Verification Opinion

6 August 2024
Opinion No：SGS24/090

Akito Mizuno
President
Mizuno Corporation
1-12-35 Nankokita, Suminoe-ku, Osaka-shi, Osaka-fu

Objective
SGS Japan Inc. (hereinafter referred to as "SGS") was commissioned by Mizuno Corporation (hereinafter referredto as "the Organization") to conduct independent verification based on Criteria of Verification (ISO14064-3: 2019
and the SGS verification protocol) regarding the data prepared by the Organization on the scope of verification(hereinafter referred to as “the Statement”). The objective of this verification is to confirm that the Statement in theOrganization's applicable scope has been correctly calculated and reported in the Statement in conformance withthe criteria, and to express our views as a third party. The Organization is responsible for the preparation and fairpresentation of the Statement.

Scope
The scope of verification is Scope 3 emissions.
The period subject to report is from 1 April 2023 to 31 March 2024.
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 were
implemented 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: Interviews and review of vouchers in the scope of verification carried out at thehead office
The criteria for this review are based on Basic Guidelines on Accounting for Greenhouse Gas Emissions
throughout the Supply Chain Ver 2.5, Emission Factor Database on the same Accounting Ver 3.3, LCA Database
IDEA ver.3.3, and the protocol specified by the Organization.

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, Good-cho, Hodogaya-ku,Yokohama
Business Assurance
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
6 August 2024
Opinion No：SGS24/090

The details of the scope of verification
The Scope
1
Scope 3 (Category 1)
2

Scope 3 (Category 12)

The Boundary
The Statement
The domestic Mizuno Group and the overseas
328,521 t- CO2
Mizuno Group*Excluding indirect procurement
The domestic Mizuno Group and the overseas
40,123 t- CO2
Mizuno Group

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.