This is a nice twist on the old C rundown to G routine.
I use my R/H thumb for the bass notes and 1st finger to play the arpeggio but you could play the sequence many different ways.
This piece is actually in a mode of F major - notice that the G5 chord allows you to stay in this mode by avoiding the B note in a G major chord (or a weaker sounding G minor).
Angle your 3rd finger to touch and damp off the 5th string when playing the G5.
If you want to play along this is a looped version of the soundfile