Note: This document is a translation of the original Japanese version and provided for reference purposes only.
In the event of any discrepancy between the Japanese original and this English translation, the Japanese original
shall prevail.

Company: TODA CORPORATION
Representative: Seisuke Otani, President and Representative Director(Securities Code: 1860 TSE Prime Market)
Contact: Toshiyuki Kubodera, General Manager, Financial & IR Div.
(Phone: 03-3535-1357)

February 29, 2024

Notice Concerning the Introduction of Post-Delivery Type Stock
Grant Program for Domestic Group Employee Shareholding Association
TODA CORPORATION (the “Company”) hereby announces that at the Board of Directors Meeting held today,
the Company has resolved to introduce a scheme to grant post-delivery type stock to employees of its domestic
Group companies (the “Employees”) through the TODA CORPORATION Group Employee Shareholding
Association (the “Shareholding Association”) as an incentive program for the Employees (the “Program”) as

described below.
1.

Purpose of introducing the Program
Our domestic Group companies have been offering incentives to the Employees who participate in theShareholding Association for the purpose of building their wealth and motivating them to work through theownership of the Company's common stock, and will now introduce the Program to further promote thisconcept.
The introduction of the Program is intended to provide the Employees with an opportunity to acquire
shares of the Company's common stock through the Shareholding Association, thereby sharing shareholder
value over the medium- to long-term, contributing to medium- to long-term improvements in the Company's
business performance and corporate value, and providing incentives to motivate the Employees to continue
working for the Group.
2.

Outline of the Program(1) Eligible persons

The Shareholding Association participants who madecontinuous contributions and did not make any withdrawals
during the eligible period (May through December 2024).
* Inactive Shareholding Association participants, those whohave withdrawn from the Shareholding Association forpersonal reasons, and those who reside overseas are noteligible.
(2) When to grant

Scheduled for March after the end of the eligible period.

(3) Eligible period

May 1, 2024 to December 31, 2024

(4) Number of shares granted per person 100 shares per person.
(5) Expected number of eligible persons

Maximum 940.

(6) Number of shares allocated

The maximum total number of shares allocated to theShareholding Association is 94,000.

Under the Program, the Group company shall grant points to employees who are the Shareholding
Association participants and have agreed to the Program (the “Eligible Employees”) after the end of the eligible
period as predetermined by the Group company.

After the points are granted, the Group company shallprovide a monetary claim to the Eligible Employee as a special stock incentive for the grant of shares of theCompany's common stock (the “Special Stock Incentive”), and the Eligible Employee shall contribute theSpecial Stock Incentive to the Shareholding Association.
The Shareholding Association shall make an in-kind contribution to the Company of the Special Stock
Incentive contributed by the Eligible Employees, and the Company shall allot shares of the Company's
common stock by means of issuance of new shares or disposal of own shares. The number of shares to beallotted may be reasonably adjusted in the event of unavoidable circumstances requiring adjustments of thenumber of shares, such as a stock split, gratis allotment of shares, or consolidation of shares of the Company'scommon stock.
The allocation and management of the shareholdings in the Shareholding Association to be allocated shallbe conducted through Mitsubishi UFJ Morgan Stanley Securities Co., Ltd., the administrative agent of theShareholding Association.
Specific details regarding the Program will be announced as soon as they are determined by the Board ofDirectors.
(Reference)【Structure of the Program】
1. The Company and the domestic Group companies shall establish the Rules for Granting of Post-Delivery
Type Stock, and the Shareholding Association shall amend its terms and agreements to include details
relating to the granting of Special Stock Incentive.
2. The domestic Group company provides each participant with a Special Stock Incentive payment (in March
after the end of the eligible period).
3. Each participant contributes the Special Stock Incentive paid to the Shareholding Association (in March
after the end of the eligible period).
4. The Company allots the Company's common stock to the Shareholding Association.
5. The Shareholding Association aggregates the Special Stock Incentive contributions made by theparticipants and pays them to the Company.

6. The allocated Company's common stock shall be distributed and managed as participants' shareholdings
within the Shareholding Association through Mitsubishi UFJ Morgan Stanley Securities Co., Ltd., theadministrative agent of the Shareholding Association.
* The participants may withdraw their shareholdings at their own discretion.

The Group Companies

2. Special Stock Incentive payment
1. Establishment of the Rules for
Granting of Post-Delivery Type Stock

Participants(Employees ofGroup Companies)

3. Contribution

The Company

1. Amendments of the Terms andAgreements of the Shareholding
Association
5. Payment of contributions* Withdrawal ofthe shareholdings

The Shareholding
AssociationParticipants'shareholdings

4. Share allotment
1. Establishment of the Rules for
Granting of Post-Delivery Type Stock

6. Distribution and managementof the shareholdings

Mitsubishi UFJ Morgan Stanley
Securities Co., Ltd.

End