On February 13, 2024, Ezaki Glico Co., Ltd., stated in its press release that it had decided to oppose the shareholder proposals by Longchamp SICAV. The proposals were as follows, (i) Amendments to the Articles of Incorporation regarding disclosure of measures to achieve cost of capital and stock price conscious management, (ii) Acquisition of treasury stock, (iii) Amendment to the Articles of Incorporation regarding the organization for determining dividends from surplus, (iv) Approval of the amount of compensation under the restricted stock compensation plan. The proposals have been opposed for the following reasons, (i) The company believes that the disclosure of such information should be on a case to case basis based on the highly flexible and fluid nature of management strategies and business environment, and that it is not appropriate to stipulate such a provision in the Articles of Incorporation, (ii) The company states that if such a proposal is passed ?investment for growth?, ?funds for business operations?

and ?shareholder returns? will be greatly impaired and there is a risk that it will damage the company?s medium-to-long term corporate value and common interests of shareholders, (iii) The company believes that dividends from surplus can be determined by a resolution of Board of Directors instead of General Meeting of Shareholders for the company to flexibly determine the dividend amount after considering cash allocation from the perspective of improving corporate value and common interests of shareholders, (iv) The company is constantly considering the establishment of corporate governance to enhance value creation for the realization of the company?s corporate purpose and to contribute to common interests of shareholders. It will continue to consider increasing the ratio and expansion of stock based compensation to increase the corporate value however, it believes that this proposal is out of line with the current company performance.