NAGOYA ELECTRIC WORKS CO., LTD.

Remuneration for directors and corporate auditors of Nagoya Electric Works Co. Ltd. is determined by the Board of Directors or through discussions among the corporate auditors within the limit of the total amount of remuneration determined by the General Meeting of Shareholders, taking into consideration the balance between business conditions, employee salaries, and other relevant factors, as well as the prevailing standards.

The total amount of remuneration for directors (excluding outside directors) for the fiscal year ended March 31, 2021 is 173,107 thousand yen.
The total amount of remuneration for corporate auditors (excluding outside corporate auditors) is 12,000 thousand yen, and the total amount of remuneration for outside officers is 12,420 thousand yen. In addition, Nagoya Electric Works Co., Ltd. implements medium- to long-term incentive stock remuneration, and the number of shares to be issued is determined in accordance with the director's position after discussion at the Board of Directors meeting.