Distributions

Distributions

Cash Distributions Forecast for the Thirteenth Fiscal Period Ending September 30, 2012 Estimated Distributions
Distribution per unit 1,220 yen

The Thirteenth fiscal term commences on April 1, 2012, and carries through to September 30, 2012
The aforementioned forecast and calculations are based on certain assumptions as of May 16, 2012.
Accordingly, the actual cash distribution may differ from the forecast due to the future acquisition and disposition of properties, changes in the real estate market and other conditions confronting
Japan Rental Housing Investments Inc.. We do not guarantee payment of the forecast cash distribution
per unit.

Unitholders on record as of September 30, 2012 are eligible for the receipt of cash distributions.
The final trading day on the Tokyo Stock Exchange for cash distribution eligibility is September 25, 2012.

Cash Distributions Determined for the Twelfth Fiscal Period Ending March 31, 2012 Actual Distributions
Distribution per unit 1,263 yen

Thetwelfth fiscal term is from October 1, 2011 to March 31, 2012.
The distributions payment has started from June 15, 2012.

Unitholders on record as of March 31, 2012 are eligible for the receipt of cash distributions.
The final trading day on the Tokyo Stock Exchange for cash distribution eligibility was March 27, 2012.

Distribution per Unit

*The Investment Corporation completed a four-for-one investment unit split in July 2010. Distribution per unit will be the values after the split from the ninth fiscal period ended September 2010. For reference purposes, distribution per unit that are a quarter of historical values are listed.

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