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

March 25, 2024
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
and Certification for CASBEE for Real Estate
Invincible Investment Corporation (“INV”) announces that among the properties owned by INV,INV acquired CASBEE Certification for Buildings for one hotel and Certification for CASBEE forReal Estate for one residential property today as follows. The acquisition of additional
certifications brings the number of properties owned by INV that have obtained CASBEE
Certification for Buildings and Certification for CASBEE for Real Estate to three hotels and threeresidential properties respectively.
1. Properties Newly Obtained Environmental Certifications and Certification Rank
(1) CASBEE Certification for Buildings
Property Name

Hotel Epinard Nasu

Appearance

CertificationRankRank B+This English language notice is a translation of the Japanese-language notice released on March 25, 2024 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 anydiscrepancy 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 Seasir Minami-Senju

Appearance

Certification
RankRank A(Note) Evaluation Agent: Center for Better Living

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 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. 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 andThis English language notice is a translation of the Japanese-language notice released on March 25, 2024 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sustainability 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/sustainability/index.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 25, 2024 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 are
given 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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