CHANGE Holdings Inc. at its board meeting held on December 15, 2023, resolved to establish an intermediate holding company as the company?s subsidiary to promote M&A of cybersecurity companies and to restructure the cybersecurity industry. Outline of the Intermediate Holding Company (planned): Name: CyLeague Holdings Inc. Head office: TOKYU REIT Toranomon Building 6F, Toranomon 3-17-1, Minato-ku, Tokyo. Description of business: Cybersecurity and digital transformation-related businesses as well as shareholding of companies engaged in these businesses, and support and management of their business activities.

Common share: JPY 99 million. Date of establishment: In December 2023. Operating opening day: February 2024 (planned).