Share Exchange Agreement with Olympic Group Corporation

April 6, 2026

Pan Pacific International Holdings Corporation

‌Speakers

• Pan Pacific International Holdings Corporation ("PPIH") and Olympic Group Corporation ("Olympic Group") resolved at their respective Boards of Directors meetings held on April 6, 2026, to conduct a business integration through a share exchange and concluded a share exchange agreement.

• The effective date of the share exchange is scheduled for July 1, 2026, pursuant to the share exchange agreement, and Olympic Group is expected to become a wholly owned subsidiary of PPIH on that date.

• In the share exchange, 1.18 shares of PPIH common stock will be issued and delivered for each share of Olympic Group.

Notes:

PPIH Group: PPIH and its 70 consolidated subsidiaries, 10 non-consolidated subsidiaries, 1 equity-method affiliate, and 5 non-equity-method affiliates

Olympic Group: Olympic Group and its 27 consolidated subsidiaries, 1 non-consolidated subsidiary, and 2 non-equity-method affiliates

‌"Double Impact 2035" Growth Strategy

COO and Representative Director

• Expand the store network in the Tokyo metropolitan area

  Drive growth in Japan's largest and most strategically important population center

• Enhance sales and profit through proven post-M&A format conversion know-how Don Quijote and MEGA Don Quijote

• Accelerate the expansion of a new store format, Robin Hood

Robin Hood: Small-catchment-area model format

• ‌Expand the store network in the Tokyo metropolitan area

  • Following prior integrations, including UNY, PPIH has achieved a very high market share in Aichi Prefecture; however, significant headroom for expansion remains in the Tokyo metropolitan area, which is demographically critical and where further store network expansion continues to be strategically important.

  • Enable smooth market share expansion in the Tokyo metropolitan area, as approximately 2/3 of Olympic Group stores are located at prime sites in Tokyo and relatively few stores are expected to face cannibalization with existing PPIH stores after format conversion.

• ‌Enhance sales and profit through proven post-M&A format conversion know-how

  • Have strong confidence in driving business growth, supported by a broad range of post-M&A format conversion know-how accumulated through integrations including Nagasakiya and UNY.

  • Promote store conversion to existing formats, including Don Quijote and MEGA Don Quijote, to drive market share expansion (Note: In Tokyo, only 3 MEGA Don Quijote stores currently offer a full fresh food assortment)

• ‌Accelerate the expansion of a new store format, Robin Hood

  Robin Hood: Small-catchment-area model format

  • While Olympic Group's small-catchment-area stores have an established customer base, this alone is insufficient; rapidly improve underperforming stores by leveraging PPIH's diverse assets.

  • Against this backdrop, PPIH also expands the Robin Hood format by converting the Olympic Group's supermarkets already used for daily shopping, enabling more efficient customer acquisition than new standalone openings.

Plan to disclose the following details at the full-year earnings release for the fiscal year ending June 2026

• Future direction and detailed quantitative targets

• Post-integration roadmap

• MD and PMI strategies aimed at maximizing synergies

Execute a share exchange utilizing treasury shares acquired in 2021

Shareholder composition (Before the transaction)

Shareholder composition (After the transaction)

Olympic shareholders

100%

100%

(100-Y)%

Y%

PPIH

shareholders

Olympic shareholders

Exchange PPIH treasury shares for Olympic shares

100%

• Number of Olympic Group stores: 122

• Operate group companies consisting of Olympic Group, its 27 consolidated subsidiaries, 1 non-consolidated subsidiary, and 2 non-equity-method affiliates.

(Millions of yen)

FY2/23

FY2/24 FY2/25

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