Nifco : NOTICE OF THE 69th ANNUAL GENERAL MEETING OF SHAREHOLDERS

To our shareholders

Securities Code: 7988 8th June, 2021

5-3 Hikarinooka, Yokosuka-shi, Kanagawa

Nifco Inc.

Masaharu Shibao, President & Representative Director

NOTICE OF THE 69th ANNUAL GENERAL MEETING OF SHAREHOLDERS

We would like to announce that the 69th Annual General Meeting of Shareholders will be held as stated below.

Due to the recent novel coronavirus outbreak, the national government and prefectural governors have urged people to stay home in order to prevent the spread of the virus. In light of these circumstances and after careful consideration, we have decided to implement thorough infection-control measures at the upcoming General Meeting of Shareholders.

Since people are strongly encouraged not to go outside and in order to prevent the spread of infection, we strongly urge you to, if possible, exercise your voting rights either by mail or online prior to the General Meeting of Shareholders and refrain from attending the meeting in person regardless of your health condition.

Anyone who is not well (has flu-like symptoms, fatigue, shortness of breath or difficulty breathing, and/or a fever) on the day of the meeting will be refused entry into the venue.

Please exercise your voting rights using either of the following methods after reviewing the attached Reference Documents.

[Exercising Voting Rights by Mail]

Please indicate your vote for or against the resolutions on the enclosed proxy form which should be returned to the company to reach us no later than 5:30 p.m. on June 23, 2021.

[Exercising Voting Rights Online]

To exercise your voting rights online, please either scan the login QR code or access the Company's designated voting website (https://soukai.mizuho-tb.co.jp/). You can input your vote for or against the resolutions by following the on-screen guidance. Please be sure to vote by no later than 5:30 p.m. on June 23, 2021.

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If you exercise your voting rights online, please confirm "Instructions for voting online" on page 5.

If there is no indication of approval or disapproval for particular resolutions, the shareholder will be construed as having approved the resolution in question.

--------------------------------------------------	Details of the Meeting ------------------------------------------------
1	Date and Time:	10 a.m. on Thursday, June 24, 2021 (doors open at 9:30 a.m.)
2	Location:	Mita NN Hall, B1 floor (1st basement), Mita NN Building, 4-1-23 Shiba,
		Minato-ku, Tokyo

This year there will be a lot fewer seats as in the last year and greater space between seats in order to prevent the spread of infections. Please note that you may be refused admission to the venue upon arrival due to limited seat availability.

3	Agenda:	Reports:	1.	The business report (1st April, 2020 - 31st March, 2021),
				and the consolidated accounts together with the report of the
				Statutory Auditors and the Public Accountants thereon.
			2.	The accounts (1st April, 2020 - 31st March, 2021)

Resolutions:	Resolution 1	Appropriation of retained earnings
	Resolution 2	Partial changes of the Articles of Incorporation
	Resolution 3	Election of six candidates for Director who are
		not Audit & Supervisory Committee Members
	Resolution 4	Election of three candidates for Director who
		are Audit & Supervisory Committee Members
	Resolution 5	Election of one candidate for Director who is
		an Audit & Supervisory Committee Member
		to fill a vacancy
	Resolution 6	Determining Amount of Remuneration for
		Directors who are not Audit & Supervisory
		Committee Members
	Resolution 7	Determining Amount of Remuneration for
		Directors who are Audit & Supervisory
		Committee Members
	Resolution 8	Determining Amount and Details of
		Performance-Linked	Share-Based
		Compensation, etc., to Directors who are not
		Audit & Supervisory Committee Members,
		etc.

4	How	to exercise	Please see "How to Exercise Your Voting Rights" on page 4.
	your	voting
	rights

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• If you attend the Annual General Meeting of Shareholders, please present the enclosed voting form to the receptionist at the meeting.
• Also, should there be any amendments to the Reference Documents, the business report, the accounts, or the consolidated accounts, they will be published on the Company's website.

Company's website (https://www.nifco.com/)

We will no longer offer gifts to or hold a social gathering for shareholders at the Annual General

Meeting of Shareholders. We appreciate your understanding.

(Request for shareholders)

• If you exercise your voting rights using the proxy form, there will be a risk of infection from the process of returning the form and counting of votes. Accordingly, if you exercise your voting rights prior to the General Meeting of Shareholders, we would appreciate you voting online if at all possible.
• This year there will be a lot fewer seats as in the last year and greater space between seats in order to prevent the spread of infections. Please note that you may be refused admission to the venue upon arrival due to limited seat availability. Operations staff of the General Meeting of Shareholders will wear masks when receiving you after having their physical conditions checked, including measurement of body temperature.
• Operations staff of the General Meeting of Shareholders will wear masks when receiving you after having their physical conditions checked, including measurement of body temperature.
• We will install alcohol-based (hand) sanitizers for shareholders near the reception desk of the venue.
• When attending the meeting, please make sure to bring a mask and wear it. Shareholders who are not wearing a mask will be refused admission to the venue.
• After measurement of body temperature at the reception desk, anyone who has a fever or appears unwell may be refused entry into the venue and requested to go home.
• Doors at the venue may be opened for air ventilation.
• For this General Meeting of Shareholders, detailed explanations for the reports (including the audit report) and resolutions at the venue will be omitted from the viewpoint of reducing the meeting time to prevent the spread of COVID-19 infections. We would appreciate it if shareholders would read the notice of convocation prior to the General Meeting of Shareholders. Moreover, we would request that questions will be limited to one for each shareholder, and kept brief. Please note that when you ask a question, kindly move to the stand microphone in the venue before asking the question.

We may update the above measures in accordance with the spread of infections and announcements by the government, etc., before the General Meeting of Shareholders. You are also kindly requested to check the information we post on the Company's website (https://www.nifco.com/)

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How to exercise your voting rights

Your ability to vote at the Annual General Meeting of Shareholders is an important right.

Please read the attached Reference Documents before exercising your voting rights.

You can use one of the following three methods to exercise your voting rights.

	Online				By mail				In person
	Follow the instructions on the next				Fill out the enclosed proxy form to				Present the enclosed proxy form at
	page to vote on each resolution.				vote on each resolution and return it				the reception desk when attending the
					by mail.				meeting.
	Exercise your voting rights by				Exercise your voting rights by				Date and Time:
	Wednesday, 23rd June, 2021				Wednesday, 23rd June, 2021				Thursday, 24th June, 2021
	5:30 p.m. (Online voting				5:30 p.m. (The form must be				10:00 a.m.
	must be completed by this				returned by this time.)				(Doors open at 9:30 a.m.)
	time.)

How to fill out the proxy form

Indicate your votes here.

Resolutions 3 and 4

 If you are voting for

	the
	appointment/reappoi
	ntment of all
	candidates
	 If you are voting
	against the
	appointment/reappoi
	ntment of all
	candidates
* The above image is for illustration purposes only. The actual form may vary.	 If you are voting
	against the
	appointment/reappoi
	ntment of some of
	the candidates

>>	Enter	a	circle	in	the
" For" box
>>	Enter	a	circle	in	the
" Against" box

Enter a circle in the box for " For" and write the

• number(s) associated with the candidate(s) you are voting against.

Resolutions 1, 2, 5, 6, 7 and 8

• If you are voting for the resolution
• If you are voting against the resolution

>>	Enter	a	circle	in	the
" For" box
>>	Enter	a	circle	in	the
" Against" box

If you exercise your voting rights both by mail and online, only the votes cast online will be considered valid. If you exercise your voting rights online more than once, only your last vote will be counted.

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Instructions for voting online

Scanning your login QR code

(Smart Vote)

You can log in to the Voting Website without entering your voting rights exercise code and password.

1 Scan the QR code shown at the right bottom corner of the proxy form.

• QR code is a registered trademark of Denso Wave Incorporated. 2 Follow the on-screen instructions to cast your votes.

When using Smart Vote, you can exercise your voting rights only

once.

If you wish to change your vote after excising your voting rights, access the PC site, log in using the voting rights exercise code and password shown on the proxy form, and vote again.

* You can access the PC site by scanning the QR code again.

Entering your voting rights exercise code

and password

Voting Website

https://soukai.mizuho-tb.co.jp/

1 Access the Voting Website.

Click " Proceed"

2 Enter the voting rights exercise code shown on the proxy form.

Enter the voting rights exercise code

Click " Next"

3 Enter the password shown on the proxy form.

Enter the initial password

Set a new password for yourself.

Click " Register"

4 Follow the on-screen instructions to cast your votes.

• The above images are for illustration purposes only. Actual screens may vary.

If you have any questions about how to operate a PC, smartphone, or cell phone when voting online, please contact:

Internet Help Dial, Stock Transfer Agency Department, Mizuho

Trust & Banking Co., Ltd.

0120-768-524

(Hours: 9:00 a.m. - 9:00 p.m. on weekdays)

Institutional investors may use theElectronic Voting Platform for institutional investors operated by ICJ, Inc.

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