JSR : Announcement of Implementation of the early retirement incentive program

Translation

Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Marth 8, 2021

To whom it may concern,

Company name: JSR Corporation

Representative: Eric Johnson, Representative Director, CEO (Code #4185, Tokyo Stock Exchange)

Inquiries to: Yoshiko Takeda, General Manager Corporate Communication Dept.

TEL [phone](Japan) [phone] (from abroad)

Announcement of Implementation of the early retirement incentive program

Tokyo, Japan, March 8, 2021- JSR Corporation (Representative Director, CEO: Eric Johnson, hereinafter referred to as "JSR") announced that its Board of Directors at the meeting held today, on March 8, 2021, has resolved to implement an early retirement incentive program for its employees.

1. Reasons for the Early Retirement Incentive Program

JSR is committed to the transformation of its business and management structures in support of its ongoing efforts to maintain a resilient and sustainable organization over the long term. In particular, we have focused on our Elastomer business and been taking immediate measures to improve profitability in order to transform the business structure into a more robust one over the medium to long term by optimizing production capacity and product portfolio, rationalizing pricing, and significantly improving operational efficiency. Additionally, we are implementing structural reforms without limitations throughout the organization, including the reorganization of business and product segments. As one of these measures, we have decided to implement an early retirement incentive program.

2.

Overview of the Early Retirement Incentive Plan

• 1. Eligible Employees: As of June 30, 2021, employees who are at least 40 years of age and have been with the company for at least three years, and who are engaged in Elastomer business, employees of the company who belong to plants or laboratories related to Elastomer business, and employees of the company who are on secondment to group companies related to Elastomer business.

• 2. Target Number of Applicants: Approximately 100 people

• 3. Application Periods: April 19 to April 30, 2021

• 4. Retirement Date: June 30, 2021

• 5. Offers:  In addition to the regular retirement allowance, a premium retirement allowance will be paid.  Providing outplacement services through an outplacement company.

3. Impact on Financial Performance

The costs associated with the implementation of the premium retirement allowance and outplacement services to be incurred in connection with this early retirement incentive program are not determined yet, as the number of applicants and the total amount are unknown. If there is a need to revise the earnings forecast in the future, we will disclose it promptly.

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