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.
July 29, 2024
REIT Issuer:
Japan Hotel REIT Investment Corporation (TSE code: 8985)
Kaname Masuda, Executive Director
Asset Management Company:
Japan Hotel REIT Advisors Co., Ltd.
Hiroyuki Aoki, President and CEO
Contact:
Makoto Hanamura
Director of the Board, Managing Director
Head of Finance and Planning Division
TEL: +81-3-6422-0530

Notice Concerning New Loans (Determination of Interest Rate)
and Conclusion of Interest Rate Swap Contracts
Japan Hotel REIT Investment Corporation (hereinafter called “JHR”) announces that the interest rates for part ofthe borrowings disclosed in the press release “Notice Concerning New Loans” dated June 24, 2024 (hereinaftercalled the “New Loans”) have been determined. Additionally, JHR informs you that interest rate swap contracts(hereinafter called the “Swap Contracts”) for part of the New Loans have been concluded as follows.
1.

Details of Interest Rates Determined
Name of Loan

LenderAmount(JPY MM)

Interest Rate

Term Loan 105

MUFG Bank, Ltd.

500

1.40380% (fixed interest rate)

Term Loan 107

MUFG Bank, Ltd.

1,0001.51536% (fixed interest rate)(*) The interest rates determined are underlined.

2.

Details of Interest Rate Swap Contracts
Interest Rate Swap Contract for Term Loan 103
Counterparty
Sumitomo Mitsui Trust Bank, Limited
Notional Principal
Interest Rate

JPY1,950MM

Fixed interest rate to pay: 0.76760%

Variable interest rate to receive: JBA 1-month Japanese Yen TIBOR

Contract Term

July 31, 2024 through March 30, 2029

Interest Rate Swap Date

The first interest rate swap date shall be August 30, 2024, with subsequentexchanges on the last day of each month (or the immediately preceding business
day if that day is not a business day) and the contract expiration date.

* The interest rate for Term Loan 103 will be effectively fixed at 1.26760%.

1Interest Rate Swap Contract for Term Loan 104
Counterparty
Sumitomo Mitsui Trust Bank, Limited
Notional Principal

JPY5,850MM

Interest Rate

Fixed interest rate to pay: 0.82145%
Variable interest rate to receive: JBA 1-month Japanese Yen TIBOR

Contract Term

July 31, 2024 through March 29, 2030

Interest Rate Swap Date

The first interest rate swap date shall be August 30, 2024 with subsequentexchanges on the last day of each month (or the immediately preceding business
day if that day is not a business day) and the contract expiration date.

* The interest rate for Term Loan 104 will be effectively fixed at 1.37145%.
Interest Rate Swap Contract for Term Loan 106
Counterparty
Sumitomo Mitsui Trust Bank, Limited
Notional Principal

JPY12,700MM

Interest Rate

Fixed interest rate to pay: 0.88300%
Variable interest rate to receive: JBA 1-month Japanese Yen TIBOR

Contract Term

July 31, 2024 through March 31, 2031

Interest Rate Swap Date

The first interest rate swap date shall be August 30, 2024, with subsequentexchanges on the last day of each month (or the immediately preceding business
day if that day is not a business day) and the contract expiration date.

* The interest rate for Term Loans 106 will be effectively fixed at 1.48300%.
The fixed interest rate ratio to the total interest-bearing debt is expected to be around 74% after the conclusion ofthe Swap Contracts.
3.

OthersThere are no material changes to the risks associated with the New Loans from those described under the“Investment Risks” in the Securities Registration Statement (Japanese only) submitted on June 24, 2024.
* Website of Japan Hotel REIT Investment Corporation: https://www.jhrth.co.jp/en/2