Ichigo Office REIT Investment : Greenhouse Gas Reduction Targets Certified as Science Based Targets

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.

May 22, 2024

Issuer

Ichigo Office REIT Investment Corporation ("Ichigo Office," 8975) 2-6-1Marunouchi, 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 Office

Tel: [phone]

Ichigo's Greenhouse Gas Reduction Targets

Certified as Science Based Targets

Ichigo Office has made sustainability a key management priority and actively engages in ESG (Environmental, Social, and Governance) initiatives.

Ichigo Office's sponsor Ichigo (2337) has been certified by the SBT Initiative for its Science Based Targets ("SBT"), greenhouse gas reduction targets set by companies in line with the Paris Agreement goals. Ichigo commits to reduce absolute Scope 1 and 2 GHG emissions 70% by FY2030 from a FY2022 base year. Ichigo also commits to reduce absolute Scope 3 GHG emissions 25% within the same timeframe. Ichigo's targets are aligned with a rate of decarbonization consistent to keep global temperature increase to 1.5℃ compared to pre-industrial temperatures, which is more aggressive than the well-below 2℃ (WB2℃) target. These targets cover greenhouse gas emissions emitted by Ichigo, Ichigo Office, Ichigo Hotel (3463), and Ichigo Green (9282).

1. Ichigo's Certified Greenhouse Gas Reduction Targets

		Target	Target Year
Scope 1	Direct emissions owned or
controlled by a company
	70% Reduction
	Indirect emissions associated with
	(2022 base year)
Scope 2	the purchase of electricity, heat, or
	cooling		2030
	Indirect emissions that are not
Scope 3	Scope 1 or 2 (emissions by third-	25% Reduction
party companies related to a	(2022 base year)
	company's business activities)

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2. SBT Overview

SBT are greenhouse gas reduction targets set by companies covering a minimum of 5 years and a maximum of 15 years in line with the Paris Agreement goals of reducing Scope 1 and 2 emissions to keep the global temperature increase to 1.5℃ compared to pre-industrial temperatures, and Scope 3 emissions to well-below 2℃. SBT were established in 2015 by the CDP (a global non-profit organization that runs the world's environmental disclosure system with respect to climate, water, and forestry), UNGC (United Nations Global Compact), WRI (World Resources Institute), and WWF (World Wildlife Fund), with c. 4,700 companies worldwide receiving SBT certifications for their 1.5℃ targets.

3. Ichigo's Initiatives

Ichigo Office believes companies exist to serve society and is committed to contributing to a sustainable society. Its sponsor Ichigo, a sustainable infrastructure company has made sustainability a key business and social priority as a responsible corporate citizen, and sustainability remains at the core of everything we do.

Ichigo's Sustainable Real Estate business preserves and improves real estate, lengthening buildings' useful lives beyond 100 years, and its Clean Energy business makes productive use of idle land to produce renewable energy and reduce Ichigo's environmental impact.

Ichigo is committed to contributing to a better world that can be handed to future generations, and will accelerate its initiatives to achieve its ambitious greenhouse gas reduction targets towards realizing a net zero carbon society. Under its Ichigo 2030vision, Ichigo has set KPIs to work for a sustainable planet and address environmental issues including climate change. In achieving these KPIs, Ichigo will maintain Climate Positive (CO2 reduction > emissions, including Scope 1 and 2 emissions by Ichigo, Ichigo Office, Ichigo Hotel, and Ichigo Green), and transition electricity used to 100% renewable electricity across all operations by 2025.

Please refer to Ichigo's release "Updated Ichigo 2030KPIs" for details.

www.ichigo.gr.jp/news/p_news_file/file/Ichigo_20240415_Updated_Ichigo2030_KPIs_ENG.pdf

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