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Investor Presentaiton

Revision of July 2021 Fiscal Period Forecast (Announced in Sep 2020) - - - Operating revenue -0.4%, DPS -23.0% vs. previous forecast Recorded Covid-related reserve on the back of requests for rent forgiveness/deferral Will carefully respond to rent forgiveness/deferral requests and work to minimize forecast impact Previous Forecast vs. Revised Forecast (DPS-basis, JPY) 一期一会| ICHIGO -30 +11 -165 881 Decrease in Operating Revenue -JPY 18 -19 Covid-related Reserve -JPY 148 Decrease in Interest Expense and Increase in Borrowing-related Expenses 678 Previous Forecast (Sep 14, 2020) Variable Rent Fixed Rent Operating Expenses Non-Operating Expenses Revised Forecast (Mar 17, 2021) O Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. 24 24
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