March 16, 2023
Company nameName of representiveInquiries

AIR WATER INC.
(Kikuo Toyoda), Representative
Director and President(Securities code: 4088;Prime Market)(Koichi Nakai), General
Manager Corporate
Communications Office(Telephone: +81 06-6252-3966）

Notice of Change of Representative Directors
Air Water Inc. (the Company) announced that, at a meeting held today, its Board of Directors resolved on changeof its Representative Directors. Details are as follows.
Change of Representative Directors (April 1, 2023)
1. Reason of the change
Under its long-term vision toward FY2030 “terrAWell 30”, the Company has aimed to contribute tosolving social issues through its business activities, achieve sustainable growth and further improve its
corporate value in line with its two growth axes of "Global Environment" and "Wellness" formulated in viewof global social issues.
To accelerate the promotion of the Group's growth strategy based on this management policy, theCompany will shift to a new management system.
2. Details of the change
Name

New title

Current title

RyosukePresident and Representative Director,

Matsubayashi

Chief Operating Officer (COO)

Masahiro Toyoda

Corporate Director

Kiyoshi Shirai

Corporate Director

Representative Director, Executive Vice
President, Chief Operating Officer (COO)
In Charge of Global and Engineering
ChairmanEmeritus

andRepresentativeDirector
President and Representative Director,
Chief Operating Officer (COO)

Representative Director, Executive Vice
Masato Machida

President

Corporate Director

In Charge of Corporate Strategy Center*1. At the Annual General Meeting of Shareholders scheduled for June 23, 2023, Masahiro Toyoda will retire1

as Corporate Director and become Senior Advisor Emeritus, Kiyoshi Shirai will retire as CorporateDirector and become Senior Advisor, and Masato Machida will retire as Corporate Director and become
Advisor.
2. Consequently, the Company's Representative Directors from April 1, 2023 will be the following two
persons: Kikuo Toyoda, Chairman and Representative Director, Chief Executive Officer (CEO) andRyosuke Matsubayashi, President and Representative Director, Chief Operating Officer (COO).
3. Profile of Ryosuke Matsubayashi, new President and Representative Director (as of March 16, 2023)

Name

Ryosuke Matsubayashi

Date of birth

November 16, 1964; Age: 58

Place of birth

Osaka

Academic

Faculty of Textile Science, Kyoto Institute of Technology

background

CareerApril 1988: Joined Daido Sanso Co., Ltd. [which merged with Air Water Inc. in April 1993]

summary

July 2006: Head of Process Development Center, Air Water Comprehensive Development
Research InstituteJune 2014: General Manager of Engineering Division, Industry Company, and Executive
Officer of Air Water Inc.
April 2017: General Manager of Engineering Administration Office, and Senior Executive
Officer of Air Water Inc.
President and Representative Director of Air Water Plant & Engineering, Inc.
June 2018: Corporate Director in charge of Engineering Administration Office of Air
Water Inc., and President and Corporate Director of Air Water America Inc.
June 2020: Managing Executive Officer in charge of Global & Engineering Division of Air
Water Inc., and President and Corporate Director of Air Water America Inc.
June 2022: Representative Director, Executive Vice President, Chief Operating Officer(COO) in charge of Global and Engineering of Air Water Inc.

Numbershares heldof

19,000 shares (as of February 28, 2023)

2