Hoshino Resorts REIT, Inc. announced that the terms for interest rate swap agreements (hereinafter referred to as the Interest Rate Swap Agreements) have been decided and that it has concluded the Interest Rate Swap Agreements with regard to the borrowing of funds (Contract No. 0073, 0074, 0075, 0076, 0077, 0078, 0079 and 0080) announced in Notice Concerning the Borrowing of Funds (Refinancing by Green Loans and Others) and Interest Rate Swap Transactions, dated April 21, 2022, as follows. The interest rate for Contract No.

0073 will be substantively fixed at 0.5020% through the Interest Rate Swap Agreements. The interest rate for Contract No. 0074 will be substantively fixed at 0.5060% through the Interest Rate Swap Agreements.

The interest rate for Contract No. 0075 will be substantively fixed at 0.6670% through the Interest Rate Swap Agreements. The interest rate for Contract No.

0076 will be substantively fixed at 0.6680% through the Interest Rate Swap Agreements. The interest rate for Contract No. 0077 will be substantively fixed at 0.9085% through the Interest Rate Swap Agreements.

The interest rate for Contract No. 0078 will be substantively fixed at 0.9115% through the Interest Rate Swap Agreements. The interest rate for Contract No.

0079 will be substantively fixed at 0.9920% through the Interest Rate Swap Agreements. The interest rate for Contract No. 0080 will be substantively fixed at 1.1540% through the Interest Rate Swap Agreements.