いちごオフィスリート投資法人（8975） – New Loans

Make The WorldMore Sustainable [Provisional Translation Only] This English translation of the original Japanese document is provided solely for information purposes. Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail. May 26, 2022 Issuer Ichigo Office REIT Investment Corporation (“Ichigo Office,” 8975) 1-1-1 Uchisaiwaicho, Chiyoda-ku, Tokyo Representative: Yoshihiro Takatsuka, Executive Director www.ichigo-office.co.jp/en Asset Management Company Ichigo Investment Advisors Co., Ltd. Representative: Hiroshi Iwai, President Inquiries: Norio Nagamine, Head of Ichigo Office Tel: +81-3-3502-4891 Ichigo Office decided today to borrow funds via new loans. New Loans The new loans will be used to repay existing loans (JPY 9,633 million). Details of the existing loans to be repaid are in Section 3 below. 1. Loan Rationale 2. New Loan Details Loan Date Lenders Interest Rate Loan Amount (JPY million) Repayment Date (Loan Term) Repayment Terms Collateralized 2,589 3M JPY TIBOR +0.50%(p.a.) 1,2 May 25, 2027 (5.0 years) SMBC Mizuho Bank MUFG Bank The Bank of Fukuoka Nishi-Nippon City Bank SMBC Mizuho Bank Resona Bank Shinsei Bank Aozora Bank Nishi-Nippon City Bank SMBC Mizuho Bank Resona Bank Shinsei Bank Aozora Bank Nishi-Nippon City Bank May 31, 2022 1,564 3M JPY TIBOR +0.56%(p.a.) 1,2 May 25, 2028 (6.0 years) Lump-sum repayment No 5,476 3M JPY TIBOR +0.68%(p.a.) 1,2 May 27, 2030 (8.0 years) 1 Interest payment date is the 25th of every third month following the first interest payment date (the first payment date will be July 25, 2022 and the last payment date will be the same as the principal repayment date). In the event the interest payment date is not a business day, payment shall be made on the following business day. If the following business day falls into the following month, payment shall be made on the previous business day. Ichigo Office will announce the interest rates for the first period (May 31, 2022 to July 25, 2022) after they are determined. 1 2 Ichigo Office will also execute interest rate swaps on the loans, and will announce the swap interest rates after they are determined. Note: The base rate for the loans will be JPY TIBOR as published by the Japanese Bankers Association (JBA) two business days before each interest payment date. For current JPY TIBOR rates, please visit the JBA’s website: www.jbatibor.or.jp/english/rate 3. Existing Loans Being Repaid Loan Date Lenders Interest Rate Collateralized Loan Amount (JPY million) Repayment Date (Loan Term) Repayment Terms May 9, 2016 3,853 1M JPY TIBOR +0.60%(p.a.) May 31, 2022 (6.1 years) May 24, 2016 5,779 1M JPY TIBOR +0.60%(p.a.) May 31, 2022 (6.0 years) Lump-sum repayment No SMBC Mizuho Bank MUFG Bank Shinsei Bank SMBC Mizuho Bank MUFG Bank Shinsei Bank Aozora Bank The Bank of Fukuoka Nishi-Nippon City Bank Resona Bank 4. Earnings Impact The impact of the new loans on Ichigo Office’s October 2022 fiscal period earnings is minimal and thus there is no change to the forecast presented in Ichigo Office’s December 14, 2021 release “October 2021 Fiscal Period Earnings.” Risks related to the new loans have no material impact on the “Investment Risks” described in the latest Financial Report submitted on January 27, 2022. 5. Other 2 Loan and Bond Composition After New Loans Outstanding Loan and Bond Balance Short-term bank loans Long-term bank loans Total bank loans Bonds Total bank loans and bonds (JPY million) Before New Loans (A) After New Loans (B) Change (B) – (A) – 104,325 104,325 6,900 111,225 – 104,321 104,321 6,900 111,221 – -4 -4 – -4 1 The outstanding balance will decrease because JPY 4 million of existing loans will be repaid using cash-on-hand. Distribution of Loan and Bond Maturities Before New Loans 7,647 4,600 3,047 Oct2023 2,9002,000900Apr2024 9,623 7,6474,600 2,0003,047900■ Bank Loans (floating rate) ■ Bank Loans (fixed rate) ■ Bonds(JPY million)9,633 9,623 9,812 8,8461,0008,9089,0561,2008,2677,3461,0006,3465,4944,1927,2467,9537,856 4,1181,0004,027 4,9474,899 1,200Oct2022Apr2023Oct2024Apr2025Oct2025Oct2027Apr2028Oct2028Apr2029Oct2029Apr2030Oct2030Apr2031Oct2031Apr2032600Apr2026Oct2026955Apr20273,118 3,7471,500After New Loans ■ Bank Loans (floating rate) ■ Bank Loans (fixed rate) ■ New Loans ■ Bonds(JPY million)11,6452,5891,2009,812 8,9088,8461,0008,2677,3461,0005,4944,1927,2462,000 2,9006,3464,1181,5647,856 1,0001,2005,5914,9474,899 5,4763,118 4,027 3,747 1,5007,9539553 600Apr2026Oct2022Apr2023Oct2023Apr2024Oct2024Apr2025Oct2025Oct2026Apr2027Oct2027Apr2028Oct2028Apr2029Oct2029Apr2030Oct2030Apr2031Oct2031Apr2032Apr2032