Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy
between this translated document and the Japanese original, the original shall prevail.

Advance Residence Investment Corporation (3269)

Summary of Financial Results (REIT)
for the Fiscal Period Ended July 31, 2024
Real Estate Investment Trust Securities Issuer: Advance Residence Investment Corporation
Listing:
Tokyo Stock Exchange
Securities code:
3269
URL:
https://www.adr-reit.com/en/
Representative:
Wataru Higuchi, Executive Director

September 17, 2024

Asset Management Company: ITOCHU REIT Management Co., Ltd.
Representative:
Junichi Shoji, Representative Director, President & CEO
Inquiries:
Isao Kudo, Executive OfficerTelephone:+81-3-6821-5483
Scheduled date of securities report submission:
Scheduled date to commence dividend payments:
Preparation of supplementary material on financial results:
Holding of financial results briefing:

October 22, 2024
October 17, 2024
Yes
Yes (for institutional investors and analysts)(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Results of Operating and Assets for the Fiscal Period Ended July 31, 2024 (from February 1, 2024 toJuly 31, 2024)(1) Operating results(Percentages indicates percentage change from the previous period )Operating revenues

Period ended

Operating income
Millions of yen

Ordinary income

Millions of yen%

July 31, 2024

18,6940.0

8,729 △ 2.2

7,831 △ 2.5

7,830 △ 2.5

January 31, 2024

18,689

0.9

8,925

8,029

8,029

July 31, 2024
January 31, 2024

1.4

Millions of yen

Yen%

5,464
5,662%

Millions of yen

1.1

Ratio of ordinary income
to total assets(ROA)

Return on equity(ROE)

Net income per unit
Period ended%

Net income%

1.1

Ordinary profit tooperating revenue ratio%

3.2
3.4%

1.6
1.7

41.9
43.0(2)Distributions
Dividend perunit (excluding(excluding Dividend

Dividend in excess

in excess ofof earnings)

Period ended

July 31, 2024
January 31, 2024

Total dividendsearnings)

Dividend inexcess ofearnings perunit

Dividend inexcess ofearnings

Ratio ofdistributions
to net assets

Payout ratio

Yen

Millions of yen

Yen

Yen%%

5,925
5,900

8,490
8,454--

108.4
105.3

3.5
3.5

(Note 1) The dividend payout ratio for the fiscal period ended January 31, 2024, is calculated based on the following formula since
new investment units are issued.
Payout ratio = Total dividends (excluding distributions in excess of earnings) ÷ Net income × 100

(Note 2) The source of cash distributions for the periods ended January 31, 2024 and July 31, 2024 include reversal of the reserves
for temporary difference adjustments of 834 million yen and 875 million yen, respectively, which are different from theamount of “Net income”.

(3) Financial positionTotal assets
As ofNet assets

Equity ratio

Net assets per unit

Millions of yen

Millions of yen%

Yen

490,961
480,599245,841
246,11050.1
51.2

171,557
171,744

July 31, 2024
January 31, 2024

(4) Cash flows
Cash flows fromoperating activities
Period ended

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents at end ofperiod

Millions of yen

Millions of yen

Millions of yen

Millions of yen

July 31, 2024

13,455△15,314

1,947

19,901January 31, 2024

12,419△13,616

1,329

19,813

2. Forecasts for the period ending January 31, 2025 (August 1, 2024 to January 31, 2025) and the period
ending July 31, 2025 (February 1, 2025 to July 31, 2025)(Percentages indicates percentage change from the previous period )Operating
Revenues
Period ending

January 31, 2025
July 31, 2025

Millionsof yenOperating
Income％18,279 △2.2
18,573
1.6

Millionsof yenOrdinary Income％8,187 △6.2
8,335
1.8

Millionsof yen％7,231 △7.7
7,305
1.0

(excluding Dividend inexcess of earnings)

Dividend per unit

Dividend inexcess ofearnings per unit％

YenYen7,231 △7.7
7,304
1.0

5,930
5,935－－Net incomeMillionsof yen(Reference) Forecasted net income per unit for the fiscal period ending January 31, 2025: 5,046 yen
Forecasted net income per unit for the fiscal period ending July 31, 2025: 5,097 yen(Note)

The above forecast are based on the following assumptions. The source of funds for the payment of distributions for theperiod ending January 31, 2025 and the period ending July 31, 2025 includes reversal of reserve for temporary differenceadjustments (968 million yen, 675 yen per unit for the period ending January 31, 2025 947 million yen, 661 yen per unit
for the period ending July 31, 2025), and also includes reversal of retained earnings (297 million yen for the period ending
January 31, 2025, and 252 million yen for the period ending July 31, 2025).

3. Others(1) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: None(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None(2) Number of Investment Units Issued and Outstanding(i)

Total number of investment units issued and outstanding at the end of the period (including treasuryunits)
As of July 31, 2024

1,433,000 units

As of January 31, 2024

1,433,000 units(ii) Number of treasury units at the end of the period
As of July 31, 20240 units

As of January 31, 2024

0 units

* Financial results reports are exempt from audit conducted by certified public accountants or an audit firm.
* Special note
(Cautionary Statement Concerning Forward-Looking Statements, etc.)
Forward-looking statements in this material, including forecasts of business results, are based on information
currently available to Advance Residence Investment Corporation (“ADR”) and certain assumptions that are
judged to be reasonable, and are subject to various factors that may affect actual business results. Actual operating
conditions may differ significantly due to various factors. In addition, this forecast is not a guarantee of the amountof distributions.