Discussion with the Independent Directors
The Stakeholder Communication Committee, a cross-functional organization within the Company, held a "Discussion
with the Independent Directors".

With Director Koizumi

Attendees T.Y. Tohoku Branch remote

S.T. Cement Business Division Administration Department
H.N. Kamiiso Plant remote

R.N. Chubu Hokuriku Branch

Carbon Neutral Technology Development Project Team
N.N. Theremote
A.N. International Business Division
HostQ

Y.S. General Affairs Department

What are some of the characteristics ofthe company from the perspective of its
independent directors?
We strongly feel that each and every employeeA takes pride in being part of a leading company withover 140 years of history. There have been times ofhardship in the company's long history, but it has overcome
these hardships, is actively expanding overseas, and it is time
for the struggles of the past to blossom. On the other hand,After the Discussion

looking within the group, there are only a few completelydifferent industries, giving the impression of a strong cement
specialization.

Our company now offers a wide variety of work

Q styles. Please share your advice on what you
value in future career development.

When I was giving birth and raising my children,

A we did not have the support that we have today, so I

feel that these are great times. It is important not tointerrupt your career, but to take advantage of all the support
you can get, because you will not be able to keep going if
you have to take on work, childcare, caregiving, and family
all by yourself. It is said that it takes the support of 10 people
to nurture a female businessperson, so it is difficult to do italone no matter how hard you work. Therefore, it is importantto always remain grateful to those around you, including yourfamily and colleagues. Since society is now promoting theactive participation of women, we should try to get on board
with this trend.

A.N.

Normally, we rarely have the opportunity to hear directly from management, as their intentions
and ideas go through various internal processes before reaching us. Through the exchange ofvarious opinions at this discussion meeting, we were able to gain a clearer understanding of whatis expected of us in our daily work, and it was a valuable opportunity to increase our motivation.

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The Driving Force/Booster of Value Creation — Sustainability Human CapitalWith Director Emori

Attendees T.O. Chubu Hokuriku Branch

A.N. The Carbon Neutral Technology Development Project TeamremoteK.M. Nghi Son Cement Corporation remote

T.I. Kumagaya plant

S.Y. General Affairs Department
A.S. Production Department

Y.M. Corporate Planning Department
HostY.S. General Affairs Department

We are in a difficult business environment rightQ now, what will it take to keep us motivated?

It is important for young people to align theirvectors with the president's vision of "becoming anoutstanding leading company in the Pacific Rim," andto look ahead to the future and work hard without being too
concerned about the situation in front of them. I hope that youA88

will face your work by embodying your own themes, such as"What is it that I can do?" and "What should I do?" to overcome
difficult situations. When encountering difficulties, activelyengage in dialogue with your superiors and seniors to get intouch with their humanity and outlook on life. That way, you
may find some constructive answers. I hope that all of you willhave an unshakable focus in your lives and become people
equipped with virtue.

What is the experience that a young employee

Q should have?

I hope that you will make an effort to gain

A experience and knowledge of company operations andmanagement. Furthermore, in order for our company
to accelerate global management in the future, language skills
that can be used overseas and the ability to communicate withlocal staff are also indispensable. In order to become suchsought-after human resources, I hope that you will actively lookoutward from a young age.

Discussion with the Independent Directors

With Director Furikado

Attendees A.H. Central Research Laboratory
S.H. General Affairs Department
M.Y. Saitama Plant remote

S.I. Taiheiyo Cement Philippines, Inc. remote
T.H. Chugoku Branch

M.O. Human Resources Department
K.S. Accounts Department
HostQ

Y.S. General Affairs Department

What are your expectations for young
employees in order for our company to become
an outstanding leading company?
While energy prices continue to soar, the priceA pass-through to cement has not progressed well,resulting in very difficult business conditions inFY2023. However, times of trouble are opportunities to change

After the Discussion

things radically. As the top manufacturer in Japan, we must
develop and lead the way on cement pricing policy. I would
like to encourage young employees, with their fresh andflexible senses, to proactively make various proposals from theperspective of "if I were the president".

Please tell us about what it is that our company

Q should communicate more to society.

Cement is the base material for infrastructure and,A as a necessary industry, it will not disappear in thefuture. The fact that we have created a technology thatutilizes a wide variety of waste materials to produce cement andcontributes to the circular economy is proof that the cement
industry itself is sustainable. On the other hand, it is less wellknown that the company is actively working to achieve carbon
neutrality and that it is a global company with overseas factories
accounting for nearly 40% of its production capacity. I think thatshould be more widely communicated to society.

S.H.

We asked them about the corporate culture that they felt was unique to our company. The
foundation of our company is the long 140-year history built by our predecessors, and I once again
recognize that it is my role to pass on this history to the next generation. I would like to use thisopportunity of this discussion meeting as an impetus to work harder than ever before.

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