Notice of Merger between Consolidated sub-subsidiaries (Effective date: October 1, 2022)

April 1,2022

Company Name

Takamatsu Construction Group Co., Ltd.

Representative Name Representative Director and President Hirotaka Takamatsu

（Securities Code 1762 First section of the Tokyo Stock Exchange）

Contact

Managing Officer, Group Integration Division Masahiro Shimabayashi

（TEL +81－3－3455－8108）

Notice of Merger between Consolidated sub-subsidiaries

（Effective date: October 1, 2022）

Takamatsu Construction Group Co., Ltd. hereby announce that our consolidated sub-subsidiaries, Takamatsu Estate Osaka Co., Ltd. (head office: Yodogawa-ku Osaka, President and Representative Director: Shinji Komatsu, referred to as "Takamatsu Estate Osaka") and Takamatsu Estate Tokyo Co., Ltd. (head office: Chiyoda-ku Tokyo, President and Representative Director: Hirofumi Fujita, referred to as "Takamatsu Estate Tokyo"), have entered into a merger agreement effective March 26, 2022, and have decided to merge.

Takamatsu Estate Osaka and Takamatsu Estate Tokyo are wholly owned subsidiaries of Takamatsu Corporation （ head office: Yodogawa-ku Osaka, President and Representative Director: Takatoshi Takamatsu）, which is a consolidated subsidiary of the Company, and are therefore consolidated sub-subsidiaries.

Notes

１． Main Purpose of the Merger

The merger aims to integrate the business strategies and optimize the management resources of Takamatsu Estate Osaka and Takamatsu Estate Tokyo. Specifically, the merger has the following three objectives

• (1) Strengthen sales force: To improve business performance by developing effective sales measures in both Tokyo and Osaka.

• (2) Promotion of human resource exchange and education: By integrating personnel systems, business processes, and IT systems, we can activate personnel transfers and personnel exchanges, and improve the quality of human resources training, thereby realizing more appropriate personnel allocation for future growth areas.

• (3) Improved efficiency in administrative and operations departments: To improve operational efficiency and specialization by consolidating overlapping functions

２． Summary of the Merger

• (1) Merger Schedule

  Date of resolution by the Board of Directors (the Company)：March 16 , 2022

  Extraordinary shareholders' meeting to approve the merger agreement (the merging companies)：

  March 17, 2022

  Merger agreement execution date：March 26, 2022 Effective date of merger：October 1, 2022（schedule）

• (2) Method of merger

  An absorption-type merger in which Takamatsu Estate Osaka is the surviving company and Takamatsu Estate Tokyo is the absorbed company.

• (3) Merger consideration

  There will be no issuance of shares or allotment of money, etc.

• (4) Treatment of stock acquisition rights and bonds with stock acquisition rights in connection with the merger

  Not applicable.

３． Summary of companies involved in the merger

４． Post-Merger Status

５． Post-Merger Outlook

Since this merger is a merger between consolidated sub-subsidiaries of the Company, the impact of the merger on the Company's consolidated financial results is not material.