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Investor Presentaiton

Variable Rent Hotel Details F-5 Valie Hotel Hiroshima Location Hiroshima Access 3-minute walk from Jogakuin-mae Station on Hiroden Tram Line Operator The Court Co., Ltd. Guest Rooms 171 Acquisition Price JPY 1.5B С СО ПОГ Operating Results (Feb 2020 - Jan 2021) ADR (right) RevPAR Occupancy (right) (left) (JPY) 100% 80% 60% 40% 20% 0% IN Feb 2020 7,500 6,000 4,500 3,000 1,500 0 May 2020 Aug 2020 Nov 2020 G-1 The OneFive Fukuoka Tenjin Location Fukuoka 6-minute walk from Tenjin Station on Operating Results (Feb 2020 - Jan 2021) ADR (right) RevPAR (right) Occupancy (left) (JPY) Access Fukuoka City Subway Kuko Line Operator The Court Co., Ltd. Guest Rooms 77 100% 80% 60% 40% 20% 10,000 8,000 6,000 4,000 Acquisition JPY 1.38B 0% bath 2,000 0 Price Feb 2020 May 2020 Aug 2020 Nov 2020 * Changed operator and changed hotel name to The OneFive Fukuoka Tenjin. Rebranded and reopened in October 2020. 一期一会| ICHIGO Ichigo Investment Advisors Co., Ltd. Ichigo Hotel REIT Investment Corporation All rights reserved. 46
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