Investor Presentaiton

Rental Apartments Characteristics 1 Location Other Major Cities 7.0% Greater Tokyo 4.5% 3 Property Age 20 years or more 10.8% Tokyo CBD 30.8% Tokyo 23 wards: 88.5% * Tokyo CBD (Central Business District) includes Minato, Chuo and Chiyoda wards. Tokyo 23 Wards excluding Tokyo CBD 57.7% Average: 16.7 years (14.8 years excluding Okawabata) *The calculations are based on individual property age as of August 31, 2023. 2 Category Single and Compact Units: 83.4% *Calculation based on unit categories as of August 31, 2023. Large 4.1% Family 12.5% Single 41.9% Compact 41.5% 4 Unit Area 15-20 years 58.6% 80 m2 or more 4.6% Nippon Accommodations Fund Less than 5 years 2.8% 5-10 years 9.3% 10-15 years 18.5% Average: 42.0 m² per Unit 60-80 m² 12.1% 50-60 m² 12.8% 40-50 m² 16.0% Less than 30 m² 35.1% 30-40 m² 19.4% <30m² ≥30 m² <40 m² ≥40 m² ≥50 m² ≥60 m² <50 m² ≥70 m² ≥80 m² ≥90 m² <60 m² <70 m² <80 m² <90 m² <100 m² ≥100 m² STUDIO 1BED 2BED 3BED 4BED S LL LLLF LLFL LLFF CCCF CCC SS CC L L 5 Monthly Rent per Unit L L L L Average: JPY 300,000-500,000 JPY 500,000 or more 3.9% JPY 200,000- 300,000 19.0% 0.6% Less than JPY 100,000 22.6% וד F F F F L JPY 157 thousand per Unit Studio: 1K, studio 1 Bed: 1DK, 1LDK, 1LDK + utility room 2 Bed: 2DK, 2LDK, 2LDK + utility room 3 Bed: 3DK, 3LDK, 3LDK + utility room 4 Bed: 4DK, 4LDK, 4LDK + utility room JPY 150,000- JPY 100,000- *Calculation based on total monthly rent (rent and common area fees) per unit as of August 31, 2023. 200,000 150,000 22.8% 31.1% * The data above are calculations for rental apartments owned as of August 31, 2023, and do not include Hospitality Facilities. *The calculations for graphs 1 and 3 are based on acquisition price. * The calculations for graphs 2, 4, and 5 are based on units, excluding retail units. 30

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