Notice Regarding the Status of a Repurchase of Shares of Common Stock

On October 12, 2022 NEC Corporation ("NEC") reported the status of a repurchase of shares of its own common stock, pursuant to Article 459, Paragraph 1 of the Companies Act of Japan and NEC’s Articles of Incorporation, which was approved at the Board of Directors meeting held on August 29, 2022, as follows (Press release, NEC, OCT 12, 2022, View Source [SID1234621931]):

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(1)Type of shares repurchased:
Common stock
(2)Total number of shares repurchased:
1,505,800 shares
(3)Aggregate value of shares repurchased:
7,455,282,000 yen
(4)Repurchase period:
September 1, 2022 – September 30, 2022
(5)Method of repurchase:
Open market purchase through the Tokyo Stock Exchange based on a discretionary trading contract
(For Reference)
1. Details of Matters Relating to the Repurchase (as announced on August 29, 2022)

(1)Type of shares to be repurchased:
Common stock
(2)Total number of shares to be repurchased:
Up to 6.7 million shares
(2.46% of total shares outstanding excluding treasury stock)
(3)Aggregate repurchase price:
30 billion yen (maximum limit)
(4)Repurchase period:
August 30, 2022 – March 31, 2023
(5)Method of repurchase:
Open market purchase through the Tokyo Stock Exchange based on a discretionary trading contract
Depending on market trends and other factors, all or part of the planned repurchase may not be completed.

2. Total number and aggregate value of shares repurchased pursuant to the resolution approved at the above-mentioned Board of Directors meeting (as of September 30, 2022)

Total number of shares repurchased:
1,786,100 shares
Aggregate value of shares repurchased:
8,879,015,000 yen