V cube : Notice on the Policy for Determining Directors' Remuneration V-

March 28, 2023

Company name: V-cube, Inc.

Chairman & Group CEO: Naoaki Mashita

Tokyo Stock Exchange, Prime Market (stock code: 3681)

Contact: Director & CFO, Corporate Planning Division General Manager

Kazuki Yamamoto (TEL.[phone])

Notice on the Policy for Determining Directors' Remuneration

V-cube, Inc. (hereinafter "the Company") hereby announces that our board of directors' meeting held on March 28, 2023, resolved the following revisions to the policy for determining the directors' remuneration, in connection with the transition to a company with an audit and supervisory committee.

• 1. Basic Policy

  The amount of remuneration for the Company's directors (excluding outside directors and directors who are the audit and supervisory committee members) consists of basic remuneration based on their positions and responsibilities, taking into consideration the size and performance of the Company, and stock-based remuneration as mid- to long-term incentives, up to the maximum amount of remuneration resolved in advance at the General Meeting of Shareholders.

  The remuneration for outside directors and audit and supervisory committee members consists only of basic remuneration in order to ensure that the management supervisory function is fully functional.

• 2. Policy on Determination of Basic Remuneration

  The basic remuneration of the Company's directors (excluding directors who are the audit and supervisory committee members) is a monthly fixed remuneration paid monthly and is determined based on comprehensive consideration of each position, responsibilities considering the Company's size and business performance.

• 3. Policy on Determination of Performance-Linked Remuneration and Non-Monetary Remuneration

  The Company does not adopt performance-linked remuneration, and non-monetary remuneration which is medium- to long-term incentives, is a restricted stock unit plan. It shall be allocated to the directors based on a resolution of the Board of Directors of the Company after deliberation by the nomination and remuneration committee, and shall be granted, in principle, after the end of the evaluation period.

• 4. Policy for Determining the Ratio of Remuneration

  The Company shall determine the most appropriate ratio of remuneration, based on the base remuneration, while comprehensively taking into consideration the contribution to the medium-term growth of the Company in accordance with the position, responsibilities of each person.

• 5. Delegation of authority to determine the individual director's remuneration The allocation of individual director's remuneration is delegated to Naoaki Mashita, Chairman and

Group CEO, by resolution of the Board of Directors, based on the nomination and remuneration committee's review and report. The reason for the delegation is that the Company has determined that the Representative Director and Chairman is the most appropriate person to evaluate the duties of each director while taking into consideration the Company's overall performance and other factors.

Naoaki Mashita shall determine the allocation of individual director's remuneration, respecting the content of the nomination and remuneration committee's report.