Creating peace of mind through honest and committed management.

[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.

April 9, 2015
REIT Issuer
Ichigo Real Estate Investment Corporation (8975)
1-1-1, Uchisaiwaicho, Chiyoda-ku, Tokyo
Representative: Yoshihiro Takatsuka, Executive Director
Asset Management Company
Ichigo Real Estate Investment Advisors Co., Ltd.
Representative: Wataru Orii, President & Representative Statutory Executive Officer
Inquiries: Hiroto Tajitsu, Head of Administration
Tel: 03-3502-4891

Execution of Memorandum of Understanding for Additional Sponsor Support
Ichigo Real Estate Investment Corporation (“Ichigo REIT”) and Ichigo Group Holdings(“IGH”) today have signed a Memorandum of Understanding for additional fee-based credit
support from IGH to Ichigo REIT to supplement the unpaid Sponsor Support Agreement
executed on March 26, 2014.
I. Reason for Additional Sponsor Support
In its current Stage IV Increase Size & Scale (November 2014 – October 2015) of its multi-year
growth strategy, Ichigo REIT is working to drive further dividend increases and maximize
shareholder value by strategically focusing its portfolio on mid-size offices, an asset class thatoffers both stability of returns and upside potential.
This new Memorandum of Understanding aims to support Ichigo REIT’s stable growth throughIGH’s provision of supplementary credit support to allow Ichigo REIT to carry out transactions
on an as-needed basis. For details of the original Sponsor Support Agreement, please refer to therelease “Execution of Sponsor Support Agreement and Termination of Information ExchangeAgreement” announced on March 26, 2014.
II. Details of the Memorandum of UnderstandingA) If Ichigo REIT believes that IGH’s credit support is necessary to carry out a certain Ichigo
REIT transaction, Ichigo REIT may notify IGH of the specifics of the transaction and Ichigo
REIT’s judgement as to a reasonable fee to be paid to IGH to provide credit support for theIchigo REIT transaction, discuss and agree with IGH on the nature of the credit support andfee, and request IGH’s credit support for the Ichigo REIT transaction. Covered transactions
include the following:
i.
ii.
iii.
iv.
v.

New borrowings from financial institutions
New investments from equity investors
Acquisitions of assets and trust beneficiary interests in real estate
Services related to the aforementioned transactions
Other transactions related to the operations of Ichigo REIT1B) When Ichigo REIT makes a request and the request does not violate any laws andregulations and is deemed to meet the purpose of this Memorandum of Understanding, uponsigning a credit support agreement IGH will provide credit support to the extent of theagreement, including providing a sponsor support letter, signing a financial guarantee
contract for Ichigo REIT, etc.
C) Ichigo REIT will provide materials and information at the request of IGH for the purpose ofmaking a judgement on the provision of the support.
Website of Ichigo REIT: www.ichigo-reit.co.jp/english

2