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With respect to the suppliers identified by the Requesting Shareholders, the Board of Directors has confirmed the relevant facts. Accordingly, the Company has no direct or indirect transactions involving palm oil or palm kernel oil with those suppliers, except for the Royal Golden Eagle (RGE) Group (as described below) and Felda/FGV Holdings (FGV). With regard to FGV, the Company does not source from the mills where issues were identified. The Company believes that maintaining relationships with suppliers while identifying sources where issues have been identified and requiring remediation contributes to enhancing the sustainability of the entire supply chain.

Regarding the RGE Group, the Company has established a joint venture with its subsidiary, Apical Group Limited, in which the Company holds a 35% equity interest. The Company, in its capacity as an equity holder, leverages governance influence to ensure compliance with ESG-related policies in the operation of the joint venture. Based on the principles of the Accountability Framework Initiative (AFi), the Company engages in ongoing dialogue not only with Apical Group Limited but also with its parent company, the RGE Group, to confirm the status of relevant matters and require improvements where necessary. Through this capital relationship, the Company is able to exert a more effective influence than would be possible through engagement with suppliers alone. In addition, the Company makes appropriate decisions, including whether to continue transactions, based on third-party assessments and external information, and continues to work to identify and mitigate risks within its supply chain.

The Board of Directors has determined that the Company’s supply chain management system is operating effectively and has not identified any material deficiencies that would warrant the appointment of an investigator.

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The Board of Directors, including the independent outside directors, has concluded that there are no material issues with the Company’s supply chain risk management framework, internal controls, or related disclosures as alleged by the Requesting Shareholders. The Board further believes that the concerns raised by the Requesting Shareholders, including potential reputational damage, disruption to the supply of raw materials, loss of consumer trust, and increased financing costs leading to impairment of the Company’s long-term corporate value are not substantiated.

For these reasons, the Board of Directors has unanimously determined that there is no need to appoint an investigator to conduct an additional review.