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Mitsui Fudosan Accommodations Fund Inc. 41st Period Investor Presentation March 1, 2026 – August 31, 2026 Mitsui Fudosan Accommodations Fund Management Co., Ltd. October 20, 2026

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1 The Highest Credit Ratings Among Residential J-REITs Summary of MAF *1 Percentage of portfolio in Tokyo 23 Wards is based on acquisition price for ”Rental Apartments” only. Percentage of single and compact units is based on units for “Rental Apartments” only. *2 “Occupancy rate” is the average month-end occupancy rate during the 41st Period. *3 The results of GRESB assessment for 2026 is shown. *4 Green Building Certification percentage is calculated based on gross floor area. Features 1. Investments in Accommodation Assets, Primarily “Rental Apartments” 2. Leveraging the Mitsui Fudosan Group's Value Chain Portfolio Summary JPY 355.6 billionTotal Acquisition Price 143No. of Investment Properties 13,925 unitsTotal Rentable Units 88.6%Portfolio in Tokyo 23 Wards*1 83.1%Percentage of Single and Compact Units*1 Financial Summary JPY 173.2 billionTotal Interest-Bearing Debt 51.7%LTV 32.5%Appraisal LTV 98.8%Long-Term Debt Ratio 0.87%Weighted-Average Interest Rate 4.2 yearsDuration of Long-Term Debt AA－ R&ICredit Rating Focused Investment in Tokyo 23 Wards Primarily Single and Compact Units 97.2%High Occupancy Rate*2 ESG Summary Acquired for 11 buildings Green Building Certification*41 Star*3/Green StarGRESB 33.5% of portfolio certified (End of the 41st Period; as of August 31, 2026) Seek to secure stable earnings and steadily grow assets under management from a medium- to long-term perspective with the aim of maximizing unitholder value

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2 Sold 2 Properties/ JPY 2.8 billion （in the 41st Period） Total 4 Properties / JPY 8.0 billion Acquired 2 Properties / JPY 4.7 billion Weighted-Average Interest Rate 0.87％ Duration of Long-Term Debt 4.2 years LTV 51.7％（Appraisal LTV 32.5%） 41st Period Summary 41st Period JPY 2,445 (JPY +48 from forecast*1) P.15 Distribution per Unit *1 The forecast distribution per unit for the 41st Period stated in the financial results report dated April 16, 2026, was JPY2,397. Financial Strategy * 2 The forecast average month-end occupancy rate during the 41st Period stated in the financial results report dated April 16, 2026, was97.5 %. Occupancy Rate Average Month-End Occupancy Rate 97.2% ( -0.3 points from forecast*2) Rent Trends Rent Change at Tenant Turnover +15.2% Rent Change at Renewal +2.9% Internal Growth P.16 ~ P.22 External Growth P.30 P.31 Acquired 2 Properties / JPY 3.2 billion （in the 42nd Period） P.23 ~ P.26 Long-Term, Fixed-Rate Debt Ratio 81.1％ 2 Properties / JPY 4.8 billion Strategic Asset Recycling

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Mitsui Fudosan Accommodations Fund Inc. 41st Period Investor Presentation March 1, 2026 – August 31, 2026 Mitsui Fudosan Accommodations Fund Management Co., Ltd. October 20, 2026

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9 ■ Rents continue to rise, particularly in Tokyoʼs 23 wards, and we will continue to actively promote internal growth ■ A portfolio matched to the environment surrounding MAF Future Operating Policy 2.0 Continuous, Active Internal Growth ■ Ratio of Rental Apartments by Area Tokyoʼs 23 wards are the main areas Ongoing Wage Growth for people in their 20s and 30s Portfolio composed primarily of single and compact units ⇒ Tenants in their 20s and 30s are the largest segments ① Maintain high occupancy (shorten downtime) ② Actively pursue rent upside at tenant turnover ③ Also, maximize one-time revenue (key money, etc.) Strategically aim to achieve optimal mix 1. Actively manage portfolio around tenant turnovers ２．Strengthen policy of assertive positive rent reversions at renewal Steady tenant contract renewals (receive renewal fees) Collaborate closely with PM to lock in further upside Continue value-enhancement investment at Okawabata Apartment Communities Renovations to private areas of Park Cube Kameari and Koiwa 3. Boost profitability by improving private areas Continue increasing portfolio income and profit People in their 20s continue to move to Tokyoʼs 23 wards ■ Internal growth activity approach 15.8 14.4 13.0 10.5 8.4 5.0 -1.3 6.6 ■ Change in scheduled wages by age bracket (university graduates) Change between 2020 and 2025 (%) 60,329 75,160 85,219 84,145 77,622 -68,312 -55,273 -37,628 -29,804 -32,974 20s Non-20s (people) ■ Net in-migration to Tokyoʼs 23 wards 20252024202320222021 Source: MIC, Annual Rpt. on Internal Migration in Japan Derived from Basic Resident Registers Source: Ministry of Health, Labour and Welfare “Basic Survey on Wage Structure” ■ Ratio of Rental Apartments by Category Tokyo CBD 29.7% Tokyo 23 Wards excluding Tokyo CBD 58.9% Greater Tokyo 4.8% Other Major Cities 6.6% *1 Single 41.8% Compact 41.3% Family 12.8% Large 4.1% Limited supply of rental housing 36,925 41,787 41,598 36,555 37,842 (unit) ■ No. of rental apartment unit construction starts in Tokyo 20252024202320222021 Pursue upsides such as incidental income and parking area usage fees Increase rents when renewing contracts, etc. for hospitality facilities 4． Initiatives to Capture Further Upside (As of the end of the 41st Period, acquisition price basis) (As of the end of the 41st Period, unit basis ) *1 Tokyo CBD (Central Business District) includes Minato, Chuo, and Chiyoda wards. *1 Tokyo CBD (Central Business District) includes Minato, Chuo, and Chiyoda wards. * Calculations above do not include figures for retail units and Hospitality Facilities. * Please refer to page 38 for definition of respective category. * Calculations above do not include figures for retail units and Hospitality Facilities. * Please refer to page 38 for definition of respective category. 55 to 59 50 to 54 45 to 49 40 to 44 35 to 39 30 to 34 25 to 29 20 to 24 Source: MLIT, Statistical Survey of Construction Starts

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12 Internal growth + Strategic asset recycling ⇒ Ongoing DPU growth (annual average of over 3%) Future Operating Policy 2.0 Outlook for Distributions for the 42nd and 43rd Periods ■ Growth in Distributions per Unit: Actual Results for the 40th P eriod / Forecast for the 42nd Period ■ Target distribution growth by capturing upside from future internal and external growth, alongsideproperty sales and the return of gains on sales, while distribution forecasts for the 42ndand 43rd periods assumedistribution growth (+3%/year)based on the drawdown of retained earnings. Actual results 40th Period (Feb. 2026) Distributions (EPU) 2,381 Forecast 42nd Period (Feb. 2027) Average Annual Growth : +3% Forecast 43rd Period (Aug. 2027) (Units: JPY) Actual results 41st Period (Aug. 2026) Property Sales under Strategic Asset Recycling ＋114 Internal growth External growth +77 ▲161 STAYAT OSAKA SHINSAIBASHI east ▲14 Utility expenses ▲11 Other internal growth ＋139 Interest rates and others +69 Distributions (DPU) 2,453 Distributions Distributions (EPU) 2,406 Average Annual Growth : +3% Property Sales under Strategic Asset Recycling Distributions (DPU) 2,445 ＋113 Internal growth External growth +25 ▲183 Interest rates and others +120 Distributions (EPU) 2,359 Distributions (DPU) 2,479 Distributions Distributions (EPU) 2,384 Distributions (DPU) 2,405 Drawdown of retained earnings Drawdown of retained earnings ▲27 Properties sold in the 40th and 41st Period 40th/41st/42nd Periods: Acquisitions ▲2 Utility expenses ▲15 Other internal growth ＋128 41st/42nd Periods: Acquisitions Properties sold in the 41st Period Or ,return of gains on sales through future property sales, etc. ■ Growth in Distributions per Unit: Actual Results for the 41st Period / Forecast for the 43rd Period Excludes future external growth Uplift from internal growth Additional returning of gains on sale Excludes future external growth Uplift from internal growth Additional returning of gains on sale Or ,return of gains on sales through future property sales, etc. The Bank of Japan is envisioned as raising its policy interest rate a third time (increase to up to 2.0%) by the end of August 2027 The Bank of Japan is envisioned as raising its policy interest rate a third time (increase to up to 2.0%) by the end of August 2027

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15 Financial Highlights (41st Period: March 2026 – August 2026) *1 The forecast for the 41st Period are the figures announced in the financial results report (excluding LTV) dated April 16, 2026. *2 Calculated based on units outstanding at the end of the period. *3 Acquisition-related expens es and property tax are not included. Comparison with the 40th Period 40th Period (Actual results) (Ended Feb. 28, 2026) ③ Comparison with Forecast41st Period (Actual results) (Ended Aug. 31, 2026) ② 41st Period (Forecast)*1 (Ended Aug. 31, 2026) ① NotesChange ②－③NotesChange ②－① (JPY million) Revenues +865 Existing properties +264 Full-period operation of properties acquired in the 40th Period +37 Properties sold in the 40th Period -32 Properties acquired in the 41st Period +173 Properties sold in the 41st Period -55 Gain on sold of properties that occurred in the 40th And 41st Period +476 Operating expenses +233 Rental expenses +139 Real estate taxes +11 Depreciation and amortization -12 Asset management fees +80 Other expenses +15 Non-operating income +8 Non-operating expenses +157 Interest expense, etc. +157 ＋86513,727 (JPY million) Revenues -1 Existing properties -10 Properties acquired in the 41st Period +24 Properties sold in the 41st Period +0 Gain on sold of properties that occurred in the 41st Period -15 Operating expenses -108 Rental expenses -102 Real estate taxes +5 Depreciation and amortization +1 Asset management fees +6 Other expenses -19 Non-operating income +26 Insurance income, etc. +13 Interest income +12 Non-operating expenses -4 Interest expense, etc. -4 -114,59214,593Total Revenues +6316,893＋1077,5247,417Operating Income +4826,353＋1386,8356,696Net Income +382299＋21681660 Internal reserves︓ Reserve for Tax Purpose Reduction Entry +192 yen 2,523 yen ＋55 yen 2,715 Yen 2,660 yen Net Income per Unit*2 +40 Yen 2,405 Yen ＋48 yen 2,445 Yen 2,397 yen Distribution per Unit －2,517,360 units－2,517,360 units 2,517,360 units Units Outstanding ＋6,000349,695＋1,620355,695354,075 Total Acquisition Price*3 AUM +2 Properties 141 properties +1 Property 143 Properties 142 Properties No. of Investment properties -0.4 Points 97.6 ％ -0.3 Points 97.2 ％ 97.5 ％ Average Month- End Occupancy Rate +0.4 Points 51.3 ％ +0.3 points 51.7 ％ 51.4 ％ LTV (At the end of the Period) (JPY million)

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16 97.1% 95.4% 96.8% 94.3% 95.6% 94.5% 95.4% 95.6% 95.8% 95.7% 95.9% 95.9% 96.1% 95.7% 96.3% 95.7% 96.1% 95.9% 96.4% 96.4% 96.8% 96.7% 97.6% 97.3% 97.7% 97.7% 97.7% 96.8% 96.4% 96.2% 96.8% 96.5% 97.0% 96.9% 97.1% 96.8% 97.5% 97.3% 97.6% 97.2% 92% 94% 96% 98% 100% Internal Growth / Historical Occupancy Rates Occupancy rates remain consistently high  Change in Month-End Occupancy Rates  Period Average Occupancy Rate Since the Listing * Period average month-end occupancy rates indicate figures for the entire portfolio including hospitality facilities. *1 Period average month-end occupancy rate for the 2nd Period is a figure for the period after the listing (from August 31, 2006, to February 28, 2007). 20262025202420232022202120202019201820172016201520142013201220112010200920082007 End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. 41st Period 40th Period 39th Period 38th Period 37th Period 36th Period 35th Period 34th Period 33rd Period 32nd Period 31st Period 30th Period 29th Period 28th Period 27th Period 26th Period 25th Period 24th Period 23rd Period 22nd Period 21st Period 20th Period 19th Period 18th Period 17th Period 16th Period 15th Period 14th Period 13th Period 12th Period 11th Period 10th Period 9th Period 8th Period 7th Period 6th Period 5th Period 4th Period 3rd Period 2nd *1 Period 97.4％ 97.5％ 97.5％ 97.3％ 97.6％ 98.0％ 98.0％ 97.1％ 97.1％ 97.2％ 97.1％ 96.9％ 97.2％ Sep. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep.2 42nd Period Sep. 2026 41st Period Mar. 2026 – Aug. 2026 40th Period Sep.2025 - Feb. 2026

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17 0.9% 1.2% 2.3% 0.7% -2.4% -9.3% -8.5% -6.2%-4.3% -3.8%-3.5%-2.8%-1.8%-1.3%-0.9%-0.8% 0.1% 0.7%1.0%1.3%1.9%2.6% 3.5%4.4% 5.8%6.5%7.0% 6.7% 3.2% 2.0% 0.8% 2.1% 3.5%4.0%5.6% 5.7% 7.7% 13.3% 15.6% 15.2% -10.0% -6.0% -2.0% 2.0% 6.0% 10.0% 14.0% 18.0% Internal Growth / Rent Trends at Tenant Turnover（1） ■ Percentage of Units with Rent Changes at Tenant Turnover and Rent Gap 2.6% 2.8%3.6% 5.9% 93.8% 91.3% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 40th Period (Feb. 2026) 41st Period (Aug. 2026) Raise rents on more than 90% of the units subject to tenant turnover  Change in Rent of Rental Apartments at Tenant Turnover 41st Period (Aug. 2026) 40thPeriod (Feb. 2026) 39thPeriod (Aug. 2025) 38thPeriod (Feb. 2025) units11,755units11,653units11,664units11,625 units1,093units1,048units1,154units1,080 units997units983units1,068units934 units65units38units50units80 units31units27units36units66 25,61224,65722,83213,000 25,800 24,80322,95213,267 Average rate of increase: 16.7% -188 -145-120-266 Average rate of decrease: -3.5% %15.2%15.6%13.3%7.7 Tenant Turnover Total Rentable Units*1 No. of Units*1 Rent Increase Rent Unchanged Rent Decrease Monthly Rent Net Change Rent Increase Rent Decrease Percentage Change (JPY thousand) * Continual renewal contracts under the periodic tenancy agreement are excluded from tenant turnover and counted as renewals. * Calculations above do not include figures for retail units and Hospitality Facilities. *1 "Total Rentable Units" and "No. of Units" of properties (co-ownership interest owned) are calculated by multiplying MAFʼs interest rate, rounded to the nearest specified unit. * Continual renewal contracts under the periodic tenancy agreement are excluded from tenant turnover and counted as renewals. * Calculations above do not include figures for retail units and Hospitality Facilities. *1 "Total Rentable Units" and "No. of Units" of properties (co-ownership interest owned) are calculated by multiplying MAFʼs interest rate, rounded to the nearest specified unit. Rent increase Rent unchanged Rent decrease  Percentage Change in Rent at Tenant Turnover Portion contributing to rent increase Portion contributing to rent decrease Percentage change in rent at Tenant Turnover 20262025202420232022202120202019201820172016201520142013201220112010200920082007 End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. 41st Period 40th Period 39th Period 38th Period 37th Period 36th Period 35th Period 34th Period 33rd Period 32nd Period 31st Period 30th Period 29th Period 28th Period 27th Period 26th Period 25th Period 24th Period 23rd Period 22nd Period 21st Period 20th Period 19th Period 18th Period 17th Period 16th Period 15th Period 14th Period 13th Period 12th Period 11th Period 10th Period 9th Period 8th Period 7th Period 6th Period 5th Period 4th Period 3rd Period 2nd Period Rent Gap (Reference date: June 30, 2026) 13.6％ <Reference> * The rent gap is calculated by determining the total of the envisioned lease amounts (the target rent set for each unit by Mitsui Fudosan Accommodations Fund Management, assuming that new tenants are sought and the units are leased to such new tenants, for all units in the rental residences owned by MAF as of the reference date), determining the total rent roll rent as of the reference date, calculating the gap between these two values, and dividing it by the rent roll rent total as of the reference date.

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20 0.2% 0.1% -0.0% 0.0% -0.2% -0.4% -0.8% -1.0% -0.9% -0.5% -0.6% -0.4% -0.6% -0.5% -0.4% -0.1%-0.0% 0.0% 0.0% 0.1% 0.2% 0.1% 0.2% 0.1% 0.2%0.3% 0.6% 0.6% 0.5%0.3% 0.2% 0.1%0.1% 0.3% 0.5% 0.4% 0.6% 0.9% 1.9% 2.9% -1.1% -0.7% -0.3% 0.1% 0.5% 0.9% 1.3% 1.7% 2.1% 2.5% 2.9% 3.3% 3.7% Internal Growth / Rent Trends at Renewal  Change in Rent of Rental Apartments at Renewal  Percentage of Units with Rent Changes when Renewing Leases, Percentage Approached and Acceptance Rate * Continual renewal contracts under the periodic tenancy agreement are excluded from tenant turnover and counted as renewals. * Calculations above do not include figures for retail units and Hospitality Facilities. *1 “Total Rentable Units” and “No. of Units” of properties (co-ownership interest owned) are calculated by multiplying MAFʼs interest rate, rounded to the nearest specified unit. (JPY thousand) Renewal Total Rentable Units*1 No. of Units*1 Rent Increase Rent Unchanged Rent Decrease Monthly Rent Net Change Rent Increase Rent Decrease Percentage Change 41st Period (Aug. 2026) 40th Period (Feb. 2026) 39th Period (Aug. 2025) 38th Period (Feb. 2025) units11,755units11,653units11,664units11,625 units2,449units1,900units2,378units1,853 units968units573units429units353 units1,481units1,327units1,949units1,499 units 0units 0units 0units 0 10,7105,7553,2321,692 10,710 5,7553,2321,692 Average rate of increase: 6.6% 0 000 Average rate of decrease: － %2.9%1.9%0.9%0.6 Rent increase Rent unchanged Rent decrease  Percentage Change in Rent at Renewal Percentage change in rent at renewal Portion contributing to rent increase Portion contributing to rent decrease Record high reversion rate for units at renewal 20262025202420232022202120202019201820172016201520142013201220112010200920082007 End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. End of Aug. End of Feb. 41st Period 40th Period 39th Period 38th Period 37th Period 36th Period 35th Period 34th Period 33rd Period 32nd Period 31st Period 30th Period 29th Period 28th Period 27th Period 26th Period 25th Period 24th Period 23rd Period 22nd Period 21st Period 20th Period 19th Period 18th Period 17th Period 16th Period 15th Period 14th Period 13th Period 12th Period 11th Period 10th Period 9th Period 8th Period 7th Period 6th Period 5th Period 4th Period 3rd Period 2nd Period Results after the policy change at renewal Average for May-August 2026 3.5％ * Offer Rate: Approached for Rent increases ÷ Renewal Units Acceptance Rate: Rent increases ÷ Approached for Rent increases 0.0% 0.0% 69.8% 60.5% 30.2% 39.5% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 40th Period (Feb. 2026) 41st Period (Aug.2026) 41st period40th period 50.3％34.5％ Offer Rate 78.6％87.5％ Acceptance Rate <Rent Increases>

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23 External Growth: Results since “Future Operational Policies” (38th Period) *2 Average property ages are the averages of the ages of properties as of the date of acquisition or the date of sale, weighted by the acquisition price. *1 NOI as recorded in appraisal report Acquisition strategy that supports external growth Effects of External Growth 40th period Park Cube Kinshicho 40th period Park Cube Ueno Sakuragi 40th period Park Axis Takamiya Higashi 41st period Park Cube Hachioji Recently built, family-type property 42nd period Park Cube Omori Sanno 42nd period Park Cube Nakano North Recently built, Tokyo 23 Wards 38th period Park Cube Kameari 39th period Park Cube Koiwa 41st period Park Axis Nishi Magome 41st period Park Axis Tsukishima 41st period Dormy Nishi Ogikubo 41st period Park Axis Oshiage Residence 41st period Campus terrace Kyudai-Gakkentoshi Inflation-resistant (leases with rent discussion conditions) 39th period STAYAT OSAKA SHINSAIBASHI east Variable rent Sale Sale Mutual transactions Returning of gains on sale +8properties, +17.6 billion yen (+145 properties, 360.4 billion yen) [Breakdown] ・Sponsor: ＋1 property, +3.7 billion yen (3 property acquisitions and 2 property sales) ・AMʼs own route: ＋7 properties, ＋13.9 billion yen （8 property acquisitions and 1 property sale） No. of properties (Total no. of properties) AUM (Total acquisition price) ※Based on Acquisition Price ＋704 million yen [Breakdown] ・Sponsor: +136 million yen ・AMʼs own route: +568 million yen NOI*1 Acquisition: 6.7 years*2 Sale: 25.3 years*2Average Property Age 88.7％（＋0.2％）Percentage located in Tokyoʼs 23 wards * Rental residences only 1.3 billion yenGain on sale Decline in Average Property Age Increase in the Tokyo 23 Wards Ratio AMʼs own route AMʼs own route AMʼs own route AMʼs own routeAMʼs own route AMʼs own route AMʼs own routeSponsor Sponsor Value enhancement-type property 2. Acquisition through strategic asset recycling 1. Selective acquisition of properties with significant upside potential Improvement in Rental Income 3. Acquisition of hospitality facilities with upside potential Mutual transactions *Assumptions for the end of the 42nd Period *Assumptions for the end of the 42nd Period

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24 External Growth Properties Acquired in 41st Period① Acquire recently built Rental Apartments (Park Axis) in Tokyo 23 wards through the Mitsui Fudosan Group *1 “Appraisal Value” refers to the appraisal value stated in the real estate appraisal report as of the acquisition. *2,3 “NOI” refers to net operating income stated in the real estate appraisal report as of the acquisition. / NOI Yield＝NOI ÷ acquisition price×100 The same applies on pages 25 and 26. Ota-ku, TokyoLocation April 9, 2026Acq. Date February 28, 2019Completion Date 9-minute walk from Nishi-Magome Station, Toei Asakusa LineAccess 50 unitsRentable Units Primarily 1K unitsLayouts JPY 1,440 millionAcq. Price JPY 1,520 millionAppraisal Value*1 4.2％ (NOI*3: JPY 59,915 thousands)NOI Yield*2 Sumida-ku, TokyoLocation April 9, 2026Acq. Date May 31, 2018Completion Date 9-minute walk from Honjo-azumabashi Station, Toei Asakusa LineAccess 49 unitsRentable Units Primarily 1LDK、２LDK unitsLayouts JPY 1,770 millionAcq. Price JPY 1,870 millionAppraisal Value*1 4.0％ (NOI*3: JPY 70,891 thousands)NOI Yield*2 ■Park Axis Oshiage Residence ■Park Axis Nishi Magome ・Property is located in a quiet residential area with many temples and shrines, including Ikegami Honmonji Temple ・Area around Nishi-Magome Station is highly convenient with many shopping streets and supermarkets ・ Oshiage Station, 10-minute walk from the property, is served by 4 lines: Tokyo Metro Hanzomon Line, Toei Asakusa Line, Keisei Oshiage Line and Tobu Skytree Line. The property is a highly convenient 6-minute walk from Tokyo Skytree Station・Tranquil neighborhood close to green space along the Sumida River and with a number of historic temples and shrines ・ Highly convenient, with multiple retail facilities in the area around Skytree Town, which is directly connected to Oshiage Station ・Highly rare property located near Nishi-Magome Station, which is the terminus for the Toei Asakusa Line ＜Property Features＞＜Property Features＞ Sponsor-developed Property Strategic Asset Recycling Tokyo Skytree Station Park Axis Oshiage Residence Nishi Magome Station Park Axis Nishi Magome

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25 External Growth Properties Acquired in 41st Period② Acquired recently built student condominium and recently built rental apartments through AMʼs own route ・ The property is a roughly 15- minute bicycle ride from Kyushu Universityʼs Ito Campus, so we anticipate steady rental demand from Kyushu University students・ The nearest station, Kyudai- Gakkentoshi Station, is highly accessible. It is 25 minutes away from Tenjin Station, with direct service, and 35 minutes from Fukuoka Airport ・ The area around the property is highly developed, and is particularly popular with families ■Campus terrace Kyudai-Gakkentoshi ・ This recently built rental property is a roughly 12-minute walk from Hachiōji Station, which is served by the JR Chuo Line, Hachiko Line, and Yokohama Line・ The surrounding area offers many amenities that make daily life more convenient, so we anticipate ongoing steady rental demand, primarily from families ・ Hachioji Station is accessible directly from Tokyo Station, without the need to change trains, so the propertyʼs location is highly convenientfor those commuting to central Tokyo Hachioji-shi, TokyoLocation June 5, 2026Acq. Date February 14, 2025Completion Date 12-minute walk from Hachiōji Station, JR Chuo LineAccess 33 unitsRentable Units Primarily 2LDK・3LDK unitsLayouts JPY 1,620 millionAcq. Price JPY 1,750 millionAppraisal Value 4.3％ (NOI: JPY 70,325 thousands)NOI Yield Nishi-ku, FukuokaLocation March 2, 2026Acq. Date March 13, 2024Completion Date 9-minute walk from Kyudai-Gakkentoshi Station, JR Chikuhi LineAccess Residential : 187 (1K type) retail : 5Rentable Units Long-term contract with fixed rents (Approx. 28 years remaining) After the first 5 years, the rent review clause is applicable every 2 years. Layouts (excluding rerail spaces) JPY 3,200 millionAcq. Price JPY 3,290 millionAppraisal Value 4.2％ (NOI: JPY 135,590 thousands)NOI Yield ■Park Cube Hachioji Kyudai-Gakkentoshi Station Campus terrace Kyudai-Gakkentoshi Hachiōji Station Park Cube Hachioji ＜Property Features＞＜Property Features＞ AMʼs own route

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26 External Growth Properties Acquired in 42nd Period Acquire recently built rental apartments with high rent upside potential through AMʼs own route J-REIT Acquisitions*5 ・ Sanno is one of Ota Wardʼs most iconic residential areas, with a highly rare location ・ Located around Omori Station with a concentration of commercial facilities and access to Tokyo Station in approx. 21 mins, offering high convenience for living and commuting ・ Primarily 1LDK units, with expected strong demand from single and DINK households Percentage Change in Rent per Tsubo for Rental Residences Owned by MAF, by JR Keihin-Tohoku Line Station*4 3.66% 5.26% 5.07% 2.00% 3.00% 4.00% 5.00% 6.00% その他23区⼤井町⼤森蒲⽥ Rents are anticipated to rise Tokyo wards other than Nakano Ward: 97.8% Nakano Ward: 2.2% Comparison of population distributions*6 14% 29% 30% 27% 12% 34% 29% 25% High concentration of young residents Nakano Ward23 Wards 0-19 20-39 40-59 60 and over This is the only acquired property whose closest station is Nakano Station ＜Property Features＞＜Property Features＞ Future rent upside Future rent upside Nakano-ku, TokyoLocation October 1, 2026Acq. Date March 9, 2023Completion Date 9-minute walk from Nakano Station, JR Chuo LineAccess 32 unitsRentable Units Primarily 1K unitsLayouts JPY 1,610 millionAcq. Price JPY 1,640 millionAppraisal Value 3.3％ (NOI: JPY 52,734 thousands)NOI Yield Ota-ku, TokyoLocation September 1, 2026Acq. Date January 31, 2025Completion Date 9-minute walk from Omori Station, JR Keihin-Tōhoku LineAccess 63 unitsRentable Units Primarily 1LDK unitsLayouts JPY 3,130 millionAcq. Price JPY 3,230 millionAppraisal Value 3.7％ (NOI: JPY 115,190 thousands)NOI Yield ■Park Cube Omori Sanno ■Park Cube Nakano North * 5 Figures for the past 10 years tabulated by Mitsui Fudosan Accommodations Fund Management Co., Ltd. based on Nikkei Real Estate Market Information (as of August 31, 2026) * 6 Figures tabulated by Mitsui Fudosan Accommodations Fund Management Co., Ltd. based on January 1, 2026 Basic Resident Register Population by Age Bracket (by Municipality) (Aggregate Total) statistics * 4 Percentage Change in Rent per Tsubo for Rental Residences Owned by the Investment Corporation, by JR Keihin-Tohoku Line Station (Track Record for the 40th and 41st Periods) ・ Located in the Nakano Station area with limited supply of rental residences, making it a highly rare property ・ Nakano Ward has a high proportion of young population and strong demand even from international students ・ Within 5 mins to Shinjuku Station and approx. 21 mins to Otemachi Station from Nakano Station ・ An area with growth potential, where large-scale redevelopmentis underway around Nakano Station AMʼs own route KamataOmoriOimachiOther 23 Wards JR Keihin-Tohoku Line Nakano Station Park Cube Nakano North Omori Station Park Cube Omori Sanno

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28 847 812 862 1,191 965 923 153 56 145 67 417 26 67 75 46 61 80 80 1,067 944 1,054 1,321 1,462 1,030 56.2% 48.9% 56.2% 71.0% 77.4% 55.3% 0 400 800 1,200 1,600 2,000 2,400 Capital Expenditures  Actual and Planned Capital Expenditures■ Ratio of Rental Apartments by Property Age Average property age 19.4 years (As of the end of the 41st Period,acquisition price basis) Less than 5 years 0.5% 5-10 years 7.5% 10-15 years 13.0% 15-20 years 43.2% 20 years or more 35.8% (JPY million) * Figures for the 42nd Period and 43rd Period are estimates and therefore are subject to change. They include accounting expenses.* Figures for the 42nd Period and 43rd Period are estimates and therefore are subject to change. They include accounting expenses. Before  Effect of Value-enhancement investment in Private Area at Okawabata Apartment Communities Change in Rent at Tenant Turnover (JPY thousand) No. of Units Rent Increase (Value-enhancement investment rooms) Rent Unchanged Rent Decreased Monthly Rent Net Change Percentage Change (Value-enhancement investment rooms) Value-enhancement investment for private areas of Okawabata Apartment Communities will continue, and large-scale repairs are currently underway. In other properties, there are plans to implement work such as large-scale repairs, patching up exterior walls repairs and renewing of automated parking. Plan 37.9% 33.6% 47.6% 48.8% 51.4% 56.0% 7.1% 7.0% 7.8% 14.7% 15.4% 18.5%9.9% 8.8% 9.2% 16.9% 18.2% 21.0% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% Percentage Change in Rent at Tenant Turnover 41st Period Aug. 2026 40th Period Feb. 2026 39th Period Aug. 2025 38th Period Feb. 2025 37th Period Aug. 2024 36th Period Feb. 2024 9 properties held by MAF located in Chuo Ward, Tokyo, excluding Okawabata Apartment Communities Units recently renovated among those at Okawabata Apartment Communities Other units at Okawabata Apartment Communities ■ Okawabata Apartment Communities are mostly comprised of family type units. ■ Earning capacity improved due to value-enhancement investment Capital Expenditure for Other Properties Percentage of Capital Expenditure to Depreciation Value-enhancement Investment for Private Areas at Okawabata Apartment Communities Other Capital Expenditure for Okawabata Apartment Communities 41st Period Aug. 2026 40th Period Feb. 2026 39th Period Aug. 2025 38th Period Feb. 2025 37th Period Aug. 2024 36th Period Feb. 2024 units18units22units26units41units28units23 units17units22units26units38units27units22 1,5881,6331,7791,8281,1641,129 units4units5units6units8units5units5 641675807922509530 units1units0units0units2units0unit1 units0units0units0unit1unit1units０ーーー-3-16ー 1,5881,6331,7791,8251,1481,129 %28.1%24.8%24.0%15.5%13.0%15.2 %56.0%51.4%48.8%47.6%33.6%37.9 43rd Period Aug. 2027 42nd Period Feb. 2027 41st Period Aug. 2026 40th Period Feb. 2026 39th Period Aug. 2025 38th Period Feb. 2025

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29 Green Building Certifications (CASBEE Certification for Real Estate)Ｅ GRESB Real Estate Assessment Sustainability Initiatives Environmental Performance Systematically installing LED lighting promotes energy saving and reduction of CO 2 emissions throughout our portfolio. LED lighting installation has been completed at all rental housing properties (123 properties). Installation of LED Lighting in Common Areas 《2026》 1 Star (As of August 31, 2026) Targets (Target year: 2030) Certification details Percentage of floor area certified 33.5% No. of properties 11 properties Green Building certified floor area as a percentage of the entire portfolio 40% (based on gross floor area) Targets (Target year: 2030) Third-party guarantee Obtain Independent Practitionerʻs Assurance Report by Deloitte Tohmatsu Sustainability Co., Ltd. for environmental performance data (results for 2025), such as CO 2 emissions from energy use. Installation of electricity meters In order to improve the coverage ratio for the energy consumed in private areas, installed an electricity meter to measure energy consumption at a total of 6 properties. Ｅ Introduction of Corporate Version of Hometown Tax Donation Program S The Asset Management Company made donations utilizing the Regional Revitalization Support Tax System (Corporate Version of Hometown Tax Donation Program). Recipients(FY2025) Services to Improve ConvenienceS Food truck Tanabata (Star Festival) event Mitsuiʼs Residential LOOP Residents can join a membership-based organization that offers one- stop residential-related services from the Mitsui Fudosan Group. Local CommunityS Collaborating in local events We are actively cooperating with management association activities at Okawabata Apartment Communities and working to help develop the local community. ・Mikasa City, Hokkaido ・・・ The ʻHybrid-Underground Coal Gasification (H-UCG)ʼ project, which aims to realize a decarbonized society by using the 700 million tons of coal buried beneath Mikasa City to produce and utilize hydrogen without emitting CO₂ into the atmosphere. *S o u r c e： Mikasa Citywebsite ・Minamisanriku Town, Miyagi Prefecture ・・・ An ecosystem conservation project aimed at restoring the seagrass beds in Shizugawa Bay, which were affected by the tsunami caused by the Great East Japan Earthquake, with the cooperation of local fisheries cooperatives, companies, and students. Purchasing FIT Non-Fossil Certificates FIT non-fossil certificates with tracking data were purchased for electricity usage in FY2025 for common areas of 2 properties. This essentially means we have introduced renewable energy. A rank Park Axis Nihonbashi Stage ▼For details of sustainability, please visit our website For details of environmental initiatives (https://www.naf-r.jp/english/esg/environmental/performance.html) For details of social initiatives (https://www.naf-r.jp/englis h/esg/social/communities.html) For details of governance initiatives (https://www.naf-r.jp/english/esg/governance/operation-system.html) CO2 emissions from energy use Reduction of 50% compared with the actual emissions in 2015 (based on intensity) CASBEE-Certified Properties Water consumption No increase in amount used in comparison with 2015 (based on intensity)

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31 3.3 3.4 3.4 4.1 4.2 4.7 4.9 4.8 4.3 4.3 4.2 4.3 4.3 4.2 4.2 4.4 4.4 4.6 4.6 4.8 4.9 4.9 4.7 4.7 4.4 4.3 4.1 4.1 4.0 4.2 1.25% 1.24% 1.11% 1.09%1.02%0.95% 0.87% 0.85%0.84%0.78% 0.76%0.72% 0.67% 0.63%0.61%0.59% 0.57% 0.55%0.54%0.52%0.51%0.49% 0.48% 0.48%0.49% 0.49%0.54% 0.62% 0.72% 0.87% 0 1 2 3 4 5 6 0.0% 0.5% 1.0% 1.5% 2.0% 1.0 2.0 2.0 1.0 13.0 9.0 14.0 12.0 8.0 12.5 7.0 6.0 11.0 9.0 5.0 8.5 6.7 7.5 2.0 7.0 4.5 2.0 3.5 1 2.0 2 3.5 2 6.5 0 2 4 6 8 10 12 14 16 Financial Strategy and Credit Ratings (2)  Change in Period-End Weighted Average Interest Rate and Duration of Long-Term Debt (Years) Weighted average interest rate (left axis) Duration of long-term debt (right axis)  Long-Term Interest-Bearing Debt Maturity Ladder 41st Period Maturities (Long-Term) billionJPY 13.5Repayment total %0.46Average interest rate years5.6Average maturity 41st Period Funding (Long-Term) billionJPY 17.0Funding total %1.60Average interest rate years8.0Average maturity * Average interest rate is a weighted average of the interest rates on long-term interest-bearing debt. * Average maturity is a weighted average of the maturities of long-term interest-bearing debt. (JPY billion) Funded in the 41st Period (loans)Investment Corporation BondsLong-term loans 66th Period Feb. 2039 65th Period Aug. 2038 64th Period Feb. 2038 63rd Period Aug. 2037 62nd Period Feb. 2037 61st Period Aug. 2036 60th Period Feb. 2036 59th Period Aug. 2035 58th Period Feb. 2035 57th Period Aug. 2034 56th Period Feb. 2034 55th Period Aug. 2033 54th Period Feb. 2033 53rd Period Aug. 2032 52nd Period Feb. 2032 51st Period Aug. 2031 50th Period Feb. 2031 49th Period Aug. 2030 48th Period Feb. 2030 47th Period Aug. 2029 46th Period Feb. 2029 45th Period Aug. 2028 44th Period Feb. 2028 43rd Period Aug. 2027 42nd Period Feb. 2027 ----0.68%1.54%1.91%1.71%1.49%1.64%1.64%1.37%1.35%1.10%0.52%0.73%0.85%0.49%0.71%0.76%0.38%0.55%0.46%0.48%0.41%Average interest rate 41st Period Aug. 2026 40th Period Feb. 2026 39th Period Aug. 2025 38th Period Feb. 2025 37th Period Aug. 2024 36th Period Feb. 2024 35th Period Aug. 2023 34th Period Feb. 2023 33rd Period Aug. 2022 32nd Period Feb. 2022 31st Period Aug. 2021 30th Period Feb. 2021 29th Period Aug. 2020 28th Period Feb. 2020 27th Period Aug. 2019 26th Period Feb. 2019 25th Period Aug. 2018 24th Period Feb. 2018 23rd Period Aug. 2017 22nd Period Feb. 2017 21st Period Aug. 2016 20th Period Feb. 2016 19th Period Aug. 2015 18th Period Feb. 2015 17th Period Aug. 2014 16th Period Feb. 2014 15th Period Aug. 2013 14th Period Feb. 2013 13th Period Aug. 2012 12th Period Feb. 2012 31

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32 0.3 8.0 15.4 25.3 34.3 39.3 41.8 46.1 55.4 60.3 65.5 75.2 84.5 97.8 102.0 108.4 122.0 129.2 142.4 151.5 162.2 169.6 178.9 181.8 186.6 192.6 198.1 0.1% 3.0% 5.5% 9.0% 12.0% 13.9% 14.6% 16.3% 19.4% 21.3% 23.1% 26.4% 29.4% 34.2% 35.0% 37.1% 39.3% 41.8% 45.9% 49.1% 52.9% 54.8% 57.9% 58.7% 59.6% 61.2%61.7% -20% -10% 0% 10% 20% 30% 40% 50% 60% 70% 0 20 40 60 80 100 120 140 160 180 200 220 240 Unrealized Profit / Loss 41st Period Aug. 2026 40th Period Feb. 2026 39th Period Aug. 2025 38th Period Feb. 2025 37th Period Aug. 2024 36th Period Feb. 2024 35th Period Aug. 2023 34th Period Feb. 2023 33rd Period Aug. 2022 32nd Period Feb. 2022 31st Period Aug. 2021 30th Period Feb. 2021 29th Period Aug. 2020 28th Period Feb. 2020 27th Period Aug. 2019 26th Period Feb. 2019 25th Period Aug. 2018 24th Period Feb. 2018 23rd Period Aug. 2017 22nd Period Feb. 2017 21st Period Aug. 2016 20th Period Feb. 2016 19th Period Aug. 2015 18th Period Feb. 2015 17th Period Aug. 2014 16th Period Feb. 2014 15th Period Aug. 2013  Unrealized Profit / Loss and Unrealized Profit / Loss Ratio Unrealized Profit / Loss Ratio (right axis)Unrealized Profit (left axis) (JPY billion)  NAV per Unit* (JPY thousand)  Direct Capitalization Rate on Appraisal Value of Properties Owned at Period-End * NAV (net asset value) per unit = (Net assets – Total distribution + Unrealized profit or loss) / Units outstanding 55 58 61 65 70 72 73 75 79 81 83 87 91 97 98 101 106 109 114 118 123 125 129 130 132 134 137 0 20 40 60 80 100 120 140 160 41st Period Aug. 2026 40th Period Feb. 2026 39th Period Aug. 2025 38th Period Feb. 2025 37th Period Aug. 2024 36th Period Feb. 2024 35th Period Aug. 2023 34th Period Feb. 2023 33rd Period Aug. 2022 32nd Period Feb. 2022 31st Period Aug. 2021 30th Period Feb. 2021 29th Period Aug. 2020 28th Period Feb. 2020 27th Period Aug. 2019 26th Period Feb. 2019 25th Period Aug. 2018 24th Period Feb. 2018 23rd Period Aug. 2017 22nd Period Feb. 2017 21st Period Aug. 2016 20th Period Feb. 2016 19th Period Aug. 2015 18th Period Feb. 2015 17th Period Aug. 2014 16th Period Feb. 2014 15th Period Aug. 2013 5.1% 4.9% 4.8% 4.7% 4.5% 4.5% 4.5% 4.4% 4.3% 4.3% 4.3% 4.2% 4.1% 4.0% 4.0% 3.9% 3.8% 3.8% 3.7% 3.6% 3.5% 3.5% 3.4% 3.4% 3.4% 3.47% 3.47% 3% 4% 5% 6% 7% 41st Period Aug. 2026 40th Period Feb. 2026 39th Period Aug. 2025 38th Period Feb. 2025 37th Period Aug. 2024 36th Period Feb. 2024 35th Period Aug. 2023 34th Period Feb. 2023 33rd Period Aug. 2022 32nd Period Feb. 2022 31st Period Aug. 2021 30th Period Feb. 2021 29th Period Aug. 2020 28th Period Feb. 2020 27th Period Aug. 2019 26th Period Feb. 2019 25th Period Aug. 2018 24th Period Feb. 2018 23rd Period Aug. 2017 22nd Period Feb. 2017 21st Period Aug. 2016 20th Period Feb. 2016 19th Period Aug. 2015 18th Period Feb. 2015 17th Period Aug. 2014 16th Period Feb. 2014 15th Period Aug. 2013

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33 Forecasts (1) (42nd Period: September 2026 - February 2027) (43rd Period: March 2027 - August 2027) Comparison with the 42nd Period 43rd Period (Forecast) (Ending Aug. 31, 2027) ③ Comparison with the 41st Period42nd Period (Forecast) (Ending Feb. 28, 2027) ② 41st Period (Actual) (Ended Aug. 31, 2026) ① NotesChange ③－②NotesChange ②－① (JPY million)  Revenues +345 Existing properties +331 Full-period operation of properties acquired in the 42nd Period +13  Operating expenses +205 Rental expenses +175 Real estate taxes +17 Depreciation and amortization -26 Asset management fees +12 Other expenses +26  Non-operating expenses +201 Interest expense, etc. +201 +34514,272 (JPY million)  Revenues -665 Existing properties +116 Full-period operation of properties acquired in the 41st Period +39 Properties sold in the 41sth Period -12 Properties acquired in the 42nd Period +80 Gain on sold of properties that occurred in the 41st Period -888  Operating expenses -36 Rental expenses +32 Real estate taxes -1 Depreciation and amortization +28 Asset management fees -97 Other expenses +0  Non-operating income -26 Insurance income, etc. -13 Interest income -12  Non-operating expenses +178 Interest expense, etc. +178 -66513,92714,592Total Revenues +1397,036-6286,8967,524Operating Income -615,940-8336,0016,835Net Income －－-681 - －681 Reserve for Tax Purpose Reduction Entry Internal reserves -128-302-173 - -173－ Reversal for Tax Purpose Reduction Entry -25 yen 2,359 yen -331 yen 2,384 yen 2,715 Yen Net Income per Unit*1 +26 yen 2,479 Yen +8 Yen 2,453 Yen 2,445 Yen Distribution per Unit －2,517,360 Units－2,517,360 Units 2,517,360 units Units Outstanding －360,4354,740360,435355,695 Total Acquisition Price* 2 AUM －145 Properties +2 Property 145 Properties 143 Properties No. of Investment properties －97.1 ％ -0.1 points 97.1 ％ 97.2 ％ Average Month- End Occupancy Rate +0.1 points 52.3 ％ +0.5 points 52.2 ％ 51.7 ％ LTV (At the end of the Period) (JPY million) *1 Calculated based on units outstanding at the end of the period. *2 Acquisition-related expenses and property tax are not included.

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46 Okawabata Apartment Communities （1）パークサイドウイングス Okawabata River City 21 is fully appointed with various facilities that make everyday life more convenient and support the lives of residents. There are also a public elementary and junior high school operated by the ward within the same area, so families can watch their children grow up here. River Point Tower Park Side Wings  The luxury of living within 2 km of Tokyo Station Okawabata River City 21, located less than 2 km from Tokyo Station, offers exceptional transportation convenience, with easy access by train to other major areas near the heart of Tokyo, such as Ginza, Marunouchi, and Nihonbashi. Less than 7 minutes on foot from Tsukishima Station on the Tokyo Metro Yurakucho Line and the Toei Oedo Line Less than 13 minutes on foot from Hachobori Station on the Tokyo Metro Hibiya Line Location and access River Point Tower Park Side Wings Sports club Elementary and junior high school  A compact, smart living environment 1 Okawabata Apartment Communities Residence creating new residential value in central Tokyo Strategic management maintaining competitiveness Okawabata Apartment Communities is located within the “Okawabata River City 21” area which was redeveloped as a project for the private and public sectors by Mitsui Fudosan in the latter half of the 1980ʼs. Park Side Wings Park Side WingsRiver Point TowerProperty name 11-6, Tsukuda 1-chome, Chuo-ku, Tokyo, etc.Location 6-minute walk from Tsukishima Station on the Tokyo Metro Yurakucho Line and Toei Oedo Line 7-minute walk from Tsukishima Station on the Tokyo Metro Yurakucho Line and Toei Oedo Line Access July 1988March 1989Completion 14 stories above ground40 stories above ground and 2 underground storiesScale 154390Rentable units 2LDK-4LDK1LDK-4LDKLayout 30,816 million yen ※ Total of River Point Tower, Park Side Wings, Pier West and Okawabata Parking Acquisition price River Point Tower Restaurant nursery school Supermarket Supermarket

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47 Okawabata Apartment Communities （2） Community events Seasonal events such as New Year's, Halloween, and Christmas events are held to promote socialization between residents, and buildings are decorated with seasonal decor. There are also events held in conjunction with the local community, such as unicorn beetle catching and a firefly festival during the summer and a mochi rice cake-making event during the New Year's season. Okawabata parking lot entrance/exit  Dedicated underground parking with direct access to the residential buildings  Manned security system monitored 24 hours a day, 365 days a year The property has dedicated underground parking to keep out prying eyes and a manned, 24-hour security system. It fully protects the privacy of residents and ensures their safety by providing dependable security. It offers the added value that can only come from a large condominium. Security services T h eR i v e rP o i n tT o w e ra n dP a r kS i d eW i n g sb u i l d i n g s e a c hh a v et h e i ro w n front desk concierge standing by and provide attentive residential services. The Pier West House administrative building, also located on the property's grounds, provides various front desk services and has full-time, on-sitestaff that offers living services which address the needs of residents. Pier West House front desk Garbage collection service that collects garbage from the front doors of each residence unit With this service, which is offered four times a week, residents can simply put their garbage bags in front of their front doors and staff will collect them. Held package delivery service Packages which arrive when residents are out are held and later delivered to residents' front doors. English support The front staff speaks English, and important announcements are also made in English. Other Many other services are offered to meet residents' needs, such as selling disaster supplies, disposing of unwanted articles, sharpening knives, providing referrals to centers for the elderly, and searching for lost children. River Point Tower front desk  Exceptional privacy and dependable security  Enjoying the sense of security that comes from attentive care Each floor Elevators for each building Lobby floor Park Side Wings 24-hour manned monitoring system Security Center monitoring personnel 24 hours a day Management staff 10:00 a.m. to 5:00 p.m. Front desk concierge 8:00 a.m. to 8:00 p.m. The Security Center also operates on Sundays and holidays River Point Tower

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59 Balance Lender (JPY mn) Sumitomo Mitsui Trust Bank, Limited 2,000 1.22127% *4 2026.08.31 2026.11.30 3 month *1 *2 Total short-term loans 2,000 1,500 1.31127% *4 2016.07.29 2029.07.31 13.0 yearsLong-term loans 2,000 0.30000% 2021.11.30 2027.11.30 6.0 years Unsecured Unguaranteed Pari Passu *2 2,000 0.46200% 2022.09.30 2026.09.30 4.0 years 2,000 0.45200% 2023.05.31 2027.05.31 4.0 years 4,500 0.67500% 2024.02.29 2028.02.29 4.0 yearsLong-term loans 500 1.54600% 2025.03.03 2035.02.28 10.0 years 3,000 1.06900% 2025.05.28 2029.05.28 4.0 years 1,000 1.73200% *5 2026.02.27 2036.02.29 10.0 years 1,000 1.42627% *4 2026.07.31 2036.07.31 10.0 yearsLong-term loans 1,000 1.26627% *4 2017.08.14 2027.08.31 10.0 years 1,500 1.55700% *5 2023.08.31 2028.08.31 5.0 years 1,000 0.73500% 2024.10.01 2029.09.28 5.0 yearsLong-term loans 2,000 1.39200% 2025.09.30 2030.09.30 5.0 years Unsecured Unguaranteed Pari Passu *2 Long-term loans 1,000 0.50000% 2021.09.30 2031.04.30 9.5 yearsLong-term loans 1,000 0.53000% 2021.11.30 2031.11.28 10.0 years Unsecured Unguaranteed Pari Passu *2 Long-term loans 2,000 0.65000% 2022.05.31 2032.05.31 10.0 years *1 2,000 0.80000% 2022.11.30 2032.11.30 10.0 years *2 1,000 0.96800% 2024.05.31 2029.10.31 5.5 years *3 Long-term loans 2,000 0.18248% 2016.06.30 2027.12.30 11.5 years *7 Long-term loans 4,000 0.54779% 2017.10.18 2029.04.18 11.5 yearsLong-term loans 3,000 0.64293% 2019.04.19 2030.10.21 11.5 years Unsecured Unguaranteed Pari Passu *2 3,000 0.93000% 2023.04.11 2029.10.31 6.5 years 2,500 0.64000% 2024.02.06 2028.02.29 4.0 years 1,000 0.84400% 2024.08.06 2028.08.31 4.0 yearsLong-term loans 1,500 1.64700% 2025.04.01 2033.03.31 8.0 yearsLong-term loans 1,000 0.48000% 2021.04.09 2031.03.31 10.0 years Unsecured Unguaranteed Pari Passu *2 1,000 0.53000% 2021.06.28 2031.06.30 10.0 years 1,000 1.24300% 2024.09.17 2034.08.31 10.0 yearsLong-term loans 1,500 1.58700% *5 2026.05.29 2033.05.31 7.0 yearsLong-term loans 2,000 0.42456% 2018.09.28 2027.03.31 8.5 yearsLong-term loans 1,000 0.48000% 2020.08.31 2030.08.30 10.0 years Unsecured Unguaranteed Pari Passu *2 Long-term loans 1,000 0.48000% 2021.02.26 2031.02.28 10.0 years 1,000 0.53000% 2021.11.30 2031.11.28 10.0 years 1,000 1.66200% *5 2026.03.02 2036.02.29 10.0 yearsLong-term loans 2,500 1.42627% *4 2026.06.05 2036.05.30 10.0 years Unsecured Unguaranteed Pari Passu *2 1,000 0.36000% 2021.06.28 2028.06.28 7.0 years 2,000 0.68800% 2023.07.31 2031.07.31 8.0 yearsLong-term loans 1,000 1.07300% 2024.11.29 2030.11.29 6.0 years Hachijuni Nagano Bank, Ltd. Mizuho Bank, Ltd. The Chugoku Bank, Limited Development Bank of Japan Inc. Notes Sumitomo Mitsui Trust Bank, Limited NIPPON LIFE INSURANCE COMPANY Long-term loans Short-term loans Sumitomo Mitsui Banking Corporation Interest rate Issue date of loans Date of maturity Loan period Interest-Bearing Debt

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60 Long-term loans 1,000 0.53000% 2021.05.28 2031.05.30 10.0 years Unsecured Unguaranteed Pari Passu *2 Long-term loans 1,000 0.53000% 2021.06.28 2031.06.30 10.0 years Unsecured Unguaranteed Pari Passu *2 1,000 1.18600% 2023.01.19 2033.01.31 10.0 years 1,000 1.73200% *5 2024.05.28 2034.05.31 10.0 years 2,000 1.73200% *5 2024.05.31 2034.05.31 10.0 years 1,000 1.80600% 2025.08.29 2035.08.31 10.0 yearsLong-term loans 1,000 2.27500% 2026.01.13 2036.01.31 10.0 years Unsecured Unguaranteed Pari Passu *2 Long-term loans 2,000 0.38880% 2017.01.31 2027.01.29 10.0 years Unsecured Unguaranteed Pari Passu *2 Long-term loans 2,000 0.26930% 2019.01.31 2028.01.31 9.0 years Unsecured Unguaranteed Pari Passu *2 3,000 0.38178% 2019.06.28 2028.12.29 9.5 years 2,000 1.63591% *6 2025.01.31 2034.01.31 9.0 yearsLong-term loans 2,000 1.91690% *8 2025.07.31 2034.07.31 9.0 years Unsecured Unguaranteed Pari Passu *2 Long-term loans 2,000 0.43500% 2017.02.20 2027.02.26 10.0 years Unsecured Unguaranteed Pari Passu *2 Long-term loans 1,000 0.65000% 2020.01.08 2032.01.08 12.0 years Unsecured Unguaranteed Pari Passu *2 Long-term loans 1,000 0.45000% 2020.04.28 2029.10.31 9.5 years Unsecured Unguaranteed Pari Passu *2 1,500 0.68000% 2020.04.28 2032.04.30 12.0 years 1,000 1.66200% *5 2026.03.02 2036.02.29 10.0 yearsLong-term loans 2,000 1.56200% *5 2026.04.30 2032.04.30 6.0 years Unsecured Unguaranteed Pari Passu *2 Long-term loans 3,000 0.54500% 2017.04.25 2029.04.27 12.0 years Unsecured Unguaranteed Pari Passu *2 Long-term loans 2,000 0.48000% 2020.03.16 2030.03.15 10.0 years *1 Long-term loans 1,000 0.32000% 2020.09.15 2027.09.30 7.0 years *2 1,000 0.48000% 2020.09.15 2030.09.13 10.0 years *3 1,000 0.47000% 2021.08.23 2030.08.30 9.0 years Long-term loans 3,000 0.38000% 2022.09.07 2026.09.30 4.0 years 3,000 0.44500% 2022.10.03 2026.09.30 4.0 years 3,000 1.66200% *5 2026.04.30 2036.03.31 10.0 years Long-term loans 2,000 0.37000% 2019.10.31 2028.04.28 8.5 years Unsecured Unguaranteed Pari Passu *2 Long-term loans 2,000 0.32000% 2020.07.01 2027.07.01 7.0 years Unsecured Unguaranteed Pari Passu *2 Long-term loans 3,000 0.36000% 2020.11.30 2028.11.30 8.0 years Unsecured Unguaranteed Pari Passu *2 Long-term loans 1,500 0.38380% 2018.03.29 2028.03.29 10.0 years Unsecured Unguaranteed Pari Passu *2 Long-term loans 1,000 0.42000% 2019.08.30 2029.02.28 9.5 years Unsecured Unguaranteed Pari Passu *2 Long-term loans 1,000 0.38000% 2021.06.14 2028.11.30 7.5 years Unsecured Unguaranteed Pari Passu *2 Long-term loans 2,000 1.61200% *5 2022.08.23 2032.07.30 10.0 years Unsecured Unguaranteed Pari Passu *2 Long-term loans 1,000 0.55500% 2017.04.27 2029.04.27 12.0 years Unsecured Unguaranteed Pari Passu *2 1,000 0.71000% 2021.06.28 2033.06.28 12.0 years 1,000 0.98800% 2023.06.14 2033.06.28 10.0 years 1,000 1.11000% 2023.07.19 2033.06.28 10.0 years Long-term loans 1,000 1.61300% 2024.05.31 2035.05.31 11.0 years Unsecured Unguaranteed Pari Passu *2 Long-term loans 1,000 0.36000% 2021.06.28 2028.06.30 7.0 years Unsecured Unguaranteed Pari Passu *2 1,000 0.30000% 2021.06.30 2027.06.30 6.0 years Long-term loans 2,000 0.32500% 2022.04.04 2028.03.31 6.0 years Unsecured Unguaranteed Pari Passu *2 Long-term loans 1,000 0.53000% 2021.06.28 2031.06.27 10.0 years Unsecured Unguaranteed Pari Passu *2 Long-term loans 1,000 1.24000% 2024.03.28 2034.03.31 10.0 years Unsecured Unguaranteed Pari Passu *2 Long-term loans 1,000 0.36000% 2021.06.28 2028.06.28 7.0 years Unsecured Unguaranteed Pari Passu *2 Long-term loans 1,000 1.62200% *5 2025.12.30 2032.12.20 7.0 years Unsecured Unguaranteed Pari Passu *2 Long-term loans The Ashikaga Bank, Ltd. The Yamaguchi Bank, Ltd. Daishi Hokuetsu Bank, Ltd. TAIJU LIFE INSURANCE COMPANY LIMITED Mizuho Trust & Banking Co., Ltd. SBI Shinsei Bank, Limited Shinkin Central Bank THE BANK OF FUKUOKA, LTD. MUFG Bank, Ltd. The Norinchukin Bank Interest-Bearing Debt

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61 Balance Lender (JPY mn) Long-term loans DAIDO LIFE INSURANCE COMPANY 1,000 0.53000% 2021.06.30 2031.06.30 10.0 years Unsecured Unguaranteed Pari Passu *2 Long-term loans The Iyo Bank, Ltd. 1,000 1.61200% *5 2022.03.31 2032.03.31 10.0 years Unsecured Unguaranteed Pari Passu *2 Long-term loans 1,000 0.45000% 2019.12.16 2029.12.17 10.0 years Unsecured Unguaranteed Pari Passu *2 1,000 0.65000% 2019.12.16 2031.12.16 12.0 years Long-term loans 1,000 1.58700% *5 2026.06.30 2033.06.30 7.0 years Unsecured Unguaranteed Pari Passu *2 Long-term loans 1,000 0.40500% 2018.06.29 2028.06.30 10.0 years Unsecured Unguaranteed Pari Passu *2 Long-term loans 1,000 0.48000% 2020.03.30 2030.03.29 10.0 years Unsecured Unguaranteed Pari Passu *2 1,000 0.48000% 2021.02.26 2031.02.28 10.0 years Unsecured Unguaranteed Pari Passu *2 1,000 0.53000% 2021.11.30 2031.11.28 10.0 years Unsecured Unguaranteed Pari Passu *2 Long-term loans The Chiba Bank, Ltd. 700 1.57191% *6 2025.09.03 2032.09.30 7.0 years Unsecured Unguaranteed Pari Passu *2 Long-term loans 1,000 0.66000% 2018.09.03 2030.09.03 12.0 years Unsecured Unguaranteed Pari Passu *2 Long-term loans 1,000 0.68000% 2019.04.26 2032.04.30 13.0 years *1 Long-term loans 1,000 0.48000% 2020.07.01 2030.07.01 10.0 years *2 Long-term loans 1,000 0.71000% 2021.06.28 2033.06.30 12.0 years *3 1,000 0.29000% 2019.10.31 2026.10.30 7.0 years *7 1,000 0.32000% 2020.08.31 2027.08.31 7.0 years Long-term loans 1,000 0.48000% 2021.02.26 2031.02.28 10.0 years Unsecured Unguaranteed Pari Passu *3 1,000 1.61500% *5 2025.12.18 2032.12.17 7.0 years Momiji Bank, Ltd. 1,000 0.59000% 2022.05.20 2032.04.30 10.0 years Kansai Mirai Bank, Limited 1,000 1.41600% 2025.01.08 2035.01.31 10.0 years 1,000 1.43700% 2025.02.03 2035.01.31 10.0 years 2,000 1.54600% 2025.03.03 2035.02.28 10.0 years 1,500 2.12800% 2025.12.18 2035.12.18 10.0 years THE JOYO BANK, LTD. 1,000 1.58700% 2025.03.28 2033.03.31 8.0 years 1,000 1.46100% 2025.07.16 2033.07.29 8.0 years 1,000 2.01100% 2026.03.02 2033.03.31 7.0 years 1,000 1.90200% 2025.12.30 2032.12.20 7.0 years 1,000 1.79300% 2026.03.02 2031.02.28 5.0 years Kiraboshi Bank, Ltd. 2,000 1.53700% *5 2026.05.29 2031.05.30 5.0 years Long-term loans Total long-term loans 165,200 167,200Total Loans Saitama Resona Bank,Limited The Keiyo Bank,Ltd. THE NISHI-NIPPON CITY BANK, LTD. SUMITOMO LIFE INSURANCE COMPANY Mitsui Sumitomo Insurance Company, Limited The Hyakugo Bank, Ltd. Long-term loans Notes The Yamanashi Chuo Bank, Ltd. The 77 Bank, Ltd. Interest rate Issue date of loans Date of maturity Loan period Interest-Bearing Debt

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62 Issue 4th Unsecured Investment Corporation Bonds (green bonds) July 16,2020 0.520% July 16,2030 5th Unsecured Investment Corporation Bonds (green bonds) September 30, 2021 0.320% September 28, 2029 6th Unsecured Investment Corporation Bonds September 30, 2021 0.390% September 30, 2031 7th Unsecured Investment Corporation Bonds September 30, 2021 0.680% September 30, 2036 Total Interest-Bearing Debt 173,200 Unsecured, unguaranteed with special pari passu conditions among specified investment corporation bonds Total investment corporation bonds 6,000 1,000 2,000 Investment corporation bonds 2,000 1,000 Interest Rate Date of redemptionIssue date Total Amount (JPY mn) Interest-Bearing Debt * As of August 31, 2026 * Long-term loans funded in the 41st Period are highlighted with orange. Long-term loans repaid in the 42nd Period are highlighted with blue. *1. Unsecured & unguaranteed, Bullet repayment. *2. The loans in the table above are ranked pari passu in accordance with specified clauses in the loan agreements between MAF and all of its lenders. *3. Among the loans in the table, below are “Green Loans” executed based on the Green Finance Framework established by MAF. ①Long-term loan of 1.0 billion yen as of November 30, 2021 from NIPPON LIFE INSURANCE COMPANY. ②Long-term loan of 1.0 billion yen as of November 30, 2021 from Mizuho Bank, Ltd. ③Long-term loan of 2.0 billion yen as of May 31, 2022 from NIPPON LIFE INSURANCE COMPANY. ④Long-term loan of 2.0 billion yen as of November 30, 2022 from NIPPON LIFE INSURANCE COMPANY. ⑤Long-term loan of 2.0 billion yen as of May 31, 2023 from Sumitomo Mitsui Banking Corporation. ⑥Long-term loan of 1.0 billion yen as of May 28, 2024 from SBI Shinsei Bank, Limited. ⑦Long-term loan of 1.0 billion yen as of May 31, 2024 from NIPPON LIFE INSURANCE COMPANY. ⑧Long-term loan of 2.0 billion yen as of May 31, 2024 from SBI Shinsei Bank, Limited. ⑨Long-term loan of 1.0 billion yen as of May 31, 2024 from The Yamaguchi Bank, Ltd. ⑩Long-term loan of 1.0 billion yen as of July 16, 2025 from The Keiyo Bank,Ltd. ⑪Long-term loan of 1.0 billion yen as of August 29, 2025 from SBI Shinsei Bank, Limited. ⑫Long-term loan of 3.0 billion yen as of April 30, 2026 from MUFG Bank, Ltd.. *4. The interest rate will be applied from August 31, 2026 to September 29, 2026. *5. The interest rate will be applied from June 30, 2026 to September 29, 2026. *6. The interest rate will be applied from March 31, 2026 to September 29, 2026. *7. Among the loans in the table, below are “Syndicated loans.” ①Long-term loan of 0.5 billion yen as of March 3, 2025 from Sumitomo Mitsui Banking Corporation. ②Long-term loan of 2.0 billion yen as of March 3, 2025 from Saitama Resona Bank,Limited. *8. The interest rate for this loan is variable. However, the fixed interest rate of the interest rate swap contract for mitigating the interest-rate fluctuation risk, is stated here.

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63 Historical Operating Performance 41st Period40th Period39th Period38th Period37th Period36th Period35th Period34th Period33rd Period32nd Period Unit Aug. 2026Feb. 2026Aug. 2025Feb. 2025Aug. 2024Feb. 2024Aug. 2023Feb. 2023Aug. 2022Feb. 2022 184181184181184182184181184181DaysNumber of Operating Days 14,59213,72713,19512,82812,70312,58613,04912,34412,43412,217JPY mnTotal Revenues 13,70313,31413,19512,82812,70312,58612,50012,34412,32712,217JPY mnRental Revenues 888412－－－－548－107－JPY mnGain on Sale of Investment Properties 10,1899,9529,7669,5579,3189,4859,1019,1879,0319,138JPY mnNet Operating Income from Property Leasing*1 5.75.75.65.65.45.65.35.55.35.5％NOI Yield*2 1,8621,8741,9301,9031,8971,9001,9301,9672,0222,048JPY mnDepreciation and Amortization 8,3278,0777,8367,6547,4217,5847,1717,2197,0087,089JPY mnOperating Income from Property Leasing 7,5246,8936,3416,2025,9916,1706,2565,8355,7265,726JPY mnOperating Income 6,8366,3535,8525,7945,5715,7705,8935,4275,2935,279JPY mnIncome before Income Taxes 6,8356,3535,8505,7935,5705,7695,8925,4265,2925,278JPY mnNet Income 1,3211,0549441,0671,183938811526632506JPY mnCapital Expenditure 335,120330,623328,688326,912325,693327,134327,052327,109328,466326,050JPY mnTotal Assets 173,200169,700168,500167,000166,000167,500167,500168,500169,500167,500JPY mnInterest-Bearing Debt 51.751.351.351.151.051.251.251.551.651.4%LTV*3 32.532.432.732.832.933.734.235.236.036.8%Appraisal LTV*4 153,649152,868152,365152,307152,084152,283151,874151,408151,167151,153JPY mnTotal Net Assets 6,1546,0545,8505,7925,5705,7695,3595,4265,1855,278JPY mnTotal Distribution 2,517,3602,517,3602,517,360503,472503,472503,472503,472503,472503,472503,472UnitsUnits Outstanding* 61,03560,72560,525302,514302,072302,467301,653300,728300,249300,222YenTotal Net Assets per Unit 57,77857,77857,778288,893288,893288,893288,893288,893288,893288,893YenUnitholders' Capital per Unit 2,4452,4052,32411,50611,06411,45910,64510,77810,29910,485YenDistribution per Unit 137,284134,839132,347652,248646,428627,958613,344591,009572,875546,488YenNAV per Unit*5 118,800137,900123,400115,200659,000568,000657,000607,000683,000605,000YenUnit Market Price 321,244314,973313,203310,010308,971309,558307,043308,835310,204309,327JPY mnBook Value=(A) 519,345507,599499,856491,885487,916479,203469,331460,410452,650438,594JPY mnAppraisal Value=(B) 198,100192,625186,652181,874178,944169,644162,287151,574142,445129,266JPY mnUnrealized Profit / Loss=(B)－(A) 143141140138136136133134134134#Number of Investment Properties 355,695349,695347,686343,774342,138342,138339,038339,966339,966337,930JPY mnTotal Acquisition Price 13,92513,70213,71313,60613,47713,47713,14613,28613,28613,275UnitsTotal Rentable Units 11,80511,70311,71411,67511,64811,64811,64811,64811,64811,567UnitsRental Apartments (Including Retail Spaces) 2,1201,9991,9991,9311,8291,8291,4981,6381,6381,708UnitsHospitality Facilities 560,340552,309552,464547,528542,534542,534535,531539,260539,260538,154m2Total Rentable Area 97.297.697.397.596.897.196.997.096.596.8％Average Month-End Occupancy Rate * MAF implemented a five-for-one split of investment units with an effective date of March 1, 2025. *1. Net operating income from property leasing does not include gain on sale of investment properties. *2. NOI Yield = Weighted average of actual NOI annualized / Acquisition price x 100 *3. LTV (loan-to-value) ratio at the end of the period = Total interest-bearing debt / Total assets x 100 *4. Appraisal LTV (loan-to-value) ratio at the end of the period = Total interest-bearing debt / (Total assets + Unrealized profit or loss) x 100 *5. NAV (net asset value) per Unit = (Net assets – Total distribution + Unrealized profit or loss) / Units outstanding

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64 ■ Balance Sheet ■ Income Statement Balance Sheet and Income Statement Change41st Period (Ended August 31, 2026)40th Period (Ended February 28, 2026) million yen＋4,497million yen335,120million yen330,623Total Assets million yen-1,626million yen10,514million yen12,141Cash and cash equivalents million yen＋3,682million yen318,318million yen314,635Total investment properties million yen＋2,441million yen6,287million yen3,846Others million yen＋3,716million yen181,471million yen177,754Total Liabilities million yen＋3,500million yen173,200million yen169,700Interest-bearing debt million yen＋61million yen3,804million yen3,742Tenant security deposits million yen＋154million yen4,466million yen4,311Others million yen＋781million yen153,649million yen152,868Total Net Assets ーmillion yen145,449million yen145,449Unitholdersʼ capital million yen＋299million yen1,363million yen1,064Reserve for distribution million yen＋482million yen6,836million yen6,353Retained earnings Change41st Period (Ended August 31, 2026)40th Period (Ended February 28, 2026) million yen＋388million yen13,703million yen13,314Rental Revenues million yen＋139million yen2,813million yen2,673Rental expenses million yen＋11million yen700million yen688Real estate taxes million yen-12million yen1,862million yen1,874Depreciation and amortization million yen＋138million yen5,375million yen5,237Total Rental Expenses million yen＋250million yen8,327million yen8,077Operating Income from Property Leasing million yen＋476million yen888million yen412Gain on Sale of Investment Properties million yen＋80million yen1,183million yen1,103Asset Management Fees million yen＋15million yen508million yen492Other Expenses million yen＋631million yen7,524million yen6,893Operating Income million yen-149million yen-688million yen-539Non-Operating Income and Expenses million yen＋482million yen6,836million yen6,353Income before Income Taxes million yen-0million yen0million yen0Current and Deferred Income Taxes million yen＋482million yen6,835million yen6,353Net Income million yen＋382million yen681million yen299Reserve(+) or reversal(-) for tax purpose reduction entry million yen＋100million yen6,154million yen6,054Total Distribution yen＋40yen2,445yen2,405Distribution per Unit ーunits2,517,360units2,517,360Number of Units Outstanding

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71 Disclaimer  This document is intended for informational purposes only. The contents of this document do not constitute an offer to sell or solicitation of an offer to buy or sell any security or other financial instrument of Mitsui Fudosan Accommodations Fund Inc.  Factors including changes in the price or earning capacity of real estate under management or worsening of the financial condition of the issuing entity, may cause the trading price of real estateinvestment securities to drop, resulting in a loss for the investor. Investment decisions should be based on your own judgment and responsibility. Please consult with a securities company regarding the purchase of units or investment corporation bonds of Mitsui Fudosan Accommodations Fund Inc.  The information provided in this document does not constitute the disclosure or asset management reports required under the Financial Instruments and Exchange Act or laws relevant to investment trusts or investment corporations.  Mitsui Fudosan Accommodations Fund Inc. has exercised due care in providing the information in this document but does not guarantee its accuracy or completeness.  Information in this document contains future projections. Accordingly,actual results may differ substantially from the performance, management results, financial details, or other matters expressed or implied by such future projections.  Mitsui Fudosan Accommodations Fund Inc. is not responsible for updating the information in this document. The information in this document may be changed without prior notice.  Duplication or use of information in this document for other purposes without the prior consent of Mitsui Fudosan Accommodations Fund Inc. is prohibited. REIT Management Company: Mitsui Fudosan Accommodations Fund Management Co., Ltd. (Financial Instruments Firm, Kanto Finance Bureau (registration) No. 401 Member of Investment Management Association of Japan) Please note that this English translation of the Japanese original document is provided solely for information purposes. Contents of this document have been summarized or omitted from the Japanese document. In the event ofany discrepancy between the Japanese original and this English translation, the Japanese original shall prevail. The financial statements of MitsuiFudosan Accommodations Fund Inc. havebeen prepared in accordance withgenerally accepted accounting principles in Japan (Japanese GAAP), which may differ materially in certain respects from generally accepted accounting principles in other jurisdictions. Please note that this English translation of the Japanese original document is provided solely for information purposes. Contents of this document have been summarized or omitted from the Japanese document. In the event ofany discrepancy between the Japanese original and this English translation, the Japanese original shall prevail. The financial statements of MitsuiFudosan Accommodations Fund Inc. havebeen prepared in accordance withgenerally accepted accounting principles in Japan (Japanese GAAP), which may differ materially in certain respects from generally accepted accounting principles in other jurisdictions.

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