Investor Presentaiton

Notes (3) P.36 (1) For the July and August 2023 values for the West, since the U.S., Canada, Mexico, U.K., France, Germany, Italy, Spain, Russia, and Scandinavia have only disclosed estimates as of October 11, 2023, the comparisons with July and August 2019 are calculated based on the total of these estimates and the total of the results for the same countries and regions in July and August 2019. (2) For the July and August 2023 values for Asia (excluding China), since South Korea, Taiwan, Hong Kong, Thailand, Singapore, Malaysia, Indonesia, the Philippines, Vietnam, and India have only disclosed estimates as of October 11, 2023, the comparisons with July and August 2019 are calculated based on the total of these estimates and the total of the results for the same countries in July and August 2019. In the Middle East regions, since the aggregation criteria differ in 2019 and 2023, calculation of the comparisons with July and August 2019 has been omitted. p.37 (1) Base month (period) for rent represents the month (period) used as the base for calculating rent. Indicators for respective hotels (Occupancy rate, ADR and RevPAR) show the relevant values of respective hotels for each base month for rent. The indicators of SL and HO are not disclosed, however, as no consent to disclosure has been obtained from the end tenant. The base month for rent is the month four months prior to the rent recording month for SL, and the month three months prior to the rent recording month for CYT and CYO, respectively. For HO, the base period for calculation of rent, which for the 13th FP of MTH corresponds to the period from January 2021 to December 2021, and which for the 43rd FP corresponds to the period from January 2022 to December 2022, is used. (2) Rent recording month represents the month for which MTR records rent revenues. Rent indicates the rent for each rent recording month. Rent shows the actual value for each property, rounded down to the nearest million yen. The same applies thereafter. As a result of the partial transfer of CYT conducted on August 31, 2021, the rent and the difference from the minimum guaranteed rent of CYT recorded on or after September 1, 2021 are the amount equivalent to 94.5% quasi-co-ownership interest in the trust beneficiary interest owned by MTR. The same applies thereafter. As a result of the partial transfer of CYT conducted on August 31, 2022, the rent and the difference from the minimum guaranteed rent of CYT recorded on or after September 1, 2022 are the amount equivalent to 93.5% quasi-co-ownership interest in the trust beneficiary interest owned by MTR. The same applies thereafter. (3) At CYT, since there is the difference (shortfall) of 274 million yen between the total amount of rent for the period from October 2021 to September 2022 and the minimum annual guaranteed rent, 251 million yen (out of this amount, the amount equivalent to 94.5% quasi-co-ownership interest in the trust beneficiary interest owned by MORI TRUST REIT is 237 million yen.) was added to the rent for the 13th fiscal period of MTH and also 22 million yen (out of this amount, the amount equivalent to 93.5% quasi-co-ownership interest in the trust beneficiary interest owned by MORI TRUST REIT is 21 million yen.) will be added to the rent for the 14th fiscal period of MTH separately. (4) At CYO, since there is the difference (shortfall) of 412 million yen between the total amount of rent for the period from October 2021 to September 2022 and the minimum annual guaranteed rent, 378 million yen was added to the rent for the 13th fiscal period of MTH and also 34 million yen will be added to the rent for the 14th fiscal period of MTH separately. P.38 (1) Base month (period) for rent represents the month (period) used as the base for calculating rent. Indicators for respective hotels (Occupancy rate, ADR and RevPAR) show the relevant values of respective hotels for each base month for rent. The indicators of SL and HO are not disclosed, however, as no consent to disclosure has been obtained from the end tenant. The base month for rent is the month four months prior to the rent recording month for SL, and the month three months prior to the rent recording month for CYT and CYO, respectively. For HO, the base period for calculation of rent, which for the 14th FP of MTH corresponds to the period from July 2021 to June 2022, and which for the 43rd FP corresponds to the period from January 2022 to December 2022, is used. 65

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