Financial Results for the Fiscal Year Ending March 2023 & Mid-term Business Plan Partial Revision CHANGE Holdings, Inc. Security Code: 3962 CHANGE HOLDINGS Copyright CHANGE Holdings, Inc. All Rights Reserved.

Transitioned to a holding company structure from April 1. NEW-IT Transformation Publitech Private‑sector DX Human resources Regional creation Public‑sector DX available at the time of preparing these materials, and may DFA Robotics CHANGE Digital Trust Bank Governance Growth Technologies III Academia People×Technology Hometown Energy Publitech Public‑ Human tax Travel Zip sector resource develop Orb beacapp DX ment Logosware Govmates

We will continue to pursue our group mission after the shift to a holding structure. IIl All future forecasts, estimates, etc. appearing in this document were determined by us based on information contain a degree of uncertainty.Change People, Change Business, III Actual future performance depends on various factors, herein. Change Japan.

> **[Chart page]** This page contains visual data — view in PDF for the best experience. Japan’s working-age population will roughly halve in the next 50 years and fall to less than half of the total population. Unit: thousand people Now here 140,000 123,611 126,926 128,057 126,146 120,000 117,060 119,180 103,720 8,865 10,647 12,468 14,895 18,261 22,005 25,672 29,246 33,465 35,336 36,529 110,678 101,207 100,000 93,419 6,181 7,331 36,962 37,732 91,118 83,200 4,747 5,350 contain a degree of uncertainty. 39,285 39,451 38,878 80,237 80,000 4,109 37,779 60,000 III 66,928 71,566 75,807 78,835 82,506 85,904 87,165 86,220 84,092 36,437 35,134 33,671 49,658 54,729 60,002 herein. 81,032 76,289 72,923 73,101 70,757 40,000 Share of 67,216 61,719 vs. 2020 population 57,363 53,787 56.05% 57.81% 50,757 47,767 44,370 40,872 20,000 Share of 29,428 29,798 28,067 25,166 24,823 27,221 27,507 26,033 population 22,486 20,014 18,472 17,521 16,803 15,887 14,956 13,218 11,461 10,155 9,674 9,185 8,541 7,752 6,914 6,195 50.94% 5,694 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020 2025 2030 2035 2040 2045 2050 2055 2060 2065 2070 ■Ages 0~14 ■Ages 15~64 ■Ages 65+

7 26,033 population 22,486 20,014 18,472 17,521 16,803 15,887 14,956 13,218 11,461 10,155 9,674 9,185 8,541 7,752 6,914 6,195 50.94% 5,694 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020 2025 2030 2035 2040 2045 2050 2055 2060 2065 2070 ■Ages 0~14 ■Ages 15~64 ■Ages 65+ Source: National Institute of Population and Social Security Research “Population Projections for Japan (2023)”_{(https://www.ipss.go.jp/pp‑zenkoku/j/zenkoku2023/pp2023_gaiyou.pdf)} 【From 2025】 Figure 1‑3: “Total population by age group (0‑14, 15‑64, 65+) and age structure coefficient: low fertility (medium mortality) projection” 【To 2020】 Compiled by CHANGE based on Table 1 “Total population by age group (0‑14, 15‑64, 65+) and age structure coefficient: 1950‑2020”

Currently in Chapter 2 of establishing a digital era in Japan. Now here Phase1 Phase2 Phase3 Phase4 Phase5 【DJ1】 【DJ2】 【DJ3】 【DJ4】 【DJ5】 FY 19.9 FY 22.3 Digitize ~ 21.9 ~25.3 Revised version III & released Digitalize Japan We will improve Japan’s productivity through the digitalization/digitization of business models and business herein. processes and the development of digital human resources. For achieving “Digitize & Digitalize Japan”, we will continue to work until Phase 5, confront the social challenge of declining population, and will be a leader in overcoming the present national difficulty in spite. Due to the change in fiscal year end, we have released a revised version of the Mid‑term Business Plan’s current Phase 2, DJ2. ※The revised Mid‑term Business Plan [DJ2] can be found here https://ssl4.eir‑parts.net/doc/3962/tdnet/2123311/00.pdf