[Air Water] Strengthening Corporate Governance System and Establishing an Audit & Supervisory Committee | September 2026

Purpose and Background of the Transition

In response to past inappropriate accounting issues, Air Water is reconstructing its corporate governance framework. By strengthening the supervisory functions of the Board of Directors and transitioning to a company with an Audit & Supervisory Committee, the company aims to improve director oversight, restore trust, and achieve sustained corporate value enhancement.

Schedule and Future Outlook

The plan is to obtain approval for amendments to the Articles of Incorporation at the extraordinary general meeting scheduled for September 22, 2026, to transition to a company with an Audit & Supervisory Committee. Details regarding executive appointments and amendments will be announced subsequently. This move seeks to balance management agility with enhanced supervisory functions.