Investor Presentaiton

Synergies Between Ichigo Hotel and Sponsor - Strengthen acquisitions through leveraging Ichigo's sourcing network - - Increase asset value through Ichigo's real estate value-add capabilities Drive higher returns for Ichigo Hotel shareholders Buy Ichigo Hotel (3463) Buy Sponsor: Ichigo (2337) Buy Hotel 一期一会| Value-Add Make The World Sell ICHIGO More Sustainable |一期一会| ICHIGO Long-Term Asset Management Role (Grow Earnings for Shareholders) Value-add capex On-going renovation and equipment renewal Increase hotel attractiveness & competitiveness Hard Grow earnings via collaboration with hotel operators Sell Grow earnings via rebranding and improving lease terms Grow earnings via smart cost control Soft Value-Add (Increase Asset Value) Rectify building code issues Seismic and safety reinforcement ■Large-scale structural and equipment renewal ■ Change hotel operator/brand Improve lease terms Improve hotel operations Provide operations support (e.g., Hakata Hotels) Third-Party Investors 一期一会| ICHIGO O Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. Sell 57

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