Tokuyama : Notice concerning Changes of Directors

(Note) This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

April 21, 2021 Company name: Tokuyama Corporation Representative name: Hiroshi Yokota, President and Representative Director (Code No. 4043, First Section TSE) Contact: Taro Kobayashi, General Manager

Corporate Communications & Investor Relations Dept. TEL: [phone]

Notice concerning Changes of Directors

It is hereby notified that Tokuyama Corporation (the "Company") resolved the changes of Directors at the meeting of the Board of Directors on April 21, 2021.

These changes will be officially decided by relevant resolutions at the Company's Annual General Meeting of Shareholders, which is scheduled to be held on June 25, 2021.

1. The change of Director (Scheduled June 25, 2021)

1. Director to retire

Name	New title	Current title
Hideki Adachi	Adviser	Director

2. The change of External Director (Scheduled June 25, 2021)

1. External Directors to be newly nominated

	Name		New title	Current title
	Nobuko Mizumoto	External Director
	Audit &	Supervisory Committee	－
		Member
(2) Profile of External Director to be newly nominated
	Name		Career summary
		Apr 1982	Joined Research Institute, Ishikawajima-Harima Heavy
			Industries Co., Ltd. (current IHI Corporation)
		Apr 2012	Associate Director, General Manager of Corporate Social
			Responsibility Div.
		Apr 2014	Executive Officer, General Manager of Group Business
			Process Platform Div.
		Apr 2016	Executive Officer, General Manager of Procurement Strategy
	Nobuko Mizumoto	Apr 2017	Planning
	(Born in March 31, 1957)	Managing Executive Officer, General Manager of
		Procurement Strategy Planning
		Apr 2018	Managing Executive Officer, General Manager of Intelligent
			Information Management Headquarters
		July 2018	Director, Managing Executive Officer, General Manager of
			Intelligent Information Management Headquarters
		Jul 2020	Executive Fellow of Intelligent Information Management
			Headquarters
		Apr 2021	Advisor

3. The change of Substitute Director who is an Audit and Supervisory Committee Member (Scheduled June 25, 2021)

Mr. Michiya Iwasaki, the current substitute director who is an audit and supervisory committee member, will retire at the Company's Annual General Meeting of Shareholders, which is scheduled to be held on June 25, 2021.