Mitsubishi Chemical Holdings Corporation (MCHC) hereby announces, as detailed below, that it has decided to dispose of treasury shares as equity compensation in the form of restricted shares ('Treasury Share Disposition') at the meeting of the Corporate Executive Officers Committee held today based on delegation from the Board of Directors.

Purpose and Reason for Disposition

MCHC decided at a meeting of its Compensation Committee held on February 28, 2020, to introduce a new program involving equity compensation in the form of restricted shares ('the Program') for corporate executive officers for the purpose of providing an incentive for the continuous improvement of MCHC's corporate value and shareholder value over the medium to long term to enhance retention as well as share further value with shareholders.

MCHC also decided at a meeting of its Compensation Committee held today to grant 333,265 common shares of MCHC ('Allotted Shares') to 11 (eleven) corporate executive officers ('Target Corporate Executive Officer(s)') after taking into account the purpose of awarding restricted shares, MCHC's performance, the scope of duties of each Target Corporate Executive Officer, and various other circumstances. In addition, this grant will be made without requiring the payment of money or the provision of assets in exchange. As such, it was decided at a meeting of the Corporate Executive Officers Committee today to dispose of treasury shares.

Contact:

Osamu Shimizu

Director

Corporate Communications Div.

TEL: [+81] (0)3-6748-7120

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