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.

June 9, 2023
IssuerIchigo Office REIT Investment Corporation (“Ichigo Office,” 8975)
1-1-1 Uchisaiwaicho, Chiyoda-ku, Tokyo
Representative: Keisuke Chiba, Executive Director
www.ichigo-office.co.jp/en
Asset Management Company
Ichigo Investment Advisors Co., Ltd.
Representative: Hiroshi Iwai, President
Inquiries: Yuji Kamo, Head of Ichigo OfficeTel: +81-3-3502-4891

Amendments: Materials for the Fourteenth Shareholder Meeting
Ichigo Office received a notification from Berkeley Global, LLC (“Berkeley Global”) that Berkeley
Global is withdrawing one of its shareholder proposals for the Extraordinary Shareholder Meeting(Fourteenth Shareholder Meeting, “EGM”), Proposal 10, contingent on Ichigo Office notwithdrawing or revising Proposal 2, and Proposal 2 remaining on the EGM agenda, as announced inthe June 6, 2023 release “Receipt of Shareholder Proposal Withdrawal Notification.”
Ichigo Office has agreed to accept the withdrawal, as announced in today’s release “Ichigo Office’s
Position on Berkeley Global’s Shareholder Proposal Withdrawal.” Ichigo Office will ask forshareholder approval of the withdrawal of Proposal 10 at the EGM to be held on Friday, June 23,
2023, and will withdraw the proposal upon approval. (In addition, Ichigo Office will not make anychanges to Proposal 2.)
Because there will be changes to the proposals on the EGM agenda with respect to 1) Deemed
Approval treatment; and 2) voting treatment of conflicting proposals, Ichigo Office is amending theEGM materials as follows:- As announced in the June 1, 2023 release “Receipt of Objection Notification Regarding
Extraordinary Shareholder Meeting Proposals,” Ichigo Office received a shareholder objection
notification objecting to Proposals 5 and 6, and is reflecting the objection in the EGM materials.
- Ichigo Office is making corrections to the Japanese EGM materials that do not impact the English
EGM materials.
- Ichigo Office is also correcting the voting deadline written on the voting form. As announced inthe EGM materials, voting forms that have arrived by Thursday, June 22, 2023, 6:15p.m. JST
will be treated as valid votes.
For updated details on the voting treatment, please see 2. Voting Treatment below.

1(Reference)
EGM Agenda(1) Ichigo Office Proposals (Proposals 1~8)
Ichigo Office is proposing to amend the relevant parts of its AOI and the Appointment of an
Executive Director and a Supervisory Director, as follows.
Proposal 1: Amendment to the Articles of Incorporation (Reduce NOI & Dividend PerformanceFee)
Proposal 2: Amendment to the Articles of Incorporation (Amend Gains on Sale Performance Fee)
Proposal 3: Amendment to the Articles of Incorporation (Amend Gains on Merger PerformanceFee)
Proposal 4: Amendment to the Articles of Incorporation (Amend Gains on REIT TOB SalePerformance Fee)
Proposal 5: Appointment of Takafumi Kagiyama as Executive Director
Proposal 6: Appointment of Yuji Maruo as Supervisory Director
Proposal 7: Amendment to the Articles of Incorporation (Reduce upper limit on Director
compensation and add Director compensation shareholder approval requirement)
Proposal 8: Amendment to the Articles of Incorporation (Change upper limit for number ofDirectors)(2) Berkeley Global Proposals (Proposals 9~14)
Proposal 9: Partial amendments to the Articles of Incorporation (regarding change in the rate ofNOI & Dividend Performance Fee)
Proposal 10: Partial amendments to the Articles of Incorporation (regarding abolition of Gains on
Sale Performance Fee, and adoption of Asset Acquisition Fee and Asset Sale Fee)
Proposal 11: Partial amendments to the Articles of Incorporation (regarding abolition of Gains on
Merger Performance Fee and Gains on REIT TOB Sale Performance Fee, and adoption of MergerFee)
Proposal 12: Appointment of Mr. Toru Sugihara as an executive directorProposal 13: Appointment of Mr. Akihiko Fujinaga as a supervisory director
Proposal 14: Partial amendments to the Articles of Incorporation (regarding adoption of a cap on
remuneration for Executive Directors and Supervisory Directors)
1. Amendments to the EGM Materials
Ichigo Office has underlined the amendments to the EGM materials.
3. Agenda (Page 4)(Before Amendment)
For matched pairs of conflicting proposals (Proposal 1 and Proposal 9; Proposal 2 and Proposal 10;
Proposal 3 and/or 4 and Proposal 11; and Proposal 7 and Proposal 14), in cases where For votes arecast on both proposals (including cases where For votes are cast on either Proposal 3 or 4 andProposal 11), such votes will be deemed invalid.

2(After Amendment)
For matched pairs of conflicting proposals (Proposal 1 and Proposal 9; Proposal 2 and Proposal 10;
Proposal 3 and/or 4 and Proposal 11; and Proposal 7 and Proposal 14), in cases where For votes arecast on both proposals (including cases where For votes are cast on either Proposal 3 or 4 andProposal 11), such votes will be deemed invalid.
After the electronic provision of the EGM materials, Ichigo Office received a notification fromBerkeley Global that they are withdrawing Proposal 10, contingent on Ichigo Office’s Board of
Directors not withdrawing or revising Proposal 2, and Proposal 2 remaining on the EGM agenda,and Ichigo Office has agreed to this withdrawal. Ichigo Office will propose the withdrawal of
Proposal 10 for shareholder approval at the EGM, and upon approval, Proposal 10 will bewithdrawn (Ichigo Office will not make any changes to Proposal 2). If Proposal 10 is withdrawn,
the exercise of voting rights for Proposal 10 will be invalid because Proposal 10, a proposal
conflicting with Proposal 2, will no longer on the EGM agenda. Furthermore, For votes for either
Proposal 2 or Proposal 10 will be treated as For votes for Proposal 2.
EGM Proposals Treatment (Pages 4 and 5)(Before Amendment)
EGM Proposals Treatment
Proposals 1 and 9, Proposals 2 and 10, Proposals 3, 4, and 11, and Proposals 7 and 14 on theEGM agenda are conflicting proposals as stipulated under Article 93, Clause 1 of theInvestment Trusts Act and Article 15, Clause 1 of the AOI.
With respect to Proposals 5 and 6 on the EGM agenda, Ichigo Office received an objection
notification from Berkeley Global regarding Ichigo Trust’s proposals (N.B. these are not on
the EGM agenda, because Ichigo Trust withdrew the proposals) that are effectively the sameas Proposals 5 and 6. Furthermore, the Deemed Approval provision cannot be applied toProposals 12 and 13, pursuant to Article 15, Clause 3 of the AOI, because Ichigo Office hasannounced its objections to these proposals.
The following table summarizes the treatment of each proposal on the EGM agenda.
Ichigo Office Proposals(Proposed by Ichigo Office’s
Board of Directors)
Proposal 1: Amendment tothe Articles of Incorporation(Reduce NOI & Dividend
Performance Fee)
Proposal 2: Amendment tothe Articles of Incorporation(Amend Gains on Sale
Performance Fee)

Berkeley Global Proposals

Conflict
Treatment

DeemedApproval
Treatment

Proposal 9: Partial
N/A
amendments to the Articles ofConflicting (Investment
Incorporation (regarding
Proposals Trusts Act/change in the rate of NOI &AOI)
Dividend Performance Fee)
Proposal 10: Partial
amendments to the Articles ofN/AIncorporation (regarding
Conflicting (Investment
abolition of Gains on Sale
Proposals Trusts Act/
Performance Fee, andAOI)
adoption of Asset Acquisition
Fee and Asset Sale Fee)

3Proposal 3: Amendment tothe Articles of Incorporation(Amend Gains on Merger
Performance Fee)

Proposal 11: Partial
amendments to the Articles ofIncorporation (regardingN/A
abolition of Gains on Merger Conflicting (Investment
Performance Fee and Gains
Proposals Trusts Act/on REIT TOB SaleAOI)
Performance Fee, andadoption of Merger Fee)

Proposal 4: Amendment tothe Articles of Incorporation(Amend Gains on REIT TOBSale Performance Fee)
Proposal 12: Appointment of
Proposal 5: Appointment of
N/AMr. Toru Sugihara as an
Takafumi Kagiyama as(AOI)
executive director
Executive Director
Proposal 6: Appointment of
Proposal 13: Appointment of
N/AYuji Maruo as Supervisory
Mr. Akihiko Fujinaga as a(AOI)
Directorsupervisory director
Proposal 7: Amendment toProposal 14: Partial
the Articles of Incorporation
amendments to the Articles ofN/A(Reduce upper limit on
Incorporation (regarding
Conflicting (InvestmentDirector compensation andadoption of a cap on
Proposals Trusts Act/
add Director compensation
remuneration for ExecutiveAOI)
shareholder approval
Directors and Supervisoryrequirement)
Directors)
Proposal 8: Amendment tothe Articles of Incorporation
Applicable(Change upper limit on
number of Directors)
The conflicting Ichigo Office and Berkeley Global proposals are in the boxes above outlinedin bold. Please note that in cases where For votes are cast on both proposals (including cases
where For votes are cast on either Proposal 3 or 4 and Proposal 11), such votes will be void.
Given the above, the Deemed Approval provision will not be applied to the proposals onthe EGM agenda except Proposal 8. With respect to Proposal 8 for which the Deemed
Approval will be applied, please note that under the Deemed Approval rules if you donot attend the EGM or exercise your voting right by submitting your vote, you will bedeemed to be in favor of the proposal.

4

(After Amendment)
EGM Proposals Treatment
Proposals 1 and 9, Proposals 2 and 10, Proposals 3, 4, and 11, and Proposals 7 and 14 on theEGM agenda are conflicting proposals as stipulated under Article 93, Clause 1 of theInvestment Trusts Act and Article 15, Clause 1 of the AOI.
With respect to Proposals 5 and 6 on the EGM agenda, Ichigo Office received an objection
notification from Berkeley Global regarding Ichigo Trust’s proposals (N.B. these are not on
the EGM agenda, because Ichigo Trust withdrew the proposals) that are effectively the sameas Proposals 5 and 6 (Ichigo Office also received an objection notification from Berkeley
Global regarding Ichigo Office’s Proposals 5 and 6 at a later date). Furthermore, the DeemedApproval provision cannot be applied to Proposals 12 and 13, pursuant to Article 15, Clause
3 of the AOI, because Ichigo Office has announced its objections to these proposals.
The following table summarizes the treatment of each proposal on the EGM agenda.
Ichigo Office Proposals(Proposed by Ichigo Office’s
Board of Directors)
Proposal 1: Amendment to
the Articles of Incorporation(Reduce NOI & Dividend
Performance Fee)
Proposal 2: Amendment to
the Articles of Incorporation(Amend Gains on Sale
Performance Fee)

Proposal 3: Amendment to
the Articles of Incorporation(Amend Gains on Merger
Performance Fee)
Proposal 4: Amendment to
the Articles of Incorporation(Amend Gains on REIT TOB
Sale Performance Fee)
Proposal 5: Appointment ofTakafumi Kagiyama as
Executive Director
Proposal 6: Appointment ofYuji Maruo as Supervisory
Director
Proposal 7: Amendment tothe Articles of Incorporation(Reduce upper limit on
Director compensation andadd Director compensation
shareholder approvalrequirement)

Berkeley Global Proposals

Conflict
Treatment

DeemedApproval
Treatment

Proposal 9: Partial
N/A
amendments to the Articles ofConflicting (Investment
Incorporation (regarding
Proposals1 Trusts Act/change in the rate of NOI &AOI)
Dividend Performance Fee)
Proposal 10: Partialamendments to the Articles ofN/A
Incorporation (regarding
Conflicting (Investment
abolition of Gains on Sale
Proposals1 Trusts Act/
Performance Fee, andAOI)2
adoption of Asset Acquisition
Fee and Asset Sale Fee)
Proposal 11: Partial
amendments to the Articles ofIncorporation (regardingN/A
abolition of Gains on Merger Conflicting (Investment
Performance Fee and Gains
Proposals1 Trusts Act/on REIT TOB SaleAOI)
Performance Fee, andadoption of Merger Fee)
Proposal 12: Appointment ofN/A
Mr. Toru Sugihara as an(AOI)
executive director
Proposal 13: Appointment ofN/AMr. Akihiko Fujinaga as a(AOI)
supervisory director
Proposal 14: Partialamendments to the Articles ofN/AIncorporation (regardingConflicting (Investmentadoption of a cap on
Proposals1 Trusts Act/remuneration for Executive
AOI)
Directors and SupervisoryDirectors)

5

Proposal 8: Amendment tothe Articles of Incorporation
Applicable(Change upper limit on
number of Directors)
1
The conflicting Ichigo Office and Berkeley Global proposals are in the boxes above
outlined in bold. Please note that in cases where For votes are cast on both proposals(including cases where For votes are cast on either Proposal 3 or 4 and Proposal 11), suchvotes will be void.
After the electronic provision of the EGM materials, Ichigo Office received a notificationfrom Berkeley Global that they are withdrawing Proposal 10, contingent on Ichigo Office’s
Board of Directors not withdrawing or revising Proposal 2, and Proposal 2 remaining on theEGM agenda, and Ichigo Office has agreed to the withdrawal. Ichigo Office will propose
the withdrawal of Proposal 10 for shareholder approval at the EGM, and upon approval,
Proposal 10 will be withdrawn (Ichigo Office will not make any changes to Proposal 2). If
Proposal 10 is withdrawn, the exercise of voting rights for Proposal 10 will be invalid
because Proposal 10, a proposal conflicting with Proposal 2, will no longer on the EGM
agenda. Furthermore, For votes for either Proposal 2 or Proposal 10 will be treated as For
votes for Proposal 2.
2

As described above, if Proposal 10 is withdrawn, the Deemed Approval provision will beapplied to Proposal 2 because there will no longer be a conflicting proposal on the EGM
agenda.

Given the above, the Deemed Approval provision will not be applied to the proposals on
the EGM agenda except Proposal 8 (and Proposal 2 if Proposal 10 is withdrawn). With
respect to Proposal 8 (and Proposal 2 if Proposal 10 is withdrawn) for which theDeemed Approval will be applied, please note that under the Deemed Approval rules if
you do not attend the EGM or exercise your voting right by submitting your vote, youwill be deemed to be in favor of the proposal.

62. Voting Treatment
If Proposal 10 is withdrawn, the treatment of each proposal on the EGM agenda will be as follows.
The conflicting Ichigo Office and Berkeley Global proposals are in the boxes below outlined inbold.
Ichigo Office Proposals(Proposed by Ichigo Office’s
Board of Directors)
Proposal 1: Amendment to
the Articles of Incorporation(Reduce NOI & Dividend
Performance Fee)
Proposal 2: Amendment to
the Articles of Incorporation(Amend Gains on Sale
Performance Fee)
Proposal 3: Amendment to
the Articles of Incorporation(Amend Gains on Merger
Performance Fee)
Proposal 4: Amendment to
the Articles of Incorporation(Amend Gains on REIT TOB
Sale Performance Fee)
Proposal 5: Appointment of
Takafumi Kagiyama as
Executive Director
Proposal 6: Appointment ofYuji Maruo as Supervisory
Director
Proposal 7: Amendment tothe Articles of Incorporation(Reduce upper limit on
Director compensation andadd Director compensation
shareholder approvalrequirement)
Proposal 8: Amendment tothe Articles of Incorporation(Change upper limit on
number of Directors)

Berkeley Global Proposals

Conflict
Treatment

DeemedApproval
Treatment

Proposal 9: PartialN/A
amendments to the Articles ofConflicting (Investment
Incorporation (regarding
Proposals Trusts Act/change in the rate of NOI &AOI)
Dividend Performance Fee)
(Proposal 10: Withdrawn)
Applicable
Proposal 11: Partial
amendments to the Articles ofIncorporation (regardingN/A
abolition of Gains on Merger Conflicting (Investment
Performance Fee and Gains
Proposals Trusts Act/on REIT TOB SaleAOI)
Performance Fee, andadoption of Merger Fee)
Proposal 12: Appointment ofN/A
Mr. Toru Sugihara as an(AOI)
executive director
Proposal 13: Appointment ofN/A
Mr. Akihiko Fujinaga as a(AOI)
supervisory director
Proposal 14: Partial
amendments to the Articles ofN/A
Incorporation (regarding
Conflicting (Investmentadoption of a cap on
Proposals Trusts Act/remuneration for ExecutiveAOI)
Directors and Supervisory
Directors)
Applicable(1) Deemed Approval Treatment
If Proposal 10 is withdrawn, Deemed Approval will be applied to Proposals 2 and 8, as shown
above. Therefore, if a shareholder does not attend the shareholder meeting and does not exercise
voting rights, the shareholder shall be deemed to be in favor of the proposals.

7(2) Treatment of Votes Submitted Via Voting Forms(Treatment of Votes for Conflicting Proposals)
Please note that in cases where For votes are cast on conflicting proposals (proposals in boxes
outlined in bold above), including cases where For votes are cast on either Proposal 3 or 4 andProposal 11, such votes will be invalid.
If Proposal 10 is withdrawn, the exercise of voting rights for Proposal 10 will be invalid because
Proposal 10, a proposal conflicting with Proposal 2, will no longer on the EGM agenda.
Furthermore, For votes for either Proposal 2 or Proposal 10 will be treated as For votes forProposal 2.
(3) Voting Deadline
Ichigo Office is correcting the voting deadline written on the voting form.
(Before Correction)
Please ensure your voting form arrives no later than Thursday, June 22, 2023, 6p.m. JST.
(After Correction)
Please ensure your voting form arrives no later than Thursday, June 22, 2023, 6:15p.m. JST.
As written on page 1 of the EGM materials, voting forms that are received by Thursday, June 22,2023, 6:15p.m. JST will be treated as valid votes.

8