Supplementary Explanation Materials
on Today’s Press ReleaseAug 28, 2024

Securities Code: 34720Sponsor support provided by the APA Group.
・Since the conclusion of the sponsor support agreement (note), APA Group has provided various
forms of support.
・By acquiring additional investment units, the interests of unitholders and APA Group will be aligned,
which is expected to result in mid- to long-term growth for the Investment Corporation.
(Note) For details, please refer to “Notice Concerning the Conclusion of a Sponsor Support Agreement with the APA Group” announces on December 12, 2023.

＜List of sponsor support from December 2023 onwards＞
TimeFromDecember 2023

Sponsor support
The conclusion of thesponsor support
agreement

Specific details

Aims and Effects

The conclusion of the sponsor support agreement

Support for the Investment Corporation's
activities
Mutual business expansion and development

Acquisition and holding of Acquisition of investment units
investment units（9,246 units 3.9％）

Same boat investment
Reduction of debt costs through credit
enhancement
Unsecured by releasing collateral
New lender invitation (Aozora Bank, ResonaBank)May 2024

Cooperation regarding
fund raising

Guarantee for loans
Expanding the number of financial institutions wedeal withFrom March

Providing warehousing
functions

Bridge function of three accommodation facilities
Granting preferential negotiation rights for bridge
properties (including plans)

Securing acquisition opportunities

July

Granting preferential
negotiation rights forproperties held

Granting preferential negotiation rights for Apa
Hotel〈Asakusabashi Ekimae〉and Apa Hotel〈Nambaminami Daikokucho Ekimae

Securing acquisition opportunities

Acquisition and holdingof investment units

Acquisition of additional investment units (upto 4,000 units)

Same boat investmentAugust（this matter）

1

Disclaimer
The purpose of these materials is to provide information and not to offer, solicit the purchase of or sell certain products. Please contact yoursecurities company to inquire about the purchase of the investment units of Nippon Hotel & Residential Investment Corporation (the"Investment Corporation").
Unless otherwise stated, the information provided in these materials is not required by the Financial Instruments and Exchange Act, the Act on
Investment Trusts and Investment Corporations, related government ordinances, cabinet orders, regulations or the listing rules of the TokyoStock Exchange or other related regulations. In addition, the information in these materials is not identical to the information stated indisclosure documents or asset management reports prepared in accordance with such laws, ordinances, rules, etc.
The information in these materials contains forward-looking statements based on certain conditions and judgments in light of the information
currently available to the Investment Corporation, and includes unknown risks and uncertainties. Therefore, the forward-looking statements do
not guarantee the future performance of the Investment Corporation and actual results may differ materially.
Although the Investment Corporation takes all possible measures to ensure the accuracy of the information provided in these materials, it
makes no guarantee as to the accuracy or completeness of the information. Please note that the content may be subject to revision orcancellation without notice.
The Investment Corporation prohibits duplication, diversion or other unauthorized use of the information provided in these materials without
prior approval.

2