This is an English translation of the original Japanese-language press release dated June 15, 2023 and is provided for reference purposes only. Readers are advised that the Company does not guarantee the accuracy of the content contained in this report. In the event of any discrepancy between this translation and the Japanese original, the Japanese original shall prevail.

(Security Code: 8114)

June 15, 2023

To Our Shareholders:

NOTICE OF RESOLUTION OF THE 66TH ANNUAL GENERAL MEETING OF SHAREHOLDERS

DESCENTE LTD. (the "Company") is pleased to inform you that the matters noted below were reported and resolved at the 66th Annual General Meeting of Shareholders held on June 15, 2023.

Items Reported:

1. Business Report, Consolidated Financial Statements for the 66th Business Term (from April 1, 2022 to March 31, 2023)

The above item was reported at the meeting.

2. Audit Report on concerning the Consolidated Financial Statements for the 66th Business Term by the Accounting Auditor and the Audit Board

The above item was reported at the meeting.

Items Resolved:

Item 1: Appropriation of Retained Earnings

The item was approved as proposed.

Item 2: Election of Seven(7) Directors

The item was approved as proposed. Seven directors, namely, Shuichi Koseki, Masahiro Morofuji, Motonari Shimizu, Takeshi Shimada, Tomonori Azuma, Seiji Sato and Yasuyo Kasahara were elected and appointed as Directors.

Messrs. Tomonori Azuma, Seiji Sato and Yasuyo Kasahara are Outside Directors.

Item 3: Notice regarding the Amendment of the Transfer Restriction Period under the Restricted Stock Compensation Plan for the Directors of the Company

The item was approved as proposed.

The meeting of the Board of Directors of the Company, convened after this General Meeting of Shareholders, formally appointed the following President and Representative Director, Directoer and Vice President, Senior Managing Executive Officer, and Managing Executive Officer subsequently assumed their offices.

President and Representative Director: Shuichi Koseki

Vice President: Masahiro Morofuji

Senior Managing Executive Officer: Motonari Shimizu

Managing Executive Officer: Takeshi Shimada

Very truly yours,

Shuichi Koseki

President and Representative Director

DESCENTE LTD.

Maruito Namba Building 13F, 1-2-3 Minatomachi Naniwa-ku, Osaka 556-0017 Japan

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DESCENTE Ltd. published this content on 15 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 June 2023 08:15:10 UTC.