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 23, 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

Voting Results of the Fourteenth Shareholder Meeting
The voting results of Ichigo Office’s Extraordinary Shareholder Meeting (FourteenthShareholder Meeting, “EGM”) held today are as follows. Ichigo Office is deeply
grateful for our shareholders’ support and we will continue our commitment tomaximize shareholder value.
1. EGM Agenda(1) Ichigo Office Proposals (Proposals 1~8)
Ichigo Office is proposing to amend the relevant parts of its AOI and the Appointmentof an Executive Director and a Supervisory Director, as follows.
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 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 approvalrequirement)
Proposal 8: Amendment to the Articles of Incorporation (Change upper limit on numberof Directors)

1(2) Berkeley Global, LLC’s (“Berkeley Global”) Proposals (Proposals 11~14)
Proposal 11: Partial amendments to the Articles of Incorporation (regarding abolition ofGains on Merger Performance Fee and Gains on REIT TOB Sale Performance Fee, andadoption of Merger Fee)
Proposal 12: Appointment of Mr. Toru Sugihara as an executive director
Proposal 13: Appointment of Mr. Akihiko Fujinaga as a supervisory director
Proposal 14: Partial amendments to the Articles of Incorporation (regarding adoption ofa cap on remuneration for Executive Directors and Supervisory Directors)(Note) Ichigo Office proposed the withdrawals of Proposal 9: Partial amendments to theArticles of Incorporation (regarding change in the rate of NOI & Dividend PerformanceFee) and Proposal 10: Partial amendments to the Articles of Incorporation (regardingabolition of Gains on Sale Performance Fee, and adoption of Asset Acquisition Fee andAsset Sale Fee) for shareholder approval at the EGM based on notifications receivedfrom Berkeley Global that they are withdrawing the proposals. Because the withdrawals
were approved, the exercise of voting rights for Proposals 9 and 10 have become
invalid.
2. Shareholders and Voting Rights (Shares)
Total Number of Shareholders with Voting Rights: 20,032
Total Number of Voting Rights: 1,513,367
3. Voting Results
Proposal

DeemedApproval
Treatment

For

Ichigo Office Proposals (Proposed by Ichigo Office’s Board of Directors)
Proposal 1 Amendment to the Articles ofIncorporation (Reduce NOI &Applicable 1,415,531
Dividend Performance Fee)
Proposal 2 Amendment to the Articles ofIncorporation (Amend Gains on
Applicable 1,448,651
Sale Performance Fee)
Proposal 3 Amendment to the Articles ofIncorporation (Amend Gains on
N/A904,454
Merger Performance Fee)
Proposal 4 Amendment to the Articles ofIncorporation (Amend Gains on
N/A
904,433
REIT TOB Sale Performance Fee)
Proposal 5 Appointment of Takafumi
N/A
900,149
Kagiyama as Executive Director
Proposal 6 Appointment of Yuji Maruo as
N/A
901,247
Supervisory Director
Proposal 7 Amendment to the Articles ofIncorporation (Reduce upper limit
on Director compensation and add
N/A1,022,557
Director compensation shareholder
approval requirement)
Amendment
to the Articles of
Proposal 8
Incorporation (Change upper limit Applicable 1,190,548
on number of Directors)
2

AgainstFor Votes
as % of
Abstain
TotalVotes

Result84,522

13,29993.54%

Approved

64,6871495.72%

Approved

336,23922

72.90%

Approved

335,405

2272.95%

Approved

348,937114

72.06%

Approved

347,838115

72.15%

Approved

218,02345

82.42%

Approved

322,7902278.67%

Approved

Proposal
Berkeley Global Proposals
Proposal 11 Partial amendments to the Articlesof Incorporation (regardingabolition of Gains on Merger
Performance Fee and Gains on
REIT TOB Sale Performance Fee,and adoption of Merger Fee)
Appointmentof Mr. Toru Sugihara
Proposal 12
as an executive director
Proposal 13 Appointment of Mr. AkihikoFujinaga as a supervisory director
Proposal 14 Partial amendments to the Articles
of Incorporation (regardingadoption of a cap on remuneration
for Executive Directors andSupervisory Directors)

For Votes
as % of
Abstain
Total
Votes

DeemedApproval
Treatment

For

AgainstN/A

280,343959,37140

22.61%

Disapproved

N/A

193,172 1,055,860

151

15.46%

Disapproved

N/A

271,485

977,564150

21.73%

Disapproved

N/A

88,676

1,130,128

118

7.27%

Disapproved(Note 1) The For votes percentage of the proposals to which the Deemed Approval
provision was applied (Proposals 1, 2, and 8) is calculated as the sum of (1) For votes
by shareholders who submitted their voting forms by the date prior to the EGM andshareholders who attended the EGM, and (2) the number of shareholder votes deemed
to be in favor of the proposals under the Deemed Approval provision divided by thetotal number of shareholder votes (excluding invalid votes).
(Note 2) The For votes percentage of the proposals to which the Deemed Approval
provision was not applied (Proposal 3 to 7, and 11 to 14) is calculated as the number of
For votes by shareholders who submitted their voting forms by the date prior to theEGM and shareholders who attended the EGM divided by the total number ofshareholder votes (excluding invalid votes).
(Note 3) Proposals 1 to 4, 7, 8, 11, and 14 were approved as a result of two-thirds ofshareholders in attendance (including votes cast before the EGM) voting For, andshareholders owning more than half of Ichigo Office’s outstanding shares in attendance(including the attendance of shareholders deemed to be in favor of Proposals 1, 2, and 8
to which the Deemed Approval provision was applied).
(Note 4) Proposals 5, 6, 12, and 13 were approved as a result of the majority ofshareholders in attendance (including votes cast before the EGM) voting For.

Reference
Pursuant to Article 93, Clause 1 of the Act on Investment Trusts and Investment
Corporations, Ichigo Office stipulates rules with respect to Japan’s Deemed Approvalsystem for shareholder voting under Article 15, Clauses 1 and 2 of its Articles ofIncorporation.
Ichigo Office Articles of Incorporation Article 15
1. If a shareholder does not attend the shareholder meeting and does not exercise voting
rights, the shareholder shall be deemed to be in favor (“Deemed Approval”) of
shareholder meeting proposals (when multiple proposals are submitted, those proposals
that conflict with each other will be excluded from this Deemed Approval).
3Result2. The number of votes by shareholders deemed to be in favor or shareholder meeting
proposals based on Clause 1 above is added to the number of votes by shareholder inattendance.
3. Clause 2 above is not applicable to proposals regarding the following if (i) a minority
shareholder owning at least 1% of total shares outstanding for at least six consecutive
months submits a notice of opposition to the Investment Corporation (or if the convenerof the shareholder meeting is not the Executive Director or a Supervisory Director, thento the Investment Corporation and the shareholder meeting convener) within two weeksof the earlier of the date that the Investment Corporation announces the proposals on its
website or the date the convener announces the proposal; or (ii) the Investment
Corporation expresses opposition to the proposals in shareholder meeting materials oron its website.
(1) the appointment or dismissal of the Executive Director or Supervisory Directors;(2) the execution or termination of asset management agreements with the AssetManagement Company;(3) the dissolution of the Investment Corporation;(4) reverse share splits;(5) the waiving of the liability of the Executive Director, Supervisory Directors, orExternal Auditors; and(6) approval for absorption-type and consolidation-type (new entity) mergers.
4. Clauses 1 and 2 above are not applicable to proposals regarding amendments toArticle 15.

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