Conducted on December 20, 2023
Yamato Holdings Co., Ltd.

Key questions and answers (summary) at thePresentation on Sustainability (Environment and Society)

Q１ Please explain the progress made, as well as new issues that emerged, inrelation to your sustainability initiatives.
We are promoting various initiatives towards achieving the goals outlinedin the “Sustainable Medium-Term Plans 2023”.

The key issues for Yamato, with our logistics services using the nationwide
network, our abundant internal and external talent and cargo vehicles, aswell as material handling equipment for sorting parcels, are energy andclimate in terms of the environment, and labor and human resource interms of the society.

Today we explained the overview of our sustainable management toaddress these key issues, the summary of our environmental and HR
strategies, as well as the progress. We will continue to explain in a timely
and appropriate manner to our shareholders and investors the progress ofeach initiative, as well as any new issues that may emerge.

Q ２ Please explain your clients’ needs for decarbonization, as well as yourcompetitive advantage in providing value to clients.
According to the awareness survey covering large corporate clients,
approximately 75% responded that they “would like to actively use delivery
services with low environmental impact, if such services existed”.

Yamato Group is in the process of developing a GHG emission visualization
tool that complies with the international standard ISO14083:2023. This tool
can make more realistic calculations of GHG emissions from Yamato
Transport’s transportation operations, which we believe will lead to acompetitive advantage.

Going forward, the Yamato Group will not only visualize and reduce GHG
emissions, but support the transformation of logistics, such as by
optimizing the entire supply chains of clients, and reducing excess1inventory, thereby heightening the value we provide to clients, as well as
improving profitability by charging the appropriate pricing.

Q３ Please explain the challenges you face when engaging with partners.
We have regular communication with our transportation partners, througha structure centered around the Partnership Promotion Office set up
within Yamato Transport Co., Ltd.

With the 2024 problem in logistics coming up, we are creating a suitable
work environment for our partners as well. Together with reviewing thefunctions of our terminals, we are consolidating trunk-route transportation,and making our operations more efficient using digital technology. With
the surge in fuel costs, the need for improving the compensation of truck
drivers, as well as other factors, we are also focused on making appropriate
payments to our partners.

As for the major suppliers of waybills, materials, etc., we have begun
monitoring based on the Yamato Group Responsible Procurement Policy
and the Yamato Group Business Partner Guidelines. Companies are atdifferent levels when it comes to addressing environmental issues, andYamato Group considers and provides the necessary support, and isworking together with partners to achieve sustainable growth and realize asustainable society.

Q４ Please explain how you intend to hire and train digital talent.

There is strong demand for digital talent in the labor market. Our previous
HR system was not competitive enough, so we made some changes, first at
Yamato System Development Co., Ltd., in order to secure and retain digitaltalent.

Based on the “Yamato Group Human Resources Management Policy” ,we will establish and operate an HR policy and talent management
structure that are based on the jobs and roles of each employee, for theentire firm including the digital domain.

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