Make The World
More 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.

December 25, 2023
IssuerIchigo Hotel REIT Investment Corporation (“Ichigo Hotel,” 3463)
1-1-1 Uchisaiwaicho, Chiyoda-ku, Tokyo
Representative: Eriko Ishii, Executive Director
www.ichigo-hotel.co.jp/en
Asset Management Company
Ichigo Investment Advisors Co., Ltd.
Representative: Hiroshi Iwai, President
Inquiries: Hidehito Iwasaka, Head of Ichigo Hotel
Tel: +81-3-3502-4892

Ichigo Hotel Completes Transition of All Assets to 100% Renewable Energy
via Non-Fossil Certificates
Ichigo Hotel has completed transitioning all of its assets to renewable energy.
1. Overview
Ichigo Hotel is working with sponsor Ichigo to build a sustainable society, and in linewith this mission, Ichigo has joined RE100, a global initiative to accelerate thetransition of electricity used by businesses to 100% renewable energy to realize a Net
Carbon Zero society.
In line with Ichigo joining RE100, Ichigo Hotel is targeting to source 100% of theelectricity needs across its assets via renewable energy by January 31, 2024, and haspurchased non-fossil certificates via the renewable energy transaction market’s second
2023 auction conducted in November 2023 with Ichigo, qualified as a broker, as theintermediary.
As a result of the purchase, the electricity used at 21 of 30 Ichigo Hotel’s hotels,
excluding the nine hotels for which the renewable electricity transition has already been
completed, from August 2023 to January 2024 (c. 7.25 million kWh including forecasts)
is effectively renewable electricity, marking Ichigo Hotel’s completion of transitioning
all of its assets to renewable energy. The purchase is Ichigo Hotel’s first non-fossil
certificate purchase.
2. Earnings Impact
The impact of the purchase on Ichigo Hotel’s January 2024 and July 2024 fiscal period
earnings has already been factored into the forecasts presented in the September 14,
2023 release “July 2023 Earnings.”
Ichigo Hotel will continue to work to promote the environmental and energy efficiency
and reduce the environmental impact of its hotels.

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Reference: About Feed-In Tariff (“FIT”) Non-Fossil Certificates and the Renewable
Energy Value Trading Market
The FIT system refers to the purchase of renewable energy at fixed prices, and a nonfossil certificate refers to the certification of the non-fossil value of the electricity
generated without the use of fossil fuels such as petroleum or coal. In particular, nonfossil certificates with tracking information are non-fossil certificates with informationon the non-fossil electricity source, including the power generation facility’s
identification number, category, and location.
Trading of FIT non-fossil certificates began in 2018, and the renewable energy value
trading market was established in November 2021, allowing consumers who purchasethe certificates and obtain the associated environmental value to obtain non-fossil
certificates at low prices. Because the income from the sale of non-fossil certificatestraded on the market is allocated to the charge for promoting renewable energy
generation, the burden on Japanese consumers from the FIT system is reduced.

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