On February 27, 2023, TriIs Incorporated stated in its press release that it had decided to oppose the shareholder proposals submitted by UGS Asset Management Co., Ltd. The proposals submitted were as follows, (1) Reduction of remuneration for directors (excluding directors who are Audit and Supervisory Committee members): the amount of remuneration for the Company's directors is high in comparison to the Company's business performance in order to reduce the amount of remuneration, Activist is requesting that the maximum amount of remuneration be set at 50 million yen or less per year. The Company will be disapproving the proposal because setting the maximum amount to within 50 million yen would result in a loss of flexibility in determining the amount of remuneration. In addition to losing the incentive system, it also eliminates the function of the reward system as an incentive.

(2) Appointment of 1 Director who is not an Audit and Supervisory Committee Member: Proposing Mr. Takamichi Uezu as a candidate with the aim of normalizing the corporate governance system of the Company. The Company will be disapproving the proposal as proposed candidate does not match the type of human resource that the Company is looking for.