Investor Presentaiton

Acquisitions in April 2017 (2) Daiwa House REIT Investment Corporation LB-037 D Project Urayasu III Location Construction date Urayasu City, Chiba Nov. 1, 2005 LB-039 D Project Kyotanabe Location Kyotanabe City, Kyoto Construction date Sep. 28, 2012 Logistics (BTS-type) Acquisition price Appraisal value Appraisal NOI yield Lease term Remaining lease 19.8 years 8,500 mil yen 8,880 mil yen Logistics (BTS-type) 4.8% Acquisition price Appraisal value Appraisal NOI yield 3,520 mil yen 3,550 mil yen 5.8% 8.4 years term Total leasable area Tenant Lease term 20.1 years 39,441.32 m² Daiwa Logistics Remaining lease 15.6 years term Total leasable area 10,965.68 m² Kawaguchi JCT Tenant Hutech norin Misato CI Located 2 to 3 km from National Route 357 along the Metropolitan Expressway Wangan Route with the closest interchanges being Maihama and Urayasu, a major distribution base adjacent to a large-scale consumer area. Located approx. 20 km from the Tokyo port, well-suited for importing logistics and large-scale distribution base for the greater Tokyo area ■GFA of approx. 11,828 tsubo, 5-story property D Project Tomisato LB-038 Kosuge JBT Tokyo Sta Ichikawa IC Hanawa D Urayasu IC Kasai IC Tutson JCT Mahama IC Veveta 1120011Cd can Expressway tele Mature b semite Hi akela Ira cata Gakker IC Teb Nah CN Lani Keiha Located 30 km from central Osaka city and 20 km from central Kyoto city, enabling delivery to surrounding areas and longer-distance transportation by accessing the Daini Keihan St. or the Tanabe Nishi IC of the Keinawa Expressway ■GFA of approx. 3,317 tsubo, 2-story property consisting of a freezing and refrigeration facility Saishin-acressway Tekatzuk Ota Keinawa Expressway Location Logistics (BTS-type) Construction date Acquisition price Appraisal value Appraisal NOI yield Lease term Remaining lease term Tomisato City, Chiba Apr. 23, 2015 5,000 mil yen LB-040 D Project Sendai Izumi Location Sendai City, Miyagi Construction date Logistics (BTS-type) Acquisition price Apr. 1, 2014. 1,510 mil yen 5,030 mil yen 5.1% 10.8 years 0 Appraisal value Appraisal NOI yield Total leasable area Tenant 1,560 mil yen 5.7% Total leasable area Tenant 8.8 years 36,113.25 m² Tokyo Nohin Daiko Road 10,764.05 m² Mitsubishi Shokuhin Toriya lot of Sendel Hokubu Tomiya JOT Located 50 km from central Tokyo, coverage area of central Chiba and east Tokyo by National Route 296, central Saitama by National Route 16, and surrounding area by Tomisato IC of Higashi Kanto Expressway, a transit center for air cargo nearby Narita Airport ■GFA of approx. 10,991 tsubo, 6-story property beligula nesil tow Tie C Narita Neito Sta Narita Shisul Airnort Higashi-Kartel Cincy Sakura IC vance CT Chibs Sta. Redcat Exy expressed Tohaku Expressway ■Located approx. 16 km from central Sendai City, providing access to central Sendai, and to Tohoku area through Tohoku Expressway's Izumi IC ■GFA of approx. 3,648 tsubo, 3-story property, well-suited for operating trucks on the premises, with a parking lot with 84 parking spaces Sendai Sta Serce Mycel C Izumi IC 28

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