October 2025 Fiscal Period Corporate Presentation

Ichigo Office October 2025 Fiscal Period Corporate Presentation

Ichigo is a Japanese sustainable infrastructure company dedicated to making the world more sustainable

Whether developing new technologies to allow buildings to last 100 years, powering communities with clean energy, or creating new possibilities for tenants and stakeholders, Ichigo is working to build a more prosperous and sustainable society for all.

• October 2025 Highlights

• October 2025 Earnings

• October 2025 Financial Metrics

• Growing Shareholder Value: NAV

• Ichigo Office Total Return Target >8%

• Occupancy & Average Rent per Tsubo (3.3m2)

• Organic Growth: New Tenants at Higher Rents

• Organic Growth: Rent Renewals of Existing Tenants

• Value-Add Capex Driving Asset Competitiveness

• Ichigo Sasazuka Building Leasing Status: Driving Significant Value at Large-Scale Tenant Departure

• Value-Add Cases Financed by 1st Value-Add Capex Loan

• Value-Add Cases Financed by 2nd Value-Add Capex Loan

• Gains on Sales From Asset Sales

• Sustainability Initiatives

• Share Buyback Maximizing Shareholder Value

  Ichigo Office Growth Strategy

• Gains on Sales From Continuous Asset Sales

• Asset Sales Record From 2022: Sold 12 Assets (JPY 30.6B), JPY 9.8B Gains on Sales

• Selective Investments Focused on Capital Costs

• Loan for Value-Add Capex

  
  
  

• Access to Sponsor Ichigo's Robust Pipeline of Office Assets

• April 2026 Forecast

• October 2026 Forecast

  Appendix

• Ichigo Office ESG

• Financial & Portfolio Data

• Other

© Ichigo Investment Advisors Co., Ltd. Ichigo Office REIT Investment Corporation All rights reserved. 5