Dear Unitholders,

We would like to express our sincere gratitude for your continued support.

marimo Regional Revitalization REIT, Inc. (“marimo REIT”) was listed on the Tokyo Stock Exchange Real Estate Investment Trust Market in July 2016. Since then, we have invested in and managed properties centering on regional areas as a diversified REIT, thanks largely to the support of our unitholders and other stakeholders. marimo REIT aims to establish a structure serving to create regional societies where people nationwide can live unique lifestyles pleasantly while being hopeful for their region’s future and enabling anyone to take part in regional revitalization through and to enjoy the benefit of investment in marimo REIT.

As of the end of the 15th fiscal period, marimo REIT's real estate portfolio is comprised of 52 properties (owned-property basis), with a total investment amount of 50.14 billion yen (acquisition-price basis), an average appraisal NOI yield of 6.2%, and a period-end occupancy rate of 99.0%. As a result of the above asset management, marimo REIT managed to record operating revenue of 2,081 million yen, operating income of 899 million yen, ordinary income of 711 million yen, and net income of 712 million yen for dividends per unit (including dividends in excess of earnings) of 3,452 yen for the fiscal period under review.

Going forward, interest in ESG (Environmental, Social, and Governance) has grown rapidly in recent years, and marimo REIT recognizes that addressing ESG issues will significantly impact management and business overall, and that efforts toward realizing a sustainable society will contribute to the sustainable growth of marimo REIT. We have positioned addressing ESG issues as a high-priority objective, and will promote ESG initiatives as one of our growth strategies.

By setting “strengthen Japan from regional areas” as a basic principle, marimo REIT will continue to strive to build a diversified portfolio centering on regional areas and be oriented toward securing both “relatively high investment yields” and “stable earnings” as well as steady growth of assets under management and thereby enhance unitholder value over the medium to long term.

We look forward to your continued support and encouragement.

March　2024