August 21, 2023
To AllCompany Name Frontier Management Inc.
Representative Shoichiro Onishi,
Co-President & Executive Officer(TSE First Section Code No. 7038)
Contact
Hiroaki Hamada,
Executive Officer, Head of Company
Planning and Administration Department(TEL．+81-3-6862-8335)(Progress of Disclosure Items)
Notice of capital and business alliance with M&A advisory company in France and issuance of new shares throughthird-party allotment
As announced on July 14, 2023, Frontier Management Inc. (hereinafter "we") has decided on the payment date forthe solicitation of the Company's shares to be issued through third-party allotment. We hereby announce as follows.
II. Offering of Our Shares Issued through Third-Party Allotment
1.Overview of the offering※Underlines are drawn on the changes.
Before change (disclosed on July 14, 2023)
August 1, 2023 to August 31, 2023
(1)

Payment dateWith regard to the third party allotment, the above-mentioned payment period
has been resolved as the payment period under the Companies Act, and suchpayment period has been stated as the payment date.

(2)

Number of New Shares

223,900 shares of our common stock(3)Issue price

1,374 yen per share(4)

Amount of proceeds

307,638,600 yen

Offering or Allotment

Using the method of third-party allotment.

Method (Assignee)(Antema SAS)

(5)
(6)

Other

The foregoing items shall be subject to the entry into force of the Securities
Registration Statement under the Financial Instruments and Exchange Law.

After the change (disclosed on August 21, 2023)(1)

Payment dateAugust 31, 2023

(2)

Number of New Shares

223,900 shares of our common stock(3)

Issue price

1,374 yen per share(4)

Amount of proceeds

307,638,600 yen

Offering or Allotment

Using the method of third-party allotment.

Method (Assignee)(Antema SAS)

(5)
(6)

Other

The foregoing items shall be subject to the entry into force of the Securities
Registration Statement under the Financial Instruments and Exchange Law.

1

11.Publication guidelines※Underlines are drawn on the changes.
Before change (disclosed on July 14, 2023)(1)

Number of New Shares

223,900 shares of our common stock(2)

Issue price

1,374 yen per share(3)

Amount of proceeds

307,638,600 yen

(4)
(5)
(6)

Amounts designated asstated capital
Total amount designatedas stated capital
Offering or Allotment
Method687 yen per share
153,819,300 yen
Through third-party allotment(7)

Planned allotment

Antema SAS(8)Application dateAugust 1, 2023 to August 31, 2023

(9)

Payment dateAugust 1, 2023 to August 31, 2023

(10)

Other

The aforementioned items shall be subject to the effectiveness of the securities
registration statement filed under the Financial Instruments and Exchange Act.

After the change (disclosed on August 21, 2023)(1)

Number of New Shares

223,900 shares of our common stock(2)

Issue price

1,374 yen per share(3)

Amount of proceeds

307,638,600 yen

(4)
(5)
(6)

Amounts designated asstated capital
Total amount designatedas stated capital
Offering or Allotment
Method687 yen per share
153,819,300 yen
Through third-party allotment(7)

Planned allotment

Antema SAS(8)

Application dateAugust 1, 2023 to August 31, 2023

(9)

Payment dateAugust 31, 2023

(10)

OtherThe aforementioned items shall be subject to the effectiveness of the securities
registration statement filed under the Financial Instruments and Exchange Act.

2