Ishihara Sangyo Kaisha : Notice of Resolutions of the 99th Ordinary General Meeting of Shareholders

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

The company is not responsible for the accuracy or completeness of the translation.

(Securities code: 4028)

June 28, 2022

To Our Shareholders

Hideo Takahashi Executive Director, President

ISHIHARA SANGYO KAISHA, LTD.

3-15, Edobori 1-chome,Nishi-ku, Osaka

Notice of Resolutions of the 99th Ordinary General Meeting of Shareholders

We hereby inform you of the reported matters and resolutions approved by the 99th Ordinary General Meeting of Shareholders held today as follows:

Matters Reported:

1. The Business Report and the Consolidated Financial Statements for the 99th Fiscal Year (from April 1, 2021 to March 31, 2022), as well as the audit reports on the Consolidated
   Financial Statements by the Company's Accounting Auditors and the Audit & Supervisory Board
2. The Non-Consolidated Financial Statements for the 99th Fiscal Year (from April 1, 2021 to March 31, 2022)

The contents of the above matters were duly reported.

Matters Resolved:

Proposal No. 1: Appropriation of Surplus

This proposal was approved and adopted as originally proposed. As a result, the year-end dividend for the 99th fiscal year was set at 36 yen per share.

Proposal No. 2: Partial Amendments of the Articles of Incorporation

This proposal was approved and adopted as originally proposed. Some changes were made to the Articles of Incorporation, and the outline is as follows:

1. The purpose of the blue phalaenopsis business was added along with the commercialization of the world-first blue phalaenopsis.
2. Changes related to the establishment of a system for providing general shareholder meeting materials in electronic format were made before the amending provisions prescribed in the proviso of Article 1 of the Supplementary Provisions to the Act Partially Amending the Companies Act (Act No. 70 of 2019) will be enforced on September 1, 2022.

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Proposal No. 3: Election of Nine (9) Directors

This proposal was approved and adopted as originally proposed. Messrs. Kenichi Tanaka, Hideo Takahashi, Kiyomitsu Yoshida, Yasunobu Kawazoe, Masaki Shimojo, Hiroshi Katsumata, Tatsuo Hanazawa and Satoshi Ando were reelected, and Mr. Hiroshi Okubo was newly elected, as Directors, and all of them assumed their offices. Hiroshi Katsumata, Tatsuo Hanazawa and Satoshi Ando are Outside Directors.

Proposal No. 4: Election of One (1) Substitute Audit & Supervisory Board Member

This proposal was approved and adopted as originally proposed. Mr. Yasuhiro Koike was elected as a Substitute Audit & Supervisory Board Member.

Proposal No.5: Determination of Compensation for the Grant of Restricted Stock Compensation to Directors (Excluding Outside Directors)

This proposal was approved and adopted as originally proposed. It was decided to introduce a transfer-restricted stock compensation plan and set the total annual monetary compensation receivables within 90 million yen, which is paid to grant shares with a restriction on transfer to Directors (excluding Outside Directors).

The total number of common shares that are issued to affected Directors or disposed of under this plan is within 95,000 shares per year.

END

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