Forecast for the Fiscal Period ended November 2025	Distributions Per Unit (Excluding Surplus Cash Distributions)	Surplus Cash Distributions Per Unit	Total Distributions Per Unit
	1,830 yen	90 yen	1,920 yen

NPR’s investment units were split on a three-for-one basis effective on June 1, 2025.
The subject fiscal period is from June 1, 2025 to November 30, 2025 (6 months).

Only unit holders registered as of November 30, 2025 are eligible to receive the subject distributions. The final trading day with the distribution rights at the Tokyo Stock Exchange is scheduled to be November 26, 2025.

NPR will start paying the subject distributions on February 13, 2026.

Forecast for the Fiscal Period ending May 2026	Distributions Per Unit (Excluding Surplus Cash Distributions)	Surplus Cash Distributions Per Unit	Total Distributions Per Unit
	1,708 yen	212 yen	1,920 yen

The subject fiscal period is from December 1, 2025 to May 31, 2026 (6 months).

Only unit holders registered as of May 31, 2026 are eligible to receive the subject distributions. The final trading day with the distribution rights at the Tokyo Stock Exchange is scheduled to be May 27, 2026.

The above forecast was made based on certain assumptions as of January 21, 2026, and the actual distributions will be subject to potential changes due to future property acquisitions or sales, market conditions or other various circumstances. Please note that the subject forecast should not be deemed any sort of guarantee or commitment of the amount of future distributions.

Forecast for the Fiscal Period ending November 2026	Distributions Per Unit (Excluding Surplus Cash Distributions)	Surplus Cash Distributions Per Unit	Total Distributions Per Unit
	1,727 yen	207 yen	1,934 yen

The subject fiscal period is from June 1, 2026 to November 30, 2026 (6 months).

Only unit holders registered as of November 30, 2026 are eligible to receive the subject distributions. The final trading day with the distribution rights at the Tokyo Stock Exchange is scheduled to be November 26, 2026.

The above forecast was made based on certain assumptions as of January 21, 2026, and the actual distributions will be subject to potential changes due to future property acquisitions or sales, market conditions or other various circumstances. Please note that the subject forecast should not be deemed any sort of guarantee or commitment of the amount of future distributions.