MODEC : Change of President

This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between the translated version and the Japanese original, the original version shall prevail. The Company assumes no

responsibility for this translation or for any direct, indirect or any other form of damage arising from the translation.

April 2, 2021

MODEC, Inc.

Yuji Kozai, President & CEO

Code: TSE 6269

Contact: Corporate Planning & Strategies Dept.

TEL: [phone]

Change of President

At its Board of Directors Meeting held on April 2, 2021, MODEC, Inc. decided on the following changes of the president.

(1) Details of changes effective as of April 5, 2021

Name	New Title	Current Title
		Representative Director,
Yuji Kozai	Executive Advisor	President & CEO (Chief Executive
		Officer)
	Representative Director,	Representative Director,
Takeshi Kanamori	President & CEO (Chief Executive
Executive Vice President
	Officer)

1. Reason for changes
   Yuji Kozai, Representative Director, President & CEO, offered to resign from the office of Representative Director, President & CEO, as well as the office of Director, for reasons of ill-health. The changes are also to further drive growth and increase corporate value under new leadership amidst changes in the business environment.
2. Profile of the new president

Name:	Takeshi Kanamori
Date of Birth:	September 7, 1956
Education:	Graduated from Department of Law, Waseda University in March 1980
Career History:	Apr. 1980	Joined Mitsui & Co., Ltd.
	Oct. 2005	GM, First Projects Development Div. (Tokyo) of Mitsui & Co., Ltd.
	Aug. 2007	GM, Second Projects Development Div. of Mitsui & Co., Ltd.
	Oct. 2009	Operating Officer, Infrastructure Projects Business Unit of Mitsui &
		Co., Ltd.
	Mar. 2010	Chairman & President of Mitsui & Co. (SHANGHAI) Ltd.
	Apr. 2011	President of Mitsui & Co. (SHANGHAI) Ltd.
		Managing Officer Deputy Chief Representative in China of Mitsui &
		Co., Ltd. Headquarter
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This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between the translated version and the Japanese original, the original version shall prevail. The Company assumes no

responsibility for this translation or for any direct, indirect or any other form of damage arising from the translation.

Apr. 2012 Managing Officer

Chief Operating Officer, Infrastructure Projects Business Unit of Mitsui

& Co., Ltd.

Mar. 2013 External Director of MODEC, Inc.

Apr. 2013 Executive Managing Officer

Chief Operating Officer, Infrastructure Projects Business Unit of Mitsui

& Co., Ltd.

Apr. 2016 Senior Executive Managing Officer

Executive Chief Representative in China of Mitsui & Co., Ltd.

Mar. 2018 Director, Executive Vice President of MODEC, Inc.

Jul. 2018 Director, Executive Vice President and CCO (Chief Compliance Officer) of MODEC, Inc.

Mar. 2021 Representative Director, Executive Vice President and CCO (Chief Compliance Officer) of MODEC, Inc.

Apr. 2021 Representative Director, Executive Vice President of MODEC, Inc. (Current Position)

Number of Company's shares held: 7,000 shares (as of March 31, 2021)

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