ORIX JREIT Announces Financial Results for 48th Fiscal Period

Provisional translation only

ORIX JREIT Inc. (TSE:8954)

Yukako Oshimi Executive Director

ORIX Asset Management Corporation Takayuki Hirasawa

General Manager of the Financial Planning Department Tel: +81-3- 5776-3323

ORIX JREIT Announces Financial Results for 48th Fiscal Period

April 21, 2026

Distribution per unit: ¥2,414

ORIX JREIT Inc. (OJR) today announced the financial results for its 48th fiscal period ended February 28, 2026. Operating revenues for the period were ¥31,181 million, income before income taxes was ¥14,417 million, net income was ¥14,404 million, and the distribution amount will be ¥13,325 million, or ¥2,414 per unit. The pay-out ratio will be 92.4%.

As of February 28, 2026, OJR's total assets were approximately ¥743,354 million, interest-bearing liability was

¥347,697 million (composed of ¥326,697 million in loans and ¥21,000 million in investment corporation bonds), and total net assets were ¥353,645 million, or ¥64,066 per unit.

Note : As of August 31, 2025 as the record date and September 1, 2025 as the effective date, OJR conducted an investment unit split that divided each investment unit on a two-for-one basis.

During the 48th fiscal period, OJR acquired Holiday Inn Express Osaka City Centre - Midosuji (acquisition price: ¥22,516 million) on October 21, 2025, PRIME SHINYOKOHAMA BUILDING (acquisition price: ¥9,250 million) on November 20, 2025, and Tenjin North Front Building (The quasi co-ownership interest of 16% in the property, acquisition price: ¥1,016 million) on February 26, 2026; and sold Aoyama Suncrest Building (quasi co-ownership 40%, sale price: ¥6,796 million) on September 1, 2025. As a result, the OJR portfolio consisted of 121 properties at a total investment of ¥794,647 million (on an acquisition price basis) as of February 28, 2026.

After the end of the 48th fiscal period, OJR acquired KAMATA PRIME (acquisition price: ¥ 11,300 million) on March 31, 2026; and sold Aoyama Suncrest Building (quasi co-ownership 40%, sale price: ¥6,796 million) on March 2, 2026, and Hamamatsu Act Tower (quasi co-ownership 40%, sale price: ¥6,860 million) on March 27, 2026.

And OJR will acquire Baysidepark Osaka South Residences (acquisition price: ¥3,540 million) and Baysidepark Osaka North Residences (acquisition price: ¥2,860 million) on April 28, 2026, and the remaining amount of Tenjin North Front Building in the following two installments; (I) quasi co-ownership: 16%, acquisition price:

¥ 1,016 million on August 27, 2026, and (II) quasi co-ownership: 16%, acquisition price: ¥ 1,016 million on February 25, 2027; and will sell Hamamatsu Act Tower (quasi co-ownership 60%, sale price: ¥10,290 million) on September 1,

2026. Details were disclosed in the press releases dated August 28, 2024, March 10, 2026 and March 31, 2026.

As noted above, on February 28, 2026, OJR owned a total of 121 properties, consisting of 55 office buildings, 11 hotels, 25 retail facilities, 25 residential properties and five logistics facilities, and was leasing approximately 1,188,480.20 m² of space to 1,136 tenants. OJR's portfolio occupancy rate as of February 28, 2026 was approximately 99.1%.

The total acquisition price of OJR's portfolio of 121 properties was ¥794,647 million as of February 28, 2026. The portfolio's appraisal value, evaluated by five major Japanese real estate appraisers, was ¥987,808 million as of February 28, 2026.

OJR procured funds as described below during the 48th fiscal period.

OJR took out long-term loans and short-term loans of ¥55,850 million from September 2025 through February 2026 to repay loans of which repayment dates arrived and procure funds for property acquisition.

As a result of the activities above, as of February 28, 2026, outstanding loans amounted to ¥326,697 million, the balance of investment corporation bonds stood at ¥21,000 million, and the balance of interest-bearing liability totaled ¥347,697 million. The LTV (based on total assets) (Note 1) was 46.8%, the fixed-rate debt ratio (Note 2) was 90.8%, and the long-term debt ratio (Note 3) was 87.1%.

Note 1: "LTV (based on total assets)" is the figure obtained by dividing the balance of interest-bearing liability by total assets stated on the balance sheet and is rounded to the first decimal place.

Note 2: "Fixed-rate debt ratio" is the figure obtained by dividing the balance of fixed-rate debt (including loans whose rates were fixed through interest rate swaps) by the balance of interest-bearing liability and is rounded to the first decimal place.

Note 3: "Long-term debt ratio" is the figure obtained by dividing the balance of long-term interest-bearing liability (except for long-term debt to be reimbursed or redeemed within one year) by the balance of interest-bearing liability and is rounded to the first decimal place.

In accordance with Tokyo Stock Exchange listing requirements, OJR here announces financial results forecasts for the 49th fiscal period, which runs from March 1, 2026 through August 31, 2026. For the 49th fiscal period, OJR forecasts operating revenues of ¥31,621 million, income before income taxes of ¥14,629 million, and net income of

¥14,606 million. The estimated distribution per unit for the 49th fiscal period is ¥2,450.

The financial results forecasts for the 50th fiscal period, from September 1, 2026 through February 28, 2027 are as follows: operating revenues of ¥28,508 million, income before income taxes of ¥12,741 million, and net income of

¥12,718 million. The estimated distribution per unit for the 50th fiscal period is ¥2,450.

OJR was established on September 10, 2001, and was listed and commenced trading on the Tokyo Stock Exchange on June 12, 2002 as the fourth Real Estate Investment Trust in Japan, or "JREIT," to be listed. A JREIT is an externally managed property fund formed under the Act on Investment Trusts and Investment Corporations of Japan. ORIX Asset Management Corporation, a wholly owned subsidiary of ORIX Corporation (TSE: 8591, NYSE: IX (ADR)), is the asset manager of OJR. OJR is a diversified JREIT that invests in office buildings, hotels, retail facilities, residential properties and logistics facilities, aiming to provide stable cash flow and healthy asset growth

over the medium to long term.

Notices

OJR maintains a policy of timely disclosure of important information in both English and Japanese languages.

For more information on OJR, please visit our website at https://www.orixjreit.com.

In making forward-looking statements about the forecasts for the 49th and 50th fiscal periods, certain assumptions have been made. We consider that these assumptions were appropriate and reasonable based on the information available to us when we made the forecasts. However, our actual operating results, and therefore the distribution per unit, may differ from our expectations and will be affected by a number of factors, many of which are beyond our control, or may not be capable of being foreseen or accurately predicted. For example, our actual distribution amount could be affected by the rental revenues we actually receive from our properties, and/or our operating expenses, interest expenses and the ability of our tenants to meet their financial obligations during the relevant period. It may also be affected by economic conditions in Japan and conditions relating to the real estate market in Japan, particularly in Tokyo. These factors and others could also affect the validity of the assumptions that we used in the preparation of our forecasts. No assurance can be given by us or by any other party that our forecasts will prove accurate.

(Summary Financial Information Attached)

* This provisional English translation of the original Japanese document is provided solely for informational purposes. Should there be any discrepancies between this translation and the Japanese original, the latter shall take precedence.

**OJR is a real estate investment corporation (commonly referred to as a JREIT) listed on the Tokyo Stock Exchange JREIT Section (TSE: 8954) whose objective is to provide stable income returns to investors over the medium to long term through investing in diversified types of quality real estate, mostly office buildings and properties in the Greater Tokyo Area. ORIX Asset Management Corp., a wholly owned subsidiary of ORIX Corp. (TSE: 8591), provides the asset management services for OJR.

As of August 31, 2025 and February 28, 2026

As of As of

August 31, 2025

February 28, 2026 (In millions of yen)

Current liabilities: