"On May 10, 2024, Toyota Industries Corporation, announced in its press release that it had received a shareholder proposal from Longchamp SICAV for its 146th Ordinary General Meeting of Shareholders scheduled to be held on June 11, 2024. The proposals are as follows, 1. Amendments to the Articles of Incorporation regarding disclosure and measures to realize management that is conscious of capital costs and stock prices, company's Board of Directors opposes this shareholder proposal, 2. Acquisition of own shares, company's Board of Directors opposes this shareholder proposal, this shareholder proposal requests that the company purchase treasury stock for a total of 30 million shares and a total acquisition price of 500 billion yen within one year from the conclusion of this general meeting of shareholders. The Company does not deny returns to shareholders through the acquisition of treasury stock as Company intends to acquire a total of 10 million shares within one year from that date.

The company will proceed with the acquisition of treasury stock up to a maximum of 180 billion yen and will continue to balance basic investments for sustainable growth and growth investments to accelerate next-generation growth, while taking stock price trends and capital structure into account, moreover, returning profits to shareholders, including through share buybacks, 3. Approval of compensation amount regarding restricted stock compensation plan, company's board of directors opposes this shareholder proposal and the reason for opposition this shareholder proposal includes compensation linked to performance, including ROE and TSR (total shareholder return). The Company?s board of directors opposes these shareholder proposal.