WealthNavi : Receipt of letter from a significant shareholder

Note: This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail.

August 12, 2022

To whom it may concern:

Company Name: WealthNavi Inc.

Representative: Kazuhisa Shibayama, Representative Director and CEO

(Code Number: 7342 Tokyo Stock Exchange Growth)

Inquiries: Gaku Hirose, Director, CFO (TEL.[phone])

Receipt of letter from a significant shareholder

WealthNavi Inc. today received the attached letter from a significant shareholder, Kazuhisa Shibayama, regarding submission of "Change Report No.3" to the Kanto Local Finance Bureau by the shareholder on August 12, 2022.

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Note: This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail.

August 12. 2022

To WealthNavi Inc.,

I, Kazuhisa Shibayama, provide you with additional details and intention of "Change Report No.3" submitted on August 12, 2022.

I have concluded an agreement with Mitsubishi UFJ Morgan Stanley Securities Co, Ltd. on a stock trading plan to sell a portion of my WealthNavi stock up to 1,420,000 shares or approximately 3.0% of outstanding stock. This plan is arranged as a part of my long-term strategy for individual asset diversification and liquidity.

Under this pre-arranged stock trading plan, stock trades may commence on December 12, 2022 and will be executed through December 11, 2025 with a daily trading volume limit of 2,000 shares or approximately 0.004% of outstanding stock. I will spread stock trades out over a period of 3 years with the goal of minimizing market impact. Because this plan is established 120 days prior to any trade being made, it helps avoid concerns about any material non-public information when I make a decision to sell the stock.

The shareholders' equity will not be diluted with the sales under this stock trading plan. After the completion of the planed stock sales, I would continue to be a long-term shareholder owning over 20% of WealthNavi's outstanding stock.

Kazuhisa Shibayama

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