(Translation)

August 13, 2024
Name of the Company:
Name of theRepresentative:
Person to contact:

ULVAC, Inc.
Setsuo Iwashita
President & CEO(Code No.6728; TSE Prime Market)
Daichi Harada
General Manager of IR Dept.,
Administration HQ(TEL. 0467-89-2024)

Notice regarding the introduction of Share-Based Compensation Plan for Employees
We hereby announce that our Board of Directors has decided to introduce the following ShareBased Compensation Plan for Employees (hereinafter; “the Plan") in today’s meeting.
1. Purse of the Plan
The Plan is introduced for the purpose to increase the medium-to-long term corporate value ofULVAC, Inc. (hereinafter “the Company”) by clarifying the link between the economic interests ofemployees who hold a certain range of positions designated by the Company as future senior
management candidates (hereinafter; "the Employee") and the Company's performance and stock
value, thereby to enhance their participation in management and their senses of responsibility for
the Company's performance, and to foster a sense of integrity with the management.
2. Overview of the Plan
The Plan is an incentive plan in which a trust (hereinafter “the Trust") is established using money
contributed by the Company, the Trust acquires the Company's common shares (hereinafter; “theCompany Shares"), and the Company's Shares are granted through the Trust to the Employees
who meet certain requirements based on the points granted to them.
The points are awarded according to the Employee’s rank and performance achievement level, inaccordance with stock issuance regulations established by our board of directors, and the numberof the Company Shares awarded to the Employee will be determined by the number of awardedpoints.
The funds to acquire the Company Shares by the Trust will be contributed entirely by our company,
therefore there is no burden on the Employees.
The introduction of the Plan enables the Employee to enjoy the economic benefits of rising thecompany stock price, which can be expected to encourage the Employee to carry out work with
an awareness towards the stock price and to enhance motivation.

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＜Overview of the Plan＞【Trustor】
ULVAC, Inc.

②Contribution to establish the Trust【Trustee】SMTB*(Re-trustee: Custody Bank of Japan, Ltd.)

Stock issuance trustthe Company’sshare⑤Points①Establish the Rules ofShare Compensation

Stock Market③PaymentCash④Instruct voting right

Trust administrator③Shares⑥Sell shares⑥Sale proceeds⑥Shares and Cash

【Beneficiaries】
the Employee*SMTB: Sumitomo Mitsui Trust Bank, Ltd① The Company shall establish the rules of share-based compensation for the Employee(hereinafter “the Rules of the Plan”).
② The Company shall set up an ESOP trust for the Company’s employees as the beneficiary.
The Company shall entrust the trustee with the fund for acquiring the Company’s shares.
③ The trustee will acquire a substantial number of our company shares expected to bedelivered in the future in a lump sum by way of acquisition from the exchange market.
④ A trust administrator (who is independent of the Company) that protects the interests of thebeneficiary throughout the trust period and oversees the trustee is appointed. Regarding
the shares of the Company in the Trust, the trust administrator will instruct the trustee toexercise voting rights, and the trustee will exercise the voting rights during the trust period
based on those instructions.
⑤ Based on the rules of the Plan, the Company will grant points to the Employee.
⑥ The Employee who meets the requirements set forth in the rules of the Plan and the trust
agreement for the Trust will receive the Company Shares from the Trustee according to thepoints they have been granted, as beneficiaries of the Trust.
In addition, if it is applicable to certain events stipulated in advance in the Rules of the Planand trust agreement, a portion of the Company Shares to be delivered will be sold on stock
exchange market and cash will be paid.
Sumitomo Mitsui Trust Bank, Ltd., as the trustee of the Plan, will entrust (re-trust) themanagement of trust assets to Japan Custody Bank, Ltd.

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３．Overview of the Trust（１）NameShare-Based Compensation Plan for the Employees（２）Trustor

ULVAC, Inc.

（３）Trustee

Sumitomo Mitsui Trust Bank, Ltd（Co-trustee: Custody Bank of Japan, Ltd.）（４）Beneficiaries

The Employees who meet beneficiary requirements（５）Trust administrator

The third party that is independent of ULVAC, Inc. and its officers will
be appointed（６）Voting rights

The trustee shall exercise the voting during the trust period basedon the trust administrator’s instructions.

（７）Trust type

Money held in trust other than money held in trust(third-party benefit trust)（８）Date of Trust Contract

August 21, 2024

（９）Date to Entrust Cash

August 21, 2024

（10）Date to End Trust

End of December 2027 (Planned)

４．Matters as to the acquisition of Shares by the Trustee of the Plan
（１）Type of shares to be acquired

Common shares（２）Cash entrusted for the acquisition

JPY 90,000,000of the Shares（３）Total number of shares to be acquired

Up to 8,100 shares（４）Method of the share acquisition

Acquisition from the stock market（５）Timing of the share acquisition

August 21, 2024 to August 30, 2024 (scheduled)This document has been translated from the Japanese original for reference purpose only. In the eventof any discrepancy between this translated document and the Japanese original, the original shall prevail.

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