Investor Presentaiton slide image

Investor Presentaiton

Historical Unit Price Since IPO Index: Date of IPO (NAF: August 4, 2006) = 100 260 240 220 200 180 160 Unit price on May 24, 2007 JPY 515,000 140 120 100 80 60 60 40 Unit price on August 4, 2006 JPY 296,000 NAF Unit Price (Closing Price) 20 0 Unit price on March 13, 2009 JPY 180,500 Tokyo Stock Exchange REIT Index (Closing Price) * Unit price on February 21, 2020 JPY 728,000 Nippon Accommodations Fund Unit price on February 28, 2023 JPY 607,000 06/08 07/02 07/08 08/02 08/08 09/02 09/08 10/02 10/08 11/02 11/08 12/02 12/08 13/02 13/08 14/02 14/08 15/02 15/08 16/02 16/08 17/02 17/08 18/02 18/08 19/02 19/08 20/02 20/08 21/02 21/08 22/02 22/08 23/02 Source: QUICK (unit prices have been retroactively restated to reflect the two-for-one split of NAF investment units on the effective date of March 1, 2014.) * The Tokyo Stock Exchange calculates and presents the Tokyo Stock Exchange REIT Index, a market price index that adopts weighted average aggregation for all real estate investment trusts listed on the Tokyo Stock Exchange. 73
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