Gala Incorporated : (Progress of Disclosure Items) Notice Regarding Exercise of Stock Acquisition Rights

NOTE: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

	May 30, 2024
Company Name	Gala Inc.
Representative's name	Hyunsu Kim, Representative
	Director and Group CEO
	(Code: 4777, Standard Market)
Contact	Yuki Okamoto, Director and CFO

(Progress of Disclosure Items) Notice Regarding Exercise of Stock Acquisition Rights

We are pleased to announce that with regard to the 7th series of stock acquisition rights (hereinafter referred to as the "Stock Acquisition Rights") to be issued by third-party allotment, as resolved at the Board of Directors meeting held on May 13, 2022, all exercise of the Stock Acquisition Rights was completed as of May 29, 2024, pursuant to the Total Number of Stock Acquisition Rights Subscription Agreement concluded with the allottees, Megazone Cloud Corporation and Mr. Satoru Kikugawa.

			Record
1. Content of exercise
(1)	Name of the stock acquisition rights	Gala Inc. 7th Stock Acquisition Rights
(2)	E x e r c i s e	d a t e	May 29, 2024
(3)	The person who exercised the	Megazone Cloud Corporation	14,946 pieces
right and		Satoru Kikugawa	9,511 pieces
	Number of exercises
(4)	Number of shares to be issued	Megazone Cloud Corporation	1,494,600 shares
Satoru Kikugawa	951,100 shares
(5)	E x e r c i s e	p r i c e	184 yen per share
(6)	To t al ex er ci se pr i c e	Megazone Cloud Corporation	275,006,400 yen
Satoru Kikugawa	175,002,400 yen
(7)	The Stock Acquisition Rights	29,892 units
	Nu m b er o f i s su e s
(8)	The Stock Acquisition Rights	Megazone Cloud Corporation	-
	Number of unexercised shares	Satoru Kikugawa (※)	-
(9)	Stock Acquisition Rights	Megazone Cloud Corporation	32.84 %
	Voting rights ratio after	Satoru Kikugawa	20.21 %
exercise

• Mr. Satoru Kikugawa exercised 5,435 of the stock acquisition rights on March 4, 2024, and completed the exercise of all of the stock acquisition rights on May 29, 2024.

2. Changes in the total number of issued shares and capital amount due to the exercise of the stock acquisition rights

① Total number of issued shares	25,579,200 shares	(Capital amount before exercise: 4,264,338,189 yen)
before exercise
② Number of shares issued	2,445,700 shares	(Increase in capital: 227,144,388 yen)
through exercise
③Total number of shares issued	28,024,900 shares	(Capital amount after exercise: 4,491,482,577 yen)
after exercise

For details regarding these stock acquisition rights, please refer to the "Notice regarding the issuance of shares through third- party allotment and the 7th series of stock acquisition rights" dated May 13, 2022.