Announcement of the Amount of Share Capital to be Reduced

SHIFT Inc. (“SHIFT,” headquartered in Minato-ku, Tokyo, Japan; Masaru Tange, CEO and Representative Director) announced today that it has confirmed the amount of share capital to be reduced that it has announced on October 12th.

1. Amount of Share Capital to be Reduced
58,932,500 JPY

2. Schedule
(1) Resolution date at the meeting of Board of Directors: October 26th, 2021
(2) Resolution date at the ordinary general meeting of shareholders: November 26th, 2021
(3) Final date to accept disagreement from creditors: January 6th, 2022 (expected)
(4) Effective date: January 7th, 2022 (expected)