Analyst Coverage

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

Disclaimer

This list is based on the information available to the Investment Corporation and the asset manager of the Investment Corporation,Nomura Real Estate Asset Management Co., Ltd. (hereafter "asset manager"), at the time of its publication, and is prepared according to the guidelines of the Investment Corporation and the asset manager. Consequently, the list may not be comprehensive or the information may be outdated.

Analysts included in this list and others not included are engaged in providing analysis relating to the business results of the Investment Corporation and its business, or projecting the future business results of the Investment Corporation, based on judgments made independently by analysts either periodically or on ad hoc basis and neither the Investment Corporation nor the asset manager participates in the process of their analysis. The Investment Corporation and the asset manager 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 the Investment Corporation. It is not prepared for the purpose of soliciting the acquisition of investment securities of Investment Corporation or the signing of a financial instruments contract.

When investing, we ask investors to invest at their own responsibility and by making their own judgment.