Translation
The following is an English translation of an independent assurance report prepared in Japanese and is for information andreference purposes only. In the event of a discrepancy between the Japanese and English versions, the Japanese version willprevail.

Independent practitioner’s assurance report

Mr. Nishida Masahiko
Executive Director
Japan Metropolitan Fund Investment Corporation
Scope
We have been engaged by Japan Metropolitan Fund Investment Corporation (hereafter the“Company”) to perform a ‘limited assurance engagement,’ as defined by International Standards
on Assurance Engagements, hereafter referred to as the engagement, to report on the Key
Sustainability Performance Indicators of Environment (hereafter the “Indicators”) contained in
the Company and investment properties for the year ended February 29, 2024 as included in
2023 WEB information of Environmental Performance of Environmental of Sustainability in theCompany’s website (hereafter the “WEB information”) for the period from March 1, 2023 toFebruary 29, 2024. The scope of our assurance procedures was limited to the indicators
marked with the symbol “✔” in the WEB information.
Criteria applied by the Company
In preparing the Indicators, the Company applied the Criteria, that it determined withconsideration of Japanese environmental regulations applicable to the Company as presented
on the WEB information.
The Company’s responsibilities
The Company’s management is responsible for selecting the Criteria, and for presenting theIndicators in accordance with that Criteria, in all material respects. This responsibility includes
establishing and maintaining internal controls, maintaining adequate records and making
estimates that are relevant to the preparation of the Indicators, such that it is free from material
misstatement, whether due to fraud or error. Greenhouse gas (GHG) emissions are estimatedusing emissions factors, and the scientific knowledge on which such emission factors are based
has not been established. GHG quantification is subject to inherent uncertainty.
EY’s responsibilities
Our responsibility is to express a conclusion on the presentation of the Indicators on the WEB
information based on the evidence we have obtained.
We conducted our engagement in accordance with the International Standard for Assurance
Engagements Other Than Audits or Reviews of Historical Financial Information (‘ISAE 3000(Revised)’) and with respect to GHG emissions, the International Standard on Assurance
Engagements: Assurance Engagements on Greenhouse Gas Statements (“ISAE 3410”), issued
by the International Auditing and Assurance Standards Board, and the terms of reference forthis engagement as agreed with the Company on February 2, 2024. Those standards requirethat we plan and perform our engagement to express a conclusion on whether we are aware ofany material modifications that need to be made to the Indicators in order for it to be in1

accordance with the Criteria, and to issue a report. The nature, timing, and extent of theprocedures selected depend on our judgment, including an assessment of the risk of material
misstatement, whether due to fraud or error.
We believe that the evidence obtained is sufficient and appropriate to provide a basis for ourlimited assurance conclusions.
Our independence and quality management
We have maintained our independence and confirm that we have met the requirements of theCode of Ethics for Professional Accountants issued by the International Ethics Standards Board
for Accountants and have the required competencies and experience to conduct this assuranceengagement.
EY also applies International Standard on Quality Management 1, Quality Management forFirms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related
Services engagements, which requires that we design, implement and operate a system ofquality management including policies or procedures regarding compliance with ethicalrequirements, professional standards and applicable legal and regulatory requirements.
Description of procedures performed
Procedures performed in a limited assurance engagement vary in nature and timing from, andare less in extent than for a reasonable assurance engagement. Consequently, the level ofassurance obtained in a limited assurance engagement is substantially lower than theassurance that would have been obtained had a reasonable assurance engagement beenperformed. Our procedures were designed to obtain a limited level of assurance on which tobase our conclusion and do not provide all the evidence that would be required to provide a
reasonable level of assurance.
Although we considered the effectiveness of management’s internal controls when determining
the nature and extent of our procedures, our assurance engagement was not designed toprovide assurance on internal controls. Our procedures did not include testing controls orperforming procedures relating to checking aggregation or calculation of data within IT systems.
A limited assurance engagement consists of making enquiries, primarily of persons responsible
for preparing the Indicators on the WEB information and related information, and applying
analytical and other appropriate procedures.
Our procedures included:

・ Making enquiries regarding the Company’s own criteria that it determined withconsideration of Japanese environmental regulations, and evaluating theappropriateness thereof;・ Inspecting relevant documents with regard to the design of the Company’s internalcontrols related to the Indicators on the WEB information, and enquiring of personnel
responsible thereof at the Company and the Investment property, JMF-Bldg. Kitahama
01;・ Performing analytical procedures concerning the Indicators on the WEB information at
the Company and the Investment property, JMF-Bldg. Kitahama 01; and2

・ Testing, on a sample basis, underlying source information and conducting relevant recalculations related to the Indicators on the WEB information at the Company and theInvestment property, JMF-Bldg. Kitahama 01.
We also performed such other procedures as we considered necessary in the circumstances.
Conclusion
Based on our procedures and the evidence obtained, we are not aware of any material
modifications that should be made to the Indicators for the period from March 1, 2023 toFabruary 29, 2024 in order for it to be in accordance with the Criteria
Kenji Sawami
Engagement Partners
June 28, 2024
Ernst & Young ShinNihon LLC
Tokyo, Japan3