Certain Common Stock of Nalnet Communications Inc. are subject to a Lock-Up Agreement Ending on 23-MAR-2024. These Common Stock will be under lockup for 94 days starting from 20-DEC-2023 to 23-MAR-2024.

Details:
In connection with this offering and the secondary offering through purchase and underwriting by the underwriters, JAFCO SV6 Investment Limited Partnership and JAFCO SV6-S Investment Limited Partnership, which are the sellers and stock lenders, have requested that the lead manager company accept the principal underwriting. During the period from the date of conclusion of the contract until March 23, 2024, which is the 90th day after the listing (trading start) date (including the day), the Company's common stock may not be sold without the prior written consent of the lead manager. (However, there are cases where the underwriter sells the company's common stock for sale through purchase and underwriting, lends the company's common stock for sale through over-allotment, the lead manager acquires the company's common stock that is subject to the green shoe option, and the sale price is We have agreed that we will not sell the shares for more than 1.5 times the issue price in ``Part 1 Offering Guidelines'' (excluding sales on the Tokyo Stock Exchange through the lead manager).

In addition, the Company's shareholders, JIA No. 1 Investment Business Limited Partnership and Aigin Venture Fund No. 2 Investment Business Limited Partnership, will notify the lead manager from the date of the principal underwriting agreement to the day of listing (commencement of trading) (including the day of trading). ) during the period until March 23, 2024, 90 days after the sale of the Company's common stock without the prior written consent of the lead manager (provided that the sales price is not the We have agreed not to sell the shares at a price that is 1.5 times or more than the stock price (excluding sales on the Tokyo Stock Exchange through the lead manager after the initial price on the Tokyo Stock Exchange has been established).

In addition, Mobility & Maintenance Japan Co., Ltd., a shareholder of the Company, has notified the lead manager that June 21, 2024, which is the 180th day after the date of the original underwriting agreement and the date of listing (commencement of trading) (including the day of trading). During this period, we have agreed that we will not sell our common stock without the prior written consent of the lead manager.

In addition, the Company will notify the lead manager of the lead manager's advance notice during the period from the date of conclusion of the principal underwriting agreement until June 21, 2024, which is the 180th day after the listing (trading start) date (including the day). Without our written consent, we may issue any shares of our common stock, issue any securities convertible into or exchanged for shares of our common stock, or issue any securities entitled to acquire or receive shares of our common stock (with the exception of this offering, It has been agreed that no stock split or issue of stock acquisition rights as stock options, etc.) will be carried out.