On March 9, 2020, NuFlare Technology Inc. announced Notice of resolution of extraordinary general meeting of shareholders. Regarding Proposal No.1 about Reverse stock split: Since the approval of this matter was approved as originally proposed, 1,908,440 shares of the Company will be merged into one with April 1, 2020 as the effective date. Regarding Proposal No.

2 about Partial Amendment of Articles of Incorporation: Since this matter was approved and passed as originally proposed, the Articles of Incorporation will be amended to carry out the following matters, provided that the consolidation of shares becomes effective: (1) Since the total number of issuable shares will be reduced to 24, the rules for the total number of issuable shares will be changed. (2) Since the total number of issued shares will be 6 shares and it will not be necessary to determine the number of shares constituting one unit, the number of shares constituting one unit, which is currently 100 shares per unit, will be abolished and the provisions regarding this will be deleted. (3) Toshiba Electronic Devices & Storage Corporation will be the only shareholder of the Company, and it will no longer be necessary to set a record date for the Ordinary General Meeting of Shareholders.

Therefore, the record date for the Ordinary General Meeting of Shareholders will be abolished. In addition, Fractional equivalent shares reduced to less than 1 share due to reverse stock split Fractional equivalent shares reduced to less than 1 share due to the reverse stock split will be sold to Toshiba Device & Storage Co., Ltd. with the permission of the court. Shareholders will be provided with 11,900 yen, which is the same as the tender offer price in the tender offer, for each share of the Company held immediately before the consolidation of shares becomes effective, using the sale price as a source of funds.