Transcosmos : Announcement Regarding Results of Acceptance of Tender Offer for Shares in U.S. Company PFSweb, Inc. Commenced by GXO Logistics, Inc., and Recording of Extraordinary Profits Associated with the Transaction

Note: This English translation is for reference purposes only. In the event of any discrepancy between the Japanese original and

this English translation, the Japanese original shall prevail.

October 24, 2023

To Whom It May Concern,

Name of Company: transcosmos inc.

Representatives: Masaaki Muta, Representative Director, Co-president Takeshi Kamiya, Representative Director, Co-president (Code No.9715, Tokyo Stock Exchange, Prime Market)

Contact: Makoto Noguchi Corporate Senior Officer,

Accounting & Finance Division Manager

Main Phone Number: +81-50-1751-7700

Announcement Regarding Results of Acceptance of Tender Offer for Shares in U.S. Company

PFSweb, Inc. Commenced by GXO Logistics, Inc., and

Recording of Extraordinary Profits Associated with the Transaction

As stated in the "Announcement Regarding Application or Tender Offer for Shares in U.S. Company PFSweb, Inc. Commenced by GXO Logistics, Inc., and Expected Recording of Extraordinary Profits Associated with the Transaction" dated October 10, 2023, transcosmos (the Company) has accepted the tender offer for all outstanding shares of PFSweb, Inc. (Investment Securities, NASDAQ: PFSW) commenced by GXO Logistics, Inc. on September 21, 2023, under the U.S. securities laws (the Tender Offer), and has tendered all the shares it holds in PFSW (16.2% of all outstanding shares of PFSW) through the Tender Offer. The Company hereby announces that on October 24, 2023, the Company received a report from PFSQ that the Tender Offer was completed on October 20, 2023 (U.S. time), the details of which are described below:

Details

1. Result of acceptance for the Tender Offer

The tender offeror has purchased all 3,678,779 shares that the Company holds in PFSW.

2. Purchase price of the Tender Offer

$7.50 (USD) per share Gross proceeds from the sale of shares ¥4.1 billion

3. Period of the Tender Offer

From September 21, 2023 to October 20, 2023 (U.S. time)

4. Impact on the Company's financial results

As a result of the completion of the Tender Offer, the Company will record extraordinary profits of ¥2.9 billion as gain on sale of investment securities on both non-consolidated and consolidated financial reports for the third quarter of the fiscal year ending March 31, 2024.