June 29, 2023
For Immediate Release
Company NameRepresentative

Kurita Water Industries Ltd.
Hirohiko Ejiri
Director, President and Representative Executive Officer(Securities code: 6370, Tokyo Stock Exchange Prime Market)
Contact
Makoto Touryuudani
General Manager of General Affairs andRisk Management Department（TEL+81-3-6743-5068 )Announcement of Changes to Stock Compensation Plan for Officers
Kurita Water Industries Ltd. (hereinafter "the Company") announces that a meeting of its Compensation Committee heldon June 29, 2023 resolved to change the stock compensation plan ("the Plan") utilizing a trust service for the Company'sDirectors (excluding External Directors). Details are as follows.

1. Changes to the Plan
To motivate Directors (excluding External Directors) to strive harder to accomplish their performance goals and help
them share the benefits and risks of stock price fluctuations with shareholders, the Company submitted a proposal for theintroduction of the Plan to the 80th Ordinary General Meeting of Shareholders held on June 29, 2016. The proposal wasapproved as originally proposed. A meeting of the Board of Directors held on May 28, 2021 resolved to continue the Plan,
and the Plan has continued up to now.
For an overview of the Plan before the changes, please refer to the Company's Announcement of the Introduction of a
Performance-linked Stock Compensation Plan for Directors dated April 28, 2016 (the English version was published onMay 6, 2016).
Because the Company has become a company with a nominating committee, etc., the Company will change the Plan
to make it suitable for a new organization and roles and to unify the stock compensation plan for the officers of theCompany and for certain officers of the major domestic Group companies.
2. The Plan after the changes(1) Overview of the Plan
The Plan is a stock compensation plan in which a trust ("the Trust") established and paid for by the Company acquires
shares of the Company and delivers shares to each person eligible for the Plan after the changes described in (2) ("theDirectors, etc."), based on the number of points that the Company grants to each Director, etc.
(2) Changes to the Plan
The changes to the Plan are as described below.
BeforePersons eligible - The Company's Directors (excludingExternal Directors)
for the Plan

After- The Company's Directors (excluding ExternalDirectors and Full-time Directors who areMembers of the Audit Committee)- The Company's Executive Officers- The Company's Corporate Officers- Certain Directors of major domestic subsidiaries ofthe Group
Criteria for
granting points- Points are granted according to positions

The Company's Directorsand performance achievement levels- Points are granted according to positions(Profit attributable to Owners of parent)

Directors, etc. that are not Directors of the Company- Points are granted according to positions andperformance achievement levels (ROE andRelative TSR)

Timing of deliveryof shares

Transferrestriction- At the time of retirement- No- During their term of office (in principle, every fiscalyear)- Yes (in principle, up to the time of retirement)

There are no changes other than the changes to the Plan above from the Company's Announcement of the Introductionof a Performance-linked Stock Compensation Plan for Directors dated April 28, 2016 (the English version waspublished on May 6, 2016).
3. Transfer restriction agreement on the shares of the Company to be delivered to Directors, etc.
A transfer restriction agreement ("the Transfer Restriction Agreement") that includes the provisions below shall beconcluded between the Company and the Directors, etc. about the shares of the Company that will be delivered to Directors,etc. in proportion to the points to be granted after the resolution is passed at the Compensation Committee meeting held on
June 29, 2023. (Each Director, etc. shall receive shares of the Company only if they conclude the Transfer Restriction
Agreement.)
1) The Directors, etc. shall not transfer any shares of the Company that are delivered to them under the Plan, establish any
security interest on the shares, or otherwise dispose of any of the shares from the day when they receive the shares to theday of retirement.
2) The Company shall acquire the shares delivered under the Plan without consideration if certain events occur.
3) Conditions for removal of transfer restrictions predetermined by the Compensation Committee, etc.
If shares of the Company are delivered to any Directors, etc. based on their acquired points after their retirement for somereason, shares of the Company shall be delivered without any transfer restrictions.

(For reference) Overview of the trust agreement related to the Trust
Trustor

Kurita Water Industries Ltd.

Trustee

Sumitomo Mitsui Trust Bank, Limited.
(Re-trust trustee: Custody Bank of Japan, Ltd.)

Beneficiaries

Directors, etc. of the Company and its major domestic subsidiaries meeting beneficiary
requirements

Trust

A third party who has no relationship of interest with the Company or the Company's officers

administrator
Exercise ofNo voting rights of the shares held in the Trust will be exercised during the trust period.

voting rights
Type of trust

Nonmonetary trust (third party-benefit trust)

Date of trust

August 4, 2016

agreement
Trust period

From August 4, 2016 to August 31, 2024 (planned)

Purpose of trust

Granting shares of the Company to beneficiaries under the rules for granting shares