Investor Presentaiton

Hotel Map Hokkaido A-1 Kanto/Koshinetsu Tokyo Hokuriku/Tokai A-2 A-3 B-1 B-2 B-3 C-1 C-3 C-4 a D-1 Nest Hotel Sapporo Ekimae Sapporo Odori Nest Hotel Comfort Hotel Kushiro Capsule Plus Yokohama Comfort Hotel Hotel Sunshine Nagano Utsunomiya Smile Hotel Tokyo Asagaya Hotel Livemax Nihombashi- Hakozaki Kinki (Kyoto/Osaka/Kobe) E-1 Chugoku/Shikoku E-3 F-1 The OneFive Tokyo Shibuya Kyushu F-2 F-3 G-1 G-3 LIS LIMU D-2 D-3 D-4 Comfort Hotel Hamamatsu Hotel Wing International Nagoya Comfort Hotel Central International Airport Comfort Hotel Suzuka ► Sapporo A-1 A-2 • Kushiro A-3 Variable Rent Fixed Rent Smile Hotel Kyoto Shijo The OneFive Osaka Sakaisuji The OneFive Okayama Nest Hotel Matsuyama Urbain Hiroshima Executive The OneFive Fukuoka Tenjin Nest Hotel Kumamoto E-4 E-5 F-4 F-5 F-6 Hotel Wing International Nest Hotel Osaka Kobe Shin Nagata Ekimae Shinsaibashi The OneFive Garden Kurashiki Valie Hotel Hiroshima 一期一会| Washington Hotel Plaza Shimonoseki Eki Nishi ►Nagano B-2 ►Nagoya D-2 ▸ Kyoto E-1 ►Osaka E-3 E-5 Kurashiki F-4 Shimonoseki F-6 25 Hotels JPY 54.7B ► Fukuoka Matsuyama G-1 F-2 Kumamoto Utsunomiya B-3 Tokyo C-1 C-3 C-4 Yokohama B-1 Hamamatsu D-1 Aichi D-3 ►Suzuka D-4 ▸ Kobe E-4 Okayama F-1 Hiroshima F-3 F-5 ICHIGO O Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. (July 2023 rent-basis) 63

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