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

November 15, 2022
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 BELS Certification
Invincible Investment Corporation (“INV”) announces that eight hotels owned by INV acquired
the certification of Building-Housing Energy-efficiency Labeling System (“BELS”) today asfollows.
1. Overview of BELS
BELS is the third-party certification system that evaluates and certifies the energy-saving
performance of a building that the operators are required to make efforts to display under theAct on Improving Energy Consumption Performance for Architectural Structures. Houses andbuildings are evaluated based on the value of BEI (Building Energy Index) derived from theprimary energy consumption based on the government-designated energy consumption
performance standard of architectural structures. The evaluation result is rated on a five-starscale based on energy conservation performance (from one star “★” to five stars “★★★★★”),
with five stars meaning the highest energy conservation performance. Also, two stars or more
represent that the building meets the existing energy conservation standard.
2. Evaluation Result
Eight hotels owned by INV acquired BELS certification as described in the Appendix. In
particular, Hotel MyStays Premier Akasaka, Hotel MyStays Yokohama Kannai, and Hotel
MyStays Fukuoka Tenjin have been rated five stars “★★★★★”, and Hotel MyStays PremierKanazawa and Hotel MyStays Fuji Onsen Resort have been rated four stars “★★★★” due tohigh energy conservation performance.
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 improvement of sustainability as an important management
This English language notice is a translation of the Japanese-language notice released on November 15, 2022 and was prepared solely for the convenience of, andreference by, non-Japanese investors. It is not intended as an inducement or solicitation for investment. We caution readers to undertake investment decisions basedon their own investigation and responsibility. This translation of the original Japanese-language notice is provided for informational purposes only, and no warranties orassurances are given regarding the accuracy or completeness of this English translation. Readers are advised to read the original Japanese-language notice. In theevent of any discrepancy between this translation and the Japanese original, the latter shall prevail in all respects.

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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 November 15, 2022 and was prepared solely for the convenience of, andreference by, non-Japanese investors. It is not intended as an inducement or solicitation for investment. We caution readers to undertake investment decisions basedon their own investigation and responsibility. This translation of the original Japanese-language notice is provided for informational purposes only, and no warranties orassurances are given regarding the accuracy or completeness of this English translation. Readers are advised to read the original Japanese-language notice. In theevent of any discrepancy between this translation and the Japanese original, the latter shall prevail in all respects.

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【Appendix】Properties That Acquired BELS Certification
Property Name and Appearance

Evaluation Result

Hotel MyStays Premier Akasaka

Hotel MyStays Yokohama Kannai

Hotel MyStays Fukuoka Tenjin

Hotel MyStays Premier Kanazawa

Hotel MyStays Fuji Onsen Resort

Hotel MyStays Sakaisuji-Honmachi

This English language notice is a translation of the Japanese-language notice released on November 15, 2022 and was prepared solely for the convenience of, andreference by, non-Japanese investors. It is not intended as an inducement or solicitation for investment. We caution readers to undertake investment decisions basedon their own investigation and responsibility. This translation of the original Japanese-language notice is provided for informational purposes only, and no warranties orassurances are given regarding the accuracy or completeness of this English translation. Readers are advised to read the original Japanese-language notice. In theevent of any discrepancy between this translation and the Japanese original, the latter shall prevail in all respects.

3Hotel MyStays Fukuoka-Tenjin-Minami

Hotel MyStays Midosuji Honmachi(Note) Evaluation Agent: Center for Better Living

This English language notice is a translation of the Japanese-language notice released on November 15, 2022 and was prepared solely for the convenience of, andreference by, non-Japanese investors. It is not intended as an inducement or solicitation for investment. We caution readers to undertake investment decisions basedon their own investigation and responsibility. This translation of the original Japanese-language notice is provided for informational purposes only, and no warranties orassurances are given regarding the accuracy or completeness of this English translation. Readers are advised to read the original Japanese-language notice. In theevent of any discrepancy between this translation and the Japanese original, the latter shall prevail in all respects.

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