Top Commitment

Sustainability at the ITOCHU Group

Environment

SocietyGovernance

SDGs Bond (Sustainability Bond)

Evaluation by Society

Independent Assurance Report

202

Evaluation by Society
Inclusion in FTSE4Good Index Series・FTSE Blossom Japan Index・FTSE
Blossom Japan Sector Relative Index

We have earned AAA, the highest MSCI ESG Rating, as a first trading company in December 2020, andhave maintained this highest rating ever since.

The FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong
Environmental, Social and Governance (ESG) practices.
The FTSE Blossom Japan Index and FTSE Blossom Japan Sector Relative Index are both broad ESG
indices and are adopted by the Government Pension Investment Fund (GPIF) of Japan as a core ESG
benchmark for its passive investments.
The use by ITOCHU Corporation of any MSCI ESG Research LLC or its affiliates ( “MSCI” ) data, and the use of MSCI logos, trademarks, service marks
or index names herein, do not constitute a sponsorship, endorsement, recommendation, or promotion of ITOCHU Corporation by MSCI. MSCI
services and data are the property of MSCI or its information providers, and are provided ‘as-is’ and without warranty. MSCI names and logos aretrademarks or service marks of MSCI.
The inclusion of ITOCHU Corporation in any MSCI Index, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement or promotion of ITOCHU Corporation by MSCI or any of its affiliates. The MSCI indexes are the exclusive propertyof MSCI. MSCI and the MSCI index names and logos are trademarks or service marks of MSCI or its affiliates.

FTSE Russell (the trading name of FTSE International Limited and Frank Russell Company) confirms that ITOCHU Corporation has been independently assessed according to the FTSE4Good criteria, and has satisfied the requirements to become a constituent of the FTSE4Good IndexSeries, FTSE Blossom Japan Index, and FTSE Blossom Japan Sector Relative Index. Created by the global index provider FTSE Russell, these indices
are designed to measure the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices, and areused by a wide variety of market participants to create and assess responsible investment funds and other products.

Inclusion in MSCI Japan ESG Select Leaders Index and MSCI Japan
Empowering Women Index (WIN)The MSCI Japan ESG Select Leaders Index is a free float-adjusted market capitalization weighted index
based on the MSCI Japan IMI Top 700 Index, its parent index, which includes large, mid and small-cap
securities in the Japanese markets. The Index is designed to represent the performance of companies thathave high Environmental, Social and Governance (ESG) performance. The index aims to target sector
weights that reflect the relative sector weights of MSCI Japan IMI Top 700 Index in order to limit thesystematic risk introduced by the ESG selection process. Overall the index targets coverage of 50% of theparent index.
MSCI Japan Empowering Women Index (WIN) was created as a benchmark for social themes within
the framework of ESG by U.S. company MSCI. Index figures are calculated using data disclosed under theAct on Promotion of Women’s Participation and Advancement in the Workplace, with constituents
comprised of those companies which earn a high gender diversity score.

Inclusion in Dow Jones Sustainability World Index・Asia Pacific Index(for 10 Consecutive Years)

The DJSI evaluates and analyzes companies from a variety of perspectives and selects stocks based on theresults of an independent survey covering three aspects: economy, environment, and society. As aninternational benchmark for measuring corporate sustainability performance, the DJSI has a significant
impact on corporate behavior.
In S&P Global Corporate Sustainability Assessment, which is used by DJSI as its basic data, ITOCHU
received the highest score in its Trading Companies & Distributors Industry” out of 61 industries. (As ofNovember 2022)

Top Commitment

Sustainability at the ITOCHU Group

Environment

SocietyGovernance

SDGs Bond (Sustainability Bond)

Evaluation by Society

Independent Assurance Report

Evaluation by Society
S&P Global ESG Score 2022 Top 1% Industry Ranking (for Eighth
Consecutive Years)

Inclusion in S&P/JPX Carbon Efficient Index

Inclusion in Morningstar Japan ex-REIT Gender Diversity Tilt Index(GenDi J)

CDP

ITOCHU Corporation was awarded Top1% at the S&P Global ESG Score 2022,
winning the recognition of S&P Global, a U.S. financial research institution thatevaluates companies making efforts in sustainability and offers information toinvestors. ITOCHU has become the top for the eighth consecutive year in the Trading
Companies & Distributors sector. (As of February 2023)

Built with the data and scoring methodology of Equileap, GenDi J is
designed to emphasize the stocks of companies that have strong gender
diversity policies embedded in their corporate culture and that ensure
equal opportunities to employees, irrespective of their gender. (As ofApril 2023)

Morningstar, Inc., and/or one of its affiliated companies (individually and collectively, “Morningstar” ) has authorized Itochu Corporation to use ofthe Morningstar Japan ex-REIT Gender Diversity Tilt Logo ( “Logo” ) to reflect the fact that, for the designated ranking year, Itochu Corporation ranks
in the top quintile of companies comprising the Morningstar® Japan ex-REIT Gender Diversity Tilt IndexSM ( “Index” ) on the issue of gender diversity in the workplace. Morningstar is making the Logo available for use by Itochu Corporation solely for informational purposes. Itochu Corporation
use of the Logo should not be construed as an endorsement by Morningstar of Itochu Corporation or as a recommendation, offer or solicitation
to purchase, sell or underwrite any security associated with Itochu Corporation. The Index is designed to reflect gender diversity in the workplacein Japan, but Morningstar does not guarantee the accuracy, completeness or timeliness of the Index or any data included in it. Morningstar makes
no express or implied warranties regarding the Index or the Logo, and expressly disclaim all warranties of merchantability or fitness for a particularpurpose or use with respect to the Index, any data included in it or the Logo. Without limiting any of the foregoing, in no event shall Morningstar or
any of its third party content providers have any liability for any damages (whether direct or indirect), arising from any party’s use or reliance on theIndex or the Logo, even if Morningstar is notified of the possibility of such damages. The Morningstar name, Index name and the Logo are the trademarks or services marks of Morningstar, Inc. Past performance is no guarantee of future results.

The S&P/JPX Carbon Efficient Index is a global environmental stockindex adopted by Government Pension Investment Fund (GPIF). Using
TOPIX as the universe, this index of S&P Dow Jones Indices, theworld’s leading independent index provider, overweights companies
that have high carbon efficiency within their industry as calculated by
Trucost on a market value basis and companies that disclose
information on greenhouse gas emissions (As of April 2023).

CDP Climate Change
CDP Climate Change evaluates corporate action on climate change.
In FYE 2023, we scored a B.
● CDP Water
CDP Water evaluates corporate efforts related to water stewardship.
In FYE 2023, we scored a A-.
● CDP Supplier Engagement Rating (SER)CDP SER evaluates the performance of the CDP Climate Change
Questionnaire on governance, targets, Scope 3 emissions, and value
chain engagement. In FYE 2023, we scored A-.
●203

Top Commitment

Sustainability at the ITOCHU Group

Environment

Society

Governance

SDGs Bond (Sustainability Bond)

Evaluation by Society

Independent Assurance Report

204

Evaluation by Society
Inclusion in SOMPO Sustainability Index (for 12 Consecutive Years)
This index is used as a unique active index in “SOMPO SustainableManagement”, for pension funds and institutional investors, whichinvests widely in ESG-rated companies that SOMPO Asset ManagementCo., Ltd. started operation in August 2012.

Minister of the Environment Award / Silver Award in the EnvironmentallySustainable Company Category, the Ministry of Environment’s 4th ESG
Finance Awards Japan

By screening and selecting companies proactively engaged inenvironmentally sustainable management, the purpose of theseawards is to share the details of the efforts made by the winningcompanies with even more stakeholders.
We received this award in recognition of the great progress wehave made in efforts required of us as an environmentally sustainable
company and appropriate information disclosures. For example, under
the corporate philosophy of “Sampo-yoshi,” recognizing changes inthe external environment, we will transform our business portfolio
toward decarbonization and achieve “Offset Zero” through the active
promotion of businesses that contribute to the reduction of GHG
emissions, in addition, we have set goals and have governancefunctioning in our sustainability promotion system.

Excellence Award, the Sustainability category of the Internet IR Awards
by Daiwa Investor Relations

The Sustainability category was newly established 2021. ITOCHU was selected for the Excellence Award
from a list of 155 companies (out of 3,946 listed companies) eligible for the IR Award, based on criteriasuch as “home page,” “overall policy,” “environment,” “society,” “governance,” and “support.”

Ranked No. 1 in all industries in Gomez ESG Site Rankings 2022
(for 2 Consecutive Years)
The high recognition was given to our ESG information in the evaluation of listed companies for
information adequacy of websites on Sustainability. ITOCHU was selected on top of the List of Superior
Companies in 377 companies. The survey process consists of five categories: 1) website ease of use, 2)
overall ESG information, 3) Environmental (E) information, 4) Social (S) information, and 5) Governance (G)information. Evaluation criteria are set to assume the use of information by not only shareholders andinvestors, but a wide range of stakeholders.

Top Commitment

Sustainability at the ITOCHU GroupEnvironment

Society

Governance

SDGs Bond (Sustainability Bond)

Evaluation by Society

Independent Assurance Report

205

Evaluation by Society
New Diversity Management Selection 100

A project for selecting excellent companies that provide diverse humanresources with opportunities and an environment for exercising theirpotential. (Selected in 2016 / Ministry of Economy, Trade and Industry)

2017 Award for Excellence from the Minister of Health, Labour andWelfare for Excellent Equal Opportunity/Work and Family-Life Balance
Companies” (Family-friendly Companies” Category)
A program recognizing companies that promote exemplary
programs with an equal emphasis on work and childcare/nursing
care. (Selected in 2017 / Ministry of Health, Labour and Welfare)

Eruboshi Certification (Stage 2)

This is a system to certify companies with an excellent record ofpromoting the success of women in the workplace (Acquired in 2016 /Ministry of Health, Labour and Welfare)

Platinum Kurumin Authorization

Companies making excellent initiatives to provide employees withsupport at work as well as with childcare receive approval to display
the Platinum Kurumin Authorization mark. (Received in 2016 / Ministryof Health, Labour and Welfare)

Ministerial Award for Women Empowering Companies 2020
The award promotes a work environment where women can
actively participate and is given to companies that have madedistinguished achievements in terms of policy, initiatives andperformance related to the promotion of women to executives andmanagerial positions, and the disclosure of information aboutthem. (Awarded in 2020 / Cabinet Office)FYE 2022 Nadeshiko Brand

The aim is to promote investment in companies and to accelerate
the pace of initiatives by each company. The initiative introduces
listed companies excellent in empowering women as attractive
brands for investors who emphasize improving corporate value
over the mid-to-long term to achieve that aim. (Selected in 2022 /Ministry of Economy, Trade and Industry and Tokyo Stock
Exchange)

Top Commitment

Sustainability at the ITOCHU Group

Environment

SocietyGovernanceSDGs Bond (Sustainability Bond)

Evaluation by Society

Independent Assurance Report

206

Evaluation by Society
Health and Productivity Stock 2016-2017
Health & Productivity Management Outstanding Organization (White 500)
Selects companies engaged in strategically carrying out initiatives with regard to employee health from amanagement perspective (Ministry of Economy, Trade and Industry (METI) and the Tokyo Stock Exchange(TSE))* First general trading company to be selected as a Health and Productivity Stock two years in a row* Selected as a White 500 company seven years in a row from FYE 2017

The Best Practice Enterprise

These awards are held once a year to select just one company in each prefecture as The Best PracticeEnterprise that is working proactively to reduce long working hours as a part of the overwork elimination
campaign. (November 2017 / Tokyo Labor Bureau)

Nihon no Jinjibu HR Awards 2018
Award of Excellence in the Corporate Human Resources Category
This is an award system that honors innovators in fields such as human resources,
personnel development and labor management. (November 2018)

Award for Companies Promoting Cancer Control in the Action Plan for
Promotion of Cancer Control, sponsored by the Ministry of Health,Labour and Welfare (Selected in February 2018)
Company with Outstanding Cancer Control Promotion (Selected inMarch 2021)

This program recognizes companies that are proactive in taking
cancer control measures and which are engaged incomprehensive, advanced cancer control measures. (Ministry ofHealth, Labour and Welfare)Tokyo Metropolitan Government award commending companies which
implement superior initiatives to help cancer patients balance cancer
treatment and work

This program recognizes companies that implement superior
initiative to help employees with cancer balance treatment withwork. (Selected in February 2018 / Tokyo MetropolitanGovernment)

1st gan-ally-bu Awards

These awards were established to realize workplaces and a society where it ispossible for cancer patients to work actively while receiving care. They wereestablished by the gan-ally-bu private sector project working on the problem ofcancer and employment in which employees work while receiving cancer care.
(October 2018)