Hoshino Resorts REIT Inc. announced that at the Board of Directors Meeting held on May 23, 2023; a resolution was passed to borrow funds (hereinafter "Borrowing") as follows. Lender: MUFG Bank Ltd. Borrowing amount is JPY 1,950,000,000. Interest rate is Base interest rate (Note 1) +0.300% (floating interest rate).

Borrowing date is June 1, 2023. Borrowing method is Conclusion of an individual loan agreement with the above lender on May 29, 2023. Final repayment date is May 31, 2024.

Repayment method is Lump-sum repayment. Interest payment dates are The first payment is due on June 30, 2023, with subsequent payments on the last day of every month thereafter and the final repayment date. Collateral is Unsecured and unguaranteed.