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Variable Rent Hotel Details E-4 Hotel Wing International Kobe Shin Nagata Ekimae Location Access Kobe 2-minute walk from Shin Nagata Station on JR Kobe Line and JR Sanyo Honsen Line 一期一会| ICHIGO Operator Minacia Co., Ltd. Guest Rooms 133 Acquisition JPY 1.49B Price E-5 Nest Hotel Osaka Shinsaibashi Location Osaka Access Operator 1-minute walk from Nagahoribashi Station on Osaka Municipal Subway Sakaisuji Line Nest Hotel Japan Corporation Guest Rooms 302 Acquisition JPY 7.60B Price BestHOTEL Operating Results (Aug 2021 - Jul 2022) ADR RevPAR (right) (right) Occupancy (left) (JPY) 100% 10,000 80% 8,000 60% 6,000 40% 4,000 20% 2,000 0% 0 Aug 2021 Nov 2021 Feb 2022 May 2022 Operating Results (Aug 2021 - Jul 2022) ADR (right) RevPAR (right) Occupancy (left) (JPY) 100% 7,500 80% 6,000 60% 4,500 40% 3,000 20% 1,500 0% 0 Aug 2021 Nov 2021 Feb 2022 May 2022 O Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. 44

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