On February 24, 2023, Oasis Management Company Ltd announced that Fujitec Company Ltd shareholders supported the appointment of 4 of Oasis’ independent Outside Director candidates to the Company’s Board, sending a strong message in favor of change and enhanced governance. In addition, Company’s shareholders also remove 3 incumbent Company’s Directors, including the Chairman, and excluding Mami Indo, who had resigned as a director just before the EGM and reject the Company’s 2 nominee director candidates. Oasis is committed to engaging constructively with the newly constructed Board on meaningful change, including further relieving the Company’s stakeholders from Uchiyama Family control.