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一期一会| ICHIGO Individual Hotel Summary (as of July 31, 2022) Hotel No. Hotel Name Lease Terms Location Leasable Area Acquisition Book Value Jul 2022 Appraisal Unrealized Value (m²) Price (JPY M) (JPY M) Cap Rate Gains (JPY M) (JPY M) (A) (%) (B) - (A) (B) A-1 Nest Hotel Sapporo Ekimae A-2 Nest Hotel Sapporo Odori A-3 Comfort Hotel Kushiro B-1 Capsule Plus Yokohama B-2 Comfort Hotel Nagano C-1 Smile Hotel Tokyo Asagaya Variable Fixed Rent Sapporo 5,734.93 2,160 2,133 2,590 5.1 +456 Variable + Fixed Rent Sapporo 5,638.78 1,450 1,445 1,820 5.0 +374 Fixed Rent Kushiro, Hokkaido 3,180.58 300 284 365 5.5 +80 Variable Rent Yokohama 1,183.26 1,490 1,556 1,270 4.8 -286 Fixed Rent Nagano 1,921.45 670 692 701 4.9 +8 Variable + Fixed Rent Tokyo 2,721.70 3,910 3,870 4,360 4.3 +489 C-3 Hotel Livemax Nihombashi-Hakozaki C-4 HOTEL EMIT SHIBUYA D-1 Comfort Hotel Hamamatsu D-2 Hotel Wing International Nagoya Fixed Rent Variable + Fixed Rent Fixed Rent Tokyo 853.00 1,360 1,269 1,380 4.6 +110 Tokyo 1,470.52 3,700 3,795 3,960 3.6 +164 Hamamatsu, Shizuoka 4,173.92 1,550 1,395 1,750 5.2 +354 Variable + Fixed Rent Nagoya 5,255.66 2,670 2,691 2,150 4.7 -541 D-3 Comfort Hotel Central International Airport Fixed Rent Tokoname, Aichi 11,599.63 5,308 5,204 5,790 4.1 +585 Hotel E-1 D-4 Comfort Hotel Suzuka Smile Hotel Kyoto Shijo Fixed Rent Suzuka, Mie 2,186.65 300 263 359 5.0 +95 Variable Fixed Rent Kyoto 4,891.84 4,480 4,502 3,570 4.5 -932 E-3 The OneFive Osaka Sakaisuji Variable Fixed Rent Osaka 3,568.32 1,630 1,754 1,220 4.8 -534 E-4 Hotel Wing International Kobe Shin Nagata Ekimae Variable Fixed Rent Kobe 4,540.90 1,490 1,375 1,810 4.7 +434 E-5 Nest Hotel Osaka Shinsaibashi F-1 The OneFive Okayama F-2 Nest Hotel Matsuyama F-3 Urbain Hiroshima Executive F-4 The OneFive Garden Kurashiki F-5 Valie Hotel Hiroshima Variable + Fixed Rent Variable + Fixed Rent Variable Fixed Rent Fixed Rent Variable Fixed Rent Variable + Fixed Rent Osaka 8,057.26 7,600 7,539 5,480 4.4 -2,059 Okayama 5,543.70 1,200 1,195 1,760 5.7 +564 Matsuyama, Ehime 6,671.94 1,610 1,624 1,970 5.6 +345 Hiroshima 2,756.20 1,800 1,780 2,030 5.3 +249 Kurashiki, Okayama 3,964.19 1,725 1,811 2,240 5.2 +428 Hiroshima 4,332.50 1,500 1,538 1,670 5.0 +131 F-6 Washington Hotel Plaza Shimonoseki Eki Nishi G-1 The OneFive Fukuoka Tenjin G-3 Nest Hotel Kumamoto Fixed Rent Variable + Fixed Rent Variable Fixed Rent Shimonoseki, Yamaguchi 5,709.35 1,080 1,066 1,180 4.9 +113 Fukuoka Kumamoto 1,910.94 1,380 1,446 2,230 4.3 +783 6,404.36 2,220 2,207 2,330 5.4 +122 Total (24 Hotels) 104,271.58 52,583 52,445 53,985 4.7 +1,539 Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. 36

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