(Attachment 1 to the Corporate Governance Principle)
Independence Standards for Outside Directors and Outside Audit &Supervisory Board Members
Nippon Sanso Holdings Corporation (the “Company”) shall deem that a candidate foroutside director or outside Audit & Supervisory Board member has independence fromthe Company if none of the following items apply to the candidate based on its
investigation conducted to the extent reasonable and possible.
1. A person engaged in business execution of the Company or its subsidiaries(collectively, the “Group”) (Note 1)
2. A person engaged in business execution of the Company’s parent company or its
fellow subsidiaries
3. A major shareholder of the Company (shareholder that directly or indirectly owns
10% or more of its total voting rights) or a person engaged in business execution ofsuch shareholder
4. A major business partner of the Group or a person engaged in business execution ofsuch business partner(1) A major supplier (Note 3) of the Company or its significant subsidiaries (Note 2)
or a person engaged in business execution of such supplier(2) A major client (Note 4) of the Company or its significant subsidiaries or a person
engaged in business execution of such client(3) A major financial institution from which the Group borrows funds or a person
engaged in business execution of such financial institution
5. A person engaged in business execution of an audit firm that serves as the Group’s
accounting auditor
6. A person engaged in business execution of a company in which a person engaged inbusiness execution of the Group serves as an outside director or outside audit &supervisory board member
7. A consultant, accountant, legal specialist, or other professional who has received anaverage of 10 million yen or more in money or other property on average over themost recent three fiscal years from the Group in addition to director compensation(Note 6)11

8. A person who has received donations of 10 million yen or more on average over themost recent three fiscal years from the Group, or if it is a corporation, association, orother organization, a board member or person engaged in business execution of suchorganization
9. A spouse or relative within the second degree of kinship of a person who applies tothe following (excluding those who are not important):(1) a person who falls under any of 1 through 8 above
Note that 1 and 2 above apply to candidates who fit each description within the previous
10 years, while 3 through 8 above apply to candidates who fit each description within theprevious three years.
Supplementary Provision: This document shall become effective on April 1, 2022, for
new appointments.
Notes:
1. “Person engaged in business execution” refers to a director, corporate officer, executiveofficer, partner who executes the business, board member, or other equivalent person oremployee of a corporation, association, or other organization.
2. The Company’s “significant subsidiaries” are Taiyo Nippon Sanso Corporation, Matheson
Tri-Gas, Inc., Nippon Gases Euro-Holding S.L.U., and Thermos K.K.
3. “Major supplier” refers to a counterparty that has received payment equivalent to 2% ormore of its annual consolidated net sales in the most recent fiscal year from the Company
or its significant subsidiaries.
4. “Major client” refers to a counterparty to which the Company or its significant subsidiaries
has sold goods or services in an amount equivalent to 2% or more of the consolidated net
sales of the Company or its significant subsidiaries in the most recent fiscal year.
5. “Major financial institution” refers to a financial institution from which the Group isborrowing funds and the outstanding balance is 2% or more of the consolidated total assetsof the Company at the end of the most recent fiscal year.
6. If it is a corporation, association, or other organization that has received such property, thisitem also applies to a person who belongs to such organization.

12