Investor Presentaiton

一期一会 ICHIGO October 2023 Highlights Achievements Details • Driving NAV per Share & NOI via asset acquisition/sale Acquisition-Driven Asset acquisition: 1 asset/JPY 1.8B • Sold retail asset with decreasing occupancy & Growth . Asset sale: 1 asset/JPY 1.6B Organic Growth acquired office in Tokyo Gains on Sale of JPY 105M on asset sale, distributed as dividend • Increase in rental income NOI: +JPY 10M (+0.2% vs. forecast) . Operating expense reductions due to effective cost controls Financing • Refinancing: JPY 7.6B Dividend JPY 2,115 (-JPY 2,109, -49.9% vs. April 2023) • • . • Continue extending loan maturity and hedging interest rate risk via credit swaps (6.7 year average maturity on new loans, 100% of loans have fixed rates) Decrease due to fall-off of Gains on Sale from Ichigo Ikenohata Building +JPY 100 (+5.0%) vs. initial forecast Extraordinary Shareholder Meeting-related Expenses: -JPY 23 per share Base EPS1 NAV2 FFO³ JPY 1,976 (+JPY 78, +4.1% vs. April 2023) JPY 97,624 (+JPY 964, +1.0% vs. April 2023) JPY 2,617 (+JPY 670, +34.4% vs. April 2023) . +JPY 31 (+1.6%) vs. initial forecast • Increase in portfolio unrealized gains: JPY 48.9B (+JPY 1.5B vs. April 2023) . Increase in FFO (excluding asset sale impact), Base EPS vs. April 2023 1 Base EPS calculated by deducting Gains on Sale and the impact of Gains on Sale on asset management fee = Funds From Operations 2 NAV = BPS + Net Unrealized Capital Gains per share 3 FFO Ichigo Investment Advisors Co., Ltd. Ichigo Office REIT Investment Corporation All rights reserved. 7

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