Ube Industries : Modifies Plans to Split Off Synthetic Rubber Business by Establishing Wholly-Owned Subsidiary

August 3, 2021

Company name: Ube Industries, Ltd.

Representative: Masato Izumihara

President and Representative Director

Security code: 4208 (shares listed on First Section of Tokyo Stock

Exchange and Fukuoka Stock Exchange)

Contact: Osamu Akutagawa

General Manager, General Affairs Department

Tel: [phone]

Ube Industries Modifies Plans to Split Off Synthetic Rubber Business by

Establishing Wholly-Owned Subsidiary

Ube Industries, Ltd. today announced that, by a resolution of the Board of Directors today, the Company will partially modify its plans to split off its synthetic rubber business in a company split (simplified incorporation-type split), which was announced on April 30, 2021. The details of the changes are as follows.

1. Reason for Change

After further reviewing the assets and liabilities to be assumed by the new company, the Board of Directors has identified and made necessary changes to the plans to split off the synthetic rubber business by establishing a wholly-owned subsidiary.

2. Details of Changes

Changes are underlined.

"2. Summary of the Company Split, (6) Rights and Obligations Assumed by the Successor Company"

Previously:

The New Company will assume the assets and rights and obligations attributed to the Ube Industries' synthetic rubber business to be set out in the split plan.

Changed to:

The New Company will assume the assets, liabilities,and rights and obligations attributed to the Ube Industries' synthetic rubber business to be set out in the split plan.

"2. Summary of the Company Split, (7) Expected Fulfillment of Obligations"

Previously:

The New Company will not assume the liabilities of Ube Industries, so there will be no problem with debt repayment.

Changed to:

There will be no issues with the fulfillment of obligations to be borne by the New Company and Ube Industries.

"4. Overview of Splitting Businesses, (3) Splitting Assets, Liabilities, and Amounts (Latest Forecast as

of March 31, 2021)"

Previously:

Assets		Liabilities
Item		Book Value	Item		Book Value
Current assets		10,000 million yen	Current liabilities		0 million yen
Non-current assets		12,400 million yen	Non-current liabilities		0 million yen
Total		22,400 million yen	Total		0 million yen

Note: Assumed amounts will be the actual amounts as of the Company Split taking effect.

Changed to:

Assets		Liabilities
Item		Book Value	Item	Book Value
Current assets		3,400million yen	Current liabilities	3,400million yen
Non-current assets		18,700million yen	Non-current liabilities	9,300million yen
Total		22,100million yen	Total	12,700million yen

Note: Assumed amounts will be the actual amounts as of the Company Split taking effect.