On July 1, 2022, Sk Kake Co, Ltd. announced the voting results about proposals at the 66th Ordinary General Meeting of Shareholders held on June 29, 2022. Porposals 1 to to 6 were approved, and proposals 7 to 15 were rejected. Specifically Proposal No.

1 refers to Disposal of surplus: Matters concerning year-end dividends 400 yen per share of the Company's common stock, Proposal No. 2 about Partial amendment of articles of incorporation: enforcement of the amendment provisions stipulated in the proviso of Article 1 of the Supplementary Provisions of the "Act for Partial Amendment of the Companies Act", Proposal No. 3 about Appointment of 10 Directors (Minoru Fujii, Mitsuhiro Fujii, Masahide Sakamoto, Norihiro Fujii, Toru Fukuoka, Yoshiyuki Ito, Masahiro Takeuchi, Hideto Kataoka, Takashi Nagatsuka, and Michiyuki Takehara), Proposal No.

4 about Appointment of Ken Ozaki as Audit & Supervisory Board Member, Proposal No. 5 regarding Presentation of retirement benefits to retired directors: Keizo Nagasawa, who retires from the board of directors, will be presented with a severance pay to reward his achievements during his tenure, and Proposal No. 6 about Presenting retirement benefits to retired corporate auditors: Koji Kogoshi, who will retire as an Audit & Supervisory Board Member, will be presented with a severance pay to reward his achievements during his tenure.

Subsequently, these are the details of the unapproved proposals, Proposal No. 7 about Partial Amendment of Articles of Incorporation (i), In the chapter of the Articles of Incorporation "Chapter 3 General Meeting of Shareholders", the following articles have been newly established as Article 12, the Company will discuss matters related to stock splits in addition to the matters stipulated in the Companies Act., Proposal No. 8 about Stock split ratio: 10 shares per share, Proposal No.

9 about Partial Amendment of Articles of Incorporation (ii) Article 5 of the Articles of Incorporation shall be amended, provided that Proposals 7 and 8 have been approved and the stock split in Proposal 8 has taken effect, so the total number of issuable shares of the Company shall be 96 million shares, Proposal No. 10 about Partial Amendment of Articles of Incorporation (iii): In the chapter of the Articles of Incorporation "Chapter 3 General Meeting of Shareholders", the following articles have been newly established as Article 12, Proposal No. 11 about Cancellation of treasury stock: the 394,560 shares of treasury stock held will be canceled on condition that Proposal No.

10 is approved and passed, Proposal No. 12 about Disposal of surplus: The amount obtained by subtracting the amount of surplus dividend per share of the Company's common stock proposed by the Board of Directors at the Ordinary General Meeting of Shareholders from 800 yen and approved at the General Meeting of Shareholders at the time of identification, Proposal No. 13 about Partial Amendment of Articles of Incorporation (iv): The term of office of directors shall be until the conclusion of the ordinary general meeting of shareholders for the last business year ending within one year after their election, Proposal No.

14 about Partial Amendment of Articles of Incorporation (v): The number of directors of the Company shall be 10 or less, and 2 or more shall be independent outside directors, and Proposal No. 15 about Partial amendment of articles of incorporation (vi): "Chapter 7 Calculation" will be changed to "Chapter 8 Calculation", and Article 43 and subsequent articles will be deferred by one each. So, the proposals from activist Asset Value Investors Limited were rejected according to the Voting Results.