Investor Presentaiton

Hospitality Facilities Owned Investment Target Hospitality Facilities Maximum of 10% Hospitality Facilities Portfolio Share (acquisition price basis) Nippon Accommodations Fund Dormitories, Serviced Apartments Corporate Housing Rental Apartments Over 90% ► Senior Residences Hotels Hospitality Facilities Maximum of 10% Hospitality Facilities Owned (As of the end of the 34th Period) Portfolio share 5.1% Hospitality Facilities with Stable Cash Flow Long-Term Lease Contracts 20 years or more 10-15 years 4.2% Fixed Rents Number of Properties 16 Acquisition price JPY 17.3 billion Highly Competent and Trustworthy Operators Kyoritsu Maintenance 14.9% Average remaining years 7.7 years Less than 5 years 33.1% 5-10 years 47.8% * Calculated based on acquisition price. * Calculated based on years remaining on lease contracts at each property as of February 28, 2023. Dormitories, Corporate Housing Operators J.S.B. Fixed rent ratio: 100% Senior Residence Operator Benesse Style Care Hotel Operator SHR Hotels 32

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