Investor Presentaiton

一期一会| ICHIGO Variable Rent Hotel Details A-1 Nest Hotel Sapporo Ekimae Location Sapporo 5-minute walk from Sapporo Station on Access Sapporo City Metro Namboku Line Nest Hotel Japan Operator Corporation Guest Rooms 162 Acquisition JPY 2.16B Price A-2 Nest Hotel Sapporo Odori Location Access Sapporo 4-minute walk from Odori Station on Sapporo City Metro Namboku Line Nest Hotel Japan Corporation Operator Guest Rooms 121 Acquisition JPY 1.45B Price Operating Results (Aug 2020 - Jul 2021) ADR (right) RevPAR Occupancy (right) (left) (JPY) 100% 7,500 80% 6,000 60% 4,500 40% 3,000 20% 1,500 0% 0 Aug 2020 Nov 2020 Feb 2021 May 2021 Operating Results (Aug 2020 - Jul 2021) ADR (right) RevPAR (right) Occupancy (left) (JPY) 100% 7,500 80% 6,000 60% 4,500 40% 3,000 20% 1,500 0% 0 Aug 2020 Nov 2020 Feb 2021 May 2021 O Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. 37

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