Certain Shares of Novac Co., Ltd. are subject to a Lock-Up Agreement Ending on 26-SEP-2022. These Shares will be under lockup for 179 days starting from 31-MAR-2022 to 26-SEP-2022.

Details:
Mitsuru Tachibana, the seller and lender, Hisao Ishida, Hisao Makino, Toshihiro Otani, Hirokazu Yamamoto, Masato Higashiyama, Atoshi, Otani Toshihiko and Hirozo Otani and our shareholders, Novak Employee Shareholding Association, Junichiro Saiki, Koichi Nakasue, Kazuko Ishida, Masaki Ohno, Motoo Nagamasa, Yoshiteru Yamane, Hirotoshi Mizuta, Toshiyuki Namba and Isota Miyajima have become lead managing underwriters. On the other hand, during the period from the conclusion of the original underwriting contract to September 26, 2022 (hereinafter referred to as the "lockup period"), which is the 180th day after the listing (starting of trading) date (including the day), the lead managing underwriter will advance in advance. Agreed not to sell the Company's common stock without the written consent of the Company (excluding the sale of the Company's common stock for sale by the underwriter's purchase transaction and the sale by over-allotment).

In addition, the Company will issue the Company's common stock, issue securities converted or exchanged for the Company's common stock, or the Company's ordinary stock without the prior written consent of the lead managing underwriter during the lockup period. Issuance of securities granted the right to acquire or receive shares (however, in connection with the offering, share split, issuance of stock acquisition rights as a stock option, and sale by over-allotment, held on February 25, 2022 We have agreed not to make a third-party allotment of shares, etc. to the lead managing underwriter, which was resolved by the Board of Directors of the Company.

In any of the above cases, the lead managing underwriter has the authority to cancel part or all of the contents of the agreement at its discretion even during the lockup period.