Investor Presentaiton

5-1. Market Overview [1] Supply-demand balance and vacancy rate [1 of 2] | Greater Tokyo metropolitan area (thousand m²) 2,500 2,000 Forecast 15% 12% MFLP Mitsui Fudosan Logistics Park Inc. : New supply in 2018 and 2019 : Vacancy rate 0-5% : New demand in 2018 and 2019 |: Vacancy rate 5-10% = 100 thousand m² : Vacancy rate 10%- *As of December 31, 2019 Tohoku Expressway 1,500 1,000 9% Tohoku/Ken-O Expwy area MFLP Kuki Kuki IC 6% Shiraoka Shobu IC Metropolitan Inter-City Expressway (Ken-O Expressway) Tsukuba Chuo IC MFLP Tsukuba 500 3% Kan-Etsu/Ken-O Expwy area 0 0% Tsurugashima JCT 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021, (year) Saitama Prefecture National Route 16 area Tsukuba JCT Joban Okegawa-Kitamoto IC National Route 16 Expressway Kanetsu Expressway Tokyo Gaikan Expressway (Gaikan Expressway) MFLP Kashiwa MFLP Kawagoe Tokorozawa IC Kashiwa IC (thousand m²) 900 600 Submarket areas Mitsui Fudosan's strategic areas Soka IC Gaikan Misato Nishi IC Narita area MFLP Prologis Park Kawagoe Misato JCT Tokyo-Gaikan Expwy area MFIP Inzai Tokyo Prefecture MFLP Yashio MFLP Kawaguchi 1 Misato Minami IC Daiei JCT MFLP Yachiyo Katsutadai 6% MFLP Tachikawa Tachihi Oizumi JCT MFLP Funabashi Nishiura MFLP Funabashi III Hachioji area Hachioji IC Chuo Expressway Chuo JCT (tentative name) Ohashi JCT Central Circular Route MFLP Hino 4% Hachioji JOT Tomei JCT (tentative name) Oi JCT MFLP Tokyo Rail Gate EAST Atsugi Kanagawa inland area Daisan Keihin Road Sagamihara Aikawa IC MFLP Yokohama Kohoku MFLP Kawasaki Takaya JCT Chidoricho IC Kasai JCT GLP/MFLP Ichikawa Shiohama MFIP Haneda Haneda Airport Wangan Ichikawa IC MFLP Funabashi I Ichikawa Shiohama development of logistics facilities Keiyo Road Chiba inland area Higashi-Kanto Expressway MFLP Funabashi II Chiba Prefecture Tateyama Expressway MFLP Ebina Wangan Line Daikoku Futo IC Tomei Expressway Ebina JCT MFLP Yokohama Daikoku 300 2% 1.0% Kanagawa Prefecture 0.5% 0 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 MFLP Atsugi II Daini Tomei Expressway Atsugi IC Isehara Oyama IC Isehara JCT New supply 2018 Net absorption 2019 Vacancy rate Vacancy rate (Completion over 1 year) *Source: CBRE K.K. (including forecast figures) *As of December 31, 2019 *The survey is of rental logistics facilities that are held by real estate investment companies, real estate development companies, etc. and have total floor area of 5,000 m² or more. MFLP Hiratsuka II MFLP Hiratsuka Ebina Minami JCT Samukawa kita IC Fujisawa IC Samukawa-Minami IC Kamariya JCT Greater Tokyo bay area Kisarazu JCT 29 29

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