2025.02.17 Company Profile

© RAKSUL, inc. All rights reserved. Index Company Profile
 About RAKSUL Group
 Service Overview
 Working Environment
 Recruitment
 Engineering Organization

© RAKSUL, inc. All rights reserved. Vision Company overview Change the system and the world will be a better place. 3

4 © RAKSUL, inc. All rights reserved. RAKSUL Company overview

© RAKSUL, inc. All rights reserved. RAKSUL Group Company overview 5 Global Printing Industry (Sales Promotion and General Affairs Budget) Japan R&D Center Advertising industry Logistics Industry Corporate IT Industry Overseas Bases Printing Industry

© RAKSUL, inc. All rights reserved. Corporate Information RAKSUL Corporation
 Tokyo Stock Exchange Prime Market
 19F, Azabudai Hills Mori JP Tower, 1-3-1 Azabudai, Minato-ku, Tokyo
 September 1, 2009
 Representative Director, President and Group CEO Company Name
 Listed Market
 Head Office Location
 Established Name of Representative 6 Company overview

© RAKSUL, inc. All rights reserved. *(1) Average annual growth rate from FY07/2020 to FY07/2024.
 *(2) As of July 31, 2024. Full-time employees at consolidated and overseas development sites (non-consolidated)
 *(3) As of July 31, 2024. Headcounts of regular, contract, and part-time employees at consolidated and overseas development sites (non-consolidated) Company overview RAKSUL Group in figures 2024 2023 2022 Net sales (Millions of yen) CAGR 27 36.3 % 2021 2020 2024 2023 2022 2021 2020 19,434 25,523 33,980 41,018 51,121 Annual Changes (Unit: persons) 265 342 484 533 929 歳 929人 Average annual growth rate*(1) Average age Number of Employees *(2) *(3) 7

© RAKSUL, inc. All rights reserved. What is the RAKSUL GROUP? 8

© RAKSUL, inc. All rights reserved. What is the RAKSUL GROUP? A technology platform offering end-to-end management solutions to small businesses About us End-to-End Solutions for Small and Medium Business Management Challenges Technology Platform The RAKSUL Group, now in its second founding period, is moving toward the next stage with the aim of becoming a "technology platform that provides end-to-end solutions to the management issues of small and medium-sized businesses" based on a vision that will never change.We will provide services not only in the traditional business domain of "goods" but also in all management domains of "people, goods, and money" in corporate management,We are committed to providing comprehensive solutions to the management issues of small and medium-sized enterprises, which account for approximately 99.7% of all companies in Japan. 9

History of the RAKSUL Group We have worked to "transform industrial structures" in multiple industry domains. Reforming the multiple subcontracting structure of the printing industry, we have established a system that enables "fast, inexpensive, and easy" commercial printing. A platform for printing and customer attraction support, centered on online printing, newspaper inserts and postings, apparel and uniforms, novelties and goods production, and other services. Transforming the way TV commercials are used as a marketing tool and building an operational TV commercial market. A marketing platform that operates an advertising agency business and a marketing DX business. We have established a system that enables us to provide users with transportation and delivery services quickly, cheaply, and safely by effectively utilizing the non-operating time of transportation companies. A logistics platform that operates a matching platform business connecting shippers and carriers, and an operation DX business for shippers. Establish a mechanism to automate analog operations in the information system department. Integrated management service of IT devices and SaaS that supports business cost reduction and security level improvement. Businesses and services launched in-house Other group-in businesses and services through M&A 10 Since our founding in 2009, we have worked to transform the industrial structure by bringing the Internet to traditional industries that have not yet been digitized, with the vision of "change to "better systems, better world". Through the launch of internally developed businesses such as the "Novasell" platform, the "Hacobell" logistics platform, and the "JOSYS" IT device and SaaS integrated management service, as well as through continuous M&A, the company is expanding its business and customer domain, while growing into a portfolio company with unique strengths. What is the RAKSUL GROUP? © RAKSUL, inc. All rights reserved.

© RAKSUL, inc. All rights reserved. Examples of industrial transformation to date (1/2) 11 The Japanese printing industry has long faced the problem of a multiple subcontractor structure. In the past, the two major printing companies alone accounted for nearly half of all shipments in Japan, and 60-70% of the projects they handled were subcontracted to some 30,000 small and medium-sized printing companies. In addition, the industry as a whole was facing the problem of a large difference between overstaffing and understaffing depending on the season and production volume, and the average utilization rate of small and medium-sized printing companies was only 50-60%. The multiple subcontracting structure made it difficult to achieve efficient production, resulting in an unstable operating environment, which made it difficult to expand business and invest in new technology and equipment. 
 In response to this industry challenge, we have established a system that optimally matches "users who want to print" with "affiliated printing companies nationwide" via the Internet. The result is a win-win situation where users can enjoy low-cost, high-quality services and printing companies can stabilize their earnings, thereby changing the structure of the industry. What is the RAKSUL GROUP? Before After order manufacture delivery of goods cheap
 fast
 easy

© RAKSUL, inc. All rights reserved. Examples of industrial transformation to date (2/2) Transforming TV commercials as a marketing tool and building an operational TV commercial market 12 Unable to see return on investment It's going to cost a fortune. High-speed PDCA cycle using nominated searches,Developed a system that enables visibility of return on investment and efficiency. TV commercials have traditionally had the problem of not being able to see the return on investment. Although TV commercials are superior to other media in terms of reach and brand image enhancement, it has been difficult to effectively utilize TV commercials as a corporate marketing tool because it was not possible to monitor the response in real time as is the case with Internet. advertisements.

 In response to the marketing challenges faced by many companies, we have developed a unique tool to measure the return on investment of TV commercials using digital marketing techniques, based on the keyword "nominated search," which is a direct web search of a company name, product, or service by potential customers. In this way, we have created an operational TV commercial market in the industry, and at the same time, we have created a system that enables high-speed PDCA cycles in the same way as Internet advertising. What is the RAKSUL GROUP?

© RAKSUL, inc. All rights reserved. RAKSUL Group in the future 13 RAKSUL ID Transaction Printing EC Business
 Cardboard Packaging materials business, etc. Finance Financial business (planned) Software Marketing DX Business
 Customer Attraction Support Business, etc. Customer service and data provision Expansion of convenience and provision of credit Customer service and data provision Convenience Expansion Data Provision Data Provision We aim to grow as a "technology platform that provides end- to-end solutions to the business challenges of small and medium-sized enterprises (SMEs)" based on the "RAKSUL ID," a common ID that forms the basis of our customer base of more than 2.8 million customers, mainly SMEs We will expand our services to solve the management issues of small and medium-sized businesses in the three business domains of EC and other transactions, software, and finance. What is the RAKSUL GROUP?

© RAKSUL, inc. All rights reserved. Why the RAKSUL Group focuses on solving the business challenges of small and medium-sized companies (1/2) 1. because we can provide more value by developing services utilizing the "RAKSUL ID". 14 The main critical issues faced by many SMEs in Japan can be broadly categorized into those related to "marketing," "finance and settlement," and "organization and employees. We believe that we can contribute to solving these issues through "RAKSUL ID," a common ID with a customer base of 2.8 million people, mainly SMEs. Through further business expansion, entry into new markets, and M&A, we aim to provide a one-stop service that meets the needs of all SMEs. Management issues that SMEs in Japan consider important Issues that our SMEs consider important Securing and developing human resources 74% Marketing 62% 32% Finance & Settlement 34% Development and improvement of products and services Expansion and management of production and manufacturing facilities 34% 23% Technology Research & Development 13% Improving operational efficiency and data utilization 2% Other Marketing ・CustomerAttraction ・Customer management ・ Inquiry handling 73% 43% 38% Finance & Settlement ・Settlement fees ・Billing and payment 40% 22% Organization & Employees ・Attendance management ・Employee information 　 　 　 management 41% 39% *(1) Source: Small and Medium Enterprise Agency, "2020 White Paper on Small Enterprises (HTML Edition), Figure 3-2-23: Key Management Issues by Business Size and Industry" (by company size and industry).Based on this, the top three challenges faced by businesses were aggregated(compiled by our company).As multiple responses were allowed, the total percentage does not necessarily sum to 100%.
 Sample sizes (n):Small-scale manufacturers: n = 918, Small-scale non-manufacturers: n = 1,255, Medium-scale manufacturers: n = 1,166
 Medium-scale non-manufacturers: n = 680 *(2) Survey Date: June 2024 Survey Target: Companies with fewer than 500 employees among our customers (n = 450)
 Methodology: The percentage of people who selected the top two levels of importance among the six levels for each of the challenges. What is the RAKSUL GROUP?

© RAKSUL, inc. All rights reserved. What is the RAKSUL GROUP? Why the RAKSUL Group focuses on solving the business challenges of small and medium-sized companies (2/2) 2. because we advocate building an ecosystem as a "BtoB platform" for SMEs. 15 B2C Platformer B2B Platformer RAKSUL Subscription slash membership type
 Penetration into the daily lives of users by providing services Transactional and financial affinity Creation of an ecosystem based on a common ID Common ID Common ID Recently, there are several B2C platformers that have built ecosystems in the areas of EC, contents/subscription, and finance based on common IDs, and have grown significantly. As a B2B platform, we will contribute to solving the management issues of SMEs by building an ecosystem in a B2B frame based on the common ID "RAKSUL ID". EC / Marketplace F inance Content/
 Subscription
 Subscription Software F inance EC / Marketplace

© RAKSUL, inc. All rights reserved. RAKSUL Group's Unique Strengths 16 *(1) *(2) RAKSUL, our printing and customer attraction support platform, currently serves over 2.8 million customers, with approximately 70% of sales coming from small and medium-sized businesses. Our wide range of services, including business card printing at 499 yen for 100 copies, cardboard boxes that can be ordered in small lots, and video production services that can be produced for 50,000 yen excluding tax, have made us the platform of choice for many companies regardless of industry or size, which is why we have continued to grow and expand our business.
 With SMEs accounting for 99.7% of the total number of companies in Japan, and many companies working on DX, our customer base still has a great deal of room for expansion. Our unique strength lies in our ability to utilize the statistical data from the RAKSUL ID, our common customer base, to understand the diverse needs of SMEs and provide them with ever-increasing value, and in our aim for discontinuous growth as a company that supports SMEs, thereby contributing to the development of the Japanese economy. small business medium-sized enterprise (business, firm) enterprise Percentage of employees in Japan
 RAKSUL registrations as a percentage of ten thousand 52 5% 2% 0,4% ten thousand 56 all companies all 285 972 all 1,438 all companies 1 ten thousand 6 all 2,337 all companies 51 Orders received from small and medium-sized enterprises (SMEs) occupy a position (e.g. committee member, etc.) 7 0％ Number of companies and employee s in Japan as a whole Number of registered corporate user s of RAKSUL *(1) Source: Small and Medium Enterprise Agency, "Number of Enterprises, Regular Employees, and Total Employees by Prefecture and Major Cities ( Private Sector, Non-Primary Industries, 2021) "Small enterprises: Businesses with 20 or fewer employees ( for quick-sale, retail, and service industries, 5 or fewer employees) .Medium enterprises ( varies by industry) Rubber product manufacturing: Capital of ≤ 300 million yen or ≤ 900 employees.Other manufacturing, construction, and transportation industries: Capital of ≤ 300 million yen or ≤ 300 employees.Lodging industry: Capital of ≤ 50 million yen or ≤ 200 employees.Wholesale industry: Capital of ≤ 1 00 million yen or ≤ 1 00 employees.Retail industry: Capital of ≤ 50 million yen or ≤ 50 employees.Other industries may have different classifications. *( 2) Small enterprises: Businesses with fewer than 1 0 employees.Medium enterprises: Businesses with fewer than 500 employees. What is the RAKSUL GROUP ?

© RAKSUL, inc. All rights reserved. Engineering Organization RAKSUL is focused on enhancing and expanding its technology infrastructure to create a comprehensive "technology platform" designed to address the end-to-end management challenges of small and medium-sized businesses. By integrating the infrastructure that was previously divided among multiple businesses into a single platform and creating a common foundation, we will strengthen collaboration among services and improve operational efficiency. This platform will enable seamless collaboration and synergy creation in future M&As and new business launches. Evolution of Technology Platforms We aim to achieve discontinuous growth through the development and strengthening of our technology infrastructure. 17 Bill Management BPaaS Banking as a Serevice Embedded Financial Account Management SCM / Inventory DTP Automation Data Collection Marketing Spend Optimization Offline Ad Technology 2.8M Users Transaction Data Core Data RAKSUL ID Web to Print
 Seamless Customized Goods EC B2B EC Offline Marketing Transaction Finance Software B2B Payment Bank Account Digital Marketing TV Ad Buying Dash Board Website Builder U I Optimization and Design Syst em Design Editor & Generator

© RAKSUL, inc. All rights reserved. 18

© RAKSUL, inc. All rights reserved. Raksul Business https://recruit.raksul.com/story/3min-raksul/ https://recruit.raksul.com/story/about-riu-all/ Printing and Customer Attraction Support Platform 19 RAKSUL has built a "printing and customer attraction support platform" and is developing services in online printing and related areas while working to change the industrial structure. The conventional printing industry has long had a "multiple subcontractor structure" in which the two major printing companies account for almost half of the market, and 60-70% of these projects are subcontracted to approximately 30,000 or more small and medium-sized printing companies. This structure resulted in low production efficiency and unstable utilization rates, making it difficult to invest in technology and equipment.In response, RAKSUL has established a system that uses the Internet to optimally match "users who want to print" with "affiliated printing companies nationwide.The company's customers enjoyed reasonable and high quality services, and the printing company enjoyed increased projects and stable revenues. This has created a mutually beneficial relationship in which customers enjoy reasonable, high-quality services and printing companies see an increase in projects and stable earnings. In addition, technology has made it possible to improve the efficiency of printing methods and speed checks of incoming data, and we are expanding our services to include large corporate services, novelties, postings, direct mail (DM), and the packaging materials domain.We will continue to create synergies through M&A and business alliances to create a "customized EC platform that makes working people's lives easier.

© RAKSUL, inc. All rights reserved. Making it Easier for Workers
 Creating a customized EC platform Raksul Business 20 Mission

© RAKSUL, inc. All rights reserved. Services Raksul Business Printing EC business Easy ordering service for flyers, brochures, business cards, and other printed materials on paper at the lowest prices in the industry. Customer attraction support business Services to help companies attract customers by combining various methods such as printed materials, promotional materials, newspaper inserts, direct mail, etc. Goods & novelties business Online ordering service for a wide variety of novelty goods, from a single piece Enterprise business Business support service for large companies that allows centralized management of printed materials and sales promotion-related operations Marketing Business for SMB
 Marketing business streamlining services for SMBs, including "50,000 yen for a full throw-away business trip video". Cardboard and packaging materials business Online service for ordering various sizes and types of cardboard boxes and packaging materials in small lots. A ppa rel & unif orm business A service that allows customers to easily order apparel and uniforms in a wide variety of designs and sizes online, starting with a single piece. Seal & stamp EC mail-order business A service that makes it easy to order seals and stamps online, from a single piece, with a wide variety of designs and options to choose from. RAK SUL p ro vid es th e fo llow ing services w ith th e aim of creat ing a custom iz ed e- comm erce p latfo rm th at m akes wo rking p eop le' s lives easier 21 I n o rder to fu lfi ll ou r sta ted m issio n, w e a re cu rrently p romo ting M& A a s w ell a s lau nching in- hou se p ro du ctio n. Mo st recently , throu gh M& A, w e ha ve expa nded ou r ra nge of services to inclu de the a rea s of pa cka ging ma teria ls a nd stick ers tha t p eop le need fo r their bu sinesses.W e w ill co ntinu e to develop mo re co nvenient o ne- stop pu rcha sing services.

© RAKSUL, inc. All rights reserved. Future Prospects Raksul Business Local
 Marketing
 Markets apparel (clothing) market CMS Printing Market
 (Content Management System) Direct
 Mail Market Novelty Market Cardboard Market Customer Attraction Support Area
 1~2 trillion yen Office/
 Industrial Materials Area
 3~5 trillion yen new area Commercial & Office
 Printing market
 3 trillion yen Reseller Market Enterprise Printing Market SMB Printing Market We will focus on creating an increasingly convenient "customized EC platform" 22 RAKSUL has developed a wide range of businesses, starting with printing on paper, and has achieved significant growth, including becoming the No. 1 online printing EC company in Japan in terms of members in November 2022. Going forward, we will focus on building an increasingly convenient EC platform. We have already expanded beyond the commercial and office printing market into the office/industrial materials and customer attraction support areas, and will continue to strengthen and expand these areas in the future.We aim to be No. 1 in each of these markets, each of which is said to be worth several hundred billion yen, and to create new value and improve convenience for our customers.In developing new markets, we will take on the challenge of launching businesses in-house and through M&A. In existing mature markets, we will achieve sustainable growth through business integration and the provision of new services. Through these efforts, RAKSUL aims to achieve further growth beyond the boundaries of the printing industry.

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© RAKSUL, inc. All rights reserved. Novasell Business https://novasell.com/professional https://recruit.raksul.com/story/3min-novasell/ Marketing Platforms 24 We provide one-stop services for planning, production, airing, and analysis of TV commercials and other advertising, as well as optimizing and structuring all marketing operations with the power of people and data. Since our launch as an operational TV commercial service business, we have pioneered and developed the operational TV commercial market. While TV commercials have an overwhelming reach and are useful for improving brand image, they are expensive and cannot be measured or tracked in real time like web advertising, making it difficult for companies to use them effectively as a marketing tool. Novasell has confronted this issue by making it possible to measure the advertising effectiveness of TV commercials using "nominated searches," an indicator that had been considered difficult in the industry. We call this programmatic TV commercials, and related tools and services. We have been working to optimize marketing investment in companies while also developing. Utilizing the foundation developed through our operational TV commercial service business, we currently provide comprehensive measures, effectiveness analysis, and improvement proposals that include not only TV commercials but also web marketing from a third-party perspective, helping companies make accurate decisions on how to spend their advertising dollars and the prices of their proposals. In this way, we facilitate the marketing DX of advertiser companies and help them improve their productivity.We will continue to realize the "democratization of marketing," aiming for a world in which everyone can understand the correct effectiveness and use marketing to its fullest.

© RAKSUL, inc. All rights reserved. Novasell Business Democratization of Marketing 25 Mission

© RAKSUL, inc. All rights reserved. Service One-stop support for planning, production, airing, and analysis of advertisements centered on web videos, including TV commercials and YouTube ads Advertising Agency Business Marketing DX Business Novasell Business SaaS Products We offer a variety of services with the aim of "democratizing marketing. 26 Novasell Trend
 A tool that allows you to instantly visualize what kind of commercials other companies have aired, in what slots, and how effective they have been. Nobisiro
 Ultra-fast qualitative and quantitative research service that can collect interviews and the opinions of 100 customers in as little as 20 minutes for use in business decisions. Novasell Analytics
 A tool that enables real-time visualization of the effects of TV commercials by area, program, and creative, which has been difficult in the past. Marketing strategy development to execution Novasell currently operates an advertising agency business that provides one-stop support for the planning, production, airing, and analysis of advertising videos, mainly web videos such as TV commercials and YouTube ads, and a Marketing DX business that supports data-driven marketing strategy development through to execution. We also offer our own SaaS products such as "Novasell Analytics" andDeveloped "Nobishiro" and "Novacel Trend." By effectively combining and utilizing these products in both businesses, and by providing support and accompaniment, we will maximize the results of corporate marketing activities.

© RAKSUL, inc. All rights reserved. advertising sponsor agent Evaluation Effectiveness Analysis Future Outlook Novasell Business As a "3rd Agency", we will objectively
 Measure the effectiveness of marketing and provide mid- to long-term support advertising sponsor agent Execution Creative production and program airing Planning Marketing Strategy Development Evaluation Effectiveness Analysis Execution Planning Marketing Strategy Development Direct communication between advertisers and ad agencies Black box status of marketing As the "3rd AG ENCY ", we bring results to corporate marketing activities from a "third perspective". 27 No va sell ha s ma de signifi ca nt co ntribu tio ns to the crea tio n a nd developm ent of the op era tio na l TV comm ercia l ma rk et, a nd ha s develop ed a nd p ro vided highly u niqu e ma rk eting- rela ted too ls a nd services. Go ing fo rwa rd, No va sell w ill fo cu s o n levera ging this fou nda tio n to p lay the ro le of a"3 rd Agency" in suppo rting co rpo ra te ma rk eting.
 I n o rder to elim ina te the "b la ck box" na tu re of ma rk eting, w e w ill mak e fu ll u se of ou r cu stom er da ta co llectio n a nd a na ly sis techno lo gies a nd co nsu lting services to mak e it ea sy fo r a nyo ne to ma rk etinW e w ill crea te a n enviro nm ent tha t enab les m ea su rem ent of the eff ectiveness of ma rk eting a ctivities. W e w ill a lso p ro vide m edium- to lo ng- term suppo rt f rom a third-pa rty p ersp ective a s a " 3 rd Agency" to m eet the needs of a dvertisers, a nd fo cu s o n stru ctu ring ma rk eting op era tio ns to crea te a n enviro nm ent in w hich compa nies ca n strengthen their ow n ma rk eting effo rts.T hrou gh these effo rts, No va sell w ill co ntinu e to p romo te the " demo cra tiza tio n of ma rk eting" a nd a im fo r a wo rld w here services a rou nd the wo rld grow p rop erly .

© RAKSUL, inc. All rights reserved. 28

© RAKSUL, inc. All rights reserved. Other Businesses RAKSUL Bank We are looking to enter a new financial platform business. 29 Embarking on a new strategic direction, the RAKSUL Group has begun exploring the development of a financial platform business, including banking services. This initiative aims to address one of the fundamental challenges faced by small and medium-sized enterprises (SMEs) – payment-related issues. The service is planned for launch in 2025 and is designed to provide an exceptionally convenient and cost-effective payment experience for SMEs, individual business owners, and suppliers.

© RAKSUL, inc. All rights reserved. Working Environment 30

© RAKSUL, inc. All rights reserved. Reality To actually see the situation in the field with one's own eyes, and to set issues based on the information one has experienced and grasped. To go through a trial-and-error process, which can be called "small experiments," to ensure the uncertain. To be able to prioritize issues correctly after working on the above. Leading to the solution of issues through advanced technology and structuring. Eliminate inefficiencies and improve productivity. Proposing effective approaches based on original ideas and ingenuity. Creating an environment where information asymmetry does not exist. Disclose the background and context of decision-making and ensure transparency in information sharing. Clarify each member's mission and area of responsibility, and create a team that delegates work to each other.
 Responsible for recruiting and promoting and building a strong team that maximizes member results. Ensure team success by onboarding members, providing appropriate feedback, and maintaining motivation. System Transparency Team first Action Guidelines "RAKSUL Style*(1) *(1) Applicable only to RAKSUL Corporation and Novacel Corporation. Each member understands the essence of the "RAKSUL Style" code of conduct and strives to create value by putting it into practice in daily work and decision-making situations. 31 Working Environment

© RAKSUL, inc. All rights reserved. In order to create a workplace where diverse employees can work with peace of mind and long-term success under fair opportunities, we are expanding our systems from three perspectives. Benefits program Kanael（1/2） Flex System A system that allows employees to freely set their arrival and departure times (core hours are from 11:00 to 15:00, and from 10:00 to 15:00 only at the beginning of the week). The system allows employees to work from 11:00 am to 3:00 pm. This allows for a flexible work style. *Depends on the course Rental Company Housing System This is a system in which the company rents a rental property and leases it to employees.The rent is deducted from the employee's salary, which reduces the amount of income and leads to tax savings. Maternity and childcare leave return bonus system This is a system under which the company provides congratulatory money according to the number of days of maternity or childcare leave taken before and after childbirth. Employees are eligible to receive the money when they return to work after maternity or childcare leave. *Effective full salary for the period of maternity or childcare leave Male employees: up to approximately 2 months (within 6 months of childbirth) / Female employees: up to approximately 8 months Celebration, Condolence, and Sympathy Payments System This is a system under which the company pays a certain amount of money to employees in the event of congratulations or condolences for employees or their family members. Employees with same-sex partners are also eligible for the same benefits. Company-led nursery school use system This is a system that allows employees to use childcare services by making a direct contract with a daycare center without going through the local government.
 Employees with children between the ages of 0 and 2 can use this system. Babysitter Discount Voucher System
 This system offers a discount of 2,200 yen per babysitter per child.
 If you have two eligible children, you can receive a subsidy of 4,400 yen. 1. Support for diverse human resources and work styles Working Environment 32 KanaL Childcare and Family Care Leave System This system allows employees to take childcare and nursing care leave regardless of gender, position, age, or length of service. The leave can be taken smoothly from the desired date, and many employees have taken the leave. (Available regardless of length of service)
 (Available regardless of years of service*Acquisition rate in 2023: Male employees: 71.4% / Female employees: 87.5）

© RAKSUL, inc. All rights reserved. Working Environment 2. Support for career advancement 3. Praise for contributions Skill Improvement Support System The company will pay up to 15,000 yen (excluding tax) per person per year to attend outside seminars and training, attend language schools, take certification exams, and purchase textbooks for those exams, if the company approves. This system allows employees to voluntarily improve their skills.*Depends on the course. Language Acquisition Support This system allows employees to take English lessons with a full-time in-house English instructor.One-on-one or group lessons are available free of charge during working hours.*Only applicable to certain employees. Technical book purchase program This system allows employees to purchase technical books when approved by the company. This system allows employees to voluntarily improve their skills.
 *Engineers, designers, and PdMs are eligible for this system. Thanks holiday system
 This is a system that grants Thanks vacation leave for the purpose of refreshment, health maintenance, and self-development according to the number of years of service of employees. The holiday may be taken as a special vacation (with pay). Long Service Celebration Reward System
 This is a system to honor employees for their long-term service. Employees who have been with the company for 5 or 10 years will receive a reward. Benefits program Kanael（2/2） 33 KanaL We value a corporate culture that supports career advancement and celebrates contributions.

© RAKSUL, inc. All rights reserved. Development of Environmentally Conscious Commercial Materials
 In our packaging material service, we are promoting sustainability and SDGs initiatives through environmentally friendly packaging and cushioning materials. The company is a one-stop shop for planning, development, and production of cardboard using FSC® certified paper. The company also reuses cutting scraps and used paper from printing companies to develop environmentally friendly products such as Arrow Eco Cushion, a cushioning material that contains no harmful chemical substances. Efficient Use of Paper Resources
 In our printing services, we are committed to efficient use of paper resources. In normal printing, multiple copies of the same document are printed and cut on paper that is large enough to print eight A4 sheets, but sometimes more is printed than necessary, especially during the trial printing process. Specific initiatives in the RAKSUL business Responding to Climate Change
 We are committed to contributing to the realization of a sustainable society by addressing climate change as one of our management issues. Through the following initiatives, we aim to both reduce our environmental impact and increase our corporate value.We will measure and disclose the amount of greenhouse gas emissions from our activities and services.We will support the reduction of greenhouse gas emissions in our activities and improve energy efficiency throughout the value chain. Responding to Climate Change
 We are committed to contributing to the realization of a sustainable society by addressing climate change as one of our management issues. Through the following initiatives, we aim to both reduce our environmental impact and increase our corporate value.We will measure and disclose the amount of greenhouse gas emissions from our activities and services. We will support the reduction of greenhouse gas emissions in our activities and improve energy efficiency throughout the value chain. Sustainability in RAKSUL (1/3) Working Environment Environment We have been conducting our corporate activities with the wish to "make the world a better place" in our stated vision.
 We will promote various initiatives to contribute to the realization of a sustainable society. 34

© RAKSUL, inc. All rights reserved. Organizational Structure
 We have established guidance to eliminate discrimination and prejudice based on attributes (gender, nationality, age, religion, etc.) and foster a corporate culture that respects diverse values and perspectives.
 
 Training
 To create an organization and culture that embraces diversity, we conduct diversity training such as unconscious bias training and leadership training.
 
 System
 We are striving to create an environment in which employees can take on challenges with peace of mind in response to their life stages and changes in the external environment. Working Environment Sustainability in RAKSUL (2/3) Organization We are working to promote diversity equity and inclusion (DEI) with the aim of realizing a company and society in which each individual can respect each other, feel secure, and play an active role in his or her own way. 35

© RAKSUL, inc. All rights reserved. THE USE BY RAKSUL INC. OF ANY MSCI ESG RESEARCH LLC OR ITS AFFILIATES (“MSCI”) DATA, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP, ENDORSEMENT, RECOMMENDATION, OR PROMOTION OF RAKSUL INC. BY MSCI. MSCI SERVICES AND DATA ARE THE PROPERTY OF MSCI OR ITS INFORMATION PROVIDERS, AND ARE PROVIDED ‘AS-IS’ AND WITHOUT WARRANTY. MSCI NAMES AND LOGOS ARE TRADEMARKS OR SERVICE MARKS OF MSCI. FTSE Russell (a registered trademark of FTSE International Limited and Frank Russell Company) hereby certifies that RAKSUL Corporation has met the requirements for inclusion in the FTSE Blossom Japan Index as a result of independent research. The FTSE Blossom Japan Index is created by FTSE Russell, a global index provider, and is designed to measure the performance of Japanese companies that demonstrate excellence in environmental, social and governance (ESG) performance. The FTSE Blossom Japan Index is widely used to create and evaluate sustainable investment funds and other financial products. FTSE Russell (a registered trademark of FTSE International Limited and Frank Russell Company) hereby certifies that RAKSUL Corporation has met the requirements for inclusion in the FTSE Blossom Japan Index as a result of independent research. The FTSE Blossom Japan Index is created by FTSE Russell, a global index provider, and is designed to measure the performance of Japanese companies that demonstrate excellence in environmental, social and governance (ESG) performance. The FTSE Blossom Japan Index is widely used to create and evaluate sustainable investment funds and other financial products. Working Environment RAKSUL INC. receives an MSCI ESG Rating of BBB As of 2024, RAKSUL INC. received an MSCI ESG Rating of BBB Selected for FTSE Blossom Japan Sector Relative Index Developed by FTSE Russell, a member of the London Stock Exchange Group, the FTSE Blossom Japan Sector Relative Index is comprised of Japanese companies that demonstrate outstanding environmental, social and governance (ESG) performance in their respective sectors. We have been included in the index since April 2022. Selected for FTSE Blossom Japan Index Developed by FTSE Russell, a member of the London Stock Exchange Group, the FTSE Blossom Japan Index is comprised of Japanese companies with outstanding ESG performance. We have been included in the index since June 2023. Sustainability in RAKSUL (3/3) We have been evaluated by an external evaluation organization for our sustainability initiatives. 36 ESG Assessment

© RAKSUL, inc. All rights reserved. Office Kyoto Office Shijo-Karasuma Central Building 8F, 68-2, Tateuri-Nishi-cho, Shimogyo-ku, Kyoto-shi, Kyoto Azabudai Office (Headquarters) 19F, Azabudai Hills Mori JP Tower, 1-3-1 Azabudai, Minato-ku, Tokyo ※Effective February 12, 2025 （Due to relocation preparations, the previous headquarters in Meguro closed on January 31, 2025.） Kanazawa Office 4-133 Kurazuki, Kanazawa, Ishikawa, Japan Working Environment As of February 2025 37

© RAKSUL, inc. All rights reserved. New Office Working Environment Azabudai Office
 19F, Azabudai Hills Mori JP Tower, 1-3-1 Azabudai, Minato-ku, Tokyo

 4 minutes walk from Exit 2 of Roppongi-itchome Station on Tokyo Metro Namboku Line
 Direct access from Exit 5 of Kamiyacho Station on Tokyo Metro Hibiya Line ©️ DBOX for Mori Building Co., Ltd. - Azabudai Hills Feb. 2025 Head office relocated to "Azabudai Hills Mori JP Tower". 38 RAKSUL Group is relocating its headquarters for the first time in approximately a decade, with the primary goal of fostering a stronger sense of unity across the organization and maximizing synergies. Reflecting employee feedback, the new office is designed to naturally facilitate creative communication and collaboration. This move marks an evolution toward a more comfortable, sophisticated, and productive work environment.

© RAKSUL, inc. All rights reserved. 39 Recruitment information

© RAKSUL, inc. All rights reserved. ・Career Desire
 ・What is your experience etc.? ・Thinking process
 ・Direction of interest, etc. RAKSUL will
 deepen your understanding of the ・Thinking process
 ・Direction of interest, etc. Career aspirations upon 　 　 　 joining RAKSUL, etc. ※ We will ask you to obtain references when hiring people who are equivalent to department heads or above.
 Before the final selection phase, please provide us with references of people with whom you had business connections in the past, such as your supervisor at the time or someone diagonally above you.If there is no one who corresponds to your needs, please consult with us. Recruitment information We place a high priority on developing mutual understanding. Interview Work sample Final interview / Offer Reference Checking Recruitment Flow ・Business description, 　 corporate culture
 ・Position openings, etc. Image of the business
 Team atmosphere, etc. We will set up interviews with employees. We will set up interviews with employees upon request. ・Offer conditions
 ・Post-employment image, etc. You will
 Deepen your understanding 40

© RAKSUL, inc. All rights reserved. Learn more about RAKSUL RAKSUL TechBlog https://techblog.raksul.com/ RAKSUL DESIGN MAGAZINE https://note.com/raksuldesign/m/m8408a8ccc1bc Recruitment website https://recruit.raksul.com/ Corporate website https://corp.raksul.com/ Job Listing Page https://hrmos.co/pages/raksul Integrated Report https://corp.raksul.com/ir/library/integratedreport/ Recruitment information Links 41

© RAKSUL, inc. All rights reserved. Engineering Organization 42

© RAKSUL, inc. All rights reserved. The concept of "scalability" is extremely important in improving the efficiency of an entire industry. If the efficiency and structure are not improved to the point that they can be expanded horizontally, the industry will revert back to the conventional "human-mediated" state.We will create a highly scalable structure that thoroughly eliminates the need for human intervention and enables the integration of various RAKSUL-related services and their infrastructures, thereby creating a highly versatile structure that can be used worldwide. Make it Scalable In order to improve the efficiency of "operations designed on the premise of human intervention," it is necessary to skillfully combine customer issues with solutions.To this end, we not only "identify issues" by gaining a deep understanding of current operations and flow sequences, but also determine "how to realize" them in terms of feasibility and put them into action, making full use of our knowledge of the latest technologies.
 Think Architecturally The world of RAKSUL's challenge of "thorough automation and efficiency" is a complex and difficult challenge.The complexity of the process is what allows us to build a unique position with high barriers to entry.We understand that challenges do not always lead to success and that failure is inevitable, and we will work together with our colleagues to open up new possibilities beyond the conventional framework.
 Go Beyond Engineering Organization Engineering Culture Value Creation in Technology Organizations 43 We are committed to realizing our vision of "Better Systems, Better World" through a deep understanding of the industry and by using technology to provide scalable (flexible and extensible) systems. We will promote the efficiency of the industry as a whole and modernize it by identifying areas for change and thoroughly automating "tasks that traditionally required human intervention" in the industry.

© RAKSUL, inc. All rights reserved. Global engineering organization Engineering Organization Domestic Only Product A Team Domestic & Vietnam Office Product B Team Vietnam Base Product C Team In 2020, we set up a development center in Vietnam. Infrastructure (across products) 44 The percentage of foreign nationals in the company's engineering organization has grown to about one-third, and about half of the product team is made up of Vietnamese and Japanese engineers.We have a mix of members. We communicate and collaborate actively with English as our common language.

© RAKSUL, inc. All rights reserved. Engineering Organization RAKSUL is focused on enhancing and expanding its technology infrastructure to create a comprehensive "technology platform" designed to address the end-to-end management challenges of small and medium-sized businesses. By integrating the infrastructure that was previously divided among multiple businesses into a single platform and creating a common foundation, we will strengthen collaboration among services and improve operational efficiency. This platform will enable seamless collaboration and synergy creation in future M&As and new business launches.


 Evolution of Technology Platforms We aim to achieve discontinuous growth through the development and strengthening of our technology infrastructure. 45 Banking as a Service Embedded Financial Bill Management Account Management SCM / Inventory DTP Automation BPaaS Data Collection Marketing Spend Optimization Offline Ad Technology 2.8M Users Transaction Data Core Data RAKSUL ID Web to Print
 Seamless Customized Goods EC B2B EC Offline Marketing Transaction Finance Software B2B Payment Bank Account Digital Marketing TV Ad Buying Dash Board Website Builder U I Optimization and Design Syst em Design Editor & Generator

© RAKSUL, inc. All rights reserved. Engineering Organization RAKSUL's technical achievements (1/3) Automation enables rapid, high-quality printing at low cost 46 Printing starts “Quickly” from the time of submission. We provide high-quality printed materials quickly and inexpensively through optimization, which is difficult to achieve with human labor. Automation
 Completed in 10 minutes Value Automatic optimization of combination and sorting. By System
 Automation Structure Complex combinations of printed materials are done manually, reducing efficiency. Issue Shortens processing time and reduces the risk of delivery delays. Smooth printing is realized. Value Automates data processing and speeds up verification, correction, and conversion. Structure Shortest
 20 sec. Time-consuming confirmation, correction, and conversion of print data, with a high risk of delivery delays. Half day
 1 day Issue High-quality printed materials are “Cheap”.

© RAKSUL, inc. All rights reserved. Engineering Organization RAKSUL's technical achievements (2/3) Efficiently attract customers through integrated management and optimize strategic planning through data analysis 47 Quick measurement of effectiveness enables planning of effective marketing strategies. 自動化 10分で完了 Measure business contribution in real time and visualize data. Structure The effectiveness of TV commercials cannot be quantitatively measured, making strategy optimization difficult. Issue Value Shortens processing time and reduces the risk of delivery delays. Smooth printing is realized. production planning order Value Automates data processing and speeds up verification, correction, and conversion. 注文 ¥1000 ¥1000 ¥1000 Structure Time-consuming confirmation, correction, and conversion of print data, with a high risk of delivery delays. production order planning Issue “Easy”from analysis to strategic planning. Attracting customers is “Easy”.

© RAKSUL, inc. All rights reserved. Engineering Organization RAKSUL's technical achievements (3/3) Unified settlement platform reduces fees and minimizes transaction costs 48 Reduced commissions and minimized transaction costs. Value Unified settlement infrastructure for centralized management of fees and increased efficiency. Payment System Each e-commerce platform incurs different fees, increasing costs. Issue Structure “Low”settlement fees.

© RAKSUL, inc. All rights reserved. 49 Bank Accounts
 Establishment and Management Billing
 Management Deposits and Withdrawals
 Balance Management Transaction Management Finance Financial Platform Business Concept We envision an innovative financial ecosystem that meets the needs of SMEs. In the financial platform business, we aim to build speedy and flexible systems that do not rely on traditional legacy systems by utilizing modern technologies such as AWS and microservices. Through this approach, we will contribute to solving accounting and financial issues by improving cash flow and providing simple payment solutions, especially for small and medium-sized enterprises (SMEs).
 In order to enhance services that meet the needs of SMEs for simplified settlement and improved cash flow, we will utilize credit and purchase data to provide more sophisticated and flexible financial services. We also aim to enhance monetization by providing an integrated user experience based on RAKSUL ID and creating synergies among businesses to promote customer Share of Wallet expansion and lock-in effects.We will continue to provide new value to the financial industry by pursuing expansion of our diverse service areas and business over the medium to long term.
 Engineering Organization

© RAKSUL, inc. All rights reserved. Engineering Organization 50 Each year, engineers, designers, and PdMs who support the expansion of the RAKSUL Group participate in the program. Teams are freely organized, with members from different business units and different from the usual development teams forming diverse teams to face new ideas.In the past, the HackWeek has produced a variety of results, including internal tools and new services, and in some cases, ideas generated during the HackWeek have led to actual businesses. The style of maximizing synergy and aiming for further growth is a unique feature of the HackWeek conducted by the RAKSUL Group. In-house hackathons are held to conduct intensive development on a theme over a certain period of time. Hackathon "HackWeek"

© RAKSUL, inc. All rights reserved. Engineer Support System We have various systems in place to encourage engineers' desire to learn and take on new challenges. Skill Improvement Support System The company will pay up to 15,000 yen (excluding tax) per person per year to attend outside seminars and training, attend language schools, take certification exams, and purchase textbooks for those exams, if the company approves. This system allows employees to voluntarily improve their skills.*Depends on the course. Language Acquisition Support This system allows employees to take English lessons with a full-time in-house English instructor.One-on-one or group lessons are available free of charge during working hours.*Only applicable to certain employees. Technical book purchase program This system allows employees to purchase technical books when approved by the company. This system allows employees to voluntarily improve their skills.
 (*Engineers, designers, and PdMs are eligible for this system. Support for speaking at overseas conferences
 The company will cover the costs of attending overseas conferences (travel and lodging) Support for community management
 We support the development of OSS by reducing the burden of community activities both inside and outside the company . Support for authorship and speaking engagements
 We support opportunities for engineers to share their knowledge and achievements.
 I n addition to the "K anael" welf are system, we have estab lished various systems f or engineers to create an environment where they can max imiz e their ab ilities and grow sustainab ly.We aim to create We help individual engineers b uild long- term careers so that they can realiz e their dreams and goals. 51 Engineering O rganiz ation

© RAKSUL, inc. All rights reserved. Technology Stacks https://www.snowflake.com https://azure.microsoft.com https://cloud.google.com https://aws.amazon.com https://www.getdbt.com dbt https://www.jenkins.io https://www.terraform.io https://www.docker.com https://circleci.com CircleCI https://testcafe.io https://playwright.dev Playwright https://jestjs.io JEST https://nuxtjs.org https://graphql.org https://www.typescriptlang.org https://jp.vuejs.org https://ja.reactjs.org React https://slack.com https://www.notion.so https://github.co.jp Engineering Organization Others Frontend Server Side Infrastructure Testing References https://developers.google.com/protocol-buffers https://rubyonrails.org https://www.php.net https://www.ruby-lang.org https://www.rust-lang.org Python https://www.python.org https://go.dev 52 https://clickup.com

© RAKSUL, inc. All rights reserved. Thank you. 53