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Investor Presentaiton

Maren Building Fund 4-3 Property Management Strategy (1/2) - Organization & Additional Investment NBF We use the comprehensive capabilities of the Mitsui Fudosan Group and strategically make additional investments. ■ Property Management Structure Formulate & execute management & operation plans • . Formulate & execute large-scale repair plans • Approval for major issues Strategic Additional Investment with Clear Objectives Set building grades based on the revenue performance and potential of each property Formulate and execute investment plans according to building grade Nippon Building Fund Management 【AM exclusive to NBF) Cooperation NBF Office Management 【PM exclusive to NBF] Mitsui Fudosan • New tenant leasing • Provides management and operation . expertise and operating systems Overall management of subleased properties Ratio of Capex to Depreciation and Amortization (Actual) (%) (million yen) --Ratio of capex to depreciation (left scale) 50 5,000 Capex (right scale) 40 36.6 39.9 37.2 4,000 32.5 31.6 30 28.6 30 2,839 3,000 25.4 2,655 23.3 2,268 2,329 20 20 1,980 1,703 1,646 2,232 2,000 10 10 The three companies leverage their respective strengths and maintain and increase the competitiveness, occupancy rates and rents of portfolio properties through close cooperation. 0 2H/20121H/20132H/20131H/20142H/20141H/20152H/20151H/2016 23rd 24th 25th 26th 27th 28th 29th 30th Period Period Period Period Period Period Period Period 27 1,000 0
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