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Investor Presentaiton

Performance of Hilton Odawara Resort & Spa In the accommodation sector, the recovery trend in domestic leisure demand due to the reclassification of COVID- 19 as Class 5 was leveraged and sales at high unit prices continued, centering on holidays (spring holidays, Golden Week, O-Bon, year-end), to raise revenues. On the other hand, due to the gradual ending of the nationwide travel discount program, improving weekday occupancy rates is an issue, and we are seeking to increase volume by attracting group guests and inbound travelers. In the restaurant and leisure sectors, due to the improvement in consumer sentiment, the number of non-staying guests eating lunch or the dessert buffet and using the pool or natural hot spring is trending upward, which is contributing to the hotel's performance. Change in Major Indicators (Year-on-Year Comparison) Rent for 43rd FP (Note 1) Base period for (Million yen) 600 500 400 300 200 100 calculation of rent Rent recording Jan. 2022 to Dec. 2022 2023 month Rent (million yen) Mar. 31 Apr. 31 May Jun. 31 31 Jul. 31 Aug. 31 Rent for 44th FP Base period for Jul. 2022 to Jun. 2023 calculation of rent Rent recording month Rent (million yen) 2023 Sep. 31 2024 Oct. 31 Nov. Dec. Jan. 31 31 31 Feb. 31 【Reference] Base period for calculation of rent Odd fiscal periods (fiscal periods ended/ending in Aug.): 12 months from January to December in the previous year Even fiscal periods (fiscal periods ended/ending in Feb.): 12 months from July in the previous year to June in the relevant year Year Month 2022 2023 2024 12 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 MORI TRUST Hotel Reit, Inc. MORI TRUST REIT, Inc. 13th FP 43rd FP 14th FP 43rd FP profits (12-month average) 44th FP Fiscal Period 12th FP 0 Base period for calculation of rent Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Rent Total Sales (Note2) 2019 ■2020 ■2021 ■2022 ■2023 (Note 1) "Rent" shows the value calculated based on the rent calculation method in the lease contract, rounded down to the nearest million yen. (Note 2) "Total sales" is the total amount of sales for the entire hotel (including the interest of the quasi-co-owner MORI TRUST), rounded down to the nearest million yen. 44th FP profits (12-month average) Rent for 43rd FP Rent for 44th FP 39
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