Rinnai Corporation will be implementing the personnel and organizational changes. Organizational Changes (effective April 1): In the Marketing & Sales Headquarters, the company will reorganize the existing Sales Division and Sales Management Division into a new Sales Division along with a Sales Planning Division, Sales Management Division, Management Promotion Division and Customer Service Supervisory Division. In the Research & Development Headquarters, the company will reorganize the Product Development Division and the Engineering Development Division and create Product Development Division I to handle water heaters and home heaters and Product Development Division II to handle kitchen appliances. In the Quality Assurance Headquarters, the company will integrate the Accident Information Control Office into the Quality Assurance Division. The company will newly establish the Corporate Planning Headquarters and transfer the Corporate Planning Division and Information System Division to the new headquarters from the Administration Headquarters. In the Administration Headquarters, the company will change the name of the Corporate Communication Office to the Corporate Communication Division. The company will transfer the e-Business Promotion Office from the Administration Headquarters to the Sales Division of the Marketing & Sales Headquarters.

Executive Officer Changes: Effective April 1, 2016 Masao Kosugi will be promoted to Director and Senior Managing Executive Officer from Director and Managing Executive Officer. Yuji Kondo will be promoted to Director and Senior Managing Executive Officer from Director and Managing Executive Officer. Kinji Mori will be promoted to Managing Executive Officer from Executive Officer. Yasuo Koketsu will be promoted to Managing Executive Officer from Executive Officer. Masanori Shimizu and Kazuto Inoue will be assigned the new role of Executive Officer. Effective March 31, 2015 Kazuhiko Yamada will resign as Executive Officer, General Manager of Sales Management Division, Marketing & Sales Headquarter, and Team Manager of work restructuring project. Effective April 1, 2016, designation of Masanobu Inomata will be changed to General Manager of Product Development Division II, Research & Development Headquarters from General Manager of Kitchen Appliance Development Office, Product Development Division, Research & Development Headquarters. Designation of Shozo Hotta will be changed to General Manager, Production Engineering Division, Production Headquarters from Deputy General Manager, Production Engineering Division, Production Headquarters. Designation of Keishi Moribe will be changed to General Manager, Purchacing Division, Production Headquarters from President of Yanagisawa Manufacturing Co. Ltd. Designation of Hideyuki Shiraki will be changed to General Manager of Sales Division, Marketing & Sales Headquarters from General Manager of Sales Division, and Business Development Office, Marketing & Sales Headquarters. Designation of Kimiatsu Nakao will be changed to General Manager, Sales Planning Division, Marketing & Sales Headquarters from General Manager, Sales Planning Office, Sales Division, Marketing & Sales Headquarters. Designation of Kazuya Togami will be changed to General Manager of Sales Administration Division, Marketing & Sales Headquarters from General Manager of Sales Promotion Office, Sales Division, Marketing & Sales Headquarters. Designation of Akihiko Miyamoto will be changed to General Manager, Management Promotion Division, Marketing & Sales Headquarters from Deputy General Manager, Management Promotion Office, Sales Management Division, Marketing & Sales Headquarters. Designation of Izuka Suzuki will be changed to General Manager of Customer Service Supervisory Division, Marketing & Sales Headquarters from General Manager of Customer Service Supervisory Office, Sales Management Division, Marketing & Sales Headquarters. Designation of Koji Fujioka will be changed to General Manager, Chubu Branch, Marketing & Sales Headquarters from Manager, Chubu Branch, Marketing & Sales Headquarters. Designation of Nobuaki Koga will be changed to General Manager, Kyushu Branch, Marketing & Sales Headquarters from General Manager, Chubu Branch, Marketing & Sales Headquarters. Designation of Hirofumi Fujiwara will be changed to General Manager, Niigata Branch, Marketing & Sales Headquarters from General Manager, Fukuoka Sales Office, Kyushu Branch, Marketing & Sales Headquarters. Designation of Seiji Banno will be changed to Loaned executive to GASTAR Co. Ltd. from General Manager of Purchacing Division, Production Headquarters.