Sanix Incorporated : Notice of the 45th Annual General Meeting of Shareholders

Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. The Company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation.

(Securities code: 4651) June 7, 2023 (Date of commencing measures for electronic provision: June 6, 2023)

To Shareholders with Voting Rights:

Hiroshi Munemasa

President and CEO

SANIX INCORPORATED

2-1-23, Hakataeki Higashi,

Hakata-ku, Fukuoka, Japan

Notice of the 45th Annual General Meeting of Shareholders

You are cordially notified of the 45th Annual General Meeting of Shareholders (the "Meeting") of SANIX INCORPORATED (the "Company"), which will be held for the purposes described below.

In convening this Meeting, the Company has taken measures for electronic provision. Matters for which measures for electronic provision have been taken are posted on the following website.

The Company's website: https://sanix.jp/ir/sokai.php

In addition to the website above, the matters are also posted on the following websites.

Tokyo Stock Exchange website (TSE Listed Company Search): https://www2.jpx.co.jp/tseHpFront/JJK020030Action.do

Please access the website above, enter "SANIX" into the Issue name or "4651" into the Code, and click the Search button to search for the Company. Then, please select "Basic information," "Documents for public inspection/PR information" and "Notice of General Shareholders Meeting/Informational Materials for a General Shareholders Meeting."

Other posted website Net de Shoshu: https://s.srdb.jp/4651/

If you are not attending the Meeting, you may exercise your voting rights in advance via the Internet or in writing. Please review the Reference Documents for the General Meeting of Shareholders and exercise your voting rights by 5:30 p.m., Wednesday, June 28, 2023 (JST).

1. Date and time:Thursday, June 29, 2023 at 10:00 a.m. (JST) (Doors will open at 9:00 a.m.)

2. Venue:	Banquet hall "Tsukushi," Main Building 3F, Hotel Nikko
	Fukuoka, located at 2-18-25, Hakata Eki-mae,Hakata-ku,
	Fukuoka, Japan

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3. Meeting Agenda:
Matters to be reported:	1. Business Report and Consolidated Financial Statements
	for the 45th Fiscal Year (April 1, 2022 to March 31,
	2023), and results of audits of Consolidated Financial
	Statements by the Accounting Auditor and the Audit
	and Supervisory Committee
	2. Non-consolidated Financial Statements for the 45th
	Fiscal Year (April 1, 2022 to March 31, 2023)
Matters to be resolved:
Proposal 1:	Election of 8 Directors (Excluding Directors Who Are Audit
Proposal 2:	and Supervisory Committee Members)
Election of 6 Directors Who Are Audit and Supervisory
	Committee Members

4. Matters resolved in convening the Meeting:

• 1. If a shareholder exercises the voting rights both in writing (by postal mail) and via the Internet, the vote via the Internet shall be deemed valid, regardless of their arrival date and time.
     If a shareholder exercises the voting rights more than once via the Internet, the vote exercised last shall be deemed valid.
  2. If a shareholder exercises the voting rights in writing (by postal mail) and neither approval nor disapproval of each proposal is indicated in the Voting Rights Exercise Form, it shall be deemed a vote of approval.
  3. If attending the Meeting by proxy, please designate as a proxy another shareholder of the Company who may exercise the voting rights, and have the proxy submit a written proof of his/her right of proxy at the reception on the day of the Meeting.
• If you attend the Meeting, please submit the enclosed Voting Rights Exercise Form at the reception.
• Any revisions to the matters for which measures for electronic provision have been taken will be posted on each website where those matters are posted.
• Of the matters for which measures for electronic provision have been taken, the following matters are not included in the paper copy to be sent to shareholders who have requested it, pursuant to laws and regulations as well as the provisions of Article 14 of the Company's Articles of Incorporation. Accordingly, the paper copy to be sent to shareholders who have requested it is a part of the documents audited by the Audit and

Supervisory Committee and the Accounting Auditor in preparing their audit reports.

1. "Systems to Ensure the Appropriateness of Operations and the Operational Status of Such Systems" of the Business Report
2. "Consolidated Statements of Changes in Net Assets" and "Notes to the Consolidated Financial Statements" of the Consolidated Financial Statements
3. "Non-consolidatedStatements of Changes in Net Assets" and "Notes to the Non- consolidated Financial Statements" of the Non-consolidated Financial Statements

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Reference Documents for the General Meeting of Shareholders

Proposals and References

Proposal 1: Election of 8 Directors (Excluding Directors Who Are Audit and Supervisory Committee Members)

The terms of office of all Directors (excluding Directors who are Audit and Supervisory Committee Members; hereinafter the same shall apply in this proposal) will expire at the close of this Meeting. Accordingly, the Company proposes the election of 8 Directors.

The Audit and Supervisory Committee has determined that each candidate in this proposal is appropriate to be a Director of the Company.

The candidates for Directors are as follows:

				Current positions and responsibilities at the	Attendance at
No.	Name			Board of Directors
				Company	meetings
1	Hiroshi Munemasa			President and CEO	16/16 times
Reappointed
	(100%)
2	Takeshi Inada			Director, Management Corporate Officer,	16/16 times
Reappointed		General Manager of SE/HS/ES Business
	(100%)
				Control Division
				Director, Management Corporate Officer,	16/16 times
3	Michimasa Masuda			General Manager of Corporate Division
Reappointed		and General Manager of Administration	(100%)
				Division
				Director, Management Corporate Officer,	15/16 times
4	Kenji Kaneko			Deputy General Manager of SE/HS/ES
Reappointed		Business Control Division and General	(93.8%)
				Manager of Corporate Sales Department
				Director, Management Corporate Officer,
				Deputy General Manager of SE/HS/ES	16/16 times
5	Kazuyuki Tabata	Reappointed		Business Control Division and General
	(100%)
				Manager of SE Business Division and HS
				Business Division
				Director, Management Corporate Officer,	16/16 times
6	Hideki Takei			General Manager of Environmental
Reappointed		Resources Development Division and	(100%)
				Resource Recycling Business Department
				Director, Corporate Officer, General	12/13 times
7	Motoi Inoue			Manager of Sales Promotion Department,
Reappointed		Corporate Sales Department, SE/HS/ES	(92.3%)
				Business Control Division
8	Tetsuo Takaki			Director, in charge of construction work	16/16 times
Reappointed
	(100%)

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• Summary of opinions of the Audit and Supervisory Committee

The Audit and Supervisory Committee took into consideration the Company's specific management strategies, surrounding environment, and other factors, and carefully examined whether each candidate for Director has the necessary knowledge, experience, and ability to fulfill his roles and responsibilities, whether each candidate conforms to the nomination policy for candidates for Director, and whether the Board of Directors will function adequately. Moreover, the Committee discussed the work experience of each candidate for Director, and persons who are able to fulfill the roles expected of the Board of Directors, such as striving to enhance corporate value through making decisions on medium- to long-term management policy and supervising overall management, have been selected. The Committee has therefore determined that the candidates for Directors proposed in this proposal are appropriate.

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No.	Name		Career summary, positions, responsibilities and significant	Number of
	shares of the
(Date of birth)			concurrent positions
			Company held
		January 2003	Joined the Company
		June 2007	Director, assigned to the Executive Office, in
				charge of special assignments
		June 2013	Director, Executive Vice President and
				Corporate Officer
		January 2017 President and CEO (to the present)
		[Significant concurrent positions]	6,523,637
		 President and Representative Director, BUYON INC.
		shares
		 Chairman and Representative Director, Munemasa Syuzo
	Hiroshi Munemasa		Co., Ltd.
		Representative Director, SANIX SPORTS
1	(July 17, 1975)		FOUNDATION
		Chairman and Representative Director, SANIX ENERGY
	[Reappointed]
		INCORPORATED
		 Chairman and Representative Director, SE WINGS
			CORPORATED

[Reasons for nomination as a candidate for Director]

Since assuming office as President and CEO in 2017, to meet the trust of our shareholders, Mr. Hiroshi Munemasa has taken on steering the management of the Company with strong leadership, putting in the foreground the Group's corporate philosophy of "A comfortable environment for the next generation" and corporate vision of "Become the top company in the environment and energy field" and contributed to sustainable growth of the Group. The Company believes that he is a person that is able to continue to work on strengthening the governance systems by utilizing his wealth of experience and achievements, make appropriate decisions on the management of the entire Group and lead further growth of the Group, and thus nominated him again as a candidate for Director.

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