Translation
The following is an English translation of an independent assurance report prepared in Japanese and is for information and reference purposes
only. In the event of a discrepancy between the Japanese and English versions, the Japanese version will prevail.

Independent Assurance Report
July 25, 2023
TO:Mr. Yoshiro Aikawa
President and Chief Executive Officer,
Representative Director
Taisei Corporation
Kenji Sawami
Kiyotaka Kinugawa
Engagement Partner
Ernst & Young ShinNihon LLC
Tokyo, Japan
We, Ernst & Young ShinNihon LLC., have been commissioned by Taisei Corporation (hereafter the “Company”) and havecarried out a limited assurance engagement on the Key Environmental Performance Indicators (hereafter the "Indicators") of theCompany, TAISEI ROTEC CORPORATION* , TAISEI U-LEC CO.,LTD*, Taisei-Yuraku Real Estate Co.,Ltd.*, TAISEI SETSUBICO.,LTD.*, TAISEI HOUSING CORPORATION*, SEIWA RENEWAL WORKS CO.,LTD*. and J-FAST Co., Ltd.* for the year ended March
31, 2023 as included in “Sustainability / Environment(E) / Environmental Data” on the Company’s website (hereafter the “Report”).
The scope of our assurance procedures was limited to the Indicators marked with the symbol “ ” in the Report.
1．

The Company's Responsibilities
The Company is responsible for preparing the Indicators in accordance with the Company’s own criteria, which it determined withconsideration of Japanese environmental regulations as presented in the Report.
Greenhouse gas (GHG) emissions are estimated using emissions factors, which are subject to scientific and estimation
uncertainties given instruments for measuring GHG emissions may vary in characteristics, in terms of functions and assumed
parameters.

2．

Our Independence and Quality Control
We have met the independence requirements of the Code of Ethics for Professional Accountants issued by the International
Ethics Standards Board for Accountants, which is based on the fundamental principles of integrity, objectiveness, professional
competence and due care, confidentiality, and professional behavior.
In addition, we maintain a comprehensive quality control system, including documented policies and procedures for compliancewith ethical rules, professional standards, and applicable laws and regulations in accordance with the International Standard on
Quality Management(ISQM) 1 issued by the International Auditing and Assurance Standards Board.

3．

Our Responsibilities
Our responsibility is to express a limited assurance conclusion on the Indicators included in the Report based on the procedures
we have performed and the evidence we have obtained.
We conducted our limited assurance engagement in accordance with the International Standard on Assurance Engagements:
Assurance Engagements Other than Audits or Reviews of Historical Financial Information (“ISAE 3000”) (Revised) and, withrespect to GHG emissions, the International Standard on Assurance Engagements: Assurance Engagements on Greenhouse
Gas Statements (“ISAE 3410”), issued by the International Auditing and Assurance Standards Board.
The procedures, which we have performed according to our professional judgment, include inquiries, document inspection,
analytical procedures, reconciliation between source documents and Indicators in the Report, and the following:•Making inquiries regarding the Company’s own criteria that it determined with consideration of Japanese environmental
regulations, and evaluating the appropriateness thereof;•Inspecting relevant documents with regard to the design of the Company’s internal controls related to the Indicators, andinquiring of personnel responsible thereof at the headquarter and sites visited (2 construction site and 2 factory);•Performing analytical procedures concerning the Indicators at the headquarter and sites visited (2 construction site and 2factory);•Testing, on a sample basis, underlying source information and conducting relevant re-calculations at the headquarter andsites visited (2 construction site and 2 factory);
The procedures performed in a limited assurance engagement are more limited in nature, timing and extent than a reasonableassurance engagement.
As a result, the level of assurance obtained in a limited assurance engagement is lower than would have been obtained if we had
performed a reasonable assurance engagement.

4．

Conclusion
Based on the procedures performed and evidence obtained, nothing has come to our attention that causes us to believe that theIndicators included in the Report have not been measured and reported in accordance with the Company’s own criteria that it
determined with consideration of Japanese environmental regulations.
* CO2 emissions, energy use, fossil fuel use, electricity use, city gas, LPG, GTL, industrial waste emissions only