Investor Presentaiton

一期一会| ICHIGO Variable Rent Hotel Details E-3 The OneFive Osaka Sakaisuji Location Osaka 5-minute walk from Sakaisuji-Hommachi Operating Results (Aug 2022 - Jul 2023) ADR (right) RevPAR (right) Occupancy (left) (JPY) Access Station on Osaka Municipal Subway Chuo Line 100% 80% 10,000 8,000 60% 6,000 Operator OneFive Hotels Inc. 40% 4,000 Guest Rooms 130 20% Acquisition Price JPY 1.63B H 2,000 0% 0 Aug 2022 Nov 2022 Feb 2023 May 2023 E-4 Hotel Wing International Kobe Shin Nagata Ekimae Location Kobe Access 2-minute walk from Shin Nagata Station on JR Kobe Line and JR Sanyo Honsen Line Minacia Co., Ltd. Operator Guest Rooms 133 Acquisition JPY 1.49B Price Operating Results (Aug 2022 - Jul 2023) ADR (right) RevPAR (right) Occupancy (left) (JPY) 100% 10,000 80% 8,000 60% 40% 20% MIMAN H 6,000 4,000 2,000 0% 0 Aug 2022 Nov 2022 Feb 2023 May 2023 O Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. 49

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