Investor Presentaiton

一期一会| ICHIGO Variable Rent Hotel Details F-1 The OneFive Okayama Location Okayama 15-minute walk from Okayama Station on Access Sanyo Shinkansen, Sanyo Main Line, Uno Line Operator Hakata Hotels Inc. Guest Rooms 208 Acquisition JPY 1.20B Price F-2 Nest Hotel Matsuyama Location Access Operator Matsuyama, Ehime 25-minute drive from Matsuyama Airport, 3-minute walk from Katsuyamacho Station on lyo Railway Jonan Line Nest Hotel Japan Corporation Guest Rooms Acquisition Price 190 JPY 1.61B Operating Results (Aug 2020 - Jul 2021) ADR (right) RevPAR Occupancy (right) (left) (JPY) 100% 7,500 80% 6,000 60% 4,500 40% 3,000 20% 0% HHT 1,500 0 Aug 2020 Nov 2020 Feb 2021 May 2021 Operating Results (Aug 2020 - Jul 2021) ADR (right) RevPAR (right) Occupancy (left) 100% 9 80% nest HOTEL 60% 40% 20% (JPY) 7,500 6,000 4,500 3,000 1,500 0% 0 Aug 2020 Nov 2020 Feb 2021 May 2021 O Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. 42

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