June 20, 2024

To whom it may concern:
Company Name: I'rom Group Co., Ltd.
Representative: Toyotaka Mori, President and RepresentativeDirector(Code: 2372 Prime Market of the Tokyo Stock Exchange)
Contact:
Shuichi Kojima, Executive Officer
Responsible for CEO Office Center(Tel: +81 3-3264-3148)
Company Name: BXJB II Holding KK
Representative: Atsuhiko Sakamoto, Representative Director

Notice of Progress toward Implementation of Tender Offer
For Shares of I’rom Group Co., Ltd. (Code 2372) by BXJB II Holding KK
We hereby inform you that, today, BXJB II Holding KK issued the press release attached hereto, which is titled “Noticeof Progress toward Implementation of Tender Offer For Shares of I’rom Group Co., Ltd. (Code 2372)”.
END(Attachment)“Notice of Progress toward Implementation of Tender Offer For Shares of I’rom Group Co., Ltd. (Code 2372)” dated
June 20, 2024

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[Translation]
June 20, 2024
To whom it may concern:
Company Name:
Representative:

BXJB II Holding KK
Atsuhiko Sakamoto, Representative Director

Notice of Progress toward Implementation of Tender Offer
For Shares of I’rom Group Co., Ltd. (Code 2372)
BJXB II Holding KK (the “Tender Offeror” or “we”) announced in its “Notice Regarding Planned
Commencement of Tender Offer For Shares of I’rom Group Co., Ltd. (Code: 2372)” dated May 13, 2024, that it
intends to commence a tender offer (the “Tender Offer”) for the shares of I’rom Group Co., Ltd., promptly after thecertain conditions precedent are satisfied (or waived at the discretion of the Tender Offeror), including the completionof the obtaining of approvals, etc. under Australian competition law (the “Clearance”), and that the Tender Offeroraims to commence the Tender Offer on middle June, 2024.
The Tender Offeror is in the process of conducting the necessary procedures and measures under the Australiancompetition law for the purpose of the Tender Offer. However, as of today, the process of obtaining the Clearance has
not been completed. The Tender Offeror expects to complete the procedures and actions under the Australiancompetition law and to commence the Tender Offer by the end of November 2024, and we will strive for prompt
conclusion of the procedures and actions. We will promptly make an announcement if the conditions for thecommencement of the Tender Offer are satisfied and the Tender Offer commences, or if there is a material change inthe expected timing of the commencement of the Tender Offer described above.
END-2-【Restrictions on Solicitation】
This press release is a press release to announce the Tender Offer to the public and has not been prepared for the purpose ofsoliciting sales. When applying for the offer to sell, please make sure to read the Tender Offer Explanatory Statement regarding
the Tender Offer and apply for the offer at your own discretion. This press release does not constitute or form part of any offer
or invitation to sell or solicitation of any offer to buy any securities, nor shall this press release (or any part thereof) or the factof its distribution form the basis of any agreement relating to the Tender Offer, nor may it be relied upon in entering into anysuch agreement.
【U.S. Regulations】
・The Tender Offer is for the acquisition of the target company shares. The Tender Offer will be conducted in accordance withthe procedures and information disclosure standards prescribed by the Financial Instruments and Exchange Act of Japan,
which may differ from the procedures and information disclosure standards in the United States. In particular, Section 13(e)and Section 14(d) of the U.S. Securities Exchange Act of 1934 (as amended, the same applies hereunder) and the rules
prescribed thereunder do not apply to the Tender Offer, and the Tender Offer does not conform to those procedures andstandards. The financial information included in this press release was prepared based on the Japanese Accounting Standards,
which may differ significantly from those of other countries, including the United States. As the Tender Offeror and the Target
Company are incorporated outside of the United States, and all or some of its executives are not residents of the United States,
it may be challenging to exercise rights or requests based on securities-related laws of the United States. Also, courts of theUnited States may be unable to take legal action against entities incorporated outside of the United States or their executives
based on violation of securities-related laws of the United States. Furthermore, entities incorporated outside of the United States,
their subsidiaries and affiliates and their executives may fall outside of the jurisdiction of the courts of the United States.
・The financial advisors to the Tender Offeror and the Target Company, as well as the tender offer agent (including their relatedparties) may engage in purchases of target company shares, not through the Tender Offer, for their own account or for theircustomers’ accounts or may engage in acts for such purchases to the extent undertaken in the ordinary course of theirbusinesses and to the extent permitted under the Financial Instruments and Exchange Act of Japan and other applicable laws
and regulations, in accordance with the requirements of Rule 14e-5(b) of the U.S. Securities Exchange Act of 1934, during thetender offer period. Such purchases may be conducted at a market price through a market transaction, or at a price determinedthrough negotiations off-market. In the event that information regarding such purchases is disclosed in Japan, such information
will also be disclosed on the English website of the financial advisor, the Target Company, or the tender offer agent conducting
such purchases, or will otherwise be made publicly available.
・Unless otherwise specified, all procedures relating to the Tender Offer are to be conducted entirely in Japanese. All or a partof the documentation relating to the Tender Offer will be prepared in the English language; however, if there is any
inconsistency between the English-language documentation and the Japanese-language documentation, the Japaneselanguage documentation will prevail.
・This press release includes statements that fall under “forward-looking statements” as defined in Section 27A of the U.S.
Securities Act of 1933 (as amended) and Section 21E of the U.S. Securities Exchange Act of 1934. Due to known andunknown risks and uncertainties, actual results may differ significantly from the statements that are implicitly or explicitly
forward-looking. The Tender Offeror and its affiliates do not guarantee for such implicit and explicit forward-looking
statements to materialize. The “forward-looking statements” in this press release were prepared based on information obtainedby the Tender Offeror as of the date hereof, and unless required by law, the Tender Offeror and its affiliates are not obligated toamend or revise such forward-looking statements.
・In the event a shareholder’s right to demand the purchase of fractional shares of less than one unit is exercised in accordancewith the Companies Act, the Target Company may purchase its treasury shares during the tender offer period in accordancewith the procedures set forth in the laws and regulations.
【Other Countries】
Certain countries or regions may impose legal restrictions on the announcement, publication or distribution of this press release.
In such cases, please be aware of and comply with those restrictions. This shall not constitute a solicitation of an offer topurchase or an offer to sell shares in connection with the Tender Offer, and shall be deemed to be merely the distribution ofmaterials as information.

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