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 Access Sapporo 4-minute walk from Odori Station on Sapporo City Metro Namboku Line Operator Nest Hotel Japan Corporation Guest Rooms 121 Acquisition JPY 1.45B Price Operating Results (Aug 2022 - Jul 2023) ADR (right) RevPAR (right) 100% Occupancy (left) (JPY) 20,000 16,000 12,000 8,000 4,000 80% 60% 40% 20% السلام 0% 0 Aug 2022 Nov 2022 Feb 2023 May 2023 Operating Results (Aug 2022 - Jul 2023) ADR (right) RevPAR (right) Occupancy (left) (JPY) 100% 80% 60% 20,000 16,000 12,000 40% 8,000 20% 4,000 0% 0 Aug 2022 Nov 2022 Feb 2023 May 2023 O Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. 45

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