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.
March 24, 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.

1. Summary of the New Loan
JHR plans to refinance the existing loan, which is due on March 31, 2022 (hereinafter called the “Loan Scheduledfor Repayment”).
2. Details of the New Loan
(1) Total Amount of the New Loan
JPY8,300M(2) Details of the New Loan
Name of Loan
LenderAmount of the New Loan
Interest Rate
Date of Borrowing
Method of Borrowing

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

Term Loan 74
Sumitomo Mitsui Banking Corporation, Shinsei Bank, Limited, ResonaBank, Limited, Sumitomo Mitsui Trust Bank, Limited
JPY8,300M
Base interest rate (JBA Japanese Yen TIBOR for 3 months) + 0.50% (*)
March 31, 2022 (plan)
Individual loan contracts to be concluded on March 29, 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 June 2022, the end ofSeptember 2022, the end of December 2022 (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
March 31, 2023 (borrowing term: 1 year)
Unsecured/Unguaranteed

Base interest rate to be applied to the calculation period for the interest to be paid at interest payment dates will be1

JBA Japanese Yen TIBOR for 3 months at 2 business days prior to preceding interest payment date. Please refer tothe 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 Loan.
(2) Total amount of the repayment
JPY8,300M(3) Scheduled date of the repayment
March 31, 2022
(4) Details of the subject individual loan
Loan

Term Loan 12

Lenders

Sumitomo Mitsui Banking Corporation

Date of borrowing

March 31, 2015

Maturity date

March 31, 2022

Borrowing balance

JPY1,500M

Loan

Term Loan 69

Lenders

Sumitomo Mitsui Banking Corporation, Shinsei Bank, Limited,
Sumitomo Mitsui Trust Bank, Limited, Resona Bank, Limited

Date of borrowing

March 31, 2021

Maturity date

March 31, 2022

Borrowing balance

JPY6,800M

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

BeforeAfterVariance

Short-term loans

29,51331,013+1,500Long-term loans (*2)

95,141

93,641(1,500)Total Loans

124,654

124,6540

Total investment corporation bonds

40,10040,1000

164,754

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.

2* The fixed interest rate ratio to the total interest-bearing debt after the New Loan is forecasted to bearound 79%.
5. OtherWith respect to the risks of the New Loan, no important change is required for the “Investment Risks” in theSecurities Report submitted on today.
* Website of Japan Hotel REIT Investment Corporation: https://www.jhrth.co.jp/en3