Note：This document has been translated from the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.

May 20, 2022
To whom it may concern:
Company name: Fuji Oil Holdings, Inc.
Representative: Mikio Sakai, President and CEO(Code: 2607, TSE Prime Market)
Inquiries: Yoshiharu Okamoto
Senior Manager, Corporate Communication Group(TEL.：+81-6-6459-0701)

Notice on Partial Amendments to the Articles of Incorporation
Fuji Oil Holdings, Inc. (hereinafter the “Company”) announces that the Board of Directors
resolved today to propose the following amendments to the Articles of Incorporation at the94th Annual General Meeting of Shareholders to be held on June 21, 2022.
1. Reasons for the proposal(1) The Company will shift to a Company with Audit and Supervisory Committee for the
purpose of further enhancing corporate governance by strengthening the supervisory
functions of the Board of Directors, and expediting the implementation of businessstrategies by assigning Directors to make decisions on the execution of importantmatters.
The Company will make necessary amendments to its Articles of Incorporation to shift
to a Company with Audit and Supervisory Committee, such as the establishment of
new provisions concerning Audit and Supervisory Committee and its Directors, andthe deletion of provisions concerning Audit and Supervisory Board and its Members.
(2) The Company proposes to establish new provisions under Article 11, Paragraph 2 ofthe proposed amendments to enable a General Meeting of Shareholders to be held
without a designated location in the event that its Board of Directors decides, in light of
the interests of its shareholders, that it is inappropriate to hold a General Meeting of
Shareholders at a designated location due to reasons such as the spread of infectious
diseases or the occurrence of a natural disaster.
(3) The revised provisions stipulated in the provisions to Article 1 of the Supplementary
Provisions of the “Act Partially Amending the Companies Act” (Act No. 70 of 2019) are
due to come into effect on September 1, 2022. Accordingly, to prepare to introduce asystem for providing reference documents, etc. for a General Meeting of Shareholders
in electronic format, etc., the Company will amend its Articles of Incorporation as
described below.
①Article 13, Paragraph 1 in the proposed amendment stipulates that the Company
shall take measures for providing information that is the contents of reference
documents, etc. for a General Meeting of Shareholders in electronic format, etc.
②Article 13, Paragraph 2 in the proposed amendment stipulates that the Company
shall establish a provision for limiting the scope of matters to be described in
documents issued to shareholders who requested the issuance of such a
document.
③Accordingly, the provision of Article 13 in the current Articles of Incorporation(Internet Disclosure of Reference Documents, Etc. for a General Meeting of
Shareholders) will become unnecessary, and the Company will delete it.
④With the additions and deletion mentioned above, a supplementary provision
concerning the effective date, etc. will be established.
(4) Amendments shall also be made to adjustments and changes to wordings.
2. Details of the proposed amendment
The details of the proposed amendment are as shown in the attachment.
3. Schedule of amendments
Annual General Shareholders’ Meeting held to approve the amendments to the
Articles of Incorporation: June 21, 2022
Effective date of amendments of Articles of incorporation: June 21, 2022

<Attachment>
Current Articles of Incorporation
Chapter 1
GENERAL PROVISIONS
Articles 1 to 4 (Text omitted)
Chapter 2
SHARES
Articles 5 to 10 (Text omitted)
Chapter 3
GENERAL MEETING OF SHAREHOLDERS
Convocation
Article 11
An ordinary general meeting of shareholders of the Company
shall be convened in June of each year, and an extraordinary
general meeting of shareholders may be convened whenevernecessary. General meetings of shareholders shall be convened
in Osaka Prefecture.
(Newly adopted)

Article 12 (Text omitted)
Disclosure of Reference Materials for General Meeting of
Shareholders via the Internet and Deemed Provision
Article 13
When convening a general meeting of shareholders, it may bedeemed that the Company has provided shareholders withinformation concerning matters that should be described orpresented in reference materials for the general meeting ofshareholders, business reports, and non-consolidated andconsolidated financial statements, provided that they aredisclosed via the Internet in accordance with the provisions of
the Ordinance of the Ministry of Justice.
(Newly adopted)

Articles 14 to 16 (Text omitted)
Chapter 4
DIRECTORS AND BOARD OF DIRECTORS
Article 17 (Text omitted)
Number of Directors
Article 18
The number of Directors of the Company shall not be morethan sixteen (16).
(Newly adopted)(The amended sections are underlined)
Proposed Amendments
Chapter 1
GENERAL PROVISIONS
Article 1 to 4 (Unchanged)
Chapter 2
SHARES
Article 5 to 10 (Unchanged)
Chapter 3
GENERAL MEETING OF SHAREHOLDERS
Convocation
Article 11(1) An ordinary general meeting of shareholders of theCompany shall be convened in June of each year, and an
extraordinary general meeting of shareholders may be
convened whenever necessary.
(2) The Company may hold a general meeting of shareholders
without a designated venue if the Board of Directors
decides that holding the meeting with a designated venue is
not appropriate due to spread of infection, occurrence of
natural disasters, etc.
Article 12 (Unchanged)(Deleted)

Measures for Provision in Electronic Format, etc.
Article 13(1) When convening a general meeting of shareholders, theCompany shall electronically provide information
presented in the Reference Documents for the General
Meeting of Shareholders, etc.
(2) The Company may opt to omit part or all of information
specified by the Ordinance of the Ministry of Justice that is
to be electronically provided from paper documents
distributed to shareholders who request such documents
prior to the record date for voting rights.
Article 14 to 16 (Unchanged)
Chapter 4
DIRECTORS AND BOARD OF DIRECTORS
Article 17 (Unchanged)
Number of Directors
Article 18(1) The number of Directors (excluding Directors who also
serve as Audit and Supervisory Committee Members)
shall not be more than twelve (12).
(2) The number of Directors who also serve as Audit andSupervisory Committee Members shall not be more thanfour (4).

Election of Directors
Article 19(1) Directors shall be elected by a resolution of the general
meeting of shareholders.

Election of Directors
Article 19(1) Directors who are and who are not Audit and Supervisory
Committee Members shall be separately elected by aresolution of the general meeting of shareholders.
(2) (Text omitted)(2) (Unchanged)(3) (Text omitted)(3) (Unchanged)
Term of office for Directors
Term of office
Article 20
Article 20(1) The term of office of Directors shall expire at the close of(1) The term of office of Directors (excluding Directors who
the ordinary general meeting of shareholders held withalso serve as Audit and Supervisory Committee Members)
respect to the last business year ending within one (1) year
shall expire at the close of the ordinary general meeting ofafter their election.
shareholders held with respect to the last business year
ending within one (1) year after their election.
(2) The term of office of a Director elected to increase the(Deleted)
number of Directors or to fill the vacancy of a Director
who retired prior to the expiration of his/her term of officeshall expire upon the expiration of the term of office of theother Directors then in office.
(Newly adopted)(2) The term of office of Directors who also serve as Audit
and Supervisory Committee Members shall expire at theclose of the ordinary general meeting of shareholders heldwith respect to the last business year ending within two (2)years after their election.
(Newly adopted)(3) The term of office of a Director who also serves as an
Audit and Supervisory Committee Member elected to fill
the vacancy of a Director who also serves as an Audit andSupervisory Committee Member who retired prior to the
expiration of his/her term of office shall expire at the sametime as the term of office of the retired Director who also
serves as an Audit and Supervisory Committee Member.
Article 21 (Text omitted)
Article 21 (Unchanged)
Board of Directors
Board of Directors
Article 22
Article 22
The Board of Directors shall consist of all Directors and make(1) The Board of Directors shall consist of all Directors anddecisions on the execution of important business of themake decisions on the execution of important business ofCompany.
the Company, except when assignments are separately
arranged for Directors as per the following provisions.
(Newly adopted)(2) As per Article 399-13, Paragraph 6 of the Companies Act,
the Board of Directors may assign Directors to makedecisions on the execution of important business, in partor whole (excluding matters specified in the items under
Article 399-13, Paragraph 5).
Article 23 (Text omitted)
Article 23 (Unchanged)
Notice to Convene Meeting of Board of Directors
Notice to Convene Meeting of Board of Directors
Article 24
Article 24(1) The notice to convene a meeting of the Board of Directors(1) The notice to convene a meeting of the Board of Directors
shall be given to each Director and Corporate Auditor atshall be given to each Director at least three (3) days prior
to the date of the meeting; provided, however, that theleast three (3) days prior to the date of the meeting;above period may be shortened in case of emergency.
provided, however, that the above period may be
shortened in case of emergency.
(2) Notwithstanding the provisions of the preceding(2) When all Directors give unanimous consent, the meeting
paragraph, when all Directors and Corporate Auditors giveof the Board of Directors may be held without the formal
convocation procedures.
unanimous consent, the meeting of the Board of Directors
may be held without the formal convocation procedures.
Representative Directors and Directors with Specific Titles
Representative Directors and Directors with Specific Titles
Article 25
Article 25(1) The Company shall elect Representative Directors by a(1) The Company shall elect Representative Directors fromresolution of the Board of Directors.
among Directors (excluding Directors who also serve as
Audit and Supervisory Committee Members) by aresolution of the Board of Directors.

(2) (Text omitted)(3) The Company may, by a resolution of the Board of
Directors, elect a President, a Chairman, and one or more
Vice Presidents, Senior Managing Directors and Managing
Directors from among the Directors.

Resolutions of Board of Directors
Article 26(1) (Text omitted)(2) Notwithstanding the provisions of the preceding
paragraph, the Company shall deem that matters to beresolved by the Board of Directors are adopted by aresolution of the Board of Directors if all Directors
consent to such matters in writing or electronically, unless
any Corporate Auditor expresses his/her objection to suchmatters.
Article 27 (Text omitted)
Remuneration, etc. for Directors
Article 28
The remuneration, etc. for Directors shall be determined by aresolution of the general meeting of shareholders.

Chapter 5
CORPORATE AUDITORS AND BOARD OF CORPORATE
AUDITORS
Establishment of Corporate Auditors and Board of Corporate
Auditors
Article 29
The Company shall establish Corporate Auditors and a Boardof Corporate Auditors.
Number and Election of Corporate Auditors
Article 30(1) The number of Corporate Auditors of the Company shallnot be more than four (4).
(2) Corporate Auditors shall be elected by a resolution of thegeneral meeting of shareholders.
(3) Resolutions for the election of Corporate Auditors shall be
adopted by an affirmative vote of the majority of voting
rights of shareholders present at the general meeting ofshareholders, a quorum for which shall be the presence ofshareholders with one-third (1/3) or more of the voting
rights exercisable for such meeting.
Term of Office of Corporate Auditors
Article 31
The term of office of Corporate Auditors shall expire at theclose of the ordinary general meeting of shareholders held withrespect to the last business year ending within four (4) years
after their election.
Exemption from Liability of Corporate Auditors
Article 32(1) The Company may, by a resolution of the Board of
Directors, exempt a Corporate Auditor (including a person
who was a Corporate Auditor) from the liability as set
forth in Article 423, paragraph 1 of the Companies Act tothe extent of the limit provided for in laws and regulations,provided that such Corporate Auditor has performed
his/her duties in good faith and without gross negligence.

(2) (Unchanged)(3) The Company may, by a resolution of the Board of
Directors, elect a President, a Chairman, and one or more
Vice Presidents, Senior Managing Directors and Managing
Directors from among the Directors (excluding Directors
who also serve as Audit and Supervisory Committee
Members).
Resolutions of Board of Directors
Article 26(1) (Unchanged)(2) The Company shall deem that matters to be resolved by
the Board of Directors are adopted by a resolution of theBoard of Directors if all Directors consent to such mattersin writing or electronically.

Article 27 (Unchanged)
Remuneration, etc. for Directors
Article 28
The remuneration, etc. for Directors who are and who are not
Audit and Supervisory Committee Members shall be separately
determined by a resolution of the general meeting ofshareholders.
(Deleted)(Deleted)(Deleted)(Deleted)(Deleted)(2) The Company may enter into a contract with an outside
Corporate Auditor to limit the liability of such outside
Corporate Auditor as set forth in Article 423, paragraph 1of the Companies Act up to the limit of the amountprovided for in laws and regulations, provided that suchoutside Corporate Auditor has performed his/her duties ingood faith and without gross negligence.
Full-time Corporate Auditors
Article 33
The Board of Corporate Auditors shall elect full-time Corporate
Auditors from among the Corporate Auditors.
Notice to Convene Meeting of Board of Corporate Auditors
Article 34
The notice to convene a meeting of the Board of Corporate
Auditors shall be given to each Corporate Auditor at least three(3) days prior to the date of the meeting; provided, however,that the above period may be shortened in case of emergency.
Board of Corporate Auditors Regulations
Article 35
Matters relating to the Board of Corporate Auditors shall begoverned by laws and regulations or by these Articles ofIncorporation as well as the Board of Corporate Auditors
Regulations established by the Board of Corporate Auditors.

Remuneration, etc. for the Board of Corporate Auditors
Article 36
The remuneration, etc. for Corporate Auditors shall be
determined by a resolution of the general meeting ofshareholders.
(Newly adopted)(Newly adopted)(Newly adopted)(Newly adopted)(Deleted)(Deleted)(Deleted)(Deleted)

Chapter 5
AUDIT AND SUPERVISORY COMMITTEE
Establishment of Audit and Supervisory Committee
Article 29
The Company shall establish an Audit and Supervisory
Committee.
Full-time Audit and Supervisory Committee Members
Article 30
The Audit and Supervisory Committee may select full-time
Audit and Supervisory Committee Members from among the
Audit and Supervisory Committee Members.
Notice to Convene a Meeting of the Audit and Supervisory
Committee
Article 31(1) The notice to convene a meeting of the Audit andSupervisory Committee shall be given to each Audit andSupervisory Committee Member at least three (3) days
prior to the date of the meeting; provided, however, thatthe above period may be shortened in case of emergency.
(2) When all Audit and Supervisory Committee members
give unanimous consent, the meeting of the Audit andSupervisory Committee may be held without the formal,
convocation procedures.

(Newly adopted)

Chapter 6
ACCOUNTING AUDITORS
Articles 37 to 39 (Text omitted)
Remuneration, etc. for Accounting Auditors
Article 40
The remuneration, etc. for Accounting Auditors shall be
determined by Representative Directors with the consent of theBoard of Corporate Auditors.
Chapter 7
ACCOUNTS
Articles 41 to 44 (Text omitted)
Chapter 8
TAKEOVER DEFENSE MEASURES
Articles 45 to 46 (Text omitted)(Newly adopted)(Newly adopted)(Newly adopted)

Audit and Supervisory Committee Regulations
Article 32
Matters relating to the Audit and Supervisory Committee shallbe governed by laws and regulations or by these Articles ofIncorporation as well as the Audit and Supervisory Committee
Regulations established by the Audit and Supervisory
Committee.
Chapter 6
ACCOUNTING AUDITORS
Articles 33 to 35 (Unchanged)
Remuneration, etc. for Accounting Auditors
Articles 36
The remuneration, etc. for Accounting Auditors shall be
determined by Representative Directors with the consent of the
Audit and Supervisory Committee.
Chapter 7
ACCOUNTS
Articles 37 to 40 (Unchanged)
Chapter 8
TAKEOVER DEFENSE MEASURES
Articles 41 to 42 (Unchanged)
SUPPLEMENTARY PROVISIONS
Transitional Measures regarding Exemption from Liability ofCorporate Auditors
Article 1
The Company may, by a resolution of the Board of Directors,
exempt a Corporate Auditor (including a person who was a
Corporate Auditor) from the liability as set forth in Article 423,
paragraph 1 of the Companies Act for actions taken prior to theclosure of the 94th Ordinary General Meeting of Shareholders
to the extent of the limit provided for in laws and regulations,provided that such Corporate Auditor has performed his/herduties in good faith and without gross negligence.
Enforcement of the provision on Measures for Provision inElectronic Format, etc.
Article 2(1) The deletion of Article 13 of the current Articles ofIncorporation (Disclosure of Reference Materials for
General Meeting of Shareholders via the Internet andDeemed Provision) and adoption of Article 13 of the
Proposed Amendments (Measures for Provision inElectronic Format, etc.) will take effect on the effective
date of the revised provisions stipulated in the proviso to
Article 1 of the Supplementary Provisions of the Act
Partially Amending the Companies Act (Act No.70 of2019) (hereinafter the “Effective Date”).
(2) Notwithstanding the provisions in the preceding paragraph,
Article 13 of the current Articles of Incorporation willremain effective for the general meeting of shareholders
that takes place within six (6) months from the Effective
Date.
(3) This Article will be deleted six (6) months after the
Effective Date or three (3) months after the date of thegeneral meeting of shareholders mentioned in the previous
paragraph, whichever comes later.