Notice Regarding Shareholder Benefit System

We hereby announce that we have resolved to implement a shareholder benefit system, as part of our shareholder returns, under which we will present benefit coupons exchangeable for one "Unaju <Take>" meal at stores operated by our group under the name "Unagi no Naruse." (hereinafter referred to as "This Shareholder Benefit").

1. Purpose of This Shareholder Benefit System

Our group aims to express gratitude for the daily support from our shareholders, enhance the attractiveness of our stock, encourage a broad range of individuals to hold our shares, and deepen their understanding of our group's business by allowing them to experience firsthand the products and store services offered by "Unagi no Naruse." To commemorate the launch of "Nidaime Hitsumabushi no Naruse" (Note 1), a new store format within "Unagi no Naruse," which is scheduled to begin operations in July 2026, we will implement a special shareholder benefit.

Furthermore, to encourage the mid- to long-term holding of our shares, we have also decided to implement a regular shareholder benefit system.

2. Details of This Shareholder Benefit System

Under this shareholder benefit system, shareholders who own 100 shares or more of our stock as of the end of July 2026 will receive four benefit coupons exchangeable for one "Unaju <Take>" meal at "Unagi no Naruse" stores as a special shareholder benefit (hereinafter referred to as "This Special Shareholder Benefit").

Additionally, from the end of March 2027 onwards, shareholders who have continuously held 100 shares or more of our stock for at least one year as of the end of March and the end of September each year will receive two of the same benefit coupons as a regular shareholder benefit (hereinafter referred to as "This Regular Shareholder Benefit").

This Special Shareholder Benefit is planned for a one-time implementation, while This Regular Shareholder Benefit will be implemented twice annually, with the record dates being the end of March and the end of September.

Category

This Special Shareholder Benefit

This Regular Shareholder Benefit

Record Date

As of the end of July 2026

End of March and end of September each year

Eligible Shareholders

Shareholders holding 100 shares or more of our stock as of the end of July 2026

Shareholders who have continuously held 100 shares or more of our stock for at least one year (Note 2) as of each record date (Note 3)

Benefit Details

4 "Unagi no Naruse" Unaju <Take> exchange coupons

2 "Unagi no Naruse" Unaju <Take> exchange coupons

Delivery Period

(Scheduled)

Around early September 2026

Around mid-June and mid-November each year

3. Response for Shareholders Unable to Use at Stores

For shareholders who find it difficult to use the "Unagi no Naruse" stores, it is possible to opt for an exchange for designated frozen eel products by following the prescribed application procedure.

Details regarding the content of the delivered products, application method, application deadline, and other specifics will be provided separately to eligible shareholders.

4. Other

Details regarding eligible stores, usage period, excluded dates, availability of takeout, possibility of combining with other discount tickets/coupons, and application method for delivery will be provided separately to eligible shareholders.

5. Future Outlook

The impact of this matter on our consolidated financial results is currently under review, as it will vary depending on the number of eligible shareholders, usage rates, and delivery selection rates. We will promptly announce any matters that require disclosure in the future.

Notes

(Note 1) "Nidaime Hitsumabushi no Naruse" is a new store format within "Unagi no Naruse," supervised by the long-established Nagoya restaurant "San代目 Una-to."

(Note 2) "Continuous holding for one year or more" refers to shareholders whose ownership of 100 shares or more has been continuously recorded or registered under the same shareholder number in the company's shareholder registry prepared six months and one year prior to the respective record date, as well as on the respective record date.

(Note 3) However, for the regular shareholder benefit as of the end of March 2027, eligible shareholders are those whose ownership of 100 shares or more has been continuously recorded or registered under the same shareholder number in the company's shareholder registry prepared at the end of July 2026, the end of September 2026, and the end of March 2027.

[Supplementary Explanation Material Regarding Shareholder Benefit System]

This year, we made Franchise Business Incubation Co., Ltd., which operates "Unagi no Naruse," a subsidiary. To commemorate the launch of the new store format "Nidaime Hitsumabushi no Naruse," supervised by the long-established Nagoya restaurant "San代目 Una-to," we will implement a special temporary shareholder benefit for shareholders as of the end of July 2026.

Photo shows Chiba store

Details of This Special Shareholder Benefit (Commemorative Benefit)

This is a one-time special benefit system to commemorate the opening of "Nidaime Hitsumabushi no Naruse."

Eligible Shareholders: Shareholders holding 100 shares or more

Record Date: End of July 2026

Benefit Details: Present 4 "Unaju <Take>" (¥2,500) coupons (for 4 meals)

Expiration Date: Until June 30, 2027 (common for all)

Photos are for illustrative purposes. Actual products may differ in some respects.

How to Use (Choose from 2 Styles)

You can enjoy it in one of the following ways, according to your lifestyle:

1 Use for dining at stores

Can be used at directly managed and franchise stores of "Unagi no Naruse" nationwide.

One coupon can be used as one meal of "Unaju <Take>" (¥2,500).

At the new store format "Nidaime Hitsumabushi no Naruse," one coupon can be used as one meal of "Jo Unadon" (¥2,590).

[Expiration Date: Until June 30, 2027]

*Please check the official website (https://unagi-naruse.com/shop) for a list of eligible stores.

Photo shows Roppongi store

2 Enjoy at home (frozen delivery)

Shareholders who find it difficult to visit stores can return 4 benefit coupons to receive a "Frozen Eel Pack (4 meals)" delivered to their homes. [Application Deadline: Postmark valid until June 30, 2027]

Photos are for illustrative purposes. Actual products may differ in some respects.

Company Overview of "Unagi no Naruse" and "Nidaime Hitsumabushi no Naruse" Operators

Company Name: Franchise Business Incubation Co., Ltd. Business Activities: Operation of "Unagi no Naruse" and "Nidaime Hitsumabushi no Naruse" and franchise business Location (Tokyo Office): 14F, Roppongi First Building, 1-9-9 Roppongi, Minato-ku, Tokyo 106-0032

*As a group company, we are promoting nationwide expansion under a strong management foundation.

Frequently Asked Questions (FAQ)

Q. Can I use it even if there are no stores nearby? A. Yes. For shareholders who find it difficult to visit stores, we offer a service to deliver 4 meals of frozen eel to your home.

Q. Can I use it at any store nationwide? A. It can be widely used at directly managed and franchise stores of "Unagi no Naruse" nationwide. Please use it at a store convenient for you.

Q. Can I use it at the new store format "Nidaime Hitsumabushi no Naruse"? A. Yes, you can. At "Nidaime Hitsumabushi no Naruse" stores, one coupon can be exchanged for one meal of "Jo Unadon."

Q. Do the benefit coupons have an expiration date? A. Both for use at stores and for frozen delivery applications, the deadline is June 30, 2027 (postmark valid for frozen delivery on that day).

Q. If I purchase 100 shares by the end of July 2026, will I receive 4 Unaju coupons? A. Yes, if you purchase 100 or more shares of our stock by the end of market trading on July 29 (Wed), the day before the ex-dividend date, we will send you 4 exchange coupons for "Unaju <Take>" (equivalent to ¥10,000), worth ¥2,500 each.

Q. If the price of Unaju is revised (increased) in the future, will I have to pay the difference at the store? A. No, you will not have to pay the difference. One coupon can be used as one meal of the applicable menu (Unaju <Take> or "Jo Unadon" at Nidaime Hitsumabushi no Naruse") without any additional charge.

Q. If the price of Unaju is revised (decreased) in the future, will I receive a refund for the difference? A. No, there will be no refund (change). The coupons cannot be exchanged for cash or used for change. Please note that even if the menu price is revised (decreased), one coupon can still be used as one meal of the applicable menu.

Regarding Future Shareholder Benefits

While this special shareholder benefit is a one-time measure for the temporary record date (end of July 2026), we emphasize continuous returns to shareholders who hold our stock for the mid- to long-term. We will transition and continue with a "Regular Shareholder Benefit System" (targeting shareholders who have held for over one year) implemented twice annually with record dates at the end of March and end of September.

Inquiries Regarding This Matter

AI Fusion Capital Group Co., Ltd. Management Headquarters Phone Number: 03-6261-9511 (Reception Hours: Weekdays 9:00 - 17:00)