Certain Common Stock of Microwave Chemical Co., Ltd. are subject to a Lock-Up Agreement Ending on 21-SEP-2022. These Common Stock will be under lockup for 89 days starting from 24-JUN-2022 to 21-SEP-2022.

Details:
Iwao Yoshino, a shareholder, Yasunori Tsukahara, a shareholder of the Company and an officer of the Company, Mitsui Chemicals Co., Ltd., Chishima Land Co., Ltd., Akiyoshi Ishizuka, and Futamura Chemical Co., Ltd. Tomoo Yamauchi and Taiyo Kagaku Co., Ltd. and Tomoya Shimojo, Hisao Watanabe, Satoshi Murata, Koichi Oyama, Nobue Kanegae, Yuji Wada, Masaaki Kanno, Daiji Kitani, Shota Imai, Hiroshi Otani, Yokazu Hagimoto, Naoko Sawaki, Keisuke Ito, Naoyuki Wada, Toshihiko Ogata, Haruki Okumura, Kanako Kaihara, Yasushi Takamoto, Kazushi Uemura, Naoki Hori, Satoshi Morikawa, Takanobu Murata and 26 other stock acquisition rights holders , SMBC Nikko Securities Inc. (hereinafter referred to as the "lead managing underwriter"), starting from the date of conclusion of the original underwriting contract for the sale by the offer and the underwriter's purchase transaction, counting from the listing (starting of trading) date During the period until December 20, 2022, which is the 180th day, the Company's common stock (including potential stock) held by its own calculation on the date of conclusion of the principal underwriting contract without the prior written consent of the lead managing underwriter. We promise that we will not issue, transfer or sell securities that have the right to acquire the Company's common stock.

UTEC 2 L.P., Jafco SV4 Kyoyu Fund, INCJ, Ltd., Shinsei Bank, Limited and Iwatani Venture Capital LLC, and PNB- INSPiRE Ethical Fund 1 Investment Business Limited Liability Union, OUVC No. 1 Investment Business Limited Liability Union, DBJ Capital Investment Business Limited Liability Union, Mitsui Kinzoku-SBI Material Innovation Fund, SMBC Venture Capital No. 2 Investment Business Limited Liability Union, Hack Osaka Investment Business Limited Liability Union, Daiichi Life Insurance Co., Ltd. Company, Ikeda Senshu Capital New Business Fund No. 5 Investment Business Limited Liability Union, SBI Venture Corporate Growth Support No. 3 Investment Business Limited Liability Union, SBI Venture Corporate Growth Support No. 4 Investment Business Limited Liability Union, SBI Ventures Two Co., Ltd., SBI Venture Corporate Growth Support No. 2 Investment Business Limited Liability Union and SBI Venture Corporate Growth Support Investment Business Limited Liability Union started on the day of the conclusion of the original underwriting contract for the sale by accepting the offer and the underwriter's purchase transaction to the lead managing company. During the period from the listing (start of trading) to September 21, 2022, which is the 90th day, the principal underwriting contract will be calculated on the day of the conclusion of the principal underwriting contract without the prior written consent of the lead managing company. Issuance, transfer or sale of the Company's common stock and securities that have the right to acquire the Company's common stock (however, the selling price is 1.5 times or more the issuance price in the offering or the selling price in the sale, and the chief secretary We promise not to make sales through the company on the Tokyo Stock Exchange.

In addition, the Company will start on December 20, 2022, which is the 180th day from the listing (starting of trading) date, starting on the date of conclusion of the original underwriting contract for the sale by the lead underwriter and the underwriter's purchase transaction to the lead managing underwriter. During the period up to the date, issuance or sale of the Company's common stock and securities with the right or obligation to acquire the Company's common stock without obtaining the prior written consent of the lead managing underwriter (for this third-party allotment). We have agreed not to issue stock acquisition rights related to stock options and issue common stock of the Company by exercising stock acquisition rights, such as issuance of new shares and issuance of new shares through a share split.