Measures to Maximize Unitholder Interest

The Investment Corporation aims to maximize unitholder value by aligning the interests of our unitholders and with those of our sponsors.

■Management Fee Structure

We have adopted a management fee structure where a portion of the management fee is linked to our net income before taxes before deduction of a portion of the asset management fee. We also do not pay any disposition fee to the Asset Manager in connection with a property disposition on the basis that capital gains from a property disposition, if any, reflected in our net income before taxes, which increases the asset management fee, should provide sufficient compensation to the Asset Manager for its assistance on the disposition of properties. We believe that this fee structure will provide enough incentives to the Asset Manager to maximize unitholder value.

Management Fee Structure	Calculation method	Maximum
Asset management fee I	Total assets for the preceding fiscal year × Annual rate of 0.3% (maximum rate)	Total assets Annual rate of 0.5%
Asset management fee Ⅱ	Net income before taxes before deduction of asset management fee × 10%(maximum rate)
Acquisition fee	Acquisition price ×1.0% (maximum rate)	ー