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Dividends

Dividend per Unit for the Eleventh Fiscal Period (Actual)

Dividend per Unit: 12,809 yen

The Eleventh Fiscal Period of Top REIT was from May 1, 2011 to October 31, 2011.

The above dividend shall be paid to investors registered on the List of Unitholders as of October 31, 2011.

Forecast of Dividend per Unit for the Twelfth Fiscal Period

Dividend per Unit: 12,400 yen

The Twelfth Fiscal Period is from November 1, 2011 to April 30, 2012.
The above forecast figures are the current estimated figures calculated based on certain assumptions and may change due to the acquisition or sale of properties, market trends or other subsequent changes in the overall circumstances surrounding Top REIT. Therefore, this forecast is not a guarantee of the dividend amount.

The dividend for the Twelfth Fiscal Period shall be paid to investors registered on the List of Unitholders as of April 30, 2012. The last trading day with rights on the Tokyo Stock Exchange will be April 24, 2012.

Forecast of Dividend per Unit for the Thirteenth Fiscal Period

Dividend per Unit: 12,200 yen

The Twelfth Fiscal Period is from May 1, 2012 to October 31, 2012.
The above forecast figures are the current estimated figures calculated based on certain assumptions and may change due to the acquisition or sale of properties, market trends or other subsequent changes in the overall circumstances surrounding Top REIT. Therefore, this forecast is not a guarantee of the dividend amount.

The dividend for the Twelfth Fiscal Period shall be paid to investors registered on the List of Unitholders as of October 31, 2012. The last trading day with rights on the Tokyo Stock Exchange will be October 26, 2012.

Dividend Trends

(Note 1)
The above forecast figures are the current estimated figures calculated based on certain assumptions and may change due to the acquisition or sale of properties, market trends or other subsequent changes in the overall circumstances surrounding Top REIT. Therefore, this forecast is not a guarantee of the dividend amount.
(Note 2)
The actual number of days in the First Fiscal Period was 245. The above number is calculated by the following calculation method: (First Fiscal Period result / 245 days) x 365 days / 2

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