Investor Presentaiton

Contents Nippon Accommodations Fund Overview Financial Highlights Internal Growth / Historical Occupancy Rates 57 7 Appendix (2): Business Environment Trends in Apartment Rents Supply and Demand of Rental Apartments 53 Internal Growth / Rent Trends at Tenant Turnover 8 Tokyo 23 Wards 54 Internal Growth / Rent Trends at Renewal 10 Tokyo: Trends in Population and Number of Households 55 Demand for Rental Apartments Internal Growth / Rent Trends of Rental Apartments 11 - Other Major Cities 56 Status of External Growth 12 Supply of Rental Apartments External Growth Strategy 13 Regional Areas 57 40 Capital Expenditures 14 Sustainability Initiatives 15 Appendix (3): Financial Details Financial Strategy and Credit Ratings 16 Interest-Bearing Debt Unrealized Profit / Loss 18 Historical Operating Performance Forecasts Balance Sheet and Income Statement 59 62 63 (36th Period: September 2023 February 2024) (37th Period: March 2024 - August 2024) Track Record of Distributions 19 21 Features and Strategies Appendix (4): Sustainability Initiatives Sustainability Initiatives 65 Features and Strategies (1) Appendix (5): Others Investment in Accommodation Assets_ 25 Features and Strategies (2) Structure of the REIT Leveraging the Mitsui Fudosan Group_ 26 Unitholders Appendix (1): Portfolio Historical Unit Price Since IPO Disclaimer 1 72 73 71 75 Track Record of External Growth Rental Apartments Characteristics Tenant Characteristics Hospitality Facilities Owned Portfolio Map Portfolio List 29 30 31 32 33 34 Appraisal Value 39 Occupancy Rates 44 Historical Occupancy Rates Since IPO_ 49 Occupancy Rates by Area_ 50 Occupancy Rates by Category_ 51 3

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