Z : Announcement Regarding Acquisition and Cancellation of Treasury Stock by Z Holding Corporation’s Consolidated Subsidiary (ASKUL Corporation)

February 2, 2022

To whom it may concern

Z Holdings Corporation Kentaro Kawabe

President and Representative Director Co-CEO Stock Code: 4689

Announcement Regarding Acquisition and Cancellation of Treasury Stock by Z Holding Corporation's Consolidated Subsidiary (ASKUL Corporation)

Z Holdings Corporation (hereinafter the "Company") hereby announces that ASKUL Corporation (hereinafter "ASKUL), a consolidated subsidiary of the Company, passed a resolution on the acquisition of treasury stock and cancellation of all the treasury stock acquired, in its board of directors meeting held today.

Prior to this, the Company was approached by ASKUL regarding the acquisition of its stock, and the Company has informed ASKUL in advance that it would accept the sale of a portion of the ASKUL shares held by the Company, from the perspective of maximizing ASKUL's corporate value. The number of shares scheduled to be sold is calculated based on the assumption that the Company will maintain its voting rights ratio (44.9%) as of November 20, 2021.

For details, please refer to the announcement by ASKUL dated today, titled "Announcement Regarding Decision on Matters Concerning Acquisition and Cancellation of Treasury Stock."

The impact of this matter on the Company's consolidated business results will be minor.

Overview of ASKUL Corporation (Stock Code: 2678)

Headquarters	3-2-3 Toyosu, Koto-ku, Tokyo
Representative	Akira Yoshioka, President and Chief Executive Officer
Businesses	E-commerce business and logistics business
Capital stock	21,189 million yen (As of November 20, 2021)

Disclaimer

This is an English translation of the release. This translation is prepared and provided for the purpose of the reader's convenience. All readers are recommended to refer to the original version in Japanese of the release for complete information.