ENECHANGE Ltd. has entered a business alliance with NITTO KOGYO Corporation. By linking NITTO KOGYO's "Pit-2G", their EV charger series equipped with 4G, with ENECHANGE's proprietary software, it aims to improve convenience and build a highly public EV charging infrastructure. Background and Purpose: Expansion of EV charging infrastructure is essential for the spread of EVs.

To meet this need, commercial facilities such as suburban shopping plazas, hotels, restaurants, department stores, and supermarkets may look to install EV chargers in their parking lots as a measure to attract customers. In response to this, from November 2021, it began offering the ENECHANGE EV Charging Service, which enables the installation of EV charging systems that are ideal for charging at public destinations at minimal cost. Through their new alliance with NITTO KOGYO, it will be responsible for the development of management systems for EV charger owners and applications for EV drivers, as well as solutions and services such as installation and maintenance of chargers, while NITTO KOGYO will be responsible for supplying the hardware, i.e. the charging units.

The impact of the business alliance on the consolidated business results of the Company will be limited.