June 6, 2024

The Results of the Effectiveness Evaluation of the Board of Directors
Nissan Chemical Corporation (headquartered in Chuo-ku, Tokyo; President, YAGIShinsuke) (the “Company” or “we”) has approved the results of the effectivenessevaluation of our Board of Directors for the fiscal year 2023 by resolution of the Board ofDirectors’ meeting held on May 28, 2024. The Company announces as follows:
1. Effectiveness Evaluation of the Board of Directors
Every year since the fiscal year 2015, the Company analyzes and evaluates to assess
whether our Board of Directors has fulfilled its key roles and responsibilities(“Effectiveness Evaluation”). We perform the Effectiveness Evaluation, basically
employing the self-assessment process by the Board of Directors. To ensure theneutrality and objectivity of the evaluation process, the Company also conducts athird-party evaluation every three (3) years using an external organization that has norelationship of interest with us.
For the Effectiveness Evaluation for the fiscal year 2023, the Company performed thethird-party evaluation. Based on the questionnaire responses and individualinterviews with Directors and Audit & Supervisory Board Members, we had an internal
opinion exchange meeting in March 2024. The attendees were independent Officersof the Company (consisting of three (3) Outside Directors and three (3) Outside Audit& Supervisory Board Members), the Chairman & CEO, and the President & COO.
They discussed, analyzed, and evaluated the issues to address and the measures tobe taken. The outcomes of their analysis and evaluation and the selection of thepriority issues to address (as clarified in 3. below) were further deliberated andconfirmed at the Board of Directors’ meeting held in May 2024.
2. Outline of the Results of the Effectiveness Evaluation
With the object of performing its key roles and responsibilities, the results of theEffectiveness Evaluation concluded that, generally, our Board of Directors wasoperating appropriately in its totality; the improvements have been made to solve
issues identified in the Effectiveness Evaluation for the fiscal year 2022. Thus, theeffectiveness of our Board of Directors was positively assessed and confirmed asbeing sufficiently ensured.

3. Actions to Take
Through the discussions at the above opinion exchange meeting, we acknowledged
the following points as actions to take; thus, we agreed to strive to realize them toelevate the effectiveness of the Board of Directors.
(1) We should deepen our discussions on, among other things, the material

issues of each business segment, our business portfolio in the mid-to-long
term, and the allocation of management resources.
(2) We should discuss the future composition of the Board of Directors and what

the Board of Directors should be about.
(3) We should create an enabling environment for all the Directors and Audit &Supervisory Board Members to exchange opinions and discuss the agenda
more frankly or openly by explaining the agenda or propositions more
sufficiently and improving necessary equipment for the conference. Further,internal Directors should strive to join the discussions from the company-wide
perspectives to promote such an environment.
Based on the latest results of the Effectiveness Evaluation, the Company will deepen
discussions at the Board of Directors and advance actions to enhance its effectiveness.
Moreover, by regularly measuring improvements through the Effectiveness Evaluation
and aiming for a further upgrade of the effectiveness of our Board of Directors, we will becommitted to the Company’s sustainable development and increasing corporate value.

Contact information for inquiries on the above
Nissan Chemical Corporation
Corporate Planning Department
Planning Office, Public Relations Group