Global One Real Estate Investment : Supplementary Material on Earnings Forecasts

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The “Initiative” refers collectively to the new investment unit issuance and secondary offering announced on the date of this document (hereinafter, the “Offering”), the acquisition of THE PEAK SAPPORO scheduled on 7 December 2022, the acquisition of Tomatsu Building scheduled on 28 April 2023 (Hereinafter, THE PEAK SAPPORO and Tomatsu Building are individually or collectively referred to as the “Asset to be Acquired”. The same applies hereinafter.), and the transfer of Otemachi First Square scheduled to be transferred over five periods after 6 December 2022 (hereinafter, the “Asset to be Transferred”).

In “After the announcement of the Initiative” on this page, the forecast for the 39th Period (End Mar. ’23) is calculated based on the assumption that the Offering, transfer of Otemachi First Square (25% ownership interest) on 6 December 2022 and acquisition of THE PEAK SAPPORO on 7 December 2022 will be completed, and the forecast for the 40th Period (End Sep. ’23) is calculated based on the assumption that the Offering, asset acquisition and transfer in the 39th Period (End Mar. ’23) as well as the acquisition of Tomatsu Building on 28 April 2023 and transfer of Otemachi First Square (30% ownership interest) on 25 September 2023 will be completed and that there will be no change to the owned assets and financial conditions other than the Initiative and fund procurement related to it. For other detailed assumptions, please refer to “GOR Revises Earnings Forecast for the Six-Month Period Ending March 2023 and Announces Earnings Forecast for the Six-Month Period Ending September 2023” announced today.

The assumed value of dividend per unit after the Initiative is not calculated for the purpose of estimating profits, etc. during a certain accounting period and does not contain the meaning as forecast for profits, etc. during a certain accounting period. In addition, the assumed value of dividend per unit after the Initiative is not an indicator defined by the corporate accounting standards generally accepted as fair and appropriate and has not been audited by accounting auditors. Such assumed value shall not be taken into consideration as an alternative for other indicators displayed in accordance with the corporate accounting standards generally accepted as fair and appropriate. Furthermore, the assumed value of dividend per unit after the Initiative does not indicate the future revenue of GOR nor guarantee the execution or non-execution of future distribution and its amount in any sense. Please note that the actual profits, etc. during a certain period may differ significantly from the above.

The assumed value of dividend per unit after the Initiative is calculated with the following formula: “(projected net income (“Financial Results for the Six-Month Period Ended March 2022 (the 37th Period)” dated 19 May 2022) for the 39th Period (End Mar. ’23) in case the Initiative was not implemented ± the amount of change in property-related profits and losses (including depreciation and amortization expenses) after completion of the sale and purchase of the Asset to be Acquired and the Asset to be Transferred through the Initiative ± amount of change in asset management fee and non-operating expenses through the Initiative) ÷ (1,022,826 units which is the maximum number of investment units issued and

outstanding after the completion of the Offering). For the calculation of “the property-related profits and losses (including depreciation and amortization expenses) after completion of the sale and purchase of the Asset to be Acquired and Asset to be Transferred through the Initiative”, property-related profits and losses for six months estimated by GAR based on the information provided by the previous owner is taken into account in the property-related profits and losses for the Asset to be Acquired.

The reserve for the reduction entry before the 38th Period (End Sep. ’22) is the end balance of the reserve for the reduction entry on the balance sheet of each Period. An increase or decrease in the end balance of the reserve for the reduction entry due to provision of the reserve for the reduction entry or reversal of the reserve for the reduction entry will not necessarily occur in the Periods after the 39th Period Period (End Mar. ’23).

The reserve for the reduction entry per investment unit for each Period is the balance of the reserve for the reduction entry as of the end of each Period divided by the number of investment units issued as of the end of each Period. It is divided by 1,022,826 unit which is the maximum number of investment units issued and outstanding after the completion of the Offering after the 39th Period (End Mar. ’23).