LY : Notice of Ordinary General Meeting of the Shareholders 2026

Securities Code: 4689

June 4, 2026 (Commencement of measures for electronic provision: May 28, 2026)

Takeshi Idezawa President and Representative Director, CEO

LY Corporation 1-3 Kioicho, Chiyoda-ku, Tokyo, Japan

This is to inform you that the 31st Ordinary General Meeting of the Shareholders of LY Corporation (the "Company") will be held as described below.

In convening this General Meeting of the Shareholders, the Company has taken measures to electronically provide information on its reference material for the General Meeting of the Shareholders, business report, consolidated financial statements and non-consolidated financial statements (matters regarding measures for electronic provision), which are available on the following internet websites under "Notice of the 31st Ordinary General Meeting of the Shareholders."

Company website: https://www.lycorp.co.jp/en/ir/stock/agm.html (Some documents are available only in Japanese)

Tokyo Stock Exchange (TSE) website (TSE-listed company information service): https://www2.jpx.co.jp/tseHpFront/JJK020030Action.do

(Some documents are available only in Japanese)

Note: On the TSE website, please enter and search for the issue name (company name) or securities code (4689), then select "Basic information" and "Documents for public inspection/PR information" in that order to confirm the information.

For this General Meeting of the Shareholders, "Online attendance" will be available on the day of the meeting for you to exercise your voting rights and to submit questions, etc. while watching the live webcast on our dedicated website. If you are not attending the meeting on the day of the meeting, you may also exercise your voting rights in writing or via the internet in advance. If you wish to exercise your voting rights in advance, please refer to the instructions on page 4.*

Thank you for your understanding and cooperation on this matter.

Details of the Meeting

1. Date: 1:00 p.m. (JST), Friday, June 19, 2026
2. Venue: Belle Salle Takadanobaba

   8-2 Okubo 3-chome, Shinjuku-ku, Tokyo, Japan

   You are invited to attend this meeting either by "Online attendance" or "On-site attendance." Please refer to the information on pages 6 and 7* for details on how to attend this meeting and procedures for exercising your voting rights.

3. Subject Matters of the Meeting:

   Matters to be reported:

   1. Business Report, Consolidated Financial Statements, and audit reports from the accounting auditor and the Audit and Supervisory Committee on the Consolidated Financial Statements for the 31st fiscal year (April 1, 2025 through March 31, 2026)

   2. Non-consolidated Financial Statements for the 31st fiscal year (April 1, 2025 through March 31, 2026)

Matters to be resolved:

Proposal 1: Election of Three (3) Directors (Excluding Those Serving on the Audit and Supervisory Committee)

Proposal 2: Election of Two (2) Directors Serving on the Audit and Supervisory Committee Proposal 3: Election of One (1) Substitute Director Serving on the Audit and Supervisory

Committee

Proposal 4: Partial Revision to the Stock-Based Remuneration Plan for Directors (Excluding Those Serving on the Audit and Supervisory Committee)

Notes:

• In accordance with applicable laws and regulations and provisions of the Company's Articles of Incorporation, out of the matters regarding measures for electronic provision, the following matters are not included in the documents sent to shareholders who have requested the delivery of documents in paper-based format. Documents subject to auditing, including the matters stated below, have been audited by the accounting auditor and the Audit and Supervisory Committee.

  • Business report: Matters on the Company's Stock Acquisition Rights, Matters on the Accounting Auditor, Overview of the Systems to Ensure Appropriate Business Operations and Their Operation Status

  • Consolidated financial statements: Consolidated Statements of Changes in Equity, Notes to the Consolidated Financial Statements

  • Non-consolidated financial statements: Balance Sheet, Statement of Profit or Loss, Statement of Changes in Shareholders' Equity, Notes to the Non-consolidated Financial Statements

• For shareholders who have not requested the delivery of documents in paper-based format, a written document containing excerpts from the business report, etc., is sent in addition to

  matters stipulated by laws and regulations and reference material for the General Meeting of Shareholders.

• If there is a need to modify the matters regarding measures for electronic provision, the modifications will be posted on the websites of the Company and TSE listed on page 1.

• If any problems arise before or during the meeting, or if there are any changes in the operation of this meeting, notifications will be posted on the Company's website listed on page 1.

*Please refer to the relevant pages in the Japanese document.

The terms of office of all two (2) incumbent directors (excluding those serving on the Audit and Supervisory Committee) will expire at the conclusion of this General Meeting of the Shareholders. Therefore, the Company proposes to elect three (3) directors (excluding those serving on the Audit and Supervisory Committee), including new director candidates. If this Proposal and Proposal 2 are approved as proposed, the Company's Board of Directors will consist of four (4) independent outside directors out of a total of six (6) directors (including those serving on the Audit and Supervisory Committee), resulting in a majority (67%) of the Board of Directors being independent outside directors.

In order to ensure the fairness and transparency of the nomination of directors, this proposal was resolved by the Board of Directors after consulting the Nominating and Remuneration Committee, chaired by an independent outside director and the majority of whose members are independent outside directors.

The candidates for directors (excluding those serving on the Audit and Supervisory Committee) are as follows.

April 2007: CEO, livedoor Co., Ltd. (currently NHN Techorus Corp.) January 2012: Director, General Manager of Web Service Division, NHN Japan

Corporation (Changed trade name to LINE Corporation in April 2013) April 2014: Representative Director, COO, LINE Corporation (currently A Holdings

Corporation)

April 2015: Representative Director, President and CEO, LINE Corporation (currently A Holdings Corporation)

July 2018: Representative Director, LINE Digital Frontier Corporation

March 2021: Representative Director, Co-CEO (Co- Chief Executive Officer), Z Holdings Corporation (currently LY Corporation)

April 2023:

June 2023:

October 2023:

June 2026:

President and Representative Director, CEO, Marketing & Sales CPO, Z Holdings Corporation (currently LY Corporation)

Director, PayPay Corporation (to present)

President and Representative Director, CEO (Chief Executive Officer), LY Corporation (to present)

Board Director, SoftBank Corp. (scheduled)

Mr. Takeshi Idezawa achieved the successful rehabilitation of the management of the company formerly known as livedoor Co., Ltd., and has since demonstrated strong organizational control and leadership in supervising the overall management of the LINE Group. Serving as the President and Representative Director, CEO of the Company from April 2023, he has played a leading role in generating synergy and in developing the governance structure, and has also been responsible for the overall management of the LY Corporation Group. The Company has renominated him as a director candidate so that he can continue to lead the promotion of the Group's management and further strengthen governance.