Modern Slavery Report
At Metal One Corporation (“MO”), we are committed to acting ethically and with integrity in all of our businessdealings and relationships, and to promote compliance with applicable laws and protect the dignity and rights
of all people connected to our business. We strive to work ever more closely with our suppliers to ensure theirworkforce, and the workforce of their supply chains, are treated with respect and dignity. At the heart of ourmission lies a commitment to fostering inclusive workplaces and sourcing products responsibly.
This report is made in accordance with Section 11 of the Fighting Against Forced Labour and Child Labour in
Supply Chains Act (S.C. 2023, c. 9) and reports on MO’s financial year ending March 31, 2024. It outlines themeasures we have in place and the efforts we have commenced to assess and address risks of forced labourand child labour in our business and supply chain.

1Our structure, activities and supply chains
Established in 2003, MO is a steel trading company owned by Mitsubishi Corporation and Sojitz
Corporation. MO handles a broad range of steel products, including steel sheets, steel plates, steel
pipes, wire rods, and others. MO is a general trading company whose group of companies (the “MOGroup”) operates at over 150 locations worldwide. MO Group’s business is organized into fiveBusiness Divisions:(a)Plate, Construction & Tubular Products Business Division: We handle steel plates andpipes, construction materials, steel scrap and other products for heavy industry andinfrastructure, including construction and industrial machinery, plants, construction andshipbuilding.

(b)Flat Products Business Division: Our business model is based on steel sheet, which has awide range of uses in sectors that include cars, electrical machinery, construction materials,steel furniture and containers.

(c)

Global Business Division: We also serve as trailblazers in the EV market, blending theexpertise and experience we have cultivated while handling electrical steel sheet for electricalmachinery and motors.

(d)Global Marketing & Energy Project Business Division: We engage in the trade of steel
products and semi-finished products using the MO Group’s network and apply the abundant
experience and expertise we have developed as a general trading company to the numerous
projects related to harvesting oil, natural gas and other energy sources.

(e)Wire, Specialty & Stainless Steel Business Division: We supply wire rods for diverse
purposes, including in cars, home appliances, civil engineering and construction.

The vast majority of MO’s suppliers are located in Japan, and consist of steel manufacturers such as
integrated steelmakers and electric furnace steelmakers.
To learn more about our business, please visit https://www.mtlo.co.jp/us/index.php.

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Our modern slavery risk profile
Within our operations, we have assessed our risk profile based on sector and industry risks as low. Allof our workers are employed in Japan, and we have fair and responsible employment practices inplace to protect and promote workers’ rights.

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3Our policies and due diligence
To ensure MO conducts business in a socially responsible manner, MO has implemented a Code ofConduct which all officers, employees and contractors of MO must comply with. The Code of Conduct
specifically prohibits the use of forced labour and child labour. There is also a requirement tocollaborate with suppliers and business partners to ensure that MO does not contribute to any violationof human rights and to promptly report any violations of the Code of Conduct.
As part of its due diligence in ensuring its operations and supply chain are free of forced labour andchild labour, MO includes, in its General Terms and Conditions for purchase and sale contracts,
provisions requiring counterparties to comply with all laws for the prevention of slavery or humantrafficking.

4Our training
We are currently considering the development of appropriate training resources to ensure ouremployees are aware and capable of recognizing and reporting the risks of forced labour and childlabour in our business and supply chain.

5Remediation measures
We recognize that any forced labour or child labour found in an organization’s business or supply chain
should be addressed on a first-priority basis. We have not discovered any instances of forced labouror child labour in our business and supply chains, therefore, no remediation measures have beennecessary.

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Assessing effectivenessWe do not currently assess the effectiveness of our actions in preventing and reducing risks of modern
slavery in our operations and supply chain. As we explore and implement further measures to preventand mitigate modern slavery risks in our operations and supply chains, we will monitor and review
performance to assess the effectiveness of any actions taken.

7Approval
This report was approved by MO’s executive committee pursuant to a delegation of authority grantedby MO’s Board of Directors in accordance with Paragraph 11(4)(a) of the Fighting Against Forced
Labour and Child Labour in Supply Chains Act on May 28, 2024.

By: ______________________
Keisuke Kitamura
President & CEO, Director
Date: May 28, 2024
I have the authority to bind Metal One Corporation.

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