External Evaluations and Index Inclusion

FTSE4Good Index Series

We have been selected as a constituent stock of the FTSE4Good Index Series, provided by the global index provider FTSE Russell. This global Environmental, Social, and Governance (ESG) index is composed of companies that excel in ESG initiatives.

FTSE Blossom Japan Index

We have been selected as a constituent stock of the FTSE Blossom Japan Index, created by the global index provider FTSE Russell. This index was designed to reflect the performance of Japanese companies that demonstrate strong ESG practices.
Japan's Government Pension Investment Fund (GPIF) uses this index as a benchmark for passive ESG investment management.

FTSE Blossom Japan Sector Relative Index

We have been selected as a constituent stock of the FTSE Blossom Japan Sector Relative Index, developed by Global Index Provider FTSE Russel. This index is designed to measure the performance of Japanese companies that have relatively strong ESG practices in individual industries or sectors.
Japan’s GPIF uses this index as a benchmark for passive ESG investment management.

FTSE Russell confirms that Nippon Paint Holdings has been independently assessed according to the index criteria, and has satisfied the requirements to become a constituent of the FTSE 4Good Index, the FTSE Blossom Japan Index, and the FTSE Blossom Japan Sector Relative Index. Created by the global index and data provider FTSE Russell, the FTSE Blossom Japan Index is designed to measure the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices. The FTSE 4Good Index, the FTSE Blossom Japan Index, and the FTSE Blossom Japan Sector Relative Index are used by a wide variety of market participants to create and assess responsible investment funds and other products.

MSCI Japan ESG Select Leaders Index

We have been selected as a constituent stock of the MSCI Japan ESG Select Leaders Index, an index of publicly traded Japanese companies selected by a leading U.S. financial services company MSCI. Constituents of the index are companies that demonstrate relatively good ESG performance in their respective industries based on MSCI's own rating and scoring system.
Japan's GPIF uses this index as a benchmark for investment management.

MSCI Japan Empowering Women Index (WIN)

We have been selected as a constituent of the MSCI Japan Empowering Women Index (WIN), which selects Japanese companies excelling in gender diversity. The index has been used by the GPIF as a benchmark for passive ESG investment management.
Japan's GPIF uses this index as a benchmark for investment management.

THE INCLUSION OF Nippon Paint Holdings IN ANY MSCI INDEX, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP, ENDORSEMENT OR PROMOTION OF Nippon Paint Holdings BY MSCI OR ANY OF ITS AFFILIATES.
THE MSCI INDEXES ARE THE EXCLUSIVE PROPERTY OF MSCI. MSCI AND THE MSCI INDEX NAMES AND LOGOS ARE TRADEMARKS OR SERVICE MARKS OF MSCI OR ITS AFFILIATES.

Morningstar Japan ex-REIT Gender Diversity Tilt Index

We have been selected as a constituent stock of the Morningstar Japan ex-REIT Gender Diversity Tilt Index (GenDi J), an ESG index newly adopted by Japan’s Government Pension Investment Fund (GPIF). GenDi J is an index designed to emphasize the stocks of companies that have strong gender diversity policies embedded in their corporate culture and that ensure equal opportunities to employees, irrespective of their gender.

S&P/JPX
Carbon Efficient Index

We have been selected for the S&P/JPX Carbon Efficient Index, which is designed to measure the performance of companies in the TOPIX (published by TSE), while deciding the weight based on the level of carbon emissions per unit of revenue and the environment related disclosure.
The index has been used by the GPIF as a benchmark for passive ESG investment management.

SOMPO
Sustainability Index

We have been selected as a member of the SOMPO Sustainability Index, an index for ESG investment established by SOMPO Asset Management Co., Ltd.

Morningstar, Inc., and/or one of its affiliated companies (individually and collectively, “Morningstar”) has authorized NIppon Paint Holdings to use of the Morningstar® Japan ex-REIT Gender Diversity Tilt Index Logo (“Logo”) to reflect the fact that, for the designated ranking period, NIppon Paint Holdings ranks within the top group of companies comprising the Morningstar® Japan ex-REIT Gender Diversity Tilt Index (“Index”) on the issue of gender diversity in the workplace. Morningstar is making the Logo available for use by NIppon Paint Holdings solely for informational purposes. NIppon Paint Holdings’s use of the Logo should not be construed as an endorsement by Morningstar of NIppon Paint Holdings or as a recommendation, offer or solicitation to purchase, sell or underwrite any security associated with NIppon Paint Holdings. The Index is designed to reflect gender diversity in the workplace in Japan, but Morningstar does not guarantee the accuracy, completeness or timeliness of the Index or any data included in it. Morningstar makes no express or implied warranties regarding the Index or the Logo, and expressly disclaims all warranties of merchantability or fitness for a particular purpose or use with respect to the Index, any data included in it or the Logo. Without limiting any of the foregoing, in no event shall Morningstar or any of its third-party content providers have any liability for any damages (whether direct or indirect), arising from any party’s use or reliance on the Index or the Logo, even if Morningstar is notified of the possibility of such damages. The Morningstar name, Index name and the Logo are the trademarks or services marks of Morningstar, Inc. Past performance is no guarantee of future results.

External Evaluation Score

	2020	2021	2022	2023	2024	2025
MSCI ESG Rating / Industry-Adjusted Score	A/6.4	A/6.1	A/6.9	A/7.1	A/6.9	A/6.5
FTSE ESG Score	2.3	2.5	3.5	3.6	3.5	3.5
CDP Climate Change	C	B	B	B	B	B
CDP Water Security	B-	A-	A-	A-	A-	A-