Darryl Nakamoto - Aug 4, 2022 Form 3 Insider Report for Pono Capital Two, Inc. (PTWO)

Role: Chief Executive Officer
Signature: /s/ Darryl Nakamoto, by Nelson Mullins Riley & Scarborough LLP with Power of Attorney
Stock symbol: PTWO
Transactions as of: Aug 4, 2022
Transactions value $: $0
Form type: 3
Date filed: 8/10/2022, 04:24 PM

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	PTWO	Class B Common Stock							Aug 4, 2022	Class A Common Stock	0		See footnote 1	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The shares of Class B common stock have no expiration date and will automatically convert into shares of Class A common stock at the time of the issuer's initial business combination on a one-for-one basis, subject to adjustment as set forth in the issuer's registration statement on Form S-1 (File No. 333-265571).