Hoshino Resorts REIT : Notice Concerning Acquisition of CASBEE for Real Estate Certification and BELS Rating

May 27, 2021

For Immediate Release

REIT Securities Issuer

Hoshino Resorts REIT, Inc.

Representative: Kenji Akimoto, Executive Director

(Code: 3287)

Asset Management Company

Hoshino Resort Asset Management Co., Ltd.

Representative: Kenji Akimoto, President & CEO

Contact: Takahiro Kabuki, Director & CFO

TEL: [phone]

Notice Concerning Acquisition of CASBEE for Real Estate Certification and BELS Rating

Hoshino Resorts REIT, Inc. (hereinafter "HRR") announces that the property owned by HRR presented below acquired CASBEE for Real Estate Certification (CASBEE: Comprehensive Assessment System for Built Environment Efficiency; hereinafter "CASBEE"), and the 3 properties presented below acquired ratings under BELS (BELS: Building-HousingEnergy-efficiency Labeling System; hereinafter "BELS").

1. Overview of CASBEE for Real Estate Certification and BELS

(1) CASBEE for Real Estate Certification

CASBEE is a system that assesses the comprehensive environmental performance of buildings that have been developed and spread throughout Japan under the leadership of the Ministry of Land, Infrastructure, Transport and Tourism. CASBEE for Real Estate Certification presents assessments using four levels (from S rank: 5 stars to B rank: 2 stars) using a system where third-party institutions certify whether the details of assessments of buildings assessed by CASBEE for Real Estate are accurate through examination of these details. Please refer to the website below for details concerning CASBEE for Real Estate Certification.

CASBEE Certification website: https://ibec.or.jp/CASBEE/english/certificationE.htm

1. BELS
   Under the Act on the Improvement of Energy Consumption Performance of Buildings (Building Energy Efficiency Act), real estate companies and certain other parties must work to present the energy consumption performance of buildings. BELS presents assessments using five levels (from 5 stars to 1 star) using a system where third-party institutions assess the energy consumption performance of buildings in accordance with assessment standards established by the Ministry of Land, Infrastructure, Transport and Tourism. Please refer to the website below for details concerning BELS.
   BELS website (in Japanese only): https://www.hyoukakyoukai.or.jp/bels/bels.html

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2. Properties That Acquired CASBEE for Real Estate Certification and BELS Rating

(1) Property That Acquired CASBEE for Real Estate Certification

Property name		Rating			Points assessed, etc.
				◆Matters assessed particularly high
					Energy/GHG
					Indoor environment
					Biodiversity/sustainable site
				◆Characteristics of environmental
				performance
				When making this beautiful forest,
				where large Japanese elm trees
				formerly lined the Yukawa River,
				into a commercial facility, our
				concept was to enable the trees to
HOSHINOYA Karuizawa				coexist amongst human activity.
(Evaluating subject:				By extensively using wood terracing,
HARUNIRE Terrace)				it was designed to utilize the original
				vegetation in order to maintain the
				softness of the soil without harming
				trees' roots, and so that people will
				draw closer to trees and the river
				while on the promenade. We held
		Evaluating agency:		the design philosophy of purposely
			making as few changes as possible
		Bureau Veritas Japan Co., Ltd.
			in order to protect the natural
				beauty of the Yukawa River, and
				currently, it has become a place for
				shoppers and relaxation.
HOSHINOYA Karuizawa (HARUNIRE Terrace)

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(2) Properties That Acquired BELS Rating

Property name	Rating		Points assessed, etc.
			The primary energy consumption
			volume	of	air	conditioning
			equipment, lighting and hot water
			systems in particular decreased in
			comparison	with	the	standard
			energy consumption volume.
KAI Kaga
(Evaluating subject:
main building)
	34% projected reduction
	in energy consumption
	Evaluating agency:
	The Building Center of Japan
			The primary energy consumption
			volume	of	air	conditioning
			equipment and hot water systems
			in particular	decreased in
			comparison	with	the	standard
			energy consumption volume.
Candeo Hotels Sano
	25% projected reduction
	in energy consumption
	Evaluating agency:
	The Building Center of Japan
			The primary energy consumption
			volume	of	air	conditioning
			equipment in particular decreased
			in comparison with the standard
			energy consumption volume.
Chisun Inn Chiba Hamano R16
	9% projected reduction
	in energy consumption
	Evaluating agency:
	The Building Center of Japan

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KAI Kaga (main building)

Candeo Hotels Sano

Chisun Inn Chiba Hamano R16

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3. HRR's Response Going Forward

HRR intends to continue to contribute to the future through unique investments and asset management while maintaining and improving this certification as well as achieving CSV (Creating Shared Value) to solve social issues in accordance with its sustainability policy going forward.

For details regarding HRR's sustainability policy and initiatives thus far, please refer to the following website (https://www.hoshinoresorts-reit.com/en/sustainability/index.html).

• Hoshino Resorts REIT, Inc. website address:https://www.hoshinoresorts-reit.com/en/

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