The following is a list of analysts who cover NTT UD REIT Investment Corporation (NUD)

As of April 1, 2024

Company	Analyst
SMBC Nikko Securities Inc.	Hiroshi Torii
Daiwa Securities Co., Ltd.	Noritaka Hobo
Nomura Securities Co., Ltd.	Kohei Omura
Mizuho Securities Co., Ltd.	Yosuke Ohata

（Companies are listed in alphabetical order.）

<Disclaimer>

This list is based on information available to NUD and the asset management company of NUD (NTT Urban Development Asset Management Corporation) at the time of publication, and is prepared according to the guidelines of NUD and NTT Urban Development Asset Management Corporation. Consequently, the list may not be comprehensive or the information may be out of date by the time you read it.

Analysts included in this list and others not listed are engaged in providing analysis relating to the business results of NUD and its business, or projecting the future business results of NUD, based on judgments made independently by the analyst either periodically or on ad hoc basis. Neither NUD nor NTT Urban Development Asset Management Corporation, or their respective management teams, have had any part whatsoever in the process by which analysts form their analysis or projections. NUD and NTT Urban Development Asset Management Corporation 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 NUD. It does not constitute a solicitation to invest in NUD.

Any investment decisions you make ultimately rest on your own judgment and are your own responsibility.