Investor Presentaiton

一期一会| ICHIGO Variable Rent Hotel Details C-4 HOTEL EMIT SHIBUYA Location Shibuya-ku, Tokyo 6-minute walk from Shibuya Station on JR, Access Tokyu, Keio, and Tokyo Metro Lines Operator Hakata Hotels Inc. Guest Rooms 72 Acquisition Price JPY 3.7B D-2 Hotel Wing International Nagoya Location Access Operator Nagoya 2-minute walk from Marunouchi Station on both Nagoya Subway Network Sakuradori Line and Tsurumai Line Minacia Co., Ltd. Guest Rooms 224 Acquisition JPY 2.67B Price 02- Operating Results (Aug 2021 - Jul 2022) ADR (right) RevPAR (right) Occupancy (left) (JPY) 100% 80% 10,000 8,000 60% 6,000 58 40% 4,000 20% 2,000 0% 0 Aug 2021 Nov 2021 Feb 2022 May 2022 Operating Results (Aug 2021 - Jul 2022) ADR (right) RevPAR (right) Occupancy (left) (JPY) 100% 80% 60% 10,000 8,000 6,000 40% 4,000 2,000 20% 0% Aug 2021 0 Nov 2021 Feb 2022 May 2022 * Aichi Prefecture has temporarily leased all rooms of Hotel Wing International Nagoya starting on January 28, 2022. Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. 42

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