Leopalace 21 Corporation announced that, at its Board of Directors' Meeting held on December 22, 2023, the Company resolved to enter into a loan agreement with Biwa Godo Kaisha for the purpose of refinancing the loan obtained as of November 2, 2020 from Kaede Godo Kaisha, an affiliated entity of Fortress Investment Group LLC ("FIG"), as described below. Outline of the Loan Agreement: Lender: Biwa Godo Kaisha; Principal of loan: JPY 30 billion (30,000,000,000); Loan drawdown date: December 25, 2023; Maturity date: November 4, 2025; Repayment method: Lump-sum repayment after partial repayment of principal in equal installments; Voluntary prepayment: Prepayment may be made if the Company satisfies certain conditions. Applicable interest rate: 5% per annum during the period from the loan drawdown date to the date on which half of the number of days from the loan drawdown date to the maturity date have elapsed, and 5.5% per annum thereafter.

Security interests/Guaranty: Real estate, loan receivables held against the Company's subsidiaries, stock of subsidiaries, etc., joint and several guarantees by the Company's subsidiaries.