Investor Presentaiton

一期一会| ICHIGO July 2024 Dividend Conservative Forecast of Hotel Demand Growth Due to Drop Out of Demand From Japanese Government Travel Subsidy Program. Conservative Forecast of Rental Expenses & Non-Operating Expenses Impact of 5 Newly Acquired Hotels on Dividend: +JPY 137 (+5.29%) Dividend +8 1 2,831 -77⇓ +18 -190 +1371 2,728 25 existing hotels 5 new hotels July 31, 2023 ΝΟΙ Depreciation SG&A Expenses Non-Operating Asset Acquisition Expenses Impact July 31, 2024 O Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. (JPY) 30

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