And ST HD : Notice Concerning Change in Representative Director (President)

January 21, 2026

(Translation)

To Whom It May Concern,

Notice Concerning Change in Representative Director (President)

At a meeting held today, the and ST HD Co., Ltd. ("Company") Board of Directors approved a resolution to make the following change in representative director (president).

1. Reasons for Change

   On April 4, 2025, the Company announced Medium-Term Management Plan 2030. Further, the Company completed the transition to a holding company structure in September 2025 toward

   becoming a Play fashion! platformer amid an ever-changing business environment. With the foundation for self-directed growth in place at each operating company, the Company have

   decided to transition our management structure to the next generation of leadership, looking ahead to the future.

   The Company will accelerate transformation under this new management structure, aiming for the further development of the and ST HD Group and enhancement of corporate value.

2. Representative Directors Affected by the Change

   Name	New Title	Former Title
   Taiki Fukuda	Representative Director and President	Senior Managing Director
   Osamu Kimura	Directors	Representative Director and President

3. Career Highlights

   Name	Taiki Fukuda
   Date of Birth	April 11, 1978
   Career Highlights	March 2004	Joined IMS Co., Ltd.
   	April 2005	Joined POINT INC. (currently and ST HD Co., Ltd.)
   	March 2014	General Manager, Overseas Division, Adastria Holdings, Co., Ltd. (currently and ST HD Co., Ltd.)
   	May 2014	Representative Director and President, Adastria Asia Co., Ltd.
   	March 2016	General Manager, Communication Design Division, Adastria Co., Ltd. (currently and ST HD Co., Ltd.)
   	March 2017	General Manager, Corporate Planning Division, Adastria Co., Ltd. (currently and ST HD Co., Ltd.)
   	May 2017	Director and General Manager, Corporate Planning Division, Adastria Co., Ltd. (currently and ST HD Co., Ltd.)
   	March 2018	Director, Adastria Co., Ltd. (currently and ST HD Co., Ltd.) Chairman, Management Board, Velvet, LLC
   	May 2018	Director, Adastria General Support Co., Ltd. (currently WeOur Co., Ltd.)
   	May 2019	Director, Adastria Logistics Co., Ltd. (currently and ST Logistics Co., Ltd.)
   	November 2021	Representative Director, ADOORLINK Co., Ltd.
   	February 2022	Management Board Member, Velvet, LLC
   	May 2024	Senior Managing Director, Adastria Co., Ltd. (currently and ST HD Co., Ltd.; present position)
   	September 2025	Director, and ST Co., Ltd. (present position)
   		Director, Adastria Co., Ltd. (present position)
   		Director, ELEMENT RULE Co., Ltd. (present position)

   No. of Company Shares Held 237,365 shares

   (includes 21,441 shares to be delivered under a stock compensation plan)

4. Transition Date (Tentative)

   March 1, 2026

   The Company intends to announce the structure of the Board of Directors subsequent to March 1, 2026 as soon as such is determined.

5. Comments From Board Members

Comments From Osamu Kimura, Representative Director and President

I have served as president for roughly five years since my appointment amid the COVID-19

pandemic in 2021. I have truly appreciated your strong support during my tenure. Currently, the and ST HD Group is in the process of transforming into a platformer beyond the framework of apparel. To move forward under Medium-Term Management Plan 2030 and achieve sustainable growth in the era beyond, the Company has decided to entrust the future management of our

organization to Mr. Taiki Fukuda. I am confident that under the leadership of Mr. Fukuda, who is familiar with both the front lines of our business and corporate management, the Group will work in unison to accelerate our development under 5th CHANGE. I look forward to your continued support of the newly reorganized and ST HD Group.

Comments From Taiki Fukuda, Newly Appointed Representative Director and President

I am excited to take on the role of representative director and president beginning with the next fiscal year. In the 20 years since joining the company in 2005, I have gained a wide range of experience. My roles have spanned responsibilities from in-store sales to overseas operations, as well as the fundamentals of management in finance and governance. My mission will be to take the reins of the holding company and accelerate growth through the three pillars we discuss in Medium-Term Management Plan 2030. I will endeavor to embody our founding spirit, Be a person needed, Be a company needed, striving to enhance group cohesiveness and become a

company that is trusted by all stakeholders.

End