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Variable Rent Hotel Details E-5 Nest Hotel Osaka Shinsaibashi Location Access Osaka 1-minute walk from Nagahoribashi Station on Osaka Municipal Subway Sakaisuji Line Nest Hotel Japan Corporation Operator Guest Rooms 302 Acquisition JPY 7.60B Price F-1 The OneFive Okayama 一期一会| ICHIGO TheSCHOTEL Operating Results (Aug 2022 - Jul 2023) ADR (right) RevPAR (right) Occupancy (left) (JPY) 100% 10,000 80% 8,000 60% 6,000 40% 4,000 20% 2,000 0% 0 Aug 2022 Nov 2022 Feb 2023 May 2023 Location Okayama Operating Results (Aug 2022 - Jul 2023) ADR (right) RevPAR (right) Occupancy (left) 15-minute walk from Okayama Station on (JPY) 100% 10,000 Access Sanyo Shinkansen, 80% 8,000 Sanyo Main Line, Uno Line 60% 6,000 Operator OneFive Hotels Inc. 40% 4,000 Guest Rooms 208 20% 2,000 Acquisition 0% JPY 1.20B 0 Price Aug 2022 Nov 2022 Feb 2023 May 2023 O Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. 50

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