The transactions pursuant to the share exchange described in this document involve securities of aJapanese company. The share exchange is subject to disclosure requirements of Japan that aredifferent from those of the United States. Financial information included in this document, if any, wasexcerpted from financial statements prepared in accordance with foreign accounting standards that
may not be comparable to the financial statements of United States companies.
It may be difficult for you to enforce your rights and any claim you may have arising under the U.S.
federal securities laws, since the issuer is located in Japan and some or all of its officers anddirectors reside outside of the United States. You may not be able to sue a Japanese company or
its officers or directors in a Japanese court for violations of the U.S. securities laws. It may bedifficult to compel a Japanese company and its affiliates to subject themselves to a U.S. court’sjudgment. You should be aware that the issuer may purchase securities otherwise than under theshare exchange, such as in the open market or through privately negotiated purchases.
This document has been translated from the Japanese-language original for reference purposes
only. In the event of any conflict or discrepancy between this document and the Japanese-language
original, the Japanese-language original shall prevail in all respects.

Extraordinary Meeting of Shareholders
Supplementary Documents

To our shareholders with Voting Rights:

Business Integration withThe Hachijuni Bank, Ltd.

THE NAGANO BANK, LTD.
Securities Code: 8521

“From competition to co-creation”
Table of Contents
1. Outline of the Business Integration
2. Background of the Business Integration
3. Basic Principle and Purpose of the Business Integration4. Expected Synergies from the Business Integration
5. Business Integration Q&A1

1. Outline of the Business Integration
Hachijuni Bank and Nagano Bank (the “Banks”) will integrate business in June 2023 and promote
discussions and reviews towards early merger after the business integration.
◆ Format‌and Schedule of theBusiness Integration

・‌The Banks will execute the businessintegration (become a corporate group) on
June 1, 2023, through a share exchangewith Hachijuni Bank as the wholly-owningparent company and Nagano Bank as thewholly-owned subsidiary (Note).
・‌The Banks will promote discussions andreviews with the basic policy to merge
promptly after the business integration.
(Note) Subject to obtaining the approval by theMeeting of the General Shareholders of Nagano
Bank and obtaining the necessary permits andapprovals by relevant authorities for implementing
the Business Integration.

June 2023: Business integration(planned)

Early merger after the businessintegration (planned)

TheHachijuni
Bank, Ltd.
The Nagano
Bank, Ltd.

Surviving Bank
after Merger

The Hachijuni
Bank, Ltd.
Subsidiaries(12)

Subsidiaries(14)

The Nagano
Bank, Ltd.
Subsidiaries(2)

January 20, 2023: ‌Execution of the Share Exchange Agreement andBusiness Integration Agreement

March 24, 2023 (planned) : ‌Extraordinary Meeting of the Shareholders ofNagano BankMay 30, 2023 (planned): Delisting of Nagano Bank

June 1, 2023 (planned): ‌Business integration (become wholly-ownedparent and subsidiary)◆ Share‌Exchange Ratio
For each share of common stock ofNagano Bank, 2.54 shares of common
stock of Hachijuni Bank will be allotted(Note).

Share ExchangeRatio

The Hachijuni
Bank, Ltd.

The Nagano
Bank, Ltd.

1

2.54(Note) Please refer to the timely disclosure materialsubmitted to the Tokyo Stock Exchange for details.

22. Background of the Business Integration
As the financial and economic environment surrounding the Banks is expected to become
increasingly difficult due to factors including the prolonged low-interest rate environment, theBanks are expected to provide detailed functions and services, expand to new business fields,
and develop technologies suited during and after the COVID-19 pandemic and for digitalization.
Accordingly, the role of the Banks in the regional community will become increasingly important.
The Banks concluded that the best option for contributing to the advancement of stakeholders
is to join forces under the shared mission of regional development to build a sound managementfoundation, reinforce financial intermediation functions, and establish a sustainable business model.
Therefore, the Banks agreed to execute the business integration.

Management Philosophy of the BanksThe Hachijuni Bank, Ltd.
Stick firmly to sound banking
principles, thereby contributing tothe development of the regional
community
The Nagano Bank, Ltd.
Do our best for the happiness andprosperity of our customers,
shareholders, and employees

Change in Environment
Change in demographics from thedecrease in birth rate and an aging
population
Diversified needs of customers dueto the development of digitaltechnologies and decarbonization
Contraction of interest rate spread
between deposits and loans causedby the prolonged low-interest rateenvironment
Change in a competitiveenvironment with entry from otherindustries

Expectations for the Banks
Stable management
Provision of detailed functions andservices
Expansion to new business fields
Corresponding to thetransformation of the social
structure during and after theCOVID-19 pandemic
Support for GX and DX initiatives

The Banks with a common mission are to join forces to become anew banking group that can grow with the regional community33. Basic Principle and Purpose of the Business Integration
The Banks will promote Business Integration under the assumption of equal footing, realize quick
integration, and combine the expertise, relationships, and human assets of the Banks to transform
into a bank that can grow with the region by providing better value to customers, the regionalcommunity, shareholders, employees, etc.

Prompt integration of the Banks: “From competition to co-creation”

×Know-how

Relationships

Humanresources×

Provide better value

Customers

Community

Shareholders

Employees,etc.

44. Expected Synergies from the Business Integration (1)1 Utilization of human capital and transformation of corporate culture
The Banks will transform their corporate culture to respond to the change of times, withmaximum utilization of human capital, the driver of our growth and development.

Utilization of human capital and transformation of corporate culture
Respond to changing times
Training
Optimalresource
allocation

Early integration
Resource
exchange

Joint
events5

Joint
training

Diversity&Inclusion

Corporate culturethat encourages
taking on challenges

CareerdevelopmentAttracting
talentInitiatives to integrate humanresources
Reallocation to growth areas
Workstyle reform / promotionof participation by diverse
human resources
Strengthening recruitment of
new and experienced hires byenhancing the brandSupport for autonomous
career development
External training/secondment
to specialist areas
Human resource operation
with consideration to careerand life planning

Growth andsatisfaction
Grow with theregional community

Become a new banking group

4. Expected Synergies from the Business Integration (2)2 Enhancement of financial intermediation functions and financial services
By combining the Banks’ expertise, data, and networks and utilizing the group functions,
we will strengthen support for core business and promote the development and growth ofregional industries. In addition, the Banks will improve the convenience of various services
by expanding digital channels and services and providing services corresponding to theircustomers’ needs.
The Hachijuni Bank, Ltd.

Utilize groupfunctionsUtilize expertiseand networks ofthe Banks

The Nagano Bank, Ltd.

Provide financial
services

Customers
Regional
community

Corporate customers and business owners
Provide financial services that contribute to regional industry vitalization
Share management issues and support resolution/growth
Support business succession and M&A, etc., according to the businesslifecycle

Provide diverse
consulting
products

Provideservices in new
business fields

Retail customers
Support asset formulation suited to the life stage
Support succession of important assets
Provide lifestyle-supporting services, etc.

Development and growth of the regional community
Support resolution of issues for the regional community, including with support for DX, GX, industry development, and support
for entrepreneurship
Resolve issues together with regional stakeholders in a comprehensive manner and co-create, etc.

64. Expected Synergies from the Business Integration (3)3 Enhancing expansion of business fields
The Banks will contribute to the further development of regional industries and theimprovement of residents’ quality of life by consolidating our human assets, data, andexpertise to enhance comprehensive financial services, while also expanding new businessfields that resolve regional issues.

Develop new business
Diversify business

ExpandbusinessfieldsTotal financial service
Deepen lifestylesupporting business

Regional trading companies

Electricity business
Management support
DX/GX consulting
Equity financeUtilize human capital
Provide fundamental services

Business succession / M&A

Life design support

Digital marketing

7

Asset management

Utilization of branches, etc.

4. Expected Synergies from the Business Integration (4)4 Strengthening business foundation
The Banks will build a sound business foundation that will enable continued contribution
to the regional community by providing stable functions and services. This will be achieved
through the promotion of improved business efficiency with the consolidation and eliminationof redundant branches, etc., streamlining and integration of headquarter organizations, andsharing of systems and administration, etc.

Optimize branch network
Maintainconvenience
Optimizebranchnetwork

Promote digitalization

Share administration and IT

Consolidate headquarters
and group functions

Integrate coresystems/subsystems

Integrate
headquarterorganizations

Sharedadministrative
procedures

Consolidate
group functions

Improve business productivity and raise efficiency oforganizational operation

Allocate generated management resources to growth areas

Build sound management foundation that can continue contribution to regional community8

5. Business Integration Q&A (1)Q1 What is a share exchange?
A1

Share exchange refers to organizational restructuring by exchanging all of the issued and outstanding shares ofCompany A with shares issued by Company B by which Company A becomes 100% subsidiary of Company B.
In our case, Nagano Bank is Company A, and Hachijuni Bank is Company B. The “share exchange ratio” refers
to the ratio applied to the exchange of shares. In our case, 2.54 shares of common stock of Hachijuni Bank are
to be allocated to each share of common stock of Nagano Bank, as stated on page 2 of this document.

Q2 What happens to the shares of Nagano Bank held by the shareholders of Nagano Bank?
A2For example, a shareholder holding 100 shares of common stock of Nagano Bank will receive 254 (100 x 2.54)
shares of common stock of Hachijuni Bank.
As a result of the business integration with the share exchange, Nagano Bank will become a wholly-owned
subsidiary of Hachijuni Bank as of the effective date of the share exchange on June 1, 2023. Consequently,Nagano Bank will be delisted as of May 30, 2023. However, common stock of Hachijuni Bank will be allottedto the shareholders of Nagano Bank on June 1, 2023, according to the share exchange ratio. This will allow
shareholders of Nagano Bank to continue trading the relevant shares on the Tokyo Stock Exchange, whereHachijuni Bank is listed. Shareholders of Nagano Bank are not required to take any action concerning theallocation of shares. The common stocks of Nagano Bank can be traded until May 29, 2023, the day before thedelisting date (May 30, 2023).

Q3 What happens to the FY2022 dividends of Nagano Bank?
A3We plan to pay a maximum of 25 yen per share dividend of surplus to shareholders of Nagano Bank as ofMarch 31, 2023.

Q4 What happens to the shareholder benefit program?
A4

9Nagano Bank’s shareholder benefit program with the vesting date of March 31, 2023, is to be offered on thesame terms as the previous fiscal year.

5. Business Integration Q&A (2)Q5 What should I do if I receive shares constituting less than one unit as a result of the share exchange?
A5Shareholders of Nagano Bank who receive shares constituting less than one unit (100 shares) of Hachijuni Bankin the share exchange may not sell such shares constituting less than one unit on the Tokyo Stock Exchange or
any other financial instruments exchange.
Shareholders who will own such shares constituting less than one unit may request Hachijuni Bank topurchase the shares constituting less than one unit pursuant to the provisions of Article 192, Paragraph 1 ofthe Companies Act. In addition, such shareholders may request Hachijuni Bank to sell the number of shares
needed to constitute one unit together with the shares constituting less than one unit held by the shareholder
pursuant to the provisions of Article 194, Paragraph 1 of the Companies Act and the Articles of Incorporation ofHachijuni Bank, unless Hachijuni Bank does not have the number of treasury stock referred to in the request ofsale.
Please contact the securities company where you hold an account for detailed procedures.

Q6 What should I do if I receive fractional shares as a result of the share exchange?
A6

We will pay the amount corresponding to the fractional shares.
In case fractional shares are included in the number of shares of Hachijuni Bank to be allotted in the shareexchange, Hachijuni Bank shall pay monies in the amount corresponding to such factional share to the relevant
shareholders pursuant to the provisions of Article 234 of the Companies Act and other applicable laws andregulations.

Q7 Will existing deposits and loans be affected?
A7

Our customers’ deposits and loans will not be affected by the Business Integration. Transactions can becontinued with Nagano Bank or Hachijuni Bank, where the account is held. In addition, the Banks will continue
discussions and reviews to ensure that the planned merger will not inconvenience the customers.

10

5. Business Integration Q&A (3)Contact Information
1. Shareholders‌are requested to contact their respective securities companies for confirmationof the number of shares held and for various procedures, including change of address,inheritance, and designation of bank account for the transfer of dividends.
2. Shareholders‌are requested to contact the administrator of the shareholder registry below forinquiries regarding shares other than the above, receipt of unclaimed dividends, etc.
♦ Contact Information(Nagano Bank shares)

For questions regarding theadministration of Nagano Bank
shares, please contact thefollowing:

The administrator of shareholder registry for Nagano Bank will be changed to the Mitsubishi
UFJ Trust and Banking Corporation from March 25, 2023.

Until March 24, 2023
Stock Transfer Agency Department,
Mizuho Trust & Banking Co., Ltd.

Securities Agency Division, Mitsubishi UFJ
Trust and Banking Corporation

Tel: 0120–288–324

Tel: 0120–232–711 (Tokyo)(toll–free within Japan only)(Hours: 9:00 am to 5:00 pm (JST), except
Saturdays, Sundays and Japanesenational holidays)

11

From March 25, 2023

(toll–free within Japan only)

Tel: 0120-094-777 (Osaka)(toll–free within Japan only)(Hours: 9:00 am to 5:00 pm (JST), except
Saturdays, Sundays and Japanese nationalholidays)