Notice of Convocation of the 29th Annual General Meeting of Shareholders

To Shareholders

Securities code: 3765

(Mailing date) March 11, 2026

President & CEO Kazuya Sakai GungHo Online Entertainment, Inc.

1. , Marunouchi, Chiyoda-ku, Tokyo

   Notice of Convocation of the 29th Annual General Meeting of Shareholders

   It gives us great pleasure to invite you to the 29th Annual General Meeting of Shareholders of GungHo Online Entertainment, Inc.

   If you will not be attending the meeting in person, you can instead exercise your voting rights via the Internet or

   by mail. Please read carefully the reference materials for the General Meeting of Shareholders, and exercise your voting rights by 6 p.m. on March 27, 2026 (Friday).

   1. Date and time March 30, 2026 (Monday) 10:00 a.m.

      (Doors open at 9:00 a.m.)

   2. Venue 3-13-1 Takanawa, Minato-ku, Tokyo

      Grand Prince Hotel Shin Takanawa “International Convention Center Pamir”

   3. Purpose

      Matters to be reported 1. The Business Report and the Consolidated Financial Statements for the 29th term (from January 1, 2025 to December 31, 2025), and the Audit Results of the Consolidated Financial Statements by the Accounting Auditor and the Board of Corporate Auditors.

      2. The Non-consolidated Financial Statements for the 29th term (from January 1, 2025 to December 31, 2025)

      Matters to be resolved

      Proposal 1 Election of Ten (10) Directors

      Proposal 2 Revision of the Amount of Performance-Linked Compensation (Monetary Compensation) for Directors

      Proposal 3 Determination of Remuneration for Granting Performance-Linked Restricted Stock

      Proposal 4 Proposal for acquisition of treasury shares from specific shareholders Proposal 5 Proposal for the appropriation of surplus

      Proposal 6 Proposal to amend the Articles of Incorporation with respect to the organization for determining dividends from surplus

      Proposal 7 Proposal to amend the Articles of Incorporation with respect to the appointment of the presiding chair of the Board of Directors

      Proposal 8 Proposal to amend the Articles of Incorporation with respect to the appointment of the chairman of the Board of Directors

      Proposal 9 Proposal to amend the Articles of Incorporation with respect to disclosure of sales by title Proposal 10 Proposal to partially amend the Articles of Incorporation (establishment of a third-party

      committee and publication of the investigation report)

      Proposal 11 Proposal to partially amend the Articles of Incorporation (disclosure of cost of capital) Proposal 12 Proposal to partially amend the Articles of Incorporation (individual disclosure of directors’

      remuneration)

      Proposal 13 Proposal to acquire treasury shares

   4. Items about the contents provided in electronic format

      In convening this General Meeting of Shareholders, GungHo Online Entertainment, Inc. (“the Company”) takes measures for providing information constituting the content of reference documents, etc., for the shareholders’ meeting in an electronic format. Please access the following website and review the information published on the Company’s website as “Notice of Convocation of the 29th Annual General Meeting of Shareholders,” and “The 29th Annual General Meeting of Shareholders and Other Contents Provided in Electronic Format (Contents Excluded from Documents to Be Sent).”

      The Company’s website https://www.gungho.co.jp/jp/en/ir/stock/meeting.html

      The content provided in electronic format is published on the above website and also available on the Tokyo Stock Exchange (TSE) website below.

      TSE website (Listed Company Search) https://www2.jpx.co.jp/tseHpFront/JJK020030Action.do

      On the above TSE website, please search for “GungHo Online Entertainment” or “Ticker code” (3765), select “Basic information” and proceed to “Documents for public inspection/PR information,” to find “Notice of General Shareholders Meeting” under “Filed information available for public inspection.”

   5. Predetermined terms of the convocation

      • If you exercise your voting rights multiple times both via the Internet and in writing (by mail) redundantly, the exercise via the Internet will be treated as the valid manifestation of intention. If you submit your vote multiple times via the Internet, only the last vote will be valid.

      • In the case where you choose to exercise your voting rights in writing (by mail), if there is no indication of your vote for or against a proposal on the Voting Rights Exercise Form, it will be treated as a vote “for” the Company’s proposals and “against” the Shareholders’ proposals.

◎ Please note that no souvenirs will be given at the General Meeting of Shareholders. Your kind understanding will be appreciated.

◎ At this General Meeting of Shareholders, regardless of whether or not a request for the issuance of documents has been made, a document stating the content provided in electronic format will be sent uniformly. The following items are not included in the document to be sent in accordance with laws and regulations and Article 16 of the Company’s Articles of Incorporation.

1. Principal business activities

2. Principal offices

3. Employees

4. Principal lenders

5. Other material matters related to the current state of the corporate group

6. Matters relating to share subscription rights of the Company

7. Accounting Auditor

8. System to secure the appropriateness of operations and an outline of the system operation

9. Consolidated statement of changes in equity

10. Notes to consolidated financial statements

11. Non-consolidated statement of changes in equity

12. Notes to non-consolidated financial statements

Therefore, the business reports, consolidated financial statements, and non-consolidated financial statements included in the documents are part of the subject documents audited by the accounting auditor and the corporate auditor when preparing the audit report.

◎ If there are changes to the items that are required to be filed electronically, the amendment to the items will be provided on the respective websites.

◎ The results of this meeting will be provided on the Company’s website.

◎ Please be advised that non-shareholders, such as proxies and persons accompanying shareholders, are not permitted to attend the meeting.

[When exercising the voting rights via the Internet]

Please access the Company’s Voting Rights Exercise Website (https://www.tosyodai54.net), obtain the Voting Code and Password provided in the Voting Rights Exercise Form sent together with this Convocation Notice, and indicate whether you are “for” or “against” each of the Proposals based on the directions provided on the website.

Before exercising your voting rights via the Internet, please read “Instructions on Exercise of Voting Rights via the Internet, etc.” provided in the following page.

[When exercising the voting rights by mail]

Please indicate whether you are “for” or “against” each of the Proposals on the Voting Rights Exercise Form that is attached to this Notice of Convocation, and return it to us by the deadline in order to exercise your voting rights stipulated above.

・When attending the meeting, please submit the enclosed Voting Rights Exercise Form at the reception.

・If the items to be electronically provided are amended, both the pre-amendment and post-amendment items, together with an announcement to that effect, will be provided on the Company’s website and on the TSE website mentioned above.

・Please be advised that non-shareholders such as proxies and persons accompanying shareholders are not permitted to attend the meeting.

[Internet method]

The exercise of voting rights via the Internet (PCs, mobile phones, and smartphones) may be possible only by using the voting website designated by the Company (https://www.web54.net).

1. Using a personal computer or mobile phone

   Please access the URL above, use the “Voting Code” and “Password” printed in the “Request” section of the Voting Rights Exercise Form, and exercise your voting rights following the guidance on the screen.

   If you use a mobile phone with a barcode scanning function, you can access the voting website by scanning the “QR for Portable Phones” printed on the Voting Rights Exercise Form.

2. Using a smartphone

   You can exercise your voting rights following the guidance on the screen for exercising voting rights by scanning the “Login QR Code for the Voting Website for Smartphones” printed in the “Request” section of the Voting Rights Exercise Form. In this case, you do not need to enter the “Voting Code” and “Password.”

   If you wish to change your vote after exercising your voting rights once, you will need to scan the QR Code again and enter the “Voting Code” and “Password.” (QR Code is a registered trademark of DENSO WAVE INCORPORATED.)

   (Warning)

   • Voting rights may not be exercised via the Internet depending on the Internet environment of shareholders.

   • Please note that shareholders are responsible for communication charges and connection fees to service providers for accessing the voting website.

[Inquiries regarding the exercise of voting rights via the Internet] Administrator of Shareholder Registry: Sumitomo Mitsui Trust Bank, Limited Phone: 0120-652-031 (toll-free number)

Reception hours: 9 AM to 9 PM

[Use of the electronic voting platform (To institutional investors)]

Institutional investors may use the “Electronic Voting Platform” operated by ICJ, Inc. as a method for exercising voting rights at this General Meeting of Shareholders.

Reference Materials for the General Meeting of Shareholders

Proposals and Reference Materials

Proposal 1: Election of Ten (10) Directors

The terms of office of all ten (10) Directors will expire at the close of this Annual General Meeting of Shareholders. Accordingly, the Company would like to propose ten (10) Directors to be elected.

The candidates for Directors are as follows: