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 Sapporo Operating Results (Aug 2021 - Jul 2022) ADR (right) RevPAR Occupancy (right) (left) (JPY) 100% 10,000 80% 60% 8,000 6,000 40% 4,000 2,000 20% 0% Aug 2021 0 Nov 2021 Feb 2022 May 2022 Operating Results (Aug 2021 - Jul 2022) ADR (right) RevPAR (right) Occupancy (left) (JPY) 100% 10,000 4-minute walk from Odori Station on Access Sapporo City Metro 80% 8,000 Namboku Line 60% 6,000 Operator Guest Rooms 121 Acquisition JPY 1.45B Price Nest Hotel Japan Corporation 40% 4,000 20% 2,000 0% 0 Aug 2021 Nov 2021 Feb 2022 May 2022 O Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. 40

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