ENEOS Holdings, Inc. announced that the Board of Directors has resolved the following dispositions and changes at a meeting held on December 19, 2023. The company announced the Dismissal of Saito Takeshi as Representative Director and President and resignation of Yatabe Yasushi as Representative Director Executive Vice President Assistant to President (Secretariat, Internal Audit Dept., Internal Control Dept., Corporate Planning Dept., Corporate Strategic Investment Dept., Carbon Neutral Strategy Dept., Controller Dept., Finance Dept., Investor Relations Dept., Human Resources Dept., Public Relations Dept., General Administration Dept., Legal & Corporate Affairs Dept.) Responsible for Secretariat, Internal Audit Dept. The Sunaga Kotaro's designation has been changed from Senior Vice President Responsible for Corporate Planning Dept., Corporate Strategic Investment Dept., Carbon Neutral Strategy Dept. to Senior Vice President. Reason for the Dispositions and Changes. Reason for the Dispositions and Changes: At the end of November of this year, Compliance Hotline received a report from a whistleblower that Representative Director and President Saito Takeshi ("Mr. Saito") hugged a woman while drunk at a social gathering, which was attended by Representative Director and Executive Vice President Yatabe Yasushi ("Mr. Yatabe") and Senior Vice President Sunaga Kotaro ("Mr. Sunaga"). As a result of the investigation of the whistleblower's report, which was promptly conducted by outside attorneys under the leadership of the Audit and Supervisory Committee, the
content of the report was determined to be accurate. Regarding Mr. Yatabe, the company has determined that he is responsible for causing inappropriate behavior by Mr. Saito at the social gathering, although he is managing ENEOS group together with Mr. Saito with representative authority, and as the head of the compliance department, he is in a position of promoting the said measures for respect for human rights and compliance. The Board of Directors takes seriously the fact that inappropriate behavior by top management has occurred two years in a row, and in light of the Rules of Procedure for Disposition of Officers,
the Board of Directors has determined that it is appropriate to dismiss Mr. Saito as Representative Director and President (and recommend that he resign as a Director), recommend that Mr. Yatabe resign as a Director (including recommending resignation from all current positions, including Representative Director and Executive Vice President), and reduce Mr. Sunaga's compensation. As a result, the Board of Directors resolved to dispose of and change the positions of the three people. Mr. Saito and Mr. Yatabe accepted the recommendation for resignation. New Management: Until the new management structure from April 2024 onwards will be determined, Representative Director and Executive Vice President Miyata Tomohide will act on behalf of President, with Director and Executive Vice President CDO Shiina Hideki and Director and Executive Vice President Inoue Keitaro taking the lead in business execution together with Mr. Miyata. The new management structure will be carefully deliberated by the Nominating Advisory Committee and the Board of Directors.

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