Investor Presentaiton

Portfolio List (5/5) Nippon Accommodations Fund No. Property Name Location Completion Acquisition Acquisition Price Portfolio Share Date¹ Date¹ (JPY mn)² Rentable Area Rentable Units PML (%) (m²) (Units)³ Single Compact Family Large Retail, etc. (%) 76 Dormy Ashiya Ashiya-shi, Hyogo 77 Dormy Kyoto Nijyo Nakagyo-ku, Kyoto-shi, Kyoto 78 Sundai Horikawa Ryo 81 Dormy Naka Itabashi 82 Philosophia Nishidai 83 Dormy Musashi Kosugi 89 Artis Sendai Kakyoin 90 Artis Sendai Kimachi Dori Kamigyo-ku, Kyoto-shi, Kyoto 2002.09 2011.03 2004.03 2011.03 2005.02 928 0.3 3,729.45 140 - 6.6 991 0.3 3,492.88 134 - 12.9 2011.03 916 0.3 2,793.71 113 - - - - - 8.8 80 Rikkyo University International Dormitory (RUID) Shiki Shiki-shi, Saitama 2010.01 2011.03 1,478 0.4 3,061.89 127 - 3.0 Itabashi-ku, Tokyo 2010.02 2011.03 1,041 0.3 2,439.17 106 - - 5.5 Itabashi-ku, Tokyo 2010.02 2011.03 1,249 0.4 2,969.25 121 - - 5.3 Nakahara-ku, Kawasaki-shi, Kanagawa 2010.03 2011.03 1,152 0.3 3,017.34 112 - 7.3 Aoba-ku, Sendai-shi, Miyagi 2008.12 2012.03 540 0.2 2,234.24 60 3.0 Aoba-ku, Sendai-shi, Miyagi 2010.03 2012.03 1,160 0.3 4,864.04 142 - 2.7 118 Medical Home Granda Sangen Jaya (Land with leasehold interest) Setagaya-ku, Tokyo 2015.03 735 0.2 - - - 119 Dormy Nishi Ogikubo Suginami-ku, Tokyo 1992.03 2016.03 1,100 0.3 1,616.52 71 - - - - 123 Granda Kanazawa Hakkei Kanazawa-ku, Yokohama-shi, Kanagawa 2012.06 2017.06 774 0.2 1,826.29 58 124 Dormy Kamisugi 128 Dormy Odawara 131 Chisun Hotel Hiroshima 136 Campus terrace Waseda Aoba-ku, Sendai-shi, Miyagi 1997.03 Miyagino-ku, Sendai-shi, Miyagi 1998.02 2019.01 Naka-ku, Hiroshima-shi, Hiroshima 1986.11 2019.05 Bunkyo-ku, Tokyo 2017.06 1,050 0.3 3,151.56 124 - 521 0.2 2,452.14 78 - 1,880 0.6 4,275.59 170 2020.01 2021.04 1,810 0.5 1,747.51 82 8.8 9.6 4.6 0.2 6.4 3.5 Hospitality Facilities Total 17,325 5.1 43,671.58 1,638 - Grand Total 339,966 100.0 539,260.00 13,286 4,856 4,814 1,456 475 47 2.5 As of February 28, 2023 1. Completion date and acquisition date in the case of multiple properties are the earliest dates of completion and acquisition, respectively, among relevant properties. 2. Acquisition price does not include acquisition-related expenses, property tax or consumption tax. 3. Calculation of rentable units in each category is based on categories as of February 28, 2023. The breakdown of classified units of each property may change in future due to change of floor plans, etc. 4. Rentable units and rentable area for Shibaura Island Air Tower are calculated by multiplying NAF's ownership (31%) by the property's total rentable units and total rentable area and rounding to the nearest unit and one-hundredth of a square meter, respectively. 5. Rentable units and rentable area for Park Axis Akatsuka are calculated by multiplying NAF's ownership (55%) by the property's total rentable units and total rentable area and rounding to the nearest unit and one-hundredth of a square meter, respectively. 6. Portfolio PML is the PML for all NAF's portfolio, 133 properties excluding Medical Home Granda Sangen Jaya (Land with leasehold interest). (Portfolio PML)6 38

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