mui Lab is pleased to announce that it has raised a total of approximately 300 million yen through a third-party allotment of new shares with Miyako Kyodai Innovation No.2 Investment Limited Partnership as the lead investor and giftee Corporation, Shinshu Startup and Succession Support Investment Limited Partnership, and funds managed by three existing investment companies as the subscribers. The total amount of funds raised will be approximately 300 million yen. Through this fundraising, we will promote active recruitment of key software development personnel in the growing smart home market, as well as alliances with partner companies and aggressive investment in the development of our own products and services.

mui Lab was created as a research and development startup of Calm Technology, headquartered in Kyoto, Japan, and has focused its entry into the "smart home market" on business development. Through partnerships with previous partners, mui Lab has promoted a peaceful smart home experience by developing and delivering the mui platform, a fusion of hardware and software.

To date, mui Lab has won two CES Innovation Awards at the world's largest technology trade show (2019 & 2022) for the mui Board, the world's first wooden smart home controller, as well as the mui Smart Home Platform respectively.

In August 2022, in collaboration with giftee Corporation, the "mui Kurashi application" equipped with a DR (Demand and Response) function that encourages people to save electricity was provided to residents of EFUTE Kita Sanjo, a rental housing project of Kitagas LIFRONT Co. This project is a system in which points are issued to those who cooperate in energy-saving measures. This project is an example of high compatibility between smart home systems and energy management, which creates a comfortable touch point between smart home devices and its users, thereby building an organic relationship between companies and consumers and impacting environmental issues.

In addition, at the release announcement of the international standard "Matter" on November 3, 2022, we announced the "Matter-compatible version of mui board 2nd generation" as the first Matter-compatible company in Japan.

Matter" is an industry standard for interconnecting smart home devices, and is expected to promote innovation and spread the smart home. By being the first to support "Matter," mui Lab will be able to use its multi-admin feature to provide a smart home experience that respects the personal time of individuals and families in a way that coexists with existing smart home platforms that offer convenience to people's lives. This new capability enables us to continue focusing on partnerships with more global companies.

<Comments of New Investors>

◉ Mr. Rui He, Miyako Capital
We highly evaluate mui Lab as a Kyoto-based venture company that has successfully developed and implemented products and solutions that embody the smart home concept by successfully integrating art and technology. We have high expectations for the company's rapid growth through the provision of Matter-enabled high-value-added products and services, and we will support its further enhancement of design and technology capabilities through collaboration with Kyoto University and other research institutions, as well as its business development "from Kyoto to the world".

◉ Mr. Tatsuya Suzuki, giftee Corporation
We decided to invest in mui Lab because we are very attracted to the company, which creates calm experiences that are close to people's hearts in the digital domain of the smart home. We are confident that this partnership will accelerate the realization of our vision of "providing services that foster various connections between people, companies, and communities, centered around e-gifting. We will work together to create a society that warmly connects people and businesses, starting with the Demand Response ("DR") area where we are already collaborating.

◉ Mr. Ryuto Ishizaka, Shinshu Startup
mui Lab has important software development facilities in Matsumoto and Shiojiri, Nagano Prefecture, and recruits engineers mainly in Nagano Prefecture, which is very important to the company. The company, led by CEO, Kaz Oki and CTO, Takuya Kubota, a native of Ina City, Nagano Prefecture, has the potential to grow into a leading company in the smart home market as a unique and neutral platform covering the electricity, gas, and real estate areas, featuring the licensing of core technologies and software development and provision in collaboration with large companies. We evaluated the company as having the potential to grow into a leading company in the smart home market. We have high expectations for the company's future.

<Underwriter>

• Miyako Kyodai Innovation No.2 Investment Limited Partnership (Miyako Capital Co., Ltd.)
• giftee Corporation
• Shinshu Startup & Succession Support Investment Limited Partnership (Future Venture Capital Co., Ltd.)
• EEI No.4 Innovation & Impact Investment Limited Partnership (Kankyo Energy Investment Co., Ltd.)
• Monozukuri No.2 Investment Limited Partnership (Monozukuri Ventures Inc.)
• Mizuho Growth Support No.4 Investment Limited Partnership (Mizuho Capital Co., Ltd.)