This English translation is provided for information purposes only. If any discrepancy is identified between thistranslation and the Japanese original, the Japanese original shall prevail.
June 23, 2022
REIT Issuer:
Japan Hotel REIT Investment Corporation (TSE code: 8985)
Kaname Masuda, Executive Director
Asset Management Company:
Japan Hotel REIT Advisors Co., Ltd.
Hisashi Furukawa, Representative Director and President
Contact:
Makoto Hanamura
Director of the Board, Managing Director
Head of Finance and Planning Division
TEL: +81-3-6422-0530
Notice Concerning New Loan (Refinancing)
Japan Hotel REIT Investment Corporation (hereinafter called “JHR”) informs you that JHR resolved as below
today on new borrowing (hereinafter called the “New Loan”) for the purpose of refinancing of the existing loan
due on June 23, 2022.

1. Summary of the New Loan
JHR plans to refinance the existing loan, which is due on June 30, 2022 (hereinafter called the “Loans Scheduled forRepayment”).
2. Details of the New Loan
(1) Total Amount of the New Loan
JPY1,423M(2) Details of the New Loan
Name of Loan
LenderAmount of the New Loan
Interest Rate
Date of Borrowing
Method of Borrowing

Interest Payment Date
Method of Principal Repayment
Maturity Date
Collateral

Term Loan 75
Aozora Bank, Ltd.
JPY1,000M
Base interest rate (JBA Japanese Yen TIBOR for 3 months) + 0.50% (*)
June 30, 2022 (plan)
Individual loan contracts to be concluded on June 28, 2022 with the lenders
indicated above based on the Basic Agreement concluded on November 13,
2013 (including subsequent amendments).
The interest payment dates shall be at the end of September 2022, the end ofDecember 2022, the end of March 2023 (if the payment date is not a businessday, it shall be paid on the preceding business day) and on the maturity date.
Lump-sum payment on the maturity dateJune 30, 2023 (borrowing term: 1 year)
Unsecured/Unguaranteed1Name of Loan
LenderAmount of the New Loan
Interest Rate
Date of Borrowing
Method of Borrowing

Interest Payment Date
Method of Principal Repayment
Maturity Date
Collateral(*)

Term Loan 76
Sumitomo Mitsui Banking Corporation, Mizuho Bank, Ltd., Sumitomo
Mitsui Trust Bank, Limited
JPY423M
Base interest rate (JBA Japanese Yen TIBOR for 1 month) + 0.50% (*)
June 30, 2022 (plan)
Individual loan contracts to be concluded on June 28, 2022 with the lenders
indicated above based on the Basic Agreement concluded on November 13,
2013 (including subsequent amendments).
The first interest payment date is the end of July 2022. Subsequent interest
payment dates shall be end of each month (if the payment date is not abusiness day, it shall be paid on the preceding business day) and on thematurity date.
Lump-sum payment on the maturity date
December 30, 2022 (borrowing term: 6 months)
Unsecured/Unguaranteed

For Term Loan 75 and Term Loan 76, base interest rate to be applied to the calculation period for the interest to bepaid at interest payment dates will be JBA Japanese Yen TIBOR for 3 months and Yen TIBOR for 1 month at 2
business days prior to preceding interest payment date respectively. Please refer to the website of JBA TIBOR
Administration for the JBA Japanese Yen TIBOR (http://www.jbatibor.or.jp/english/rate/).

3. Summary of the Loan Scheduled for Repayment(1) Summary of the repayment
JHR plans to repay the loan with using the New Loans.
(2) Total amount of the repayment
JPY1,423M(3) Scheduled date of the repayment
June 30, 2022
(4) Details of the subject individual loan
LoanTerm Loan 14

Lenders

Aozora Bank, Ltd., MUFG Bank, Ltd.

Date of borrowing

July 10, 2015

Maturity dateJune 30, 2022

Borrowing balance

JPY1,423M

4. Status of the Interest-Bearing Debt Before and After the New Loans (scheduled)(Unit: millions of yen)
Category

BeforeShort-term loans

31,0132

After32,436

Variance+1,423

Long-term loans (*2)

93,641

92,218(1,423)

Total Loans

124,654

124,6540

Total investment corporation bonds

40,10040,1000164,754

164,7540

Total interest-bearing debt(*1) Amounts are rounded down to the nearest millions of yen.
(*2) Long-term loans payable within one year are included in the long-term loans.

* The fixed interest rate ratio to the total interest-bearing debt after the New Loan is forecasted to bearound 78%.
5. OtherWith respect to the risks of the New Loans, no important change is required for the “Investment Risks” in theSecurities Report submitted on March 24, 2022.
* Website of Japan Hotel REIT Investment Corporation: https://www.jhrth.co.jp/en3