Yasunaga : Notice of the 77th Annual General Meeting of Shareholders

Note: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

Securities Code: 7271 June 6, 2023 Start date of measures for electronic provision: June 5, 2023

To our shareholders:

President & CEO Akitoshi Yasunaga

YASUNAGA CORPORATION

3860 Midorigaoka Naka-machi,Iga-shi, Mie

Notice of the 77th Annual General Meeting of Shareholders

The Company's 77th Annual General Meeting of Shareholders will be convened according to the following.

In convening this General Meeting of Shareholders, the Company has taken the system for providing informational materials for the general meeting of shareholders in electronic format, and has posted the information on the following websites. Please access either of the websites to view the information.

The Company's website: https://www.fine-yasunaga.co.jp/ir/library.html (in Japanese)

TSE Listed Company Search (jpx.co.jp): https://www2.jpx.co.jp/tseHpFront/JJK010010Action.do?Show=Show (in Japanese)

On the TSE website, enter the Company name "YASUNAGA" or securities code "7271," and click "Search," and then click "Basic Information" and select "Documents for public inspection/PR information" to view the information.

Website for posted informational materials for the general meeting of shareholders: https://d.sokai.jp/7271/teiji/ (in Japanese)

If you are unable to attend the meeting in person, you may exercise your voting rights via the Internet or in writing (by postal mail). Please consider the Reference Documents for the General Meeting of Shareholders and exercise your voting rights by 5:00 pm on Monday, June 26, 2023.

1. Date and Time: Tuesday, June 27, 2023 10:00 am (Reception to begin at 9:00 am) (JST)
2. Venue: Yasunaga Corporation Headquarters, Koseikan Building, 2nd Floor Meeting Room 3860 Midorigaoka Naka-machi,Iga-shi, Mie
3. Purpose of the Meeting Matters to be reported:
4. 1. The 77th term (April 1, 2022 to March 31, 2023) business report, contents of Consolidated Financial Statements together with audit results of Consolidated Financial Statements by the financial auditor and Audit & Supervisory Committee
   2. Contents of the Non-consolidated Financial Statements for the 77th term (April 1, 2022 to March 31, 2023)

   Matters to be resolved:

   Proposal No. 1 Appropriation of Surplus

   Proposal No. 2 Partial Amendments to the Articles of Incorporation

   Proposal No. 3 Election of Three Directors (Excluding Audit & Supervisory Committee Members)

   Proposal No. 4 Election of Three Directors Who Are Audit & Supervisory Committee Members

5. Matters Determined Concerning the Convocation (Information on Exercise of Voting Rights)
6. 1. If you do not indicate your approval or disapproval for each proposal on the Voting Form when exercising your voting rights in writing (by postal mail), it shall be deemed that you indicated your approval.
   2. If you exercise your voting rights more than once via the Internet, only the last vote shall be deemed effective.
   3. If you exercise your voting rights in duplicate both via the Internet and in writing (by postal mail), the vote via the Internet shall be deemed effective, regardless of the date and time that the votes are received.
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Shareholders attending the meeting

• When attending on the day of the event, submit the Voting Form at the reception desk of the venue. In addition, please bring this "Notice" to save resources.
• We will not distribute souvenirs or hold plant tours at this Annual General Meeting of Shareholders. Your understanding would be highly appreciated.

Items related to the General Meeting of Shareholders

• If revisions to the items subject to measures for electronic provision arise, a notice of the revisions and the details of the items before and after the revisions will be posted on the Company's website, the TSE website, and the website for posted informational materials for the general meeting of shareholders.
• For this General Meeting of Shareholders, we have sent paper-based documents stating the items subject to measures for electronic provision to all shareholders, regardless of whether or not they have made a request for delivery of such documents.
  Among the items subject to measures for electronic provision, the "notes to consolidated financial statements" and "notes to non-consolidated financial statements" are not included in the provided paper-based documents in accordance with the provisions of laws and regulations and the Company's Articles of Incorporation.
  Therefore, the consolidated financial statements and non-consolidated financial statements stated in those documents are part of the documents included in the scope of audits by the financial auditor when preparing the accounting audit report.

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Reference Documents for the General Meeting of Shareholders

Proposals and Reference Information

Proposal No. 1 Appropriation of Surplus

The Company proposes that the appropriation of surplus for the current fiscal year be handled according to the following:

Items related to year-end dividends

Our basic policy is to continue providing stable dividends while endeavoring to strengthen our long-term management base. Therefore, regarding the appropriation of surplus, we will consider internal reserves for capital investment necessary for growth, and return of profits based on comprehensive decisions.

Based on the above policy, the Company proposes that year-end dividends be paid for the current fiscal year according to the following:

1. Type of dividend property Cash
2. Allotment of dividend property to shareholders and its aggregate amount ¥9 per common share of the Company
   Total payment: ¥107,669,970
   Note: Including the interim dividend, the annual dividend will be ¥14 per share.
3. Effective date of dividends of surplus

June 28, 2023

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Proposal No. 2 Partial Amendments to the Articles of Incorporation

1. Reasons for the proposal
   Based on the current state of the Company's business, the Company proposes to make the following changes to Article 2 (Purposes) of the current Articles of Incorporation in order to clarify our business content, and to support future business development and diversification of its business content.
2. Details of the amendments
   The details of the amendments are as follows:

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Proposal No. 3 Election of Three Directors (Excluding Audit & Supervisory Committee Members)

The terms of office for all three Directors (excluding Audit & Supervisory Committee Members) will expire at the end of this general meeting. Therefore, the Company proposes the election of three Directors (excluding Audit & Supervisory Committee Members).

Regarding this proposal, the Audit & Supervisory Committee has determined that all candidates for Director are suitable.

Candidates for Director (excluding Audit & Supervisory Committee Members) are as follows:

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