Articles of Incorporation―――――――――――――――――――――――――――――――――――――――――――(TRANSLATION)

ARTICLES OF INCORPORATION
Enacted: December 8, 2010
Amended:March 26, 2024

CHAPTER I. GENERAL PROVISIONS
Article 1. (Trade Name)
The name of the Company shall be KH ネオケム株式会社 (KH Neochem Kabushiki Kaisha) and indicatedas “KH Neochem Co., Ltd.” in English.

Article 2. (Location of Head Office)The head office of the Company shall be located in Chuo-ku, Tokyo.

Article 3. (Purpose)
The purpose of the Company shall be to engage in the following businesses:(1) Manufacture, processing and sale of ethylene and propylene products, and other petrochemical products;(2) Manufacture, processing and sale of various industrial chemical products relating to the preceding items;(3) Manufacture, processing and sale of pharmaceutical products, quasi-pharmaceutical products andreagents;(4) Manufacture, processing and sale of food additives;(5) Manufacture, processing and sale of amino-acid resins;(6) Manufacture, processing and sale of higher alcohol;(7) Manufacture, processing and sale of detergent raw materials;(8) Manufacture, processing and sale of intermediates generated from the manufacturing process of higher
alcohol and detergent raw materials;(9) Manufacture, processing and sale of organic or inorganic industrial chemicals, such as silicone
compounds and high-purity hydrochloric acid;(10) Manufacture, processing and sale of fine chemicals;(11) Manufacture, processing and sale of chemical products made from natural raw materials, etc.;(12) Warehousing business;(13) Purchase, sale, import and export of goods relating to the businesses referred to in any of the foregoing
items; and(14) Any other business incidental or relating to any of the foregoing items.

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Article 4. (Governing Bodies)
The Company shall have the following governing bodies in addition to the general meeting of shareholders
and Directors:(1) Board of Directors;(2) Audit and Supervisory Committee; and(3) Accounting Auditors.

Article 5. (Method of Public Notice)
Public notices of the Company shall be given by way of electronic public notice; provided, however, that if
public notice cannot be given by way of electronic public notice due to an accident or other unavoidable
circumstances, public notice shall be given by way of publication in the Nihon Keizai Shimbun.

CHAPTER II. SHARESArticle 6. (Total Number of Authorized Shares)
The total number of shares authorized to be issued by the Company shall be 136,200,000 shares.

Article 7. (Acquisition of Treasury Shares)
Pursuant to the provision of Article 165, Paragraph 2 of the Companies Act, the Company may acquire
treasury shares by resolution of the Board of Directors.

Article 8. (Share Unit)
The share unit of the Company shall be 100 shares.

Article 9. (Rights Concerning Shares Less than One (1) Unit)
A shareholder of the Company may not exercise any rights concerning shares less than one (1) unit held bysuch shareholder, except for the following rights:(1) The rights provided for in each of the items of Article 189, Paragraph 2 of the Companies Act;
(2) The right to make a demand pursuant to the provision of Article 166, Paragraph 1 of the Companies Act;
(3) The right to receive allotment of shares for subscription and allotment of share options for subscription, inproportion to the number of shares held by such shareholder; and(4) The right to make a demand under the immediately following article.

Article 10. (Additional Purchase of Shares Less than One (1) Unit)
A shareholder of the Company may demand that the Company sell shares that are less than one (1) unit to theshareholder to the extent that the shares of less than one (1) unit held by the shareholder constitute one (1) unit
share, as stipulated in the Share Handling Regulations; provided, however, that this shall not apply when theCompany does not hold the number of treasury shares that the Company is required to sell to the shareholder.
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Article 11. (Shareholder Register Administrator)

1.

The Company shall have a Shareholder Register Administrator.

2.

The Shareholder Register Administrator and the place for handling the administration thereof shall be
determined by a resolution of the Board of Directors.

3.

The preparation and maintenance of the Shareholder Register (kabunushi meibo), the Share Option
Register (shinkabu yoyakuken genbo) and the Register of Lost Share Certificates (kabuken soushitutourokubo) of the Company, as well as other business relating to such Shareholder Register and ShareOption Register, shall be entrusted to the Shareholder Register Administrator and shall not be handled bythe Company.

Article 12. (Share Handling Regulations)
The handling of the Company’s shares and the fees therefor shall be governed by applicable laws andregulations or these Articles of Incorporation, as well as the Share Handling Regulations prescribed by theBoard of Directors.

CHAPTER III.

GENERAL MEETING OF SHAREHOLDERS

Article 13. (Convocation)
The ordinary general meeting of shareholders of the Company shall be convened within three (3) months after
the end of each business year, and an extraordinary general meeting of shareholders shall be convened
whenever necessary.

Article 14. (Record Date of Ordinary General Meeting of Shareholders)
The record date for the voting rights at the ordinary general meeting of shareholders of the Company shall be
December 31 of each year.

Article 15. (Convener and Chairperson)
1. Unless otherwise provided for in any applicable laws or regulations, a Board Director, President & Chief
Executive Officer shall convene the general meeting of shareholders by a resolution of the Board ofDirectors and act as the chairperson thereof.
2. In the event of Paragraph 1 of this Article 15, if such Board Director, President & Chief Executive Officer
is unable to so act, another Director who is designated in accordance with an order of priority determinedin advance by the Board of Directors shall convene such general meeting or act as th2e chairperson
thereof.

Article 16. (Measures for Electronic Provision)
1. In convening a general meeting of shareholders, the Company shall take measures for electronically3Articles of Incorporation―――――――――――――――――――――――――――――――――――――――――――
providing information on the contents of the reference documents for general meetings of shareholders,etc.
2. The Company may opt not to include all or part of the matters subject to the measures for electronicallyproviding information which are designated by the Order of the Ministry of Justice, in a document to bedelivered to shareholders who made a document delivery request by the record date for the voting rights.

Article 17. (Method of Adopting Resolutions)
1. Unless otherwise provided for in any applicable laws or regulations or these Articles of Incorporation, aresolution of a general meeting of shareholders shall be adopted by a majority of votes of the shareholders
present at the meeting who are entitled to exercise their voting rights.
2. Resolutions provided for in Article 309, Paragraph 2 of the Companies Act shall be adopted by two-thirds(2/3) or more of the votes of the shareholders present at the meeting where shareholders holding one-third(1/3) or more of the votes of the shareholders who are entitled to exercise their voting rights are present.

Article 18. (Exercise of Voting Rights by Proxy)
1. A shareholder of the Company may exercise his/her voting rights by proxy, who shall be anothershareholder of the Company holding voting rights of the Company.
2. In the case of the preceding Paragraph, the shareholder or the proxy thereof must submit to the Company adocument evidencing the authority of proxy in respect of each general meeting of shareholders.

CHAPTER IV. DIRECTORS AND BOARD OF DIRECTORS
Article 19. (Number of Directors)
1. The Company shall have no more than ten (10) Directors, excluding those who are Audit and Supervisory
Committee Members.
2. The Company shall have no more than five (5) Directors who are Audit and Supervisory Committee
Members.

Article 20. (Method of Election of Directors)
1.

Directors shall be elected through a resolution at a general meeting of shareholders, that distinguishes
between those who are Audit and Supervisory Committee Members and those who are not.

2.

A resolution for the election of Director(s) shall be adopted by a majority of the votes of the shareholders
present at the meeting where shareholders holding one-third (1/3) or more of the votes of the shareholders
who are entitled to exercise their voting rights are present.

3.

A resolution for the election of Director(s) shall not be adopted by cumulative votes.

Article 21. (Term of Office)
1. The term of office of a Director (excluding a Director who is an Audit and Supervisory Committee
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Member) shall continue until the conclusion of the ordinary general meeting of shareholders for the lastbusiness year ending within one (1) year after his/her election.
2. The term of office of a Director who is an Audit and Supervisory Committee Member shall continue until
the conclusion of the ordinary general meeting of shareholders for the last business year ending within two(2) years after his/her election.
3. The term of office of a Director who is an Audit and Supervisory Committee Member elected to fill avacancy left by a Director who is an Audit and Supervisory Committee Member and retires before theexpiration of the his/her term of office shall continue until the expiration of the term of office of theretiring Director who is an Audit and Supervisory Committee Member.
4. The qualification of a Director who is elected as a substitute Audit and Supervisory Committee Membershall be effective until the beginning of the ordinary general meeting of shareholders for the last businessyear ending within two (2) years after the general meeting of shareholders at which such election is made.

Article 22. (Representative Directors and Directors with Titles)
1. The Board of Directors shall appoint one (1) or more Representative Directors by its resolution fromamong Directors (excluding Directors who are Audit and Supervisory Members).
2. A Representative Director shall represent the Company and execute the business of the Company.
3. The Board of Directors shall appoint, from among Directors (excluding Directors who are Audit andSupervisory Members), one (1) Board Director, President & Chief Executive Officer and may appoint, asnecessary, one (1) Board Director and chairman as well as several Board Directors, Executive Vice
Presidents, Executive Corporate Officers, and Senior Corporate Officers by its resolution.

Article 23. (Notice of Convocation of Board of Directors)
1. A notice of convocation of a meeting of the Board of Directors shall be sent to each Director at least three(3) days prior to the meeting; provided, however, that such period may be shortened in the case of urgentnecessity.
2. If the consent of all Directors is obtained, a meeting of the Board of Directors may be held without
following the procedures for convening a meeting.

Article 24. (Omission of Resolution of Board of Directors)
The Company shall deem that the matters to be resolved by the Board of Directors are adopted by a resolutionof the Board of Directors when all the Directors (limited to those who are eligible to participate in the voting
on such matters) have given their consent thereto in writing or through electromagnetic records.

Article 25. (Delegation of Important Business Execution Decisions)
The Company may, pursuant to Article 399-13, Paragraph 6 of the Companies Act, by a resolution of theBoard of Directors, delegate all or part of the decisions on the execution of important business affairs(excluding the matters listed in the items of Paragraph 5 of the same Article) to the Directors.

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Article 26. (Regulations of Board of Directors)
Matters relating to the Board of Directors shall be governed by applicable laws and regulations and these
Articles of Incorporation as well as the Regulations of the Board of Directors prescribed by the Board ofDirectors.

Article 27. (Remuneration)
Directors’ remuneration, bonuses, and other financial benefits received from the Company as consideration forthe execution of duties shall be determined by a resolution of the general meeting of shareholders, that
distinguishes between Directors who are Audit and Supervisory Committee Members and those who are not.

Article 28. (Exemption of Directors’ Liabilities)
1.

Pursuant to the provision of Article 426, Paragraph 1 of the Companies Act, the Company may, by aresolution of the Board of Directors, exempt Directors (including former Directors) from their liabilitiesof damages under Article 423, Paragraph 1 of the Companies Act, to the extent permitted by applicablelaws and regulations.

2.

Pursuant to the provision of Article 427, Paragraph 1 of the Companies Act, the Company may enter into
an agreement with Directors (except for those who are Executive Directors, etc.), which shall limit theirliabilities of damages under Article 423, Paragraph 1 of the Companies Act; provided, however, that themaximum amount of the liability of damages under such agreement shall be the amount prescribed byapplicable laws and regulations.

CHAPTER V. AUDIT AND SUPERVISORY COMMITTEE

Article 29. (Notice of Convocation of Audit and Supervisory Committee)
1. Notice of convocation of a meeting of the Audit and Supervisory Committee shall be sent to each Audit
and Supervisory Committee Member at least three (3) days prior to the meeting; provided, however, thatsuch period may be shortened in the case of urgent necessity.
2. If the consent of all Audit and Supervisory Committee Members is obtained, a meeting of the Audit andSupervisory Committee may be held without following the procedures for convening a meeting.

Article 30. (Full-Time Audit and Supervisory Committee Members)
The Audit and Supervisory Committee may appoint one (1) or more Full-Time Audit and Supervisory
Committee Members from among Audit and Supervisory Committee Members by its resolution.

Article 31. (Regulations of Audit and Supervisory Committee)
Matters relating to the Audit and Supervisory Committee shall be governed by applicable laws and regulationsor these Articles of Incorporation as well as the Regulations of the Audit and Supervisory Committeeprescribed by the Audit and Supervisory Committee.
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CHAPTER VI. ACCOUNTING
Article 32. (Business Year)The business year of the Company shall commence on January 1 of each year and end on December 31 of thesame year.

Article 33. (Record Date for Distribution of Dividends from Surplus)
The record date for the year-end dividends of the Company shall be December 31 of each year.

Article 34. (Interim Dividends)
The Company may, by resolution of the Board of Directors, distribute interim dividends with June 30 of eachyear as the record date.

Article 35. (Period of Exclusion for Dividend Property)
1. If any dividend property consists of money, the Company shall be exempted from its obligation to pay
such dividend property, to the extent that such dividend property is not received within three (3) full years
after the date on which the payment thereof has commenced.
2. No interest shall accrue on unpaid dividend property.

SUPPLEMENTARY PROVISIONS
Article 1. (Transitional Measures Concerning Exemption from Liability of Audit and Supervisory Board
Members Prior to Transition to a Company with Audit and Supervisory Committee)
The Company may, pursuant to Article 426, Paragraph 1 of the Companies Act, by a resolution of the Board ofDirectors, exempt Audit and Supervisory Board Members (including those who were formerly Audit andSupervisory Board Members) from liability of damages under Article 423, Paragraph 1 of the Companies Act,
concerning acts committed prior to the conclusion of the 14th ordinary general meeting of shareholders to theextent permitted by laws and regulations.

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