Ichigo Preserves and Improves Real Estate

November 21, 2016
IssuerIchigo Green Infrastructure Investment Corporation (9282)
1-1-1 Uchisaiwaicho, Chiyoda-ku, Tokyo
Representative: Mami Nagasaki, Executive Director
Asset Management Company
Ichigo Investment Advisors Co., Ltd.
Representative: Wataru Orii, President
Inquiries: Hiroto Tajitsu, Head of Business Administration
Tel: +81-3-3502-4854

Issue Price for New Share Issuance
Ichigo Green Infrastructure Investment Corporation (“the Ichigo Green Infrastructure
Fund” or “the Fund”) has determined the issue price for the issuance of new shares for
its initial public offering (IPO) and over-allotment secondary share offering to theunderwriter resolved at its board meeting on October 24, 2016.
I.

Issuance of New Shares through Public Offering (General Offering)(A) Number of shares to be offered(B) Issue price (offer price)(C) Total issue price (total offer price)(D) Paid-in amount (issue amount)(E) Total paid-in amount (total issue amount)(F) Subscription period(G) Payment date(H) Delivery date

47,180 shares
JPY 100,000 per share
JPY 4,718,000,000
JPY 96,000 per share
JPY 4,529,280,000
November 22, 2016 toNovember 28, 2016
November 30, 2016
December 1, 2016

The shares will be underwritten in full by the underwriters at the paid-in amount(issue amount) and offered as a public offering at the issue price (offer price).
II. Secondary Share Offering (Over-Allotment Option)(A) Number of shares to be offered(B) Offer price(C) Total offer price(D) Subscription period

3,000 shares
JPY 100,000 per share
JPY 300,000,000
November 22, 2016 toNovember 28, 2016
December 1, 2016

(E) Delivery date

Disclaimer: This translation is for informational purposes only. If there is any discrepancy between the Japanese version and the English translation, the Japanese version shallprevail. This document is an English translation of a press release for public announcement regarding the issue price for new share issuance by the Ichigo GreenInfrastructure Fund, and has not been prepared for the purpose of solicitation of investment. We caution investors to refer to the Ichigo Green Infrastructure Fund's
prospectus and notice of amendments thereto, if any, without fail and to undertake investment at their own decision and responsibility.

1III. New Shares to be Offered to the Underwriter by Way of Third-Party Allotment(A) Paid-in amount (issue amount)(B) Total paid-in amount (total issue amount)(C) Subscription period (subscription date)(D) Payment date

JPY 96,000 per share
JPY 288,000,000
December 22, 2016
December 26, 2016

If there are any shares which are not subscribed by the subscription deadline
described in (C), the issuance of such shares will be cancelled.
IV. Calculation of Issue Price
The issue price has been determined through a book building process focused on
institutional investors and based on the preliminary pricing terms of between
95,000 and 100,000 per share.
The book building process resulted in (i) total market demand exceeding thenumber of shares being offered; (ii) a large number of investors indicating that theywanted to participate in the offering; and (iii) most investors showing demand at theupper limit of the preliminary pricing terms.
The issue price has been fixed at JPY 100,000 based on the above book building
results and taking into account the current market environment and the risk of pricevolatility until the listing date.
The paid-in amount per share after underwriter fees and listing costs is JPY 96,000.
The over-allotment secondary offering price and paid-in amount per share havebeen fixed at JPY 100,000 and JPY 96,000, respectively, which are the same levels
as the public offering.
* Distribution of this material: the Kabuto Club, the press club of the Ministry of Land,Infrastructure, Transport, and Tourism, and the press club for construction industry
newspapers at the Ministry of Land, Infrastructure, Transport, and Tourism.

Disclaimer: This translation is for informational purposes only. If there is any discrepancy between the Japanese version and the English translation, the Japanese version shallprevail. This document is an English translation of a press release for public announcement regarding the issue price for new share issuance by the Ichigo GreenInfrastructure Fund, and has not been prepared for the purpose of solicitation of investment. We caution investors to refer to the Ichigo Green Infrastructure Fund's
prospectus and notice of amendments thereto, if any, without fail and to undertake investment at their own decision and responsibility.

2