Investor Presentaiton

New Business Entry Ichigo Owners: Real Estate Built on Client Trust Strong Start During Phase 1 (First 2 Years since 2017/3/1 Founding): - - Cumulative Acquisitions: 35 Assets, JPY 25.9B (Book Value) Cumulative Sales: 20 Assets, JPY 16.8B Average Holding Period: 8.1 months Shift from Real Estate Sales (Flow Earnings) to Solutions & Services (Stock Earnings) Phase 1 Prioritize developing client relationships by providing client opportunities to acquire high- quality, long-term assets. Phase 2 Provide client services such as managing real estate assets, increasing asset value via value- add, and consulting Phase 3 Expand consulting and asset management services beyond real estate to other financial assets to meet clients' diverse needs Built Strong Base of Individual and Corporate Clients - Direct relationships expanded to 138 clients. Also transacting via other gatekeeper & broker introductions Sold JPY 8.3B of Assets to Private Equity Real Estate Fund Established on Behalf of Long-Term Investor - - Portfolio of high-quality, new residential assets in central Tokyo Ichigo Investment Advisors providing asset management services Gross Profit on Asset Sales (JPY million) 2,039 一期一会| ICHIGO O Ichigo Inc. All rights reserved. 263 Year 1 FY18/2 Year 2 FY19/2 24

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