Micware Co., Ltd. Announces Full Exercise of Over-Allotment Option and Closing of Offering

(Note) All dates in this release are based on Eastern Time (ET) unless otherwise specified.

Kobe, May 27, 2026— Micware Co., Ltd. ("Micware"), a Japanese company providing software development services and innovative IT solutions primarily in the automotive and mobility sectors, announced today that the underwriters of its previously announced initial public offering ("Offering") have fully exercised their over-allotment option to purchase an additional 427,500 American Depositary Shares ("ADSs") at the public offering price of $8.00 per ADS. This resulted in additional gross proceeds of $3.42 million. Each ADS represents one share of the Company's common stock. With the full exercise of the over-allotment option, the total number of ADSs sold in the Offering increased to 3,277,500 ADSs, and the total gross proceeds, before deducting underwriting discounts and other offering-related expenses, reached approximately $26.2 million. The sale of the additional ADSs was completed on May 27, 2026. Micware's ADSs began trading on the Nasdaq Global Market under the ticker symbol "MWC" on May 14, 2026.

A.G.P./Alliance Global Partners acted as the sole book-running manager for the Offering.

The net proceeds from the Offering are intended to be used for: (i) the Dynamic Street Map & Market Place (DSMM) project and expansion of the proprietary IVI software platform micAuto-PF; (ii) general corporate purposes; (iii) strategic investments in the Software Defined Vehicles (SDV) and Location-Based Services (LBS) segments; and (iv) marketing and advertising activities.

Hunter Taubman Fischer & Li LLC served as US counsel to the Company, and Robinson & Cole LLP served as US counsel to A.G.P.

The registration statement on Form F-1 (File No. 333-294081) was declared effective by the SEC on May 13, 2026. The final prospectus is available on the SEC website (www.sec.gov).

Micware is a software development and IT solutions provider headquartered in Kobe, focusing on the automotive and mobility sectors. Since its founding in 2003, Micware has built over 20 years of experience in automotive software. The company maintains long-term relationships with major Japanese OEMs, including Honda Motor Co., Ltd. and Toyota Motor Corporation. As of February 28, 2024, Micware was ranked 9th in the IVI market among Japanese Tier 1 suppliers by revenue. The company operates 6 business entities and 12 locations in Japan, with subsidiaries in the US, Thailand, and Germany.