X0508 4 2024-03-06 0001930313 Pono Capital Two, Inc. PTWO 0002010776 ZUU Co. Ltd. 3-6-28 AOBADAI, MEGUROKU TOKYO M0 154-0042 JAPAN true 0002010795 ZUU Funders Co. Ltd. 3-6-28 AOBADAI, MEGUROKU TOKYO M0 154-0042 JAPAN true 0002010768 ZUU Target Fund for SBC Medical Group HD Investment Partnership 3-6-28 AOBADAI, MEGUROKU TOKYO M0 154-0042 JAPAN true 0002010816 Tomita Kazumasa 3-6-28 AOBADAI, MEGUROKU TOKYO M0 154-0042 JAPAN true false Class A Common Stock 2024-03-06 4 P 0 23 12 A 1398133 I See footnote Class A Common Stock 2024-03-07 4 P 0 8 12 A 1398141 I See footnote Class A Common Stock 2024-03-08 4 P 0 22 12 A 1398163 I See footnote Warrants to purchase Class A Common Stock 11.5 Class A Common Stock 69102 69102 I See footnote The reported securities are held directly by ZUU Funders Co. Ltd. ("Funders") and may be deemed to be held indirectly by ZUU Target Fund for SBC Medical Group HD Investment Partnership (the "Fund"), ZUU Co. Ltd. ("ZUU"), and Kazumasa Tomita ("Mr. Tomita" and, together with Funders, the Fund, and ZUU, the "Reporting Persons"). Funders is the operating partner of the Fund and a wholly-owned subsidiary of ZUU. ZUU is majority owned and controlled by Mr. Tomita. The filing of this Form 4 shall not be construed as an admission that the Reporting Persons are or were for the purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or otherwise the beneficial owners of any of the securities of the issuer reported herein. Pursuant to Rule 16a-1, the Reporting Persons disclaim such beneficial ownership, except to the extent of their pecuniary interest. The warrants become exercisable on the later of (i) 30 days after the completion of the issuer's initial business combination and (ii) 12 months from the effective date of the registration statement on Form S-1 (File No. 333-265571) for registrant's initial public offering. The warrants expire five years after the completion of the issuer's initial business combination or earlier upon redemption or liquidation, as described in the issuer's prospectus filed with the U.S. Securities and Exchange Commission. The Reporting Persons have acquired a total of 69,102 units, with each unit consisting of one share of Class A Common Stock and one redeemable warrant, and each warrant entitling the holder thereof to purchase one share of Class A Common Stock for $11.50 per share. Zuu Co. Ltd. /s/ Kazumasa Tomita Name: Kazumasa Tomita Title: President 2024-03-08 ZUU Funders Co. Ltd. /s/ Kazumasa Tomita Name: Kazumasa Tomita Title: President 2024-03-08 ZUU Target Fund for SBC Medical Group HD Investment Partnership /s/ Kazumasa Tomita Name: Kazumasa Tomita Title: President of Zuu Funders Co. Ltd., its Operating Partner 2024-03-08 Kazumasa Tomita /s/ Kazumasa Tomita 2024-03-08