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Investor Presentaiton

FY19/2 Summary Durable Earnings Model Stock Earnings/Fixed Expenses 240% Gross Profit Fixed Expenses JPY 7.07B Stock Earnings Growth +21% 16.9B Asset Management +10% (Gross Profit: JPY B) Value-Add Clean Energy +16% +106% doda 14.0B Flow Earnings JPY 15.19B JPY 32.13B Stock Earnings JPY 16.94B 2.0B 2.1B 11.1B 12.9B 0.9B 1.9B FY18/2 FY19/2 FY18/2 FY19/2 FY18/2 FY19/2 FY18/2 FY19/2 Power Up 2019 MTP Achievement Share Buybacks & Dividend Beat All KPI Targets Record FY19/2 OP, RP, and NI +60% (JPY B) +19% 26.3B 15.4B 12.9B 16.4B FY19/2 FY16/2 Operating Profit (OP) FY16/2 FY19/2 Net Income (NI) - Share Buyback in Oct-Dec 2018 Amount: JPY 3B (1.6% of shares) Average Share Price: JPY 381 Dividend +17%, 7th Consecutive Year of Dividend Growth DOE 3.7% (Policy: DOE >3%) Total Payout Ratio (Dividends + Buybacks) 41.8% J.League Top Partner - Became J.League Top Partner in January 2019 As the J.League's only real estate Top Partner, Ichigo will work on stadium renovations & upgrades & operating efficiencies Goal is to build stronger and healthier local communities in cooperation with local residents, businesses, and municipalities 一期一会| ICHIGO O Ichigo Inc. All rights reserved. 7
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