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Analyst Coverage Analyst Coverage

As of Oct. 31, 2017

Company Analyst
SMBC Nikko Securities Inc. Hiroshi Torii
Credit Suisse Securities (Japan) Limited Masahiro Mochizuki
Goldman Sachs Japan Co., Ltd. Sachiko Okada
Jefferies Japan Limited Chang Han Joo
Citigroup Global Markets Japan Inc. Masashi Miki
Daiwa Securities Co. Ltd. Kohei Omura
Nomura Securities Co., Ltd. Tomohiro Araki
Mizuho Securities Co., Ltd. Yosuke Ohata
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. Norihiko Sawano
Companies are listed in Japanese syllabary order.

GLP J-REIT and GLP Japan Advisors Inc. (“the asset management company") are aware that GLP J-REIT is currently being covered by the research analysts listed above. The list does not purport to be comprehensive or exhaustive and is subject to change in future. Please note that any information and recommendations, including analysis, opinions, estimates and forecasts, made by the research analysts regarding GLP J-REIT’s performance or strategies or any other matters are based on their own judgment, and neither GLP J-REIT nor the asset management company is involved in any process of the preparation thereof. Please also note that this list is provided solely for the purpose of providing the names of research analysts who provide analysis or projections on GLP J-REIT and names of the firms such research analysts belong to. Neither GLP J-REIT nor the asset management company endorses, assures or guarantees any information, projections, opinions or recommendations made by the research analysts and the firms such analysts belong to. The coverage of, and any information or recommendations, including analysis, opinions, estimates or forecasts, made by, the research analysts and the firms such analysts belong to may be changed or discontinued without any involvement of GLP J-REIT or the asset management company, and neither GLP J-REIT nor the asset management company is responsible for such change or discontinuation. The list does not constitute an offer or a solicitation to purchase or sell any securities issued by GLP J-REIT. Any investment decisions shall be made by each investor solely based on their own judgment and at their own risk.

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