Hoshino Resorts REIT, Inc. (hereinafter ?HRR?) announced that it resolved, at the Board of Directors' Meeting held on May 24, 2024, to borrow funds (herein after the ?Borrowings?) for the purpose of refinancing existing borrowings (hereinafter the ?Refinancing?), as follows. The Borrowings include a loan (green loan) made in accordance with the Green Finance Framework established by HRR (hereinafter the ?Green Loan?). Of the funds to be procured through the Borrowings, the portion to be financed by Mizuho Bank Ltd. corresponds to funds that the said bank has determined to be eligible for the ?Fund-Supplying Operations to Support Financing for Climate Change Responses (Climate Response Financing Operations),?

conducted by the Bank of Japan for private financial institutions. HRR will continue to further promote sustainability initiatives and aim to strengthen its funding base by expanding the number of investors interested in ESG investment and financing. Details of the Borrowings: Contract No.: 0130-A. Lender: MUFG Bank Ltd. Planned borrowing amount (Millions): JPY 500.

Interest rate: To be determined (Fixed interest rate). Contract date: May 27, 2024. Borrowing date: May 31, 2024.

Final repayment date: October 31, 2031. Repayment method/Collateral: Lump-sum repayment at maturity/Unsecured loan unguaranteed. Contract No.: 0130-B (Green Loan).

Lender: Mizuho Bank Ltd. Planned borrowing amount (Millions): JPY 450. Interest rate: To be determined (Fixed interest rate). Contract date: May 27, 2024.

Borrowing date: May 31, 2024. Final repayment date: October 31, 2031. Repayment method/Collateral: Lump-sum repayment at maturity/Unsecured loan unguaranteed.