Investor Presentaiton

Variable Rent Hotel Details F-5 Valie Hotel Hiroshima Location Hiroshima Access 3-minute walk from Jogakuin-mae Station on Hiroden Tram Line 80% 60% Operator The Court Co., Ltd. 40% Guest Rooms 171 20% Operating Results (Aug 2022 - Jan 2023) ADR (right) RevPAR Occupancy (right) (left) (JPY) 100% 10,000 8,000 6,000 4,000 2,000 Acquisition Price JPY 1.50B 0% Aug 2022 Nov 2022 Feb 2023 May 2023 * Hiroshima Prefecture temporarily leased all rooms of the Valie Hotel Hiroshima until March 31, 2023. G-1 The OneFive Fukuoka Tenjin Operating Results (Aug 2022 - Jan 2023) ADR (right) RevPAR (right) Occupancy (left) (JPY) 12,500 10,000 7,500 5,000 20% 2,500 Location Fukuoka 6-minute walk from Tenjin Station on Access Fukuoka City Subway Kuko Line 100% 80% 60% Operator OneFive Hotels Inc. 40% Guest Rooms 77 Acquisition JPY 1.38B 0% Price 一期一会| ICHIGO 0 Aug 2022 Nov 2022 Feb 2023 May 2023 O Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. 52 52

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