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Analyst Coverage

(As of April 21, 2016)

The following is a list of analysts that provide recommendations or coverage regarding the business results of ORIX JREIT.

Companies are listed in alphabetical order.

Company Analyst
Daiwa Securities Co. Ltd. Kohei Omura
Goldman Sachs Japan Co., Ltd. Sachiko Okada
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. Norihiko Sawano
Mizuho Securities Co., Ltd. Yosuke Ohata
Nomura Securities Co., Ltd. Tomohiro Araki
SMBC Nikko Securities Inc. Hiroshi Torii
UBS Securities Japan Co., Ltd. Junichi Tazawa

■Disclaimer
This list is based on information available to ORIX JREIT and the asset management company of ORIX JREIT (hereafter “asset management company”) at the time of publication, and is prepared according to the guidelines of ORIX JREIT and its asset management company. Consequently, the list may not be comprehensive or the information may be out of date by the time you read it.

Analysts included in this list and others not listed are engaged in providing analysis relating to the business results of ORIX JREIT and its business, or projecting the future business results of ORIX JREIT, based on judgments made independently by the analyst either periodically or on ad hoc basis. Neither ORIX JREIT nor its asset management company, or their respective management teams, have had any part whatsoever in the process by which analysts form their analysis or projections. ORIX JREIT and its asset management company do not in any way endorse or provide assurances concerning the projections, opinions or recommendations made by analysts.

This list is provided solely for the purpose of providing investors with information concerning companies and analysts who provide analysis or projections relating to the business results of ORIX JREIT. It does not constitute a solicitation to invest in ORIX JREIT.

Any investment decisions you make ultimately rest on your own judgment and are your own responsibility.

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