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Investor Presentaiton

一期一会| ICHIGO July 2022 Fiscal Period Individual Hotel Operating Results (year-on-year) Hotel No. Hotel Name Lease Terms Location No. of Guest Rooms RevPAR (JPY) A-1 Nest Hotel Sapporo Ekimae A-2 Nest Hotel Sapporo Odori A-3 Comfort Hotel Kushiro Variable + Fixed Rent Variable + Fixed Rent Fixed Rent Sapporo 162 5,156 (+55.3%) Sapporo 121 Kushiro, Hokkaido (+41.5%) 76.8% (+22.8%) B-2 Comfort Hotel Nagano Fixed Rent C-1 Smile Hotel Tokyo Asagaya C-4 HOTEL EMIT SHIBUYA Variable + Fixed Rent Variable + Fixed Rent Nagano Tokyo Tokyo D-1 Comfort Hotel Hamamatsu Fixed Rent Hamamatsu, Shizuoka 196 D-2 Hotel Wing International Nagoya Variable + Fixed Rent D-3 Comfort Hotel Central International Airport Fixed Rent D-4 Comfort Hotel Suzuka Fixed Rent Nagoya Tokoname, Aichi Suzuka, Mie 224 E-1 Smile Hotel Kyoto Shijo Variable + Fixed Rent Kyoto E-3 The OneFive Osaka Sakaisuji Variable + Fixed Rent Osaka E-4 Hotel Wing International Kobe Shin Nagata Ekimae Variable + Fixed Rent Kobe 133 E-5 Nest Hotel Osaka Shinsaibashi Variable + Fixed Rent Osaka 302 F-1 The OneFive Okayama F-2 Nest Hotel Matsuyama Variable + Fixed Rent Variable + Fixed Rent Okayama 208 Matsuyama, Ehime F-3 Urbain Hiroshima Executive Fixed Rent Hiroshima F-4 The OneFive Garden Kurashiki F-5 Valie Hotel Hiroshima G-1 The OneFive Fukuoka Tenjin G-3 Nest Hotel Kumamoto Variable + Fixed Rent Variable + Fixed Rent Variable + Fixed Rent Variable + Fixed Rent Kurashiki, Okayama 107 Hiroshima Fukuoka Kumamoto 201 July 2022 (February 2022 - July 2022) Occupancy (%) ADR (JPY) 94.2% (+7.7%) 5,473 (+44.2%) 183.3 (+46.9%) 5,355 (+114.6%) 95.2% (+45.7%) 5,625 (+47.3%) 139.3 (+108.5%) 126 4,536 5,909 (+15.2%) 109.8 (+42.1%) 76 6,467 94.3% 6,860 30.2 112 6,496 (+36.4%) 96.9% (+0.5%) 6,703 (+35.7%) 133.5 (+34.5%) 72 6,289 (+51.3%) 99.0% (+4.9%) 6,353 (+44.2%) 82.0 (+51.0%) 3,675 (+48.6%) 68.3% (+34.8%) 5,379 (+10.3%) 130.4 (+48.6%) 5,455 (+255.4%) 100% (+149.9%) 5,455 (+42.2%) 221.2 (+217.0%) 346 4,190 (+55.3%) 56.1% (+45.1%) 7,465 (+7.0%) 270.3 (+55.9%) 105 4,174 (+61.8%) 73.8% (+42.6%) 5,655 (+13.5%) (+61.0%) 144 2,262 (+161.0%) 60.0% (+113.3%) 3,769 (+22.4%) 64.5 (+168.3%) 130 2,651 96.2% 2,755 4,696 (+64.2%) 63.4% (+53.1%) 7,413 2,235 (+575.7%) 61.6% (+526.3%) 3,627 3,536 (+49.6%) 97.8% (+9.1%) 3,618 190 3,747 (+62.3%) 76.8% (+41.4%) 4,881 171 2,144 (+32.7%) 39.7% (+71.4%) 5,400 3,192 (+61.8%) 44.3% (+29.5%) 7,209 171 7,500 (+3.3%) 100% (+3.6%) 7,500 77 3,932 (+61.4%) 93.6% (+3.5%) 4,200 5,000 (+107.5%) 100% (+55.0%) 5,000 Revenue (JPY M) 80.0 62.9 (+7.2%) 121.4 (+56.7%) (+7.9%) 134.4 (+960.0%) (+37.1%) 138.7 (+50.0%) (+14.8%) 162.3 (+64.6%) (-22.6%) 66.4 (+24.9%) 68.4 (-0.2%) 233.5 (+55.9%) 60.6 (+33.9%) 182.6 (+32.7%) (+43.4%) (-0.3%) (+52.6%) (+85.1%) Other 455 Variable Rent Hotels Fixed Rent Hotels Total 2,523 4,348 (+51.8%) 84.7% (+29.6%) 1,306 3,721 (+49.1%) 61.3% (+37.7%) 3,829 4,162 (+51.9%) 77.8% (+33.3%) 5,351 5,132 6,066 (+17.1%) 1,988.8 (+8.3%) 683.4 (+49.3%) (+13.9%) 2,672.1 (+67.2%) (+74.4%) * * Year-on-year comparisons for Comfort Hotel Nagano are excluded because the hotel was acquired during July 2022 Fiscal Period on May 31, 2022. Operating Results data for Hotel Livemax Nihombashi-Hakozaki, Capsule Plus Yokohama, and Washington Hotel Plaza Shimonoseki Eki Nishi are consolidated under Other, because the hotel operators did not provide consent to disclose hotel-specific data. Fixed Rent Hotels and Total include Hotel Livemax Nihombashi-Hakozaki's operating results. Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. 37
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