Notice Regarding the Sending of Proxy Solicitation Documents for the Extraordinary General Meeting of Shareholders of “Oi Electric Co., Ltd.”

We have exercised our right to propose proposals (Article 303 of the Companies Act) at the extraordinary general meeting of shareholders of Oi Electric Co. to be held on February 16, 2022.
We are pleased to announce that we have sent out proxy solicitation documents for the purpose of obtaining voting rights in accordance with Article 36-2 of the Enforcement Order of the Financial Instruments and Exchange Law and the Cabinet Office Ordinance on Solicitation of Proxy Exercise of Voting Rights for Listed Shares, in order to obtain the approval of the following agenda proposed by us.

Agenda Items
Proposal No. 1: Dismissal of one Director
Dismissal of Mr. Kou Ishida, President

If you are a shareholder of Oi Electric who agrees with our proposal and is unable to attend the meeting, please fill out and sign the proxy form enclosed in the “Reference Materials for Soliciting Proxy Exercise of Voting Rights” and return it together with your voting form.

<To the shareholders of “Oi Electric Co., Ltd.”>
In order for Oi Electric to grow dramatically in the future, we cannot expect growth under the old system, as is evident from the stock price over the past few years, and it is necessary to bring about a drastic change. The directors who manage the company should be people who can identify the potential value of the company’s assets and take proactive action to bring the company to its true potential and grow it. We hope that this proposal will be an opportunity for the company to make its own changes, and that we will be able to receive the opinions of shareholders regarding the company.