Investor Presentaiton

一期一会| ICHIGO Variable Rent Hotel Details B-1 Capsule Plus Yokohama Yokohama, Kanagawa Location 6-minute walk from Access Yokohama Station on JR/ Subway Line Operator nine hours Inc. Guest Rooms 169 Acquisition JPY 1.49B Price C-1 Smile Hotel Tokyo Asagaya Location Access Suginami-ku, Tokyo 1-minute walk from Asagaya Station on JR Chuo/Sobu Line Operator K.K. Hospitality Operations Guest Rooms 112 Acquisition JPY 3.91B Price capsule+ The hotel operator did not give consent to disclose data. Operating Results (Aug 2021 - Jul 2022) ADR (right) RevPAR (right) 100% 80% Occupancy (left) (JPY) 10,000 8,000 60% 6,000 40% 4,000 20% 2,000 0% 0 Aug 2021 Nov 2021 Feb 2022 May 2022 O Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. 41

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