Dialogue between Shiseido's External
Directors and Investors

from the beginning

Dialogue between Shiseido's External Directors and Investors

Meeting Agenda

1. Speaker Introduction (Yoshihiko Hatanaka, Shiseido External Director / Chair, Board of Directors)

1. Speaker Introduction (Yasuko Gotoh, Shiseido External Director / Chair, Audit Committee)

2. The Evolution of Corporate Governance at Shiseido

3. External Directors’ Perspectives on Shiseido’s Corporate Governance

3. External Directors’ Perspectives on Shiseido’s Corporate Governance

Action Plan 2025-2026

3. External Directors’ Perspectives on Shiseido’s Corporate Governance

KPI Review and Updates on LTI and Remuneration-related Issues

Q&A

4. Q&A (Advance Questions)

Q&A

• Q&A 1

• Q&A 2

• Q&A 3

• Q&A 4

• Q&A 5

• Q&A 6

• Q&A 7

• Q&A 8

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