Nippon Sheet Glass : Matters Disclosed on the Internet Concerning Notice of Convening the 156th Ordinary General Meeting of Shareholders

Note: This document is a translation for the convenience of non-Japanese speakers. In the event of any discrepancy between this translation and the original Japanese document, the latter shall prevail.

To Our Shareholders

Matters Disclosed on the Internet Concerning Notice of Convening the 156th Ordinary General Meeting of Shareholders

• "IV. Matters Related to the Stock Acquisition Rights, etc." in the Business Report………………………………………………………1

• Consolidated statement of changes in equity……………………2
  ③ Notes to the Consolidated Financial Statements ………………4
  ④ Statement of changes in net assets ………………………………30
  ⑤ Notes to the Financial Statements…………………………………32

Nippon Sheet Glass Company, Limited

We provide shareholders with the matters above with respect to the 156th financial period,

by posting them on the Company's website at https://www.nsg.com/in accordance with the relevant law and ordinance and article 14 of the Articles of Incorporation.

IV. Matters Related to the Stock Acquisition Rights, etc.

Stock Acquisition Rights (Stock Options) as for Compensation Owned by Directors and Executive Officers as of the End of the Fiscal Year

						Type and Number of
			Exercise		No. of Stock	Shares to be Issued	No. of
Category	Name	Issue Price	Exercise Period	Acquisition	with the Exercise of
Price	Holders
				Rights	Stock
						Acquisition Rights

Directors (excluding External Directors) and Executive Officers

Total

Stock acquisition rights

JPY

JPY 1 per

From 28 Sep 2008 to

1,300 Common shares

issued in Sep. 2008

4,975.1

13

(100 Common shares

1

share

27 Sep 2038

(Stock- compensation type)

per share

per right)

Stock acquisition rights

JPY

JPY 1 per

From 1 Oct 2009 to

2,600 Common shares

issued in Sep. 2009

2,551.2

26

(100 Common shares

1

share

30 Sep 2039

(Stock- compensation type)

per share

per right)

Stock acquisition rights

JPY

JPY 1 per

From 1 Oct 2010 to

2,200 Common shares

issued in Sep. 2010

1,394.2

22

(100 Common shares

1

share

30 Sep 2040

(Stock- compensation type)

per share

per right)

Stock acquisition rights

JPY

JPY 1 per

From 15 Oct 2011 to

3,600 Common shares

issued in Oct. 2011

1,262.8

36

(100 Common shares

1

share

14 Oct 2041

(Stock- compensation type)

per share

per right)

Stock acquisition rights

JPY 214.3

JPY 1 per

From 29 Sep 2012 to

16,800 Common shares

issued in Sep. 2012

168

(100 Common shares

2

per share

share

28 Sep 2042

(Stock- compensation type)

per right)

Stock acquisition rights

JPY 882.8

JPY 1 per

From 16 Oct 2013 to

27,600 Common shares

issued in Oct. 2013

276

(100 Common shares

3

per share

share

15 Oct 2043

(Stock- compensation type)

per right)

Stock acquisition rights

JPY 900.9

JPY 1 per

From 1 Oct 2014 to

17,200 Common shares

issued in Sep. 2014

172

(100 Common shares

3

per share

share

30 Sep 2044

(Stock- compensation type)

per right)

Stock acquisition rights

JPY 749.6

JPY 1 per

From 1 Oct 2015 to

27,100 Common shares

issued in Sep. 2015

271

(100 Common shares

3

per share

share

30 Sep 2045

(Stock- compensation type)

per right)

Stock acquisition rights

JPY

JPY 1 per

From 15 Oct 2016 to

39,500 Common shares

issued in Oct. 2016

656.29

395

(100 Common shares

3

share

14 Oct 2046

(Stock- compensation type)

per share

per right)

Stock acquisition rights

JPY

JPY 1

From 30 Sep 2017 to

48,400 Common shares

issued in Sep. 2017

775.06

484

(100 Common shares

4

per share

29 Sep 2047

(Stock- compensation type)

per share

per right)

Stock acquisition rights

JPY

JPY 1

From 27 Jul 2018 to

44,100 Common shares

issued in Jul. 2018

1,117.66

441

(100 Common shares

4

per share

26 Jul 2048

(Stock- compensation type)

per share

per right)

Stock acquisition rights

JPY

JPY 1

From 25 Jul 2019 to

63,200 Common shares

issued in Jul. 2019

669.97

632

(100 Common shares

5

per share

24 Jul 2049

(Stock- compensation type)

per share

per right)

－

－

－

－

2,936

293,600Common

5

shares

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NIPPON SHEET GLASS CO. LTD. & GROUP COMPANIES

Consolidated statement of changes in equity (for the period of 1 April 2021 to 31 March 2022)

					(in JPY millions)
		Equity attributable to the Company's shareholders
						Retained
				Stock		earnings
	Called up	Capital	Treasury	Retained	(Transition
	subscription	adjustment
	share capital	surplus	stock	earnings
	rights	at the IFRS
						transition
						date)
1 April 2021	116,643	155,245	(40)	556	(81,692)	(68,048)
Comprehensive income
for the year:
Profit for the year					4,134
Other comprehensive					12,498
income
Total comprehensive	-	-	-	-	16,632	-
income for the year
Hyperinflation	-	-	-	-	6,889	-
adjustment
Transactions with
owners:
Dividends paid					(1,950)
Share-based	24	25
compensation with
restricted shares
Stock options	42	42		(84)
Purchase of treasury			(1)
stock
Total transactions with	66	67	(1)	(84)	(1,950)	-
owners
At 31 March 2022	116,709	155,312	(41)	472	(60,121)	(68,048)

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	Equity attributable to the Company's shareholders	Non
	Exchange			Total other	Total equity	Total
	Fair value	Hedging	controlling
	translation	comprehe	attributable to	interests	equity
	reserve	reserve	nsive	the Company's
	reserve			income	shareholders
1 April 2021	(47,917)	(8,641)	(3,169)	(59,727)	62,937	16,825	79,762
Comprehensive income
for the year:
Profit for the year				-	4,134	2,625	6,759
Other comprehensive	26,580	1,010	33,145	60,735	73,233	(635)	72,598
income
Total comprehensive	26,580	1,010	33,145	60,735	77,367	1,990	79,357
income for the year
Hyperinflation	-	-	-	-	6,889	6,039	12,928
adjustment
Transactions with
owners:
Dividends paid				-	(1,950)	(790)	(2,740)
Share-based				-	49		49
compensation with
restricted shares
Stock options				-	-		-
Purchase of treasury				-	(1)		(1)
stock
Total transactions with	-	-	-	-	(1,902)	(790)	(2,692)
owners
At 31 March 2022	(21,337)	(7,631)	29,976	1,008	145,291	24,064	169,355

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Notes to the consolidated financial statements (English translation)

Summary of significant accounting policies

1. Preparation of Consolidated Financial Statements
   The consolidated financial statements are prepared in accordance with International Financial Reporting Standards (IFRS) with some omissions of disclosure items pursuant to the latter part of the first paragraph, Article 120 of the Ordinance for Companies Accounting.
2. Scope of consolidation
   Number of consolidated subsidiaries and name of major consolidated subsidiaries

Number of consolidated subsidiaries is 187. Major consolidated subsidiaries are;

NSG Building Products Co. Limited, Pilkington United Kingdom Limited, Pilkington Automotive Limited, Pilkington Technology Management Limited, Pilkington Deutschland AG, Pilkington Automotive Deutschland GmbH, Pilkington Automotive Poland Sp. zo.o., Pilkington Italia SpA, NSG Glass North America Inc., Pilkington North America Inc., Vidrieria Argentina S.A., Pilkington Brasil Limitada, NSG Vietnam Glass Industries Limited, NSG Holding (Europe) Limited, NSG UK Enterprises Limited, Pilkington Group Limited, Vidrios Lirquen S.A.

3. Application of equity method

Number of joint ventures and associates accounted for by the equity method and name of major joint ventures and associates

Number of Joint ventures and associates accounted for by the equity method is 22 (Cebrace Cristal Plano Limitada and other 21 affiliated companies).

4. Accounting policies and practices

1. Financial instruments

The Group classifies its financial instruments in the following categories: financial assets and liabilities at fair value through profit or loss, financial assets and liabilities held at amortized cost, and financial assets held at fair value through other comprehensive income.

Management determines the classification of its investments at initial recognition and re-evaluates this designation at every reporting date. The evaluation considers the characteristics of the cash flows generated by the investments and the Group's business model rationale for holding the investments.

- 4 -