Investor Presentaiton

Synergies Between Ichigo Hotel and Sponsor | - — - Buy Strengthen acquisitions through leveraging Ichigo's sourcing network Increase asset value through Ichigo's real estate value-add capabilities Drive higher returns for Ichigo Hotel shareholders Buy Sponsor: Ichigo (2337) Value-Add Ichigo Hotel (3463) Hotel 一期一会| Sell ICHIGO More Sustainable Make The World 一期一会 | ICHIGO Long-Term Asset Management Role (Grow Earnings for Shareholders) Value-add capex ■ On-going renovation and equipment renewal Increase hotel attractiveness & competitiveness Hard ■ Grow earnings via collaboration with hotel operators ■Grow earnings via rebranding and improving lease terms Grow earnings via optimal cost control Sell Soft Value-Add (Increase Asset Value) Rectify building code issues Seismic and safety reinforcement ■Large-scale structural and equipment renewal ■Change hotel operator/brand Improve lease terms Improve hotel operations ■ Provide operations support (e.g., OneFive Hotels) Third-Party Investors |一期一会| ICHIGO O Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. Sell 99 65 Buy

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