Investor Presentaiton

Variable Rent Hotel Details B-1 Capsule Plus Yokohama Location Yokohama, Kanagawa Access 6-minute walk from Yokohama Station on JR/ Subway Line Operator nine hours Inc. Guest Rooms 169 Acquisition JPY 1.49B Price capsule+ The hotel operator did not give consent to disclose data. Operator B-2 Smile Hotel Nagano Location Access Nagano 3-minute walk from Nagano Station on JR Hokuriku Shinkansen Line K.K. Hospitality Operations Operating Results (Aug 2022 - Jul 2023) ADR (right) RevPAR (right) Occupancy (left) Smile Hotel (JPY) 10,000 100% оооов DODO 8,000 80% 6,000 ㅁㅁ 60% 4,000 40% 2,000 Guest Rooms 76 20% Acquisition 0 0% JPY 670M Price Aug 2022 Nov 2022 Feb 2023 May 2023 * Closed for rebranding from December 12, 2022 to February 28, 2023. Reopened in March 2023. 一期一会| ICHIGO O Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. 46

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