77 Bank : Notice of Convocation of the 139th Annual General Meeting of Stockholders

These documents are translations of parts of the Japanese originals for reference purposes only.

In the event of any discrepancy between these translated documents and the Japanese originals, the originals shall prevail. The Bank assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translations.

(Securities Code: 8341)

June 6, 2023

(Electronic Provision Measures Commencement Date: June 1, 2023)

To Stockholders with Voting Rights:

Hidefumi Kobayashi

President

The 77 Bank, Ltd.

3-20, Chuo 3-chome,Aoba-ku,

Sendai City, Miyagi Prefecture,

Japan

NOTICE OF CONVOCATION OF

THE 139TH ANNUAL GENERAL MEETING OF STOCKHOLDERS

You are hereby notified that the 139th Annual General Meeting of Stockholders of The 77 Bank, Ltd. (the "Bank") will be held for the purposes as described below.

Measures for electronic provision are taken in convening this General Meeting of Stockholders, and the Electronic Provision Measures Matters are posted as "Notice of Convocation of the 139th Annual General Meeting of Stockholders" on the websites below.

[The Bank's website] https://www.77bank.co.jp/english/stockholders.htm

• Please select "Notice of Convocation of the 139th Annual General Meeting of Stockholders" [The Tokyo Stock Exchange's website] https://www2.jpx.co.jp/tseHpFront/JJK020010Action.do?Show=Show
• Please access the above website (Listed Company Search) and enter "The 77 Bank, Ltd." or the Bank's securities code "8341", then select "Basic information" and "Documents for public inspection/PR information" to review the information.

In lieu of attending the meeting, you can exercise your voting rights via the Internet, etc., or in writing via mail. If you exercise your voting rights in advance, please review the Reference Documents for the General Meeting of Stockholders described hereinafter and exercise your voting rights according to the Guide for Exercise of Voting Rights (Page 3) by 5:00 p.m. on Wednesday, June 28, 2023, Japan standard time.

1. Date and Time: Thursday, June 29, 2023 at 10:00 a.m. Japan standard time

2. Place:	4F, Conference Room, Head Office, the Bank, 3-20, Chuo 3-chome,Aoba-ku,
	Sendai City, Miyagi Prefecture, Japan

3. Meeting Agenda:

Matters to be reported: 1. The Business Report and Non-consolidated Financial Statements for the

Bank's 139th Fiscal Year (from April 1, 2022 to March 31, 2023)

2. Consolidated Financial Statements for the Bank's 139th Fiscal Year (from April 1, 2022 to March 31, 2023) and results of audits of the Consolidated Financial Statements by the Accounting Auditor and the Audit & Supervisory Committee

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Proposals to be resolved:

Proposal No. 1: Appropriation of Surplus

Proposal No. 2: Election of Eleven (11) Directors (Excluding Directors Serving as Audit & Supervisory Committee Members)

Proposal No. 3: Election of Five (5) Directors Serving as Audit & Supervisory Committee Members

4. Matters Determined for Convocation Notice of inconsistent voting

If you wish to make inconsistent voting, please notify the Bank in writing of your intention of making inconsistent voting of votes and the reasons thereof at least three (3) days prior to the Annual General Meeting of Stockholders.

If no indication of your vote for or against the proposals on the Voting Rights Exercise Form in writing, it

will be treated as you have indicated your vote for the proposal.

*In the case where revisions are made to the Electronic Provision Measures Matters, the revised contents will be posted on each website of the Bank and the Tokyo Stock Exchange.

End

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Guide for Exercise of Voting Rights

Please exercise your voting rights by one of the following methods.

• Please submit the enclosed Voting Rights Exercise Form at the reception desk.
• Copies of the "Notice of Convocation" to use at the General Meeting will be available at the venue.

*The temperature of the venue is set slightly higher to save energy, and as such we would like to request our stockholders to wear light clothing when attending.

Date and time of the General Meeting of Stockholders: Thursday, June 29, 2023 at 10:00 a.m. Japan standard time

Exercise of voting rights via the Internet, etc.

Please access the website for exercising voting rights designated by the Bank (https://www.e-sokai.jp) using the "voting rights exercise code" and the "password" indicated on the enclosed Voting Rights Exercise Form, and follow the on-screen guidance to enter whether you are for or against each of the proposals.

Deadline: Wednesday, June 28, 2023 at 5:00 p.m. Japan standard time

Exercise of voting rights via mail

Please indicate your vote for or against the proposals on the enclosed Voting Rights Exercise Form and return it so that it is received by the deadline.

Deadline: Wednesday, June 28, 2023 at 5:00 p.m. Japan standard time

If you vote both in writing on the Voting Rights Exercise Form and via the Bank's designated voting website on the Internet, etc., only your vote exercised via the Internet, etc. will be deemed valid. In addition, if you submit your vote multiple times via the Internet, etc., only the most recent vote will be deemed valid.

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Reference Documents for the General Meeting of Stockholders

Proposals and References

Proposal No. 1: Appropriation of Surplus

With respect to the appropriation of surplus, the Bank's basic policy is to continue stable dividend payment, taking into consideration the public nature of the banking business and maintaining soundness of management, while paying attention to the internal reserve to strengthen the management structure. It is proposed that the surplus be appropriated as follows:

1. Matters concerning year-end dividends
2. 1. Type of dividend property Cash
   2. Matters concerning the allotment of dividend property and the total amount
      50.00 yen per share of common stock, an increase of 10.00 yen from the previous fiscal year-end, for a total of 3,735,313,000 yen
      Dividends to be paid for the full year amount to 90.00 yen per share including the interim dividend paid.
   3. Effective date of distribution of surplus June 30, 2023
3. Other matters concerning the appropriation of surplus
4. 1. Item and the amount of surplus to be increased

General reserve	16,000,000,000 yen
(2) Item and amount of surplus to be decreased
Retained earnings brought forward	16,000,000,000 yen

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Proposal No. 2: Election of Eleven (11) Directors (Excluding Directors Serving as Audit & Supervisory Committee Members)

The terms of office of all the ten (10) Directors (excluding Directors serving as Audit & Supervisory Committee Members; hereinafter the same applies in this Proposal) will expire at the conclusion of this Annual General Meeting of Stockholders.

Accordingly, the election of Eleven (11) Directors is proposed.

Having the Audit & Supervisory Committee to examine this proposal in advance, as the nomination of candidates was done appropriately after the deliberation by the Corporate Governance Committee in accordance with the policy and procedures on nomination of candidates specified in the basic policy on corporate governance, each candidate is suitable for the position of the Bank's Director. Therefore, with respect to the details of this proposal, there were no specific matters to be commented on at the General Meeting of Stockholders in accordance with the provisions of the Companies Act.

The candidates for Directors are as follows.

No.	Name	Candidate attributes
1	Teruhiko Ujiie	Reappointment	Male
2	Hidefumi Kobayashi	Reappointment	Male
3	Yoshikazu Onodera	Reappointment	Male
4	Masanori Muranushi	Reappointment	Male
5	Shuichi Ibuka	New candidate	Male
6	Takashi Kuroda	New candidate	Male
7	Hiroshi Kobayashi	New candidate	Male
8	Emiko Okuyama	Reappointment	Female	Outside Director
Independent Director
9	Seiichi Ohtaki	Reappointment	Male	Outside Director
Independent Director
10	Shigenori Oyama	Reappointment	Male	Outside Director
Independent Director
11	Kazuo Fukuda	New candidate	Male	Outside Director
Independent Director

Current positions at the Bank Representative Director and Chairman Representative Director and President Managing Director

Managing Director

Senior Executive Officer and General Manager, Head Office Business Div., Basho no Tsuji Branch and Minamimachi-dori Branch

Senior Executive Officer and General Manager, Personnel Div.

Executive Officer and General Manager, General Planning & Coordination Div.

Director (Outside Director)

Director (Outside Director)

Director (Outside Director)

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