Capitalization and Major Unitholders

as of January 31, 2026

Unitholders' capital, net	JPY 191,718,247,520
Authorized number of units	10,000,000 units
Units issued and outstanding	1,886,235 units

Date	Description	Unitholders' capital (millions of yen)		Number of investment units issued and outstanding (units)
		Increase (Decrease)	Balance	Increase (Decrease)	Balance
February 2, 2006	Incorporation	100	100	200	200
March 20, 2006	Capital increase through third-party allotment	12,385	12,485	24,770	24,970
April 13, 2006	Capital increase through third-party allotment	30,941	43,426	61,882	86,852
July 31, 2006	Capital increase through third-party allotment	4,239	47,665	8,398	95,250
November 29, 2006	Capital increase through public offering	25,005	72,671	34,550	129,800
September 29, 2008	Capital increase through third-party allotment	14,700	87,371	29,400	159,200
March 23, 2010	Capital increase through public offering	13,562	100,934	67,000	226,200
April 23, 2010	Capital increase through third-party allotment	1,076	102,010	5,320	231,520
March 4, 2013	Capital increase through public offering	10,433	112,444	22,000	253,520
April 3, 2013	Capital increase through third-party allotment	521	112,966	1,100	254,620
September 4, 2013	Capital increase through public offering	10,823	123,789	21,300	275,920
October 2, 2013	Capital increase through third-party allotment	541	124,330	1,065	276,985
February 1, 2014	Split of investment units	-	124,330	1,107,940	1,384,925
August 1, 2014	Capital increase through public offering	24,844	149,175	176,300	1,561,225
August 27, 2014	Capital increase through third-party allotment	1,242	150,418	8,815	1,570,040
February 1, 2016	Capital increase through public offering	22,679	173,097	172,000	1,742,040
February 24, 2016	Capital increase through third-party allotment	1,133	174,231	8,600	1,750,640
August 1, 2018	Capital increase through public offering	15,455	189,687	118,400	1,869,040
August 22, 2018	Capital increase through third-party allotment	772	190,460	5,920	1,874,960
August 31, 2020	Capital increase through public offering	5,007	195,467	39,400	1,914,360
September 25, 2020	Capital increase through third-party allotment	250	195,718	1,970	1,916,330
July 31, 2025	Cancellation of own investment units (Note)	△3,999	191,718	30,095	1,886,235

• From March 18, 2025 to July 11, 2025, MHR repurchased its own investment units through a market purchase on the Tokyo Stock Exchange pursuant to a discretionary transaction agreement with a securities company regarding the repurchase of own investment units . MHR retired all the repurchased own investment units on July 31, 2025, as was approved at its Board of Directors’ meeting held on July 23, 2025.

Unitholder Ownership Categories

as of January 31, 2026

Type of Unitholder	Unitholders		Investment units
	# of Unitholders	Share (%)	# of Units	Share (%)
Individuals	19,027	96.0	168,867	9.0
Financial institutions (incl. securities companies)	156	0.8	992,315	52.6
Other domestic corporations, etc.	301	1.5	446,097	23.7
Foreign corporations and individuals	336	1.7	278,956	14.8
Total	19,820	100	1,886,235	100

Number of Investment Units

as of January 31, 2026

Number of Unitholders

as of January 31, 2026

as of January 31, 2026

Name	# of Units Held	Share% (Note)
Custody Bank of Japan, Ltd. (Trust account)	429,804	22.8
Mori Building Co., Ltd.	401,316	21.3
The Master Trust Bank of Japan, Ltd. (Trust account)	256,976	13.6
The Nomura Trust & Banking Co., Ltd. (Investment trust account)	76,516	4.1
LEGAL + GENERAL ASSURANCE PENSIONS MANAGEMENT LIMITED	26,360	1.4
Custody Bank of Japan, Ltd. (Money Trust Tax Account)	21,868	1.2
JP MORGAN CHASE BANK　385781	21,580	1.1
STATE STREET BANK AND TRUST COMPANY 505001	20,617	1.1
STATE STREET BANK AND TRUST COMPANY 505103	15,932	0.8
Shikoku Railway Company	14,933	0.8
Top 10 unitholders total	1,285,902	68.2

• "Share" refers to the ratio of the total number of investment units issued to investment units held, rounded up to one digit below decimal point.