[For Information Purpose Only.
The Japanese language press release should be referred to as the original.]

March 31, 2023
To All Concerned Parties
Name of REIT Issuer:
Invincible Investment Corporation
Naoki Fukuda, Executive Director(Securities Code: 8963)
Asset Manager:
Consonant Investment Management Co., Ltd.
Naoki Fukuda, President & CEO
Contact: Jun Komo
General Manager of Planning Department(Tel. +81-3-5411-2731)

Notice concerning Acquisition of CASBEE Certification for Buildings,
Certification for CASBEE for Real Estate, and BELS Certification
Invincible Investment Corporation (“INV”) announces that among the properties owned by INV,
INV acquired CASBEE Certification for Buildings for two hotels, Certification for CASBEE forReal Estate for two residential properties, and BELS Certification for seven hotels today asfollows. The acquisition of additional certifications brings the number of properties owned by
INV that have obtained BELS Certification to 15 hotels.
1. Properties Newly Obtained Environmental Certifications and Certification Rank
(1) CASBEE Certification for Buildings
Property Name

Hotel MyStays Premier Akasaka

Hotel MyStays Premier Kanazawa

Rank A

Rank B+Appearance

CertificationRank

This English language notice is a translation of the Japanese-language notice released on March 31, 2023 and was prepared solely for the convenience of, and referenceby, non-Japanese investors. It is not intended as an inducement or solicitation for investment. We caution readers to undertake investment decisions based on their owninvestigation and responsibility. This translation of the original Japanese-language notice is provided for informational purposes only, and no warranties or assurances aregiven regarding the accuracy or completeness of this English translation. Readers are advised to read the original Japanese-language notice. In the event of any
discrepancy between this translation and the Japanese original, the latter shall prevail in all respects.

1(2) Certification for CASBEE for Real Estate
Property NameRoyal Parks Momozaka

Royal Parks Shinden

Rank A

Rank A

Appearance

Certification
Rank(3) BELS Certification
Property
Name

Hotel MyStays Oita

Hotel MyStays
Sapporo Station

MyStays Shin-Urayasu
Conference Center

Hotel MyStays
Kyoto-Shijo

Hotel MyStays
Hakodate-Goryokaku

Hotel MyStays
Hamamatsucho

Hotel Epinard Nasu

Appearance

Certification
Rank

Property
Name

Appearance

Certification
Rank(Note) Evaluation Agent: Center for Better Living

This English language notice is a translation of the Japanese-language notice released on March 31, 2023 and was prepared solely for the convenience of, and referenceby, non-Japanese investors. It is not intended as an inducement or solicitation for investment. We caution readers to undertake investment decisions based on their own
investigation and responsibility. This translation of the original Japanese-language notice is provided for informational purposes only, and no warranties or assurances aregiven regarding the accuracy or completeness of this English translation. Readers are advised to read the original Japanese-language notice. In the event of any
discrepancy between this translation and the Japanese original, the latter shall prevail in all respects.

22. Overview of Environmental Certifications(1) CASBEE Certification for Buildings
CASBEE (Comprehensive Assessment System for Built Environment Efficiency) is a methodthat is a comprehensive assessment of the quality of a building, evaluating features such as
interior comfort and scenic aesthetics, in consideration of environment practices that include
using materials and equipment that save energy or achieve smaller environmental loads.
CASBEE Certification for Buildings (Existing Buildings) that INV’s two hotels acquired scoresbuildings based on the environmental quality and the environmental load reduction of buildingsthat are at least one year old after completion. Assessment results by CASBEE are indicatedon a scale with the following five ranks: Rank S “★★★★★”, Rank A “★★★★”, Rank B+ “★
★★”, Rank B- “★★”, and Rank C “★”.
(2) Certification for CASBEE for Real Estate
Certification for CASBEE for Real Estate was developed with the aim of making use of theresults of the environmental assessment of buildings by CASBEE in real estate evaluation. Itscores buildings under each of the evaluation items in five categories, comprising “1. Energy &Greenhouse Gases”, “2. Water”, “3. Use of Resources & Safety”, “4. Biodiversity & Site”, and “5.
Indoor Environment”. Based on the scores, assessment results are given one of four ranks:
Rank S “★★★★★”, Rank A “★★★★”, Rank B+ “★★★”, and Rank B- “★★”.
(3) BELS Certification
BELS (Building-Housing Energy-efficiency Labeling System) is a third-party certification systemthat evaluates and certifies the energy-saving performance of a building that the operators are
required to make efforts to display under the Act on Improving Energy Consumption
Performance for Architectural Structures. Houses and buildings are evaluated based on thevalue of BEI (Building Energy Index) derived from the primary energy consumption based on
the government-designated energy consumption performance standard of architecturalstructures. The evaluation result is rated on a five-star scale based on energy conservation
performance (from one star “★” to five stars “★★★★★”), with five stars representing thehighest energy conservation performance. Also, two stars or more represent that the building
meets the existing energy conservation standard.
3. Initiatives for Sustainability
INV and Consonant Investment Management Co., Ltd. (“CIM”), the asset manager of INV,
recognize the importance of environmental, social, and governance considerations in real estate
investment management and regard the improvement of sustainability as an importantmanagement issue.
INV and CIM will continue to recognize its social responsibility to the environment and local
communities and will proactively implement ESG-friendly investment management andsustainability initiatives that take advantage of asset characteristics and carry out social
contribution activities.
For the details of INV’s Initiatives for Sustainability, please visit its website:
https://www.invincible-inv.co.jp/en/strategy/sustainability.html
Website of INV: https://www.invincible-inv.co.jp/en/
This English language notice is a translation of the Japanese-language notice released on March 31, 2023 and was prepared solely for the convenience of, and referenceby, non-Japanese investors. It is not intended as an inducement or solicitation for investment. We caution readers to undertake investment decisions based on their own
investigation and responsibility. This translation of the original Japanese-language notice is provided for informational purposes only, and no warranties or assurances aregiven regarding the accuracy or completeness of this English translation. Readers are advised to read the original Japanese-language notice. In the event of any
discrepancy between this translation and the Japanese original, the latter shall prevail in all respects.

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