Notification on Management Team Changes

<p>Sugi Holdings Co., Ltd. (“the Company”) is pleased to announce that it has selected candidates for director positions as below at a meeting of the Board of Directors held today.<br />After each candidate will be elected as a director at the Company’s 38th Ordinary General Meeting of Shareholders to be held in mid May 2020, the appointment of each director will officially be determined at a meeting of the Board of Directors to be held on the same date.</p>