Certain Common Shares of PIETRO Co., Ltd. are subject to a Lock-Up Agreement Ending on 18-APR-2024. These Common Shares will be under lockup for 90 days starting from 19-JAN-2024 to 18-APR-2024.

Details:
In connection with the general offering, the Company's shareholders M.LYNX Co., Ltd., Nisshin Oilli Group Co., Ltd., and Keiko Nishikawa have requested to Nomura Securities Co., Ltd. that the price will be calculated from the date of determination of the issue price, etc. During the period ending on the 90th day of the lock-up period (hereinafter referred to as the "lock-up period"), we have agreed that, in principle, we will not sell our shares without the prior written consent of Nomura Securities Co., Ltd.

Furthermore, during the lock-up period, the Company may not permit Nomura Securities Co., Ltd. to issue any Company shares, issue securities that will be converted or exchanged for Company shares, or issue Company shares without Nomura Securities Co., Ltd.'s prior written consent. We have agreed that we will not issue securities for which we have been granted the right to acquire or receive (excluding general offerings, capital increase through third-party allotment, and issuance of new shares through stock splits, etc.).