Investor Presentaiton

一期一会| ICHIGO August 2023 Initiatives - - Third-Party Share Allotment Best Approach to Minimize Share Price Impact & Share Dilution & Maximize New Share Proceeds on Behalf of Ichigo Hotel Shareholders Issuing shares at previous day's closing price - no Ichigo Hotel share price impact Issuing shares at no discount (unlike J-REIT public offerings, which almost always require a discount) - No public offering costs Overview of New Share Issuance No. Of Shares Being Offered Issue Price Total Issue Amount Offering Method Allottees & Number of Shares 72,515 shares JPY 111,700 per share JPY 8,099,925,500 Third-Party Allotment Ichigo Trust Ichigo 59,087 shares 13,428 shares O Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. 18

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