As of May 31, 2026

The total number of investment units authorized for issue by Nippon Hotel & Residential Investment Corporation (“the Investment Corporation”) and the total number of investment units issued are as indicated below.

Total unitholders' capital	34,223 million yen
Total number of investment units authorized	10,000,000 units
Number of investment units issued	432,307 units

Changes in total unitholders' capital and in the total number of investment units issued since the incorporation of the Investment Corporation are as indicated below.

Date	Description	Total equity (mn yen)		Total number of investment units issued
		Amount of increase	Balance	Amount of increase	Balance
March 29, 2016	Incorporation by private placement	200	200	2,000	2,000
August 30, 2016	Capital increase by public offering	15,552	15,752	174,200	176,200
December 1, 2017	Capital increase by public offering	4,667	20,419	56,330	232,530
December 26, 2017	Capital increase by third-party allotment	233	20,653	2,817	235,347
December 2, 2024	Capital increase by public offering	4,491	25,144	72,152	307,499
December 30, 2024	Capital increase by third-party allotment	219	25,363	3,524	311,023
December 1, 2025	Capital increase by public offering	8,437	33,801	115,509	426,532
December 23, 2025	Capital increase by third-party allotment	421	34,223	5,775	432,307

20th Fiscal Period
Rank	Name	Number of units held (units)	Holding Ratio (%)
1	The Master Trust Bank of Japan, Ltd. (Trust Account)	41,742	9.7
2	Custody Bank of Japan, Ltd. (Trust Account)	35,354	8.2
3	APA Holdings Co.,Ltd.	21,746	5.0
4	The Nomura Trust and Banking Co., Ltd. (Trust Account)	15,242	3.5
5	Mitsubishi UFJ Morgan Stanley Securities Co., Ltd	2,678	0.6
6	Fuji-Izu Japan Agricultural Cooperatives	2,400	0.6
7	Individual	2,350	0.5
8	Rakuten Securities, Inc. (Joint Account)	2,102	0.5
9	SMBC Nikko Securities Inc.	2,062	0.5
10	Individual	2,050	0.5
Total		127,726	29.5