Investor Presentaiton

Performance over the Past Five Fiscal Periods JPR Operating Revenue, Operating Income and Net Income (JPY mn) Change in Distributions per Unit (DPU) and FFO per Unit (JPY) 12,000 16,000 14,000 10,000 12,000 8,000 10,000 8,000 6,000 6,000 4,000 4,000 2,000 2,000 0 0 17th Period 18th Period 19th Period 20th Period 21st Period ■Operating Revenue Operating Income Net Income T 17th Period 18th Period 19th Period 20th Period 21st Period ■FFO per Unit (Notes 1 & 2) DPU (Note 1) (JPY mn) (JPY) 17th Period 18th Period 19th Period 20th Period 21st Period 17th Period 18th Period 19th Period 20th Period 21st Period Operating Revenue 12,314 11,870 11,529 11,772 12,345 FFO per Unit (Notes 1 & 2) 8,952 8,353 8,372 8,426 8,882 Operating Income 6,484 5,886 5,603 5,763 6,393 DPU (Note 1) 6,770 5,680 5,611 5,876 6,430 Net Income 4,963 4,039 4,010 4,200 4,596 Number of Units Outstanding 715,000 715,000 715,000 715,000 715,000 (Note 1) DPU and FFO per unit are calculated by dividing distributions and FFO by the total units outstanding as of the end of each fiscal period. (Note 2) FFO per unit = (Net income - Gains on sale of real estate - Gains on sale of investment securities - Extraordinary revenues and expenses + Depreciation + Other real estate- related depreciation) / Total units outstanding Japan Prime Realty Investment Corporation 29

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