On July 4, 2022, Oi Electric Co., Ltd. announced the Voting Results about Proposals at the 98th Ordinary General Meeting of Shareholders held on June 29, 2022. Proposals 1 to 5 were approved and Proposal 6 about Stock split was rejected. Although the activist Unearth International Limited had a position against Proposal No.

4 of Determination of remuneration for granting restricted shares to directors who are Audit and Supervisory Committee members, and Proposal No. 5 of Continuation of Countermeasures "Takeover Defense Measures" about concerning Large-Scale Purchase of Shares of the Company, these proposals were approved by Shareholders Vote. The following Proposas also have been approved: Proposal No.

1 about Partial amendment of articles of incorporation, Proposal No. 2 Appointment of 5 directors: Ko Ishida, Toshiyuki Chiba, Katsumi Nii, Toshiya Okamoto and Kazuhisa Okamoto, and Proposal No. 3 Appointment of 3 directors who are substitute audit and supervisory committee members: Masamitsu Sasaki, Takeshi Motomura and Takeshi Sugimoto.