Hakuhodo DY Holdings Inc. today established the following Special Review Committee.

1. Purpose

Hakuhodo DY Holdings domestic subsidiary Hakuhodo Inc. and an employee of Hakuhodo DY Media Partners were accused by the Fair Trade Commission and indicted by the Tokyo District Public Prosecutors Office on charges of a violation of Japan's Antimonopoly Act on February 28, 2023 in connection with a business consignment contract, etc., for planning and other work to do with various test events for the Tokyo 2020 Olympic and Paralympic Games.

The Hakuhodo DY Holdings Group takes this situation very seriously. To prevent a recurrence and to ensure compliance, it has established a Special Investigation Committee to be headed by an Outside Director, and will accept the findings of the Committee.

2. Committee Composition

Chairperson: Mr. Noboru Matsuda (Outside Director; former Director-General, Criminal Affairs Department, Supreme Public Prosecutors Office)

Member: Mr. Koichi Ueda (Outside Auditor*; former Superintending Prosecutor, Tokyo High Public Prosecutors Office)

Member: Mr. Shin Kikuchi (Outside Auditor; Attorney and Partner, Gaien Partners)

• Mr. Ueda is Outside Auditor at Hakuhodo Inc.

3. Date of Establishment

March 7, 2023