ADR will build its portfolio based on the following guideline.
Investment regions

| *1 |
Tokyo Central 7 Wards indicates the Minato, Chiyoda, Shibuya, Shinjuku, Meguro, Setagaya and Shinagawa wards of Tokyo |
| *2 |
Tokyo Metropolitan Area indicates Tokyo (excluding the Tokyo 23 wards) and Kanagawa, Saitama and Chiba prefectures. |
| *3 |
Major Regional Cities exclude cities in the Tokyo Metropolitan Area. |
| *4 |
Percentage of portfolio is calculated based on acquisition prices. |
Unit types

*Investment ratios are calculated based on leasable area.
Definition of Unit types
S = Single, C = Compact, F = Family, L = Large

In addition to the above, we invest in the following Dormitory type.
