3,700 Units of Japan Hotel REIT Investment Corporation are subject to a Lock-Up Agreement Ending on 20-MAR-2024. These Units will be under lockup for 181 days starting from 21-SEP-2023 to 20-MAR-2024.

Details:
With reference to the public offering, Japan Hotel REIT Advisors Co., Ltd. will agree with the joint lead managers not to sell otherwise dispose of 3,700 units of JHR investment units held before the public offering, for a period of 180 days after the transfer date of the public offering starting from the Pricing Date without written approval of the joint lead managers in advance.


With reference to the public offering, JHR will agree with the joint lead managers not to conduct issuance, etc. of JHR investment units for a period of 90 days after the transfer date of the public offering starting from the Pricing Date without written approval of the joint lead managers in advance (This excludes the public offering above, issuance of JHR investment units pursuant to splits of investment units and other situations.).