Investor Presentaiton

Free-Rent Incentive Trends Free Rent Incentive Trends (Months) 4 3 2 1 -Tokyo Metro Area (Average) -Regional Cities (Average) 2.8 2.7 2.2 1.3 Rental Income Loss Due to Free Rent (JPY million) ■Loss from Free Rent ■Actual Rent Income 122 89 79 126 116 2.1 2.0 2.1 1.8 1.7 1.5 6,879 6,794 6,836 6,936 6,894 0 Oct 2021 Apr 2022 Oct 2022 Apr 2023 Oct 2023 Oct 2021 Apr 2022 Oct 2022 Apr 2023 Oct 2023 一期一会| ICHIGO Ichigo Investment Advisors Co., Ltd. Ichigo Office REIT Investment Corporation All rights reserved. 43

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