New Structure of the International Advisory Board (IAB):

Appointment of new members of the seventh session of IAB for Management and the creation of new IAB for High Technology and Innovation

Komatsu Ltd. (President and CEO: Tetsuji Ohashi) (hereinafter "Komatsu") established the IAB back in 1995 for the Board of Directors to incorporate objective advice and suggestions concerning management and operations of Komatsu as a global company from external experts. Komatsu has exchanged opinions and discussed related matters in IAB of the 1st to 6th sessions.

To further expand IAB functions, Komatsu has recently reviewed them, clearly positioned the conventional IAB as IAB for Management and decided to start the 7th session with new members. At the same time, Komatsu has also created an IAB for High Technology & Innovation as an advisory and suggestion body for the executive function of management, and held its first meeting in November this year.

Komatsu will continue to incorporate advice and suggestions from IAB members with expertise in global business and different areas of specialization, further improve management and strengthen its corporate governance in order to enhance its corporate value.

1. Members of the 7th session of IAB for Management
Three new members have been appointed as follows.

Outline of IAB for Management

Objective : To provide objective advice and suggestions concerning Komatsu Group's management and business operations to the Board of Directors.

Composition : There are three members (advisors), and the term of their service is set for three years as a general rule.

Meetings : They meet at Komatsu Group's facilities in Japan or overseas once a year.

2. Creation of new IAB for High Technology & Innovation
To accelerate innovation, Komatsu has created IAB for High Technology & Innovation as part of IAB to offer advice and suggestions from the viewpoints of global business, open innovation, and leading-edge R&D to the executive function of management. Komatsu has welcomed four members aboard, who have founded overseas research organizations and venture capitals with top-notch expertise in leading-edge technologies. In the first meeting held in November this year, Komatsu introduced its approaches to innovation and technology strategy, and received a number of advice and suggestions from board members.

Information in the news releases is current on the date of the announcement and is subject to change without notice.


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