Verification Opinion

16 August 2023
Opinion No：SGS23/028

Mr. Osamu Murao
President and Representative Director, CEOGS Yuasa Corporation1, Inobanba-cho, Nishinosho, Kisshoin, Minami-ku, Kyoto

Objective
SGS Japan Inc. (hereinafter referred to as "SGS") was commissioned by GS Yuasa International Ltd. (hereinafterreferred to as "the Organization") to conduct independent verification based on Criteria of Verification (ISO140643: 2019 and the SGS verification protocol) regarding the data prepared by the Organization on the scope ofverification (hereinafter referred to as “the Statement”). The objective of this verification is to confirm that theStatement in the Organization's applicable scope has been correctly calculated and reported in the Statement inconformance with the criteria, and to express our views as a third party. The Organization is responsible for thepreparation and fair presentation of the Statement.

Scope
The scope of verification is Scope 1 and 2 emissions, energy consumption, and Scope 3 emissions.
The period subject to report is from 1 April 2022 to 31 March 2023.
Refer to the attached sheet for the detailed scope of verification.

Procedure of Verification
The Statement was verified in accordance with Criteria of Verification, and the following processes wereimplemented at a limited level of assurance:
Verification of the calculation system: Interviews on the measurement, tabulation, calculation, and reporting
methods employed by the Organization as well as review of related documents and records
Verification of the Statement: On-site verification and voucher review conducted at the Kyoto Plant and GS
Yuasa Energy Co.,Ltd., and analytical procedures and interviews for the other sites in the scope of verification
carried out at the Head Office
The criteria for this review are based on the Act on the Rational Use of Energy, the GHG Emissions Calculation
and Reporting Manual Ver.4.9, Basic Guidelines on Accounting for Greenhouse Gas Emissions throughout theSupply Chain Ver. 2.5, the Database of emissions unit values on the same Accounting Ver. 3.2, the Embodied
Energy and Emission Intensity Data for Japan Using Input-Output Tables (3EID) and the protocol specified by theOrganization.

Conclusion
Within the scope of the verification activities employing the methodologies mentioned above, nothing has come toour attention that caused us to believe that the Organization's Statement was not calculated and reported inconformance with the criteria.
SGS Japan Inc. affirms our independence from the Organization, being free from bias and conflicts of interest withthe Organization.
For and on behalf of SGS Japan Inc.
Yokohama business Park North Square Ⅰ
134, Godo-cho, Hodogaya-ku,Yokohama
Knowledge
Management Committee Member
Head of Certification/Accreditation

Yuji Takeuchi

1/2This document is issued by the Company under its General Conditions of Service accessible at www.sgs.com/terms_and_conditions.htm.
Attention is drawn to the limitation of liability, indemnification and jurisdiction issues defined therein. Any holder of this document is advised that information contained hereon
reflects the Company's findings as the time of its intervention only and within the limits of Client's instruction, if any. The Company's sole responsibility is to Client and thisdocument does not exonerate parties to transaction from exercising all their rights and obligations under the transaction documents. Any unauthorized alteration, forgery orfalsification of the content or appearance of this document is unlawful and offenders may be prosecuted to the fullest extent of the law.

Attached file
16 August 2023
Opinion No：SGS23/028The details of the scope of verification
The Scope
1
The performance data
Scope 1 and 2 include
energy-related CO2
emissions and energy
consumption※Excluding the vehicles
which run outside of the sites.
2
Scope 3 (Category 1)

The Boundary
4 production sites of the Organization(composed of 5 individual sites),
4 production sites of the domestic groupcompanies (composed of 4 individual sites),
16 production sites of the overseas groupcompanies (composed of 21 individual sites)

The Statement
Scope1： 66,952 t- CO2
Scope2：281,432 t- CO2

The Organization

523,813 t- CO2

3

Scope 3 (Category 2)

89,778 t- CO2

4

Scope 3 (Category 3)

5

Scope 3 (Category 4)

6

Scope 3 (Category 5)

7

Scope 3 (Category 6)

8

Scope 3 (Category 7)

9

Scope 3 (Category 12)

The Organization and the consolidated
companies (GS Yuasa Group)
4 production sites of the Organization(composed of 5 individual sites),
4 production sites of the domestic groupcompanies (composed of 4 individual sites),
16 production sites of the overseas groupcompanies (composed of 21 individual sites)
The Organization
Limited to specified consigner (domestictransport of the Organization) under the Act onthe Rational Use of Energy
8 domestic production sites (composed of 9individual sites) including the Organization
8 domestic production sites (composed of 9individual sites) including the Organization
8 domestic production sites (composed of 9individual sites) including the Organization
Disposal of lead-acid batteries sold by The
Organization

64,815 t- CO2

8,702 t- CO2

1,226 t- CO2
785 t- CO2
2,283 t- CO2
18,048 t- CO2

2/2
This document is issued by the Company under its General Conditions of Service accessible at www.sgs.com/terms_and_conditions.htm.
Attention is drawn to the limitation of liability, indemnification and jurisdiction issues defined therein. Any holder of this document is advised that information contained hereon
reflects the Company's findings as the time of its intervention only and within the limits of Client's instruction, if any. The Company's sole responsibility is to Client and thisdocument does not exonerate parties to transaction from exercising all their rights and obligations under the transaction documents. Any unauthorized alteration, forgery orfalsification of the content or appearance of this document is unlawful and offenders may be prosecuted to the fullest extent of the law.