management fee I Asset management fee II Asset management fee III Total assets x 0.1% (maximum) Operating income (before deduction of asset management fees and depreciation) × 5.5% (maximum) Pre-tax earnings (before deduction of asset management fees) × Pre-tax EPU (before deduction of asset management fees) × 0.001% (maximum) | Same-boat investment in MFLP-REIT by Mitsui Fudosan MFLP-REIT receives 6.6% investment in capital from Mitsui Fudosan. (As of March 13, 2020) Receiving certain investment in capital leads to alignment of the interests of MFLP-REIT's unitholders and Mitsui Fudosan, and asset management that pursues mutually greater interests. Timely and proper information disclosure and securement of transparency MFLP-REIT strives to make timely and proper disclosure of information necessary for unitholders to make investment decisions. Upon disclosure, MFLP-REIT promotes prompt and transparent information disclosure to secure fairness and equality, and also promotes disclosure of not only financial information but also non-financial information concerning ESG.

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