Sumitomo Densetsu : Convocation Notice of the 98th Ordinary 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. The Company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation.

(Stock Exchange Code 1949)

June 5, 2023

To Shareholders with Voting Rights:

Makoto Tani

President

Sumitomo Densetsu Co., Ltd.

2-1-4 Awaza, Nishi-ku, Osaka

NOTICE OF THE 98TH ANNUAL GENERAL MEETING OF SHAREHOLDERS

The 98th Annual General Meeting of Shareholders of Sumitomo Densetsu Co., Ltd. (the "Company") will be held for the purposes as described below.

The Company shall, when convening this General Meeting of Shareholders, provide information contained in the Reference Documents for the General Meeting of Shareholders, etc. electronically ("Items to Be Provided Electronically"), and the Items to Be Provided Electronically are posted on the Company website. Please access to the Company website below to review the information.

Company website: https://www.sem.co.jp/english/ir/holder/

Also, the Items to Be Provided Electronically are posted on the Tokyo Stock Exchange (TSE) website in addition to the Company website. If you are unable to view the Items to Be Provided Electronically on the Company website, you are requested to access to the TSE website (Listed Company Search) below, enter the Issue name (the Company's name) or Stock Exchange Code and click "Search", then select "Basic information" and "Documents for public inspection/PR information" and review the information.

TSE website (Listed Company Search service): https://www2.jpx.co.jp/tseHpFront/JJK020010Action.do?Show=Show

You can exercise your voting rights either via the Internet or in writing as alternative methods to attending the meeting in person. Please review the Reference Documents for the General Meeting of Shareholders, and exercise your voting rights no later than 5:30 p.m. Japan time on Monday, June 26, 2023, in accordance with "Information for Exercising Your Voting Rights" contained herein.

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1. Date and Time: Tuesday, June 27, 2023 at 10:00 a.m. Japan time

(Reception starts at 9:00 a.m.)

2. Place:	Meeting Room on the 10th floor, Osaka Head Office of the Company,
	2-1-4 Awaza, Nishi-ku, Osaka
	(Please refer to "Map to the Venue of General Meeting of Shareholders" on the
	last page of the Japanese original being sent to each of you by postal mail.)

3. Meeting Agenda:

Matters to be reported: 1. The Business Report and Consolidated Financial Statements, and the results

of the audits of Consolidated Financial Statements by the Accounting Auditor and the Audit & Supervisory Board for the 98th fiscal year (from April 1, 2022 to March 31, 2023)

2. The Non-consolidated Financial Statements for the 98th fiscal year (from April 1, 2022 to March 31, 2023)

Proposals to be resolved:

Proposal 1: Appropriation of Surplus

Proposal 2: Election of nine (9) Directors

Proposal 3: Election of one (1) Audit & Supervisory Board Member

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• Among the Items to Be Provided Electronically, the Company does not include the following matters in the paper copy to be sent to shareholders since the Company discloses such information on the Company website and the TSE website in accordance with laws and regulations as well as Article 15 of the Articles of Incorporation of the Company.
• 1. "Notes to the Consolidated Financial Statements" in the Consolidated Financial Statements
  2. "Notes to the Non-consolidated Financial Statements" in the Non-consolidated Financial Statements Please note that "Notes to the Consolidated Financial Statements" and "Notes to the Non-consolidated Financial Statements" were audited as part of the Consolidated Financial Statements and Non-consolidated Financial Statements when the Audit & Supervisory Board Members and the Accounting Auditor prepared the audit reports.
• Should any revision be made to the Items to Be Provided Electronically, the matters before and after such revision will be posted on the Company website and the TSE website.

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▌Information for Exercising Your Voting Rights

1. For shareholders who are able to attend the meeting

When attending the meeting, please submit the Voting Rights Exercise Form (which is enclosed in the Japanese original) at reception.

If a proxy attends the meeting on behalf of a shareholder, the proxy is requested to submit the shareholder's Voting Rights Exercise Form together with a document proving the proxy's authority (the proxy authorization form and the proxy's Voting Rights Exercise Form) to act on behalf of the shareholder. Furthermore, the Company only authorizes one shareholder who possesses voting rights as proxy.

Please note that we will be in light clothing (Cool Biz) at the meeting. We encourage everyone attending the meeting to wear light clothing as well.

2. For shareholders who do not attend the meeting

Exercising your voting rights via the Internet, etc.

If exercising your voting rights via the Internet, etc., please review "Information for Exercising Your Voting Rights over the Internet, etc." as shown below and indicate your vote for or against the proposals by 5:30 p.m. on Monday, June 26, 2023, Japan time.

Exercising your voting rights in writing

If exercising your voting rights in writing, please indicate your vote for or against the proposals on the Voting Rights Exercise Form (which is enclosed in the Japanese original) and return it so that it is received by 5:30 p.m. on Monday June 26, 2023, Japan time. In the event that you exercise your voting rights using the Voting Rights Exercise Form and do not indicate your approval or disapproval of each proposal, the absence of such indication shall be treated as a vote for approval.

Information for Exercising Your Voting Rights over the Internet, etc.

If you wish to exercise your voting rights via the Internet, etc., please confirm the following items:

1. Website for exercising voting rights
   Voting rights via the Internet may only be exercised by accessing the following website designated by the Company:
   URL of the website for exercising voting rights: https://www.web54.net
2. How to exercise voting rights
3. 1. Shareholders using computers
      Please access to the address above, use the "Voting Rights Exercise Code" and "Password" as indicated in the Voting Rights Exercise Form (which is enclosed in the Japanese original), and indicate your vote for or against the proposals following the instructions on the screen.
   2. Shareholders using smartphones
      By scanning "Login QR code for voting rights exercise website for smartphone" as indicated in said Voting Rights Exercise Form, you can exercise the voting rights from voting rights exercise website for smartphone that does not require to enter "Voting Rights Exercise Code" and "Password".
      If you are to change the exercised content after the exercise of the voting right, please scan the QR code again. You will be required to enter "Voting Rights Exercise Code" and "Password" as indicated in the Voting Rights Exercise Form.
      (QR Code is the registered trademark of DENSO WAVE INCORPORATED.)
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1. Handling of the exercise of voting rights
2. 1. If you exercised your voting rights both via the Internet and in writing, etc., the voting rights exercised via the Internet, etc. shall be treated as the valid vote. Furthermore, if you exercised your voting rights multiple times via the Internet, etc., the voting rights exercised last shall be treated as the valid vote.
   2. Communication charges to Internet service providers and telecommunication carriers (Internet connection charges, etc.) incurred for accessing the voting rights exercise website shall be borne by the shareholder.
3. Handling of the password and Voting Rights Exercise Code
4. 1. The password is a means to verify the identity of the person exercising voting rights as a shareholder. Please keep the password in a safe place in the same manner as seals and personal identification numbers.
   2. If you enter an incorrect password more than a certain number of times, the password will be rendered unusable. If you would like a new password to be issued, please follow the instructions on the screen.
   3. The Voting Rights Exercise Code indicated in the Voting Rights Exercise Form is valid only for this General Meeting of Shareholders.
5. Inquiries about operation of computers, etc.
6. 1. If you have any questions about operation of computers, etc., relating to the exercise of voting rights on the website, please contact the following:
   2. 
      Sumitomo Mitsui Trust Bank, Limited Stock Transfer Agency Web Support Hotline
      Telephone: [phone] (Business Hours: from 9:00 a.m. to 9:00 p.m. Japan time)
   3. For other inquiries, please contact the following:
   4. 1. Shareholders who have securities accounts with securities firms
         Please contact the securities firm with which you have your securities account.
      2. Shareholders who do not have accounts with securities firms (shareholders who have special accounts)
         Sumitomo Mitsui Trust Bank, Limited Stock Transfer Agency Department
         Telephone: [phone] (Business Hours: from 9:00 a.m. to 5:00 p.m. Japan time, excluding Saturday, Sunday and holidays)

Institutional Investors may exercise their voting rights for this General Meeting of Shareholders via electronic method through the "Electronic Voting System Platform" operated by ICJ, Inc.

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▌Information on Live Stream

We plan to provide a live stream of this General Meeting of Shareholders via the Internet only to shareholders.

1. Date and time of the live stream

• Tuesday, June 27, 2023 from 10:00 a.m. Japan time until the close of the General Meeting of Shareholders

(The live stream website is scheduled to open around 9:30 a.m., 30 minutes before the start of the meeting)

2. How to watch the live stream

• Please access to the following URL or QR code using a personal computer or smartphone and enter the ID and password to watch the live stream.

(If exercising your voting rights in writing, please write down and keep the shareholder number before mailing your Voting Rights Exercise Form.)

URL	https://1949.ksoukai.jp
ID	Shareholder number (nine digit shareholder number written on the Voting
	Rights Exercise Form)
Password	Zip code (seven digit zip code of the shareholder's registered address)
	*Write the zip code without a hyphen

1. Reminder concerning watching the live stream

1. Since you may not participate in the resolution on the day of the General Meeting of Shareholders, you are requested to exercise your voting rights in advance via the Internet, etc. or in writing.
2. Questions and opinions will not be accepted on the day of the General Meeting of Shareholders.
3. You will not be deemed to have attended this General Meeting of Shareholders.
4. In some cases, you may not be able to watch the live stream depending on the condition of your personal computer, smartphone, Internet connection and line, among other things.
5. Any fees charged for watching the live stream are to be borne by the shareholders.
6. Please refrain from filming, visual recording, sound recording, saving and disclosing the live stream.
7. The provision of the ID and password to a third party is strictly prohibited.
8. Taking into consideration the privacy of shareholders attending the meeting, the live stream will show only the areas near the seat of the chairman and the directors.
9. Streaming may be discontinued if the Company judges that such discontinuation is unavoidable.

1. Inquiries

1. About shareholder number and password
2. • Sumitomo Mitsui Trust Bank, Limited
     Virtual General Shareholders Meeting Support Hotline
     Telephone: [phone] (Business Hours: from 9:00 a.m. to 5 p.m., Japan time, excluding Saturday, Sunday and holidays)

1. About watching the live stream
2. • V-cube,Inc.

   Telephone: [phone] (Business Hours: Tuesday, June 27, from 9:00 a.m. until close of the General Meeting of Shareholders)

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