On July 4, 2022, Iwasaki Electric Co., Ltd. announced the Voting Results of shareholders resolved at the 107th Ordinary General Meeting of Shareholders held on June 28, 2022 The Proposals 1 to 5 of the Company were approved, and Proposals 6 to 8 from shareholders were rejected. Specifically, the Proposal No. 1 about Appropriation of Surplus: The year-end dividend shall be 130 yen per share, and the dividend payment commencement date shall be July 19, 2022, the Proposal No.

2 about Partial Amendment to the Articles of Incorporation: Articles 14 and 31 of the Articles of Incorporation will be amended in order to prepare for the introduction of an electronic provision system for materials for general meetings of shareholders and to enhance and strengthen the audit system, Proposal No. 3 Election of Yoshitake Ito, Masanori Kato, Sumio Uehara, Seiji Aoyama, Kenji Oya, Tsuneo Tauchi, Junko Sunaga, and Kenji Ikeda as directors, Proposal No. 4 Election of Masayuki Kobayashi as auditor, and Proposal No.

5 about Appointment of Ark Limited Liability Audit Corporation as Accounting Auditor. On the other hand, the proposals that were not approved by the shareholder vote are the following: Proposal No. 6 about Appropriation of Surplus, The year-end dividend will be 209 yen less the dividend per share approved in Proposal No.

1, Proposal No. 7 about Amendments to the Articles of Incorporation pertaining to cross-shareholdings, Article 46 "verification of purpose of cross-shareholdings and disclosure of results" is newly added to the Articles of Incorporation, and Proposal No. 8 about Dismissal of Naoto Suzuki and Hisashi Inagaki as auditors, and Proposal No.

9 about Dismissal of Shozo Watanabe Substitute Auditor.