[Stella Chemifa] Proposal for Amendments to Articles of Incorporation | May 15, 2026

Overview of Capital Policy

Stella Chemifa is proposing an amendment to change the record date for the statutory general shareholders meeting specified in Article 12 of its articles of incorporation from March 31 to May 15, 2026. The purpose of this change is to create an environment where investors can thoroughly analyze information necessary for exercising voting rights before the general meeting, thereby improving the quality of information and dialogue with the market. The reason for the proposal cites issues with delayed information disclosure and insufficient review period under the current record date. By changing the record date, the company aims to support shareholder decision-making and promote shareholder democracy.

Future Outlook and Impact

This proposal is expected to enhance information provision to shareholders and promote the diversification of the date of the general meeting, thereby contributing to increased shareholder participation opportunities. Specifically, providing ample information before the meeting will improve the quality of judgment by investors and voting advisory firms, leading to strengthened corporate governance. However, the change to the record date may also entail operational challenges and increased costs, and the company is carefully considering these aspects.