Hoshino Resorts REIT : Notice Concerning Change of Important Employees at Asset Management Company

January 21, 2022

For Immediate Release

REIT Securities Issuer

Hoshino Resorts REIT, Inc.

Representative: Kenji Akimoto, Executive Director

(Code: 3287)

Asset Management Company

Hoshino Resort Asset Management Co., Ltd.

Representative: Kenji Akimoto, President & CEO

Contact: Takahiro Kabuki, Director & CFO

TEL: [phone]

Notice Concerning Change of Important Employees at Asset Management Company

Hoshino Resort Asset Management Co., Ltd., to which Hoshino Resorts REIT, Inc. entrusts asset management, announces that it resolved at its Board of Directors' Meeting held today the following changes of important employees at the asset management company.

Change of Important Employees (as of February 1, 2022)

Name		New Title		Previous Title
		Chief Investment Officer, General		Chief Investment Officer, General
Etsuro Takahashi		Manager of Asset Management		Manager of Acquisition Department,
	Department I, General Manager of		General Manager of Asset
		Asset Management Department II		Management Department II
Takuya Shimomura (Note)		General Manager of Acquisition		-
	Department
Hirofumi Mochida		-		General Manager of Asset
		Management Department I

(Note) Career summary of the newly appointed important employee is as shown in Attachment.

Required procedures such as notification, etc. of the above change will be conducted in accordance with the provisions of the Financial Instruments and Exchange Act, and other applicable laws and regulations.

• Hoshino Resorts REIT, Inc. website address:https://www.hoshinoresorts-reit.com/en/

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Attachment

Career summary of the newly appointed important employee

Title	Name	Career Summary (Company names, etc. at the relevant time)
		April 2014	Resona Bank, Limited
			Sales Department I, Toranomon Branch
		July 2016	Resona Bank, Limited
			Tokyo Real Estate Appraisal Group, Real Estate
			Business Department
		April 2019	Resona Bank, Limited
General			CRE Strategy Office, Real Estate Sales Department
Manager of	Takuya	July 2019	Hoshino Resort Asset Management Co., Ltd.
Acquisition	Shimomura		Asset Management Department I, Investment
Department			Management Division
		November 2020	Hoshino Resort Asset Management Co., Ltd.
			Acquisition Department
		February 2022	Hoshino Resort Asset Management Co., Ltd.
			General Manager of Acquisition Department,
			Investment Management Division (planned to
			assume the position)

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