Greenhouse Gas Emissions
Independent Verification Report (Limited Assurance)
To: Daiwa House REIT Investment Corporation
Daiwa House Asset Management Co., Ltd.

July 22, 2024
Japan Audit and Certification Organizationfor Environment and Quality (JACO)
2-2-19 Akasaka Minato-ku Tokyo Japan
President
Yoshiaki Okajima

Japan Audit and Certification Organization for Environment and Quality (JACO) has been engaged by
Daiwa House Asset Management Co., Ltd. (hereinafter “the Organization”) to conduct independent
verification of its greenhouse gas (GHG) emissions information.

1. Purpose and scope of verification
With regard to GHG emissions information for the fiscal year 2022 (from April 1, 2022 to March 31,2023) and the fiscal year 2023 (from April 1, 2023 to March 31, 2024) at Daiwa House REIT Investment
Corporation reported by the Organization, the verification was conducted.
1) Scope 1 and Scope 2 Greenhouse gas emissions:
CO2 emissions by energy consumption at assets (FY2022: 215 assets, FY2023: 223 assets)
2) Scope 3 Greenhouse gas emissions as defined by the organization (category 1~7 and 13)
The Organization revised a part of its GHG emissions information that was used for the verification
based on the verification results. The responsibility for preparing a calculation report and reporting GHG
emissions is in the Organization and our responsibility is to express an opinion on GHG emissions statedin the calculation report by independent standpoint.
2. Verification procedure
JACO conducted the verification in accordance with ISO 14064-3:2019, Greenhouse gases - Part 3:
Specification with guidance for the verification and validation of greenhouse gas statements. We
conducted the following activities as part of limited assurance:--

Hearing or inquiries to the Organization’s officials who are responsible for identifying and calculatinggreenhouse gas emissions;
Evaluation of the information (data) used to determine the greenhouse gas emissions, the methodof applying the calculation criteria, the method of measuring the data and the assumptions adopted
by the company, and examination of description of the GHG report; andVerification by sampling in order to confirm accuracy of GHG emissions.

Verification activities applied in a limited level of assurance verification are less extensive in nature,timing and extent than in a reasonable level of assurance verification.
3. Conclusion
Based on the process and procedures conducted, there is no evidence that the results of the calculationof Daiwa House REIT's GHG emissions reported by the Organization:-is not materially correct and is not a fair representation of GHG data and information;
has not been prepared in accordance with the related International Standards on GHG quantification,
monitoring and reporting, or to relevant national standards or practices.

Verified greenhouse gas emissions
FY2022 Scope 1: 525 tCO2e, Scope 2: 6,559 tCO2e (Location based),
Scope 2: 48 tCO2e (Market based), Scope 3: 145,313 tCO2e
Details of Scope 3 emissionsCategory 1: 8,609 tCO2e, Category 2: 8,443 tCO2e, Category 3: 1,095 tCO2e、Category 4: 2 tCO2e, Category 5: 156 tCO2e, Category 6: 0 tCO2e, Category 7: 0 tCO2e、Category 13: 127,008 tCO2e
FY2023 Scope 1: 364 tCO2e, Scope 2: 6,889 tCO2e (Location based),
Scope 2: 0 tCO2e (Market based), Scope 3: 161,698 tCO2e
Details of Scope 3 emissions
Category 1: 9,651 tCO2e, Category 2: 13,115 tCO2e, Category 3: 1,137 tCO2e、Category 4: 2 tCO2e, Category 5: 204 tCO2e, Category 6: 0 tCO2e, Category 7: 0 tCO2e、Category 13: 137,588 tCO2e

The organization and JACO verification team did not have any specific conflicts of interest andcarried out the verification on an independent basis.