RENOVA : Notice Regarding Partial Amendments to the Articles of Incorporation

May 24, 2022

Corporate Name: RENOVA, Inc.

Representative: Yosuke Kiminami, Founding CEO

(Stock code: 9519

The Prime Market of the

Tokyo Stock Exchange)

Contact: Kazushi Yamaguchi, CFO

(TEL: [phone])

Notice Regarding Partial Amendments to the Articles of Incorporation

RENOVA Inc. (the "Company") hereby announces that at a meeting of the Board of Directors held today it resolved to submit a proposal to partially amend the Articles of Incorporation to the 23rd Annual General Meeting of Shareholders scheduled on June 17, 2022. Details are as follows.

1. Purpose of amending the Articles of Incorporation

1. The "Act for Partially Amending the Industrial Competitiveness Enhancement Act and Other Related Acts" (Act No. 70 of 2021) was implemented on June 16, 2021. This has enabled the listed companies to, by providing in their articles of incorporation and under certain conditions, hold a general meeting of shareholders without designating its location (so-called a "virtual" shareholder's meeting without a physical venue, in which directors and shareholders, etc. virtually attend over the internet or through other methods). Taking into account such contingencies as large-scale disasters, including infectious diseases and natural disasters, and increased prevalence of digital technologies in society as a whole, the Company believes that expanding the range of selectable methods for holding a General Meeting of Shareholders would benefit our shareholders. Accordingly, the Company shall establish Article 12, Paragraph 2 of the proposed amendments. The effectuation of said Paragraph is conditional upon confirmation by both the Minister of Economy, Trade and Industry and the Minister of Justice to the effect that the Company satisfies the requirements as stipulated by Orders of the Ministry of Economy, Trade and Industry and the Ministry of Justice, in addition to the resolution at this Annual General Meeting of Shareholders.
2. The effective date of implementation of the system for electronic provision of materials for general meetings of shareholders stipulated in the proviso of Article 1 of the supplementary provisions of the "Act Partially Amending the Companies Act" (Act No. 70 of 2019) was set as September 1, 2022. In line with this, the Company shall provide that information contained in the Reference Documents for the General Meeting of Shareholders, etc. shall be provided electronically. The Company shall also provide that the scope of matters to be included in the paper copy to be given to shareholders requesting it can be limited.
   In addition, the provisions related to the internet disclosure and deemed provision of the Reference Documents for the General Meeting of Shareholders, etc. will become redundant and will therefore be deleted, and supplementary provisions related to the effective date, etc. will be established in line with these amendments.

2. Details of the amendments

Details of the amendments are as shown below.

	(Amendments are underlined.)
Before the change	After the change
(Convocation)	(Convocation)
Article 12 This Annual General Meeting of	Article 12 This Annual General Meeting of
Shareholders of the Company shall be called within	Shareholders of the Company shall be called within
three months of the end of every business year, and	three months of the end of every business year, and
an Extraordinary Meeting of Shareholders shall be	an Extraordinary Meeting of Shareholders shall be
called whenever necessary.	called whenever necessary.
(New)	2. The Company may hold its General Meeting of
	Shareholders as a General Shareholders Meeting
	without a designated location.
(Disclosure via Internet of Reference Document for	(Deleted)
General Meeting of Shareholders, etc. and Deemed
Provision)
Article 15 In conjunction with the convening of a
general meeting of shareholders, information on
matters that should be described or indicated in
reference documents for the general meeting of
shareholders, business reports, financial statements
and consolidated financial statements shall be
deemed to have been provided to shareholders, if the
Company discloses such information by any Internet-
based means pursuant to the Ministry of Justice Order.
(New)	(Electronic Provision Measure, etc.)
	Article 15 Upon convening a General Meeting of
	Shareholders, the Company shall take electronic
	measures to deliver the contents of reference
	documents for the general meeting of shareholders,
	etc.
	2. The Company may omit all or part of the information
	specified in the Order of the Ministry of Justice and
	provided in an electronic form from documents
	delivered to those shareholders who have requested
	documents in a paper form before the record date of
	voting rights.
(New)	(Supplementary Provisions)
	1. The amendment of the Article 15 of the Articles of
	Incorporation shall take effect on September 1, 2022,

the effective date of implementation of the revised provision in the proviso of Article 1 of the Supplementary Provisions of the Act Partially Amending the Companies Act (Act No. 70, 2019) (hereinafter, the "Effective Date").

2. Notwithstanding the provisions of the preceding paragraph, Article 15 (Disclosure via Internet of Reference Document for the General Meeting of Shareholders, etc. and Deemed Provision) of the current Articles of Incorporation shall remain effect for any General Meeting of Shareholders the date of which is a date within six months of the Effective Date. 3. These Supplementary provisions shall be deleted on the date on which six months have elapsed from the Effective Date or the date on which three months have elapsed from the date of the General Meeting of Shareholders under the preceding paragraph, whichever is later.

3. Schedule

Date of the General Meeting of Shareholders for said amendments: June 17, 2022 (plan)

Effective date of the amendments: June 17, 2022 (plan)*

• The actual date of the effect of the amendment described in 1. (1) above will be the date of the confirmation by the Minister of Economy, Trade and Industry and the Minister of Justice to the effect that the requirements specified by Orders of the Ministry of Economy, Trade and Industry and the Ministry of Justice are satisfied, in addition to a resolution of the general shareholders meeting.

[For inquiries about this release, please contact] Kenichiro Nose, Investor Relations

Tel: [phone]

Email: [e-mail]