Details of the Organization of MIRAI

The organization of MIRAI consists of a general meeting of unitholders, one executive director, two supervisory directors, a board of directors composed of executive directors and supervisory directors, and an accounting auditor.

• In accordance with the Act on Investment Trusts and Investment Corporations and the Articles of Incorporation of MIRAI, the number of supervisory directors must not be less than the number of executive directors plus one.
• Please refer to here for more information on the executive and supervisory board members.

Compliance and governance system

MIRAI will establish an appropriate risk management and compliance system, and will further strengthen the system through training for officers and employees and regular internal audits. MIRAI has adopted a governance structure that ensures unity of interest between unitholders and sponsors and a third party approach to conflicts of interest. Please refer to here for governance structure of MIRAI.

Asset Management Fee

The following table shows the actual management fees paid by MIRAI. Please refer to the financial highlights data in the IR Library for earlier figures.

		14th FP	15th FP
		14th FP	15th FP
		428 million yen	439 million yen
AM Fee Ⅰ (based on AUM)	Up to 0.5% per year x total assets (note)	428 million yen	439 million yen
		38 million yen	33 million yen
AM Fee Ⅱ (based on DPU)	Up to 0.001% x DPU before AM Fee Ⅱ x NOI after depreciation	38 million yen	33 million yen
		97 million yen	－
Acquisition Fees	Up to 1.0% x the acquisition price	97 million yen	－
		74 million yen	－
Disposition Fees	Up to 1.0% X the disposition price	74 million yen	－
		－	－
Merger Fees	Up to 1.0% the appraisal value of real estate related assets the counterparty of the merger holds at the time of merger to be transferred to and to be held by the new merged entity	－	－

• Daily calculation based on actual days in the period on 365 days a year basis, rounded down to the nearest yen.