Monstar Lab, Inc. announced that its Board of Directors resolved that Yoshihara Nakahara, Executive Vice President and CFO of the Company, will retire as CFO effective June 23, 2024, and that Sumito Suzuki, General Manager of Finance Office GRC Group and General Manager of Internal Audit Office of the Company, will succeed him as CFO of the Company effective June 24, 2024. Sumito Suzuki is not scheduled to be appointed as a director. Reason for Retirement: Since joining the Company in 2020 as Global CFO, Mr. Nakahara has been promoting the reinforcement of cooperation in the area of finance and the development of an operational structure as the Company s group has been expanding its digital consulting business on a global scale.

However, the situation of the Group has changed from the time when he was expected to contribute as global CFO, as the Group now has a clear plan for further organizational and structural reforms in order to build a foundation for future growth, and it will be moving forward to reorganize unprofitable overseas subsidiaries in the future. Given these developments, Mr. Nakahara has made the decision to step down from the position now that he has achieved a certain level of the expected contribution.