Notice Regarding Status of Share Buyback (Acquisition of Treasury Stock Based on Provisions of Article 165, Paragraph 2 of the Companies Act)

Overview of Share Buyback

M-UP Holdings Co., Ltd. has been conducting share buybacks in accordance with the resolution of the Board of Directors dated February 20, 2026, in compliance with the provisions of Article 165, Paragraph 3 of the Companies Act. From March 1 to March 31, 2026, 567,000 shares of common stock were acquired through market purchases on the Tokyo Stock Exchange with a total acquisition cost of 379,414,000 yen. The cumulative total as of March 31, 2026 amounts to 725,000 shares with a total acquisition cost of 486,364,800 yen.

Impact on Shareholders and Future Outlook

This share buyback was conducted within the framework of up to 1,450,000 shares, corresponding to a maximum of 2.0% of the total issued shares excluding treasury stock, and a total acquisition cost limit of 1 billion yen. The acquisition of treasury stock aims to enhance shareholder value, and it is expected to be appropriately carried out going forward, taking market trends into consideration. The acquisition method is market purchases, which is considered to contribute to the stabilization of the capital structure.