Mitsubishi Estate : New Targets of JPY 10 trillion of AuM and JPY 30 billion of Operating Income by FY2030 Set for Investment Management Business - Global Platform "Mitsubishi Estate Global Partners" also Launched -

March 6, 2023

PRESS RELEASE

Mitsubishi Estate Co., Ltd.

New Targets of JPY 10 trillion of AuM and JPY 30 billion of Operating Income by

FY2030 Set for Investment Management Business

- Global Platform "Mitsubishi Estate Global Partners" also Launched -

Mitsubishi Estate Co., Ltd. (MEC) has positioned the non-asset business as one of the growth areas under the "Long-Term Management Plan 2030," beginning from FY2020, and aims to further expand the Investment Management Business*1 as a key driver of the non-asset business.

Having achieved the Long-Term Management Plan's AuM (Assets under Management) mid-2020s target of JPY

5 trillion ahead of schedule in the second quarter of FY2022, MEC has now set new AuM and operating income targets. With AuM of JPY 10 trillion and operating income of JPY 30 billion in the Investment Management Business set as new FY2030 targets, the Mitsubishi Estate Group (the Group) aims to establish itself as one of the top global firms in the real estate investment management industry.

End of FY2019

AuM: JPY 3.6 trillion

Operating income: JPY 4.4

billion

End of FY2022

AuM: JPY 5.5 trillion

Operating income: JPY 10

billion (forecast)

*Above AuM is as of the end of the second quarter.

End of FY2030

AuM: JPY 10 trillion (target)

Operating income: JPY 30

billion (target)

In the Investment Management Business, the Group has enhanced the products and services it offers to investors globally, including a core open-ended fund in Asia Pacific last October, in addition to its funds in Japan, the United States, and Europe. MEC has built a global platform linking its regional platforms in Japan, the United States, Europe, and Asia Pacific, which is named as "Mitsubishi Estate Global Partners," to further accelerate global business growth in the future. Going forward, the Group will expand the Investment Management Business under the global "MEGP" brand, whilst maintaining the well-established brands of each regional platform.

MEGP website:https://www.mecglobalpartners.com/

Whilst the brands of the regional platforms of Mitsubishi Estate Global Partners will continue to be respected, MEGP is positioned as an umbrella brand pursuant to which the Group will continue to provide professional knowledge and services as a partner to meet the global real estate investment needs of institutional investors and other clients worldwide. Going forward, the Group will promote the Investment Management Business and the products managed and offered by each regional platform under the MEGP brand.

*1 Leveraging specialist knowledge to offer a wide range of services to real estate investors, including public/private REITs which meet needs for long-term stable investment, and private funds which meet the specific investment needs of institutional investors. Conducting business through collaboration between platforms in Japan, the United States, Europe and Asia Pacific.

The aim of this release is to provide information on the business operations of the Mitsubishi Estate Group, and not to solicit investment.

Regional Platforms of Mitsubishi Estate Global Partners https://www.mec.co.jp/en/service/investment/

■ Japan Real Estate Asset Management Co., Ltd.(Japan)

Established in 2000. Asset management company for Japan Real Estate

Investment Corporation, the first J-REIT listed on the Tokyo Stock Exchange in

September 2001. Invests mainly in core-type office buildings.

■ Mitsubishi Jisho Investment Advisors, Inc.(Japan)

Established in 2001. Provides a wide range of real estate investment products for institutional investors globally, including a private REIT, Nippon Open- Ended Real Estate Investment Corporation; a listed logistics REIT, Mitsubishi Estate Logistics REIT Investment Corporation; and private funds for various needs.

• TA Realty(United States)

Founded in 1982. One of the leading real estate investment management firms in the United States, providing diverse products including commingled value- added funds, a core open-ended fund "TA Realty Core Property Fund" launched in 2018, and various real estate funds and separate accounts investing in logistics, multifamily properties, offices, retail and data centers in major cities across the United States. Became a consolidated subsidiary [by M&A] in 2015.

■ Europa Capital(Europe)

Founded in 1995. Expanding business throughout Europe from a base in the United Kingdom, managing commingled value-added funds, a core open-ended fund "the Europa Diversified Income Fund", as well as separate accounts investing in offices, multifamily properties, retail and logistics. Became a consolidated subsidiary by M&A in 2010.

■ MEC Global Partners Asia(Asia Pacific)

Established in 2017. Based in Singapore, manages a core open-ended fund, value-added funds, as well as separate accounts investing in real estate located in key gateway cities in Asia Pacific.

[Breakdown of AuM at end of 2nd quarter of FY2022 (JPY 5.5 trillion)]

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