Investor Presentaiton

Portfolio Summary (as of April 11, 2017) O Daiwa House REIT Investment Corporation Portfolio Logistics Residential Retail Acquisition price 581,683 mil yen 260,119 mil yen 259,754 mil yen 50,330 mil yen Number of properties NOI yield (Note) Average property age 5.2% 204 properties 47 properties 142 properties 11 properties 5.0% 5.4 % 5.5 % Other 11,480 mil yen 4 properties 6.2% 9.0 years 6.8 years 11.2 years 9.4 years 5.5 years Occupancy rate 99.2% 100.0 % 97.1 % 99.4 % 99.6% Greater Tokyo 71.1% Greater Tokyo 74.8% Greater Tokyo 80.4% Greater Tokyo 45.8% Greater Nagoya 4.4% Area breakdown Greater Osaka 9.3% Other 15.2% Greater Nagoya Greater Osaka Other 5.7% 8.2% Greater Nagoya Greater Osaka 3.6% Greater Nagoya 4.7% Greater Tokyo 11.2% Other 11.4% 4.6% Greater Osaka 9.1% Other 17.7% 82.3% Other 40.3% (Note) NOI yield is based on actual NOI for the period ended Feb. 2017 and appraisal NOI for the new acquisitions in Apr. 2017. Portfolio by Asset Class (acquisition price basis) // Portfolio by Area Portfolio by Property Age (acquisition price basis) (acquisition price basis) Logistics 260,119 mil yen 44.7% Greater Tokyo area 71.1% Less than 5 years 18.8% Residential Core Three Greater Nagoya 259,754 mil yen Assets 98.0% major metropolitan area 44.7% areas Retail 50,330 mil yen 84.8% 8.7% Other 11,480 mil yen 4.4% Greater Osaka area 9.3% Other areas 15.2% Less than 10 years 55.0% 5 to less than 10 years 36.2% 10 years or more 45.0% 2.0% 10

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