On July 9, 2021, Modalis Therapeutics Corporation received from the Tokyo Stock Exchange (hereinafter referred to as "TSE") notice of the initial judgement regarding conformance to listing criteria of the new market segments. It was confirmed that the Company meets the listing criteria for the "Growth Market," which is a new market segment under the market restructuring planned for April 2022. During the Board of Directors meeting that took place, the "Growth Market" was chosen as the market section with which the Company will be affiliated with effective on the date of the new market restructuring. A resolution was made to apply to TSE and the application has been submitted as of the date of this notice.