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Investor Presentaiton

4-1 Portfolio Strategy (1/3) - Quality Focused investment in highly competitive premium office buildings IInvestment Ratio by Area (Acquisition price basis; as of June 30, 2016) ■Continued Appraisal Value & Floor Space (20 properties over 10,000 tsubo) NBF Mapen Building Fund *The size of the dot for each property indicates amount of NOI (NBF's share, annualized) Other Greater Tokyo ¥100.7 billion (9.2%) Continued Appraisal Other Cities Value (billion yen) 23 Wards of Tokyo Other Greater Tokyo Other Cities ¥129.5 billion (11.8%) 90.0 23 Wards of Tokyo NBF Osaki Bldg. 80.0 ¥865.8 billion (79.0%) 70.0 -23 Wards of Tokyo- Central 5 Wards 1,096.1 billion 73properties NBF Hibiya Bldg. (Chiyoda-ku, Tokyo) Mitsubishi Heavy Industries Head Office Bldg. (Minato-ku, Tokyo) Panasonic Tokyo Shiodome Bldg. (Minato-ku, Tokyo) 60.0 NBF Platinum Tower NBF Hibiya Bldg. 50.0 Mitsubishi Heavy Industries Head Office Bldg. 40.0 Nishi-Shinjuku Mitsui Bldg. NBF Toyosu Canal Front. Nakanosakaue Sunbright Twin Gate City Ohsaki 30.0 NBF Toyosu Shiba NBF Tower Garden Fron Celestine Shiba Mitsui Bldg. Central 5 Wards ¥558.9 billion (51.0%) Ueno East Towe Nakameguro GT Tower Shin-Kawasaki Mitsui Bldg. 20.0 Aqua Dojima NBF Tower Nakanoshima Central Tower Yokohama ST Bldg. 10.0 Shinanobashi Mitsui Bldg. NBF Shin-Urayasu Tower Panasonic Tokyo Shiodome Bldg. 0.0 Floor space 0 1 2 3 4 5 6 7 8 9 (10,000 tsubo) -Other Greater Tokyo- Other Cities NBF Platinum Tower (Minato-ku, Tokyo) Gate City Ohsaki (Shinagawa-ku, Tokyo) NBF Osaki Bldg. (Shinagawa-ku, Tokyo) Shin Kawasaki Mitsui Bldg. (Kawasaki city, Kanagawa) Yokohama ST Bldg. (Yokohama city, Kanagawa) Nakanoshima Central Tower (Osaka city, Osaka) 23 Aqua Dojima NBF Tower (Osaka city, Osaka)
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