MODEC : Management Change – Directors and Executive Officers

February 22, 2023

MODEC, Inc.

Takeshi Kanamori, President & CEO

Code: TSE 6269

Contact: Corporate Planning & Strategies Dept.

TEL: [phone]

Management Change - Directors and Executive Officers

At its Board of Directors Meeting held on February 22, 2023, MODEC, Inc. decided on a plan for change in its Directors effective as of March 28, 2023 and Executive Officers effective as of April 1, 2023. The appointment of Directors is subject to the approval at the Annual General Meeting of the Shareholders to be held on March 28, 2023.

1. Candidate for New Director (effective as of March 28, 2023)

Name	New Title	Current Title
		General Manager, Finance & Accounting
Koichi Watanabe	External Director	Department, Mitsui E&S Holdings Co., Ltd.
		Director, Mitsui E&S Business Service Co., Ltd.

2. Directors to Resign (effective as of March 28, 2023)

Name	New Title	Current Title
Katsuyuki Imaizumi * Executive Managing Officer	Director
Executive Managing Officer

Ryoichi Oka

Resign

External Director

• Katsuyuki Imaizumi will resign from Director as he moves to Rio de Janeiro and will be promoted from Executive Managing Officer to Senior Executive Managing Officer as of April 1, 2023.

3. Promoted Executive Officers (effective as of April 1, 2023)

Name	New Title	Current Title
Yasuhiro Takano	Director	Director
	Senior Executive Managing Officer	Executive Managing Officer
	Group CFO (Chief Financial Officer)	Group CFO (Chief Financial Officer)
Katsuyuki Imaizumi	Senior Executive Managing Officer	Director
	Group COO (Chief Operating Officer)	Executive Managing Officer
	Head of Project Development	Group COO (Chief Operating Officer)
	Head of Lease & Operations	Head of Project Development
	Head of HSSE	Head of Lease & Operations
	President & CEO (Chief Executive Officer)	Head of HSSE
	of MODEC International, Inc. (USA)	President & CEO (Chief Executive Officer)
		of MODEC International, Inc. (USA)

	Osamu Toriumi	Executive Managing Officer	Executive Officer
		CCO (Chief Compliance Officer)	CCO (Chief Compliance Officer)
		Head of Legal	Head of Legal
	Soichi Ide	Executive Managing Officer	Executive Officer
		CDO (Chief Digital Officer)	CDO (Chief Digital Officer)
		Head of Project Execution	Head of Project Execution
		President & CEO (Chief Executive Officer)	President & CEO (Chief Executive Officer)
		of MODEC Offshore Production Systems	of MODEC Offshore Production Systems
		(Singapore) Pte. Ltd. (Singapore)	(Singapore) Pte. Ltd. (Singapore)
		President & CEO (Chief Executive Officer)	President & CEO (Chief Executive Officer)
		of Offshore Frontier Solutions Pts. Ltd.	of Offshore Frontier Solutions Pts. Ltd.
		(Singapore)	(Singapore)
Executive Officers (Effective as of April 1, 2023)
	Takeshi Kanamori *	President & Chief Executive Officer
	Yasuhiro Takano *	Senior Executive Managing Officer
	Katsuyuki Imaizumi	Senior Executive Managing Officer
	Minoru Sawada	Executive Managing Officer
	Osamu Toriumi	Executive Managing Officer
	Soichi Ide	Executive Managing Officer
	Ryo Suzuki	Executive Officer
	Mitsuru Sato	Executive Officer
	Koichi Matsumiya	Executive Officer
	Arun Duggal	Executive Officer

*Concurrently assuming the position of Director. The appointment is subject to the approval at the Annual General Meeting of the Shareholders to be held on March 28, 2023.