Nissin Foods : Notice of Determination of Issuance of Stock Options as Compensation (Stock Acquisition Rights) to the Directors of the Company's Subsidiaries

June 28, 2022

Koki Ando

President and Representative Director, CEO

Notice of Determination of Issuance of Stock Options as

Compensation (Stock Acquisition Rights) to the Directors of the

Company's Subsidiaries

NISSIN FOODS HOLDINGS Co., Ltd. (President and Representative Director, CEO: Koki

Ando: hereinafter "the Company") announces that some of the terms regarding the offering of stock options as compensation (stock acquisition rights) to 15 directors of its subsidiaries (including one director who has left office), which had not been determined when the resolution was approved by the Board of Directors held on June 1, 2022, have been determined today. Details are as follows.

1. Name of the stock acquisition rights
   The 53rd series of stock acquisition rights of NISSIN FOODS HOLDINGS Co., Ltd.
2. Amount to be paid in for a stock acquisition right (hereinafter "Paid-in Amount") 8,951yen per stock acquisition right

3．Recipients of the stock acquisition rights and number of stock acquisition rights to be allotted

14 directors of the Company's subsidiaries ：5,502

1 employee of the Company's subsidiaries： 241（※）

（※）The employee was a director of the Company's subsidiary, but retired on April 1, 2022 and is now an employee of the Company's subsidiary.

The Company's subsidiaries assume the obligation to pay monetary compensation equivalent to the amount calculated by multiplying the Paid-in Amount by the number of stock acquisition rights to be granted to the directors of the Company's subsidiaries (including one director who has left office) who will be holders of stock acquisition rights. The Company assumes the obligation of its subsidiaries to pay monetary compensation. The directors of the Company's subsidiaries (including one director who has left office) to whom stock acquisition rights will be granted shall set off their claims for the monetary compensation against the Company in lieu of the payment of the Paid-in Amount.

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