ENECHANGE announced that the Company resolved at the Board of Directors meeting held on February 10, 2023, to make the following changes to its representative directors effective from March 30, 2023. Reason for Change: The Company attaches great importance to the establishment of strong corporate governance based on the separation of board and management functions. In this respect, the company plans to review the composition of the Board of Directors and shift to a new management and executive structure through the introduction of senior executive officers, in order to streamline the Board of Directors, facilitate flexible decision-making and, promote the delegation of business execution authority.

Specifically, the existing structure of 8 directors (3 internal directors and 5 outside directors) will be changed to 5 directors (1 internal director and 4 outside directors). The policy is to establish a new system of senior executive officers, who are responsible for the execution of operations, and to promote autonomous growth in their areas of responsibility. In accordance with the above policy, Ippei Arita will step down as Representative Director and assume the position of Senior Executive Officer /CTO on March 30, 2023, the day his term as Director expires, and will continue to work on the execution of operations in his area of responsibility.