Announcement on resignation of director who is Audit & Supervisory Committee member

Kobe Steel, Ltd. announces today that it has discovered improper claims for reimbursement of travel expenses by a director who serves as an Audit and Supervisory Committee member of the Company and has accepted his resignation as director as of the same date.

• 1.

  Resigning director

  Yasushi Tsushima
  Director, Audit & Supervisory Committee member

• 2.

  Date of resignation

  February 28, 2023

• 3.

  Even after the resignation of the said member, the Company satisfies the required number of directors who are members of the Audit and Supervisory Committee as stipulated by laws and regulations and the Articles of Incorporation. It also complies with the Corporate Governance Code that requires independent outside directors account for at least one-third of all board members.