VERIFICATION STATEMENTStatement No.: PRJN-573469

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initiate reporting ofVerification of Daio Groupʼs Non-financial Information (2022)< Verification Objectives >DNV Business Assurance Japan K.K. (hereinafter, "DNV") has been commissioned by Daio Paper
Corporation (hereinafter "the Organization") to perform an independent verification of the calculation
results of the Daio Group's non-financial information, including environmental data and occupational
accident data for FY2022 (hereafter “the non-financial information") . The objective of this verification isto confirm that the non-financial information claimed by the Organization has been calculated andreported appropriately based on the calculation standards, and to express an independent opinion.

< Verification Scope >The scope of this verification is as follows.
 GHG emissions

︓Scope1、Scope2、 Scope3（Category 1、2、3、4、5、6、7、9、12） Water use

︓Amount of water use and wastewater Waste︓Amount of waste and waste reuse Occupational Accident Data

︓Lost Time Injury Frequency Rate

< Verification Criteria >The criteria for identification, calculation, monitoring, and reporting of GHG (greenhouse gas), water use,
waste, and occupational accident data to be verified are the calculation and reporting procedures
established by the Organization. The criteria for verification include ISO 14064-3:2019, ISAE 3000, as wellas the criteria required by the calculation and reporting procedures established by the Organization.

< Verification Process and Methodology >The reviews of the non-financial information, relevant documents, and subsequent follow-up interviews
have provided DNV with sufficient evidence to determine the fulfilment of stated criteria.

< Verification Statement >The reviews of the non-financial information, relevant documents, and subsequent follow-up interviews
have provided DNV with sufficient evidence to determine the fulfilment of stated criteria.
Place and date: Kobe, Japan, 31 August 2023
DNV Business Assurance Japan K.K.

Tsuyoshi Katori

Koichiro Tanabe

Naoki Maeda

Approved Verifier

Approved Verifier, Technical Reviewer

Managing Director

Page 2 of 2This Verification Opinions is based on the information made available to us and the engagement conditions detailed above. Hence, DNV cannot guarantee
the accuracy or correctness of the information. DNV cannot be held liable by any party relaying or acting upon this Verification Opinion.
DNV Business Assurance Japan K.K. Sannomiya Bldg. South 11th Floor, 7-1-15, Goko-dori, Chuo-ku, Kobe 651-0087

< Period Covered by Calculation >The period covered by the FY2022 non-financial information is 1 April 2022 to 31 March 2023.
※Only for the lost time injury frequency rate, the period covered is 1 January 2022 to 31 December 2022.

< Organization Boundary of Verification >Management Control

Equity ShareOthers< GHG data verified >DNVʼs opinion is that the GHG data results in the quantification of GHG emissions that are real, transparent
and measurable.

 Type of GHGs

︓CO2CH4

 Amount of GHG emissions（Scope1&2）（Scope3）

N2O

HFCs

PFCs

SF6

NF3

︓4,157,928 tCO2e︓2,296,972 tCO2e

Emissions by Scope 3 Categories
Category 1: Purchased goods and services

1,320,575 t-CO2e

Category 2: Capital goods※Excluding overseas

123,902 t-CO2e

Category 3: Fuel- and energy-related activities (notincluded in Scope 1 or Scope 2)

123,318 t-CO2e

Category 4: Upstream transportation and distribution

408,208 t-CO2eCategory 5: Waste generated in operations

26,749 t-CO2e

Category 6: Business travel

1,642 t-CO2e

Category 7: Employee commuting

5,943 t-CO2e

Category 9: Downstream transportation and distribution

109,108 t-CO2e

Category 12: End-of-life treatment of sold products

177,526 t-CO2e※Excluding overseas※Excluding overseas※ The scope of each category is the Organization and its group (Up to 30 consolidated subsidiaries).

< Water use, Waste and Occupational Accident Data verified >DNVʼs opinion is that the water use, waste and occupational accident data results in the quantification ofwater use that are real, transparent, and measurable.

 Amount of Water use
 Amount of Wastewater Amount of Waste
 Amount of Waste Reuse

︓175,883,720 m3
︓166,016,355 m3
︓289,285 t
︓280,785 t

 Lost Time Injury Frequency Rate︓1.01

The reported values above are fully covered by the verification.

< Verification Opinion >Unmodified Opinion

Modified Opinion

Adverse Opinion

As an independent third party, DNV has no financial dependencies on the Organization.

This Verification Opinions is based on the information made available to us and the engagement conditions detailed above. Hence, DNV cannot guarantee
the accuracy or correctness of the information. DNV cannot be held liable by any party relaying or acting upon this Verification Opinion.
DNV Business Assurance Japan K.K. Sannomiya Bldg. South 11th Floor, 7-1-15, Goko-dori, Chuo-ku, Kobe 651-0087