Nippon Accommodations Fund Inc. ("NAF") decided to borrow funds. Lender: Sumitomo Mitsui Trust Bank, Limited. Loan Amount: ¥2.0 billion.

0.11500% Interest Rate. Date of Loan: August 31, 2023. Date of Maturity: November 30, 2023.

Unsecured & unguaranteed, Bullet repayment. Loan Amount: ¥1.5 billion. 0.19045% Interest Rate.

Date of Loan: August 31, 2023. Date of Maturity: August 31, 2028. Unsecured & unguaranteed, Bullet repayment.