MODEC : Management Change - Directors and Corporate Auditors

February 10, 2022

MODEC, Inc.

Takeshi Kanamori, President & CEO

Code: TSE 6269

Contact: Corporate Planning & Strategies Dept.

TEL: [phone]

Management Change - Directors and Corporate Auditors

At its Board of Directors Meeting held on February 10, 2022, MODEC, Inc. decided on a plan for change in its Directors and Corporate Auditors. The appointment is subject to the approval at the Annual General Meeting of the Shareholders to be held on March 29, 2022.

1. Candidate for New Director

Name	Current Position
Yasuhiro Takano	Executive Managing Officer
Katsuyuki Imaizumi	Executive Managing Officer
Ryoichi Oka (*)	President & CEO, Representative Director,
Mitsui E&S Holdings Co., Ltd.

1. Appointment of Ryoichi Oka will be effective on April 1, 2022.

2. Candidate for New External Director

Name	Current Position
Koichi Wakana	Operating Officer of Infrastructure Projects Business Unit,
MITSUI & CO., LTD.

1. Directors to Resign Minoru Sawada (**) Takeyuki Takahashi
   (**) Minoru Sawada will continue to serve as Managing Executive Officer even after his resignation as a Director.
2. External Director to Resign Kazumasa Nakai
3. Candidate for New Corporate Auditor

Name	Current Position
Takamura Yoshihiro	Deputy Director

6. Corporate Auditor to Resign Katsunori Aikyo