Frontier Management Inc. has resolved at the Board of Directors meeting held on February 14, 2024, to change the Representative Director as follows. Name and title of the representative director: (Retired) Name: Masahiro Matsuoka. Former Title: Representative Director, Co-President and Executive Officer and New Position: Director.

With the retirement of Mr. Masahiro Matsuoka, Representative Director Shoichiro Onishi will become President and Executive Officer. Mr. Masahiro Matsuoka is scheduled to retire from a Director of the Company at the conclusion of the 17th Ordinary General Meeting of Shareholders on March 27, 2024. Tadaaki Komori resigned as Director of the Board, Deputy President and Executive Officer, Head of M&A Advisory Department and head of Marketing Department.

Even after retiring from the Board of Directors, Mr. Tadaaki Komori has not changed his responsibilities of Vice President, Executive Officer, Head of the M&A Advisability Department, and Head of Marketing Department. Retiring Audit & Supervisory Board Member (retiring at the close of the 17th Annual General Meeting of Shareholders to be held on March 27, 2024): Kazuhiko Shimokobe as Outside Audit & Supervisory Board Member; Hiroko Nod as Outside Audit & Supervisory Board Member.