【Debt Waiver】Extract Board resolution of Impam Seal Corporation Ltd._29th March 2024

CERTIFIED TRUE COPY OF THE RESOLUTION PASSED IN THE MEETING OF THE BOARD OF DIRECTORS OF IMPAM SEAL CORPORATION LTD. ON 29TH MARCH 2024 AT 451-12, KURATA, NAKA KU, OKAYAMA CITY, OKAYAMA PREFECTURE, JAPAN. THE REGISTERED OFFICE OF THE COMPANY AT WHICH PROPER QUORUM WAS PRESENT. The meeting facilitator informed that, the company had initially invested in Impam Bangladesh Ltd. with the intention of contributing to the economic development of Bangladesh. However, due to the prolonged global COVID-19 pandemic, the local business has been unable to operate stably and has not yet reached a self-sustaining stage. In these circumstances, the Board has decided to discontinue its business operations in Bangladesh and withdraw from Bangladesh market. The meeting facilitator also informed that, Impam Bangladesh Ltd. does not have the financial capacity to repay the funds invested. Therefore, the board has decided to waive the entire loan amount of JPY 27 million, equivalent to BDT 19,985,463.00. The meeting facilitator added that, During this process, Mr. Md. Alamgir Kabir, who had been involved in the business since its inception, expressed his intention to continue operations independently. In response, the company agreed to transfer its shares to him. The board discussed the matter thoroughly and resolved the issue unanimously: “RESOLVED THAT; the board confirmed to discontinue its business operations in Bangladesh as well as decided to waive the entire loan amount of JPY 27 million, equivalent to BDT 19,985,463.00. “RESOLVED FURTHER THAT; the board confirmed the Transfer of 6,963 (Six Thousand Nine Hundred Sixty-Three) ordinary shares of BDT 100.00 each of Impam Bangladesh Ltd to Mr. Md. Alamgir Kabir. And the decision has been accepted and approved.” A copy of this resolution certified to be a true copy by the Director/Company Secretary be submitted to the authorities concerned for their records and necessary action.” For and on behalf of, Impam Seal Corporation Ltd. √ ____________________ Daiki Iwata Managing Director Impam Seal Corporation Ltd.