This document has been translated and summarized from the Japanese original for reference purposes only. In the event of any
discrepancy between the translated version and the Japanese original, the original version shall prevail. The Company assumes noresponsibility for this translation or for any direct, indirect or any other form of damage arising from the translation.

May 22, 2024
MODEC, Inc.
Hirohiko Miyata, President & CEO
CodeTSE 6269
Contact
Ryo Suzuki
Executive Managing Officer
TEL+81-3-5290-1200

Notice Regarding Determination of Selling Price, etc.

MODEC, Inc. (the “Company”) hereby announces that, with respect to the secondary offering of its sharesof common stock that was resolved at a meeting of the board of directors held on May 14, 2024, the selling
price and other matters have been determined as set forth below.

1. Secondary Offering of Shares (Offering by Way of Purchase and Subscription by the Underwriters)(1) Selling Priceper share:
JPY 2,636(2)

Total Amount of the Selling Price

(3)
(4)

Underwriting Value
Total Amount of the Underwriting
Value

JPY 57,750,542,400
per share:

JPY 2,527.28
JPY 55,368,661,152(5) Delivery DateWednesday, May 29, 2024
Note: The underwriters shall purchase the shares at the underwriting value and offer them at theselling price.
2. Secondary Offering of Shares by Way of Over-allotment(1)
Number of Shares to be Offered(2)

Selling Price(3)

Total Amount of the Selling Price(4)

Delivery Date

3,286,200 shares
per share:

JPY 2,636

JPY 8,662,423,200
Wednesday, May 29, 2024

Note: This document is a press release to announce the determination of the selling price, etc. and has not been prepared for the purposeof soliciting investments whether in or outside Japan. Additionally, this press release does not constitute an offer of securities forsale, nor a solicitation of an offer to buy, in the United States or elsewhere. The securities referred to above have not been andwill not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”) and may not be offered orsold in the United States absent registration or an exemption from registration under the Securities Act. The securities referred toabove will not be publicly offered or sold in the United States.
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<References>
1. Calculation of Selling Price(1)
Calculation Reference Date and Price(2)

Wednesday, May 22, 2024

Discount Rate

JPY 2,718
3.02%

2. The Number of Shares to be Offered by Way of Purchase and Subscription by the Underwriters:
21,908,400 shares
Of the above shares, 5,038,800 shares will be sold to investors in overseas markets, such as
Europe and Asia (excluding the United States and Canada).
3. Greenshoe Option Exercise Period
From Wednesday, May 29, 2024 through Friday, June 21, 2024
4. Syndicate Cover Transaction Period
From Saturday, May 25, 2024 through Wednesday, June 19, 2024

Note: This document is a press release to announce the determination of the selling price, etc. and has not been prepared for the purposeof soliciting investments whether in or outside Japan. Additionally, this press release does not constitute an offer of securities for
sale, nor a solicitation of an offer to buy, in the United States or elsewhere. The securities referred to above have not been andwill not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”) and may not be offered orsold in the United States absent registration or an exemption from registration under the Securities Act. The securities referred toabove will not be publicly offered or sold in the United States.
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