Freee K K : Announcement regarding Transition to a Company with an Audit & Supervisory Committee

Note: This document is an English translation of the original Japanese language document and has been prepared solely for reference purposes. No warranties or assurances are given regarding the accuracy or completeness of this English translation. In the event of any discrepancy between this English translation and the original Japanese language document, the original Japanese language document shall prevail in all respects.

	August 13, 2021
Company Name	freee K.K.
Representative	Daisuke Sasaki,
	CEO and Representative Director
Code No.	4478, Tokyo Stock Exchange
	Mothers
Contact	Sumito Togo, CFO and Director
	(TEL. [phone])

Announcement regarding Transition to a Company with an Audit & Supervisory Committee

freee K.K. (the "Company") announces that a resolution was made at a meeting of the Board of Directors held today to transition from a company with an Audit & Supervisory Board to a company with an Audit & Supervisory Committee, as stated below.

The transition is subject to approval at the Company's 9th Term Annual Meeting of Shareholders to be held in September, 2021.

1. Purpose of Transition

The Company recognizes that the enhancement and strengthening of the corporate governance system is a material management issue, and initiatives have been continuously promoted until now. While the business environment is becoming increasingly complex, the Company is working to achieve the sustainable improvement of enterprise value. To realize this, the Company has decided to transition to a company with an Audit & Supervisory Committee, which will enable the delegation of a substantial part of the Board of Directors' decision-making authority over the execution of business to Executive Directors. In this way, the Company will further enhance deliberations by the Board of Directors on matters such as business strategy, and will further strengthen the supervisory functions of the Board of Directors.

2. Schedule of Transition

At the 9th Term Annual Meeting of Shareholders to be held in September 2021, the Company intends to transition to a company with an Audit & Supervisory Committee upon obtaining approval for the changes made to the Articles of Incorporation that are required in order to proceed with the transition.

3. Others

The details of the changes to the Articles of Incorporation and the appointment of Directors, etc.

are to be announced separately by the Company.