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1 Announcement of Changes in Representative Directors And April 30, 2020 Sony Financial Holdings, Inc. Announcement of Changes in Representative Directors and Executives, and the New Management Team Tokyo, April 30, 2020——At a Board of Directors’ meeting held today, Sony Financial Holdings Inc. (“SFH”) resolved the proposed changes in Representative Directors (change of President) and candidates for election to the position of Directors as stated below. These executive appointments are consistent with further reinforcing the management structure to enhance the sustainable corporate value of the Sony Financial Group. The appointments include new top management familiar with the global financial business and having extensive management experience extending beyond that industry. In addition, SFH’s Board of Directors will continue to include outside directors, members of Sony Corporation’s management team and people from SFH’s management team. In this way, we aim to enhance overall Group governance and further manifest synergies. Following approval at the Ordinary Meeting of Shareholders, the election of the new management team is subject to the approval of the Board of Directors, both to be held on June 23, 2020. 1. Changes in Representative Directors (1) Reason for the change SFH aims to enhance the sustainable corporate value of the Sony Financial Group and overall Group governance. (2) Changes Name Newly Appointed Position Current Position President & CEO, (New) Masashi Oka Director (Outside) Representative Director President, (Resignation) Shigeru Ishii － Representative Director (3) Date of change June 23, 2020 2. Changes in Directors <As of June 23, 2020> (1) New Assignment Name Newly Appointed Position Current Position Hiroyuki Tsubota Director Exective Officer Kaoru Takahashi Director (Outside) － (2)Resignation Name Current Position Yutaka Ito Director 1 Masashi Oka Director (Outside) — Sony Financial Holdings Inc. Name Masashi Oka Date of Birth July 11, 1955 Education 1979 Graduated from The University of Tokyo, Faculty of Law 1986 Earned Master of Laws (L.LM) degree from University of Michigan Law School Professional Career April 1979 Joined The Mitsubishi Bank, Ltd. (currently MUFG Bank, Ltd.) June 2004 General Manager and Global Head, Syndicated Finance Division of The Bank of Tokyo-Mitsubishi, Ltd. (currently MUFG Bank, Ltd.) June 2005 Executive Officer of The Bank of Tokyo-Mitsubishi, Ltd. (Director & Vice Chairman, UnionBanCal Corporation and Union Bank of California, N.A.) April 2008 Executive Officer of The Bank of Tokyo-Mitsubishi UFJ, Ltd. (currently MUFG Bank, Ltd.) General Manager, Corporate & Investment Banking Strategy Division October 2009 Managing Executive Officer of The Bank of Tokyo-Mitsubishi UFJ, Ltd. Group Head, Corporate & Investment Banking Group July 2010 Managing Executive Officer of The Bank of Tokyo-Mitsubishi UFJ, Ltd. (President & CEO, UnionBanCal Corporation and Union Bank, N.A.) May 2012 Managing Executive Officer of The Bank of Tokyo-Mitsubishi UFJ, Ltd. CEO for the Americas (President & CEO, UnionBanCal Corporation and Union Bank, N.A.) May 2013 Senior Managing Executive Officer of The Bank of Tokyo-Mitsubishi UFJ, Ltd. CEO for the Americas (President & CEO, UnionBanCal Corporation and Union Bank, N.A.) July 2014 Special Advisor to the President & CEO of The Bank of Tokyo-Mitsubishi UFJ, Ltd. Director & Executive Chairman, MUFG Americas Holdings Corporation and MUFG Union Bank, N.A. October 2015 Special Advisor to the President & CEO of The Bank of Tokyo-Mitsubishi UFJ, Ltd. May 2016 Counselor of Nikon Corporation June 2016 Representative Director, Senior Executive Vice President & CFO of Nikon Corporation June 2019 Director (Outside) of Sony Financial Holdings Inc. (current position) April 2020 Director of Nikon Corporation (current position) Number of the Company’s shares held nil 2 < Biography of Hiroyuki Tsubota > April 1991 Joined to Sony Corporation October 1994 Manager, Sony Electronics Malaysia Sdn.Bhd. (Malaysia) August 1997 Manager, Sony Corp. of America (US) April 2001 Senior Manager, HR Strategy Sec. Group HR Dept., Sony Corporation July 2004 Director, CEO/President Office, Sony Corporation May 2006 General Manager, HR Dept. Global Sales & Marketing Group, Sony Corporation October 2010 Vice President, Strategy Office, Sony Electronics Inc. (US) May 2012 Senior Vice President, Strategy Office, Sony Electronics Inc. (US) July 2014 Senior General Manager, Corporate Strategy Div., Sony Visual Products Inc. April 2015 （Concurrent）Senior General Manager, Corporate Strategy Div., Sony Video & Sound Products Inc. April 2018 （Concurrent）Corporate Executive, HR & GA, Sony Global Manufacturing & Operations Inc. April 2019 Senior General Manager, HR and GA Div., Sony Home Entertainment & Sound Products Inc. April 2019 （Concurrent）Board of Director, HR & GA, Sony Marketing Inc. January 2020 Executive Officer, HR and GA, Sony Financial Holdings Inc. (current position) < Biography of Kaoru Takahashi > April 1979 Joined The Yasuda Fire and Marine Insurance Co., Ltd. April 2008 Executive Officer, General Manager, Human Resources of Sompo Japan April 2010 Managing Executive Officer of Sompo Japan June 2010 Director, Managing Executive Officer of Sompo Japan Director, Sompo Japan Himawari Life Insurance Inc. April 2012 Representative Director, Deputy President and Senior Managing Executive Officer of Sompo Japan April 2013 Deputy President and Senior Managing Executive Officer, Nipponkoa Insurance Co., Ltd. September 2014 Representative Director, Deputy President and Senior Managing Executive Officer, Sompo Japan Nipponkoa Insurance Inc. April 2015 Representative Director, President and Chief Executive Officer, Sompo Japan Nipponkoa Himawari Life Insurance Inc. June 2015 Director, Sompo Japan Nipponkoa Holdings Inc. March 2016 External Director, Hulic Co., Ltd. (current position) April 2018 Director, Chairman, Sompo Japan Nipponkoa Himawari Life Insurance, Inc. 3 3. New Management Team (As of June 23, 2020) Important Concurrent Positions at the Sony Group Title Name and the Sony Financial Group*1 Director of Sony Life Insurance Co., Ltd. President & CEO, Director of Sony Assurance Inc. Representative Director *2 Masashi Oka Director of Sony Bank Inc. President, Representative Director of Sony Financial Ventures Inc. *2 Director of Sony Life Insurance Co., Ltd. Managing Director Hiroaki Kiyomiya Director of Sony Assurance Inc. Director of Sony Bank Inc. Director of Sony Life Insurance Co., Ltd. Director of Sony Assurance Inc. Director Hiroyuki Tsubota Director of Sony Lifecare Inc. Director of Sony Financial Ventures Inc. Director, Senior EVP*3, CFO, Representative Corporate Executive Director Hiroki Totoki Officer of Sony Corporation Director Shiro Kambe EVP*3, Corporate Executive Officer of Sony Corporation Director Naomi Matsuoka Senior Vice President of Sony Corporation Director (Outside*4) Shiro Kuniya*5 － Director (Outside*4) Takatoshi Ito*5 － Director (Outside*4) Shogo Ikeuchi*5 － Director (Outside*4) Kaoru Takahashi*6 － Audit & Supervisory Board Member of Sony Life Insurance Co., Ltd. Standing Audit & Supervisory Yasuyuki Hayase*5 Board Member (Outside*4) Audit & Supervisory Board Member of Sony Assurance Inc. Audit & Supervisory Board Member of Sony Bank Inc. Audit & Supervisory Board Yoshimichi Makiyama*5 － Member (Outside*4) Audit & Supervisory Board Senior General Manager, Global Accounting Division of Sony Hirotoshi Korenaga Member Corporation Notes: 1. The Sony Financial Group here consists of SFH and its direct subsidiaries, Sony Life Insurance Co., Ltd., Sony Assurance Inc., Sony Bank Inc., Sony Lifcare Inc. and Sony Financial Ventures Inc. Positions at Sony Life Insurance Co., Ltd., Sony Assurance Inc., Sony Bank Inc., Sony Lifcare Inc. and Sony Financial Ventures Inc. are subject to the approval of each company’s General Meeting of Shareholders, as well as the Board of Directors’ meeting, both to be held by each of the companies on June 23, June 23, June 23, June 18 and June 23 2020, respectively. 2. These positions are subject to approval of the Financial Services Agency in accordance with the Insurance Business Law and the Banking Law. 3. EVP stands for Executive Vice President. 4. Outside Officers are in accordance with the Companies Act of Japan. 5. Shiro Kuniya, Takatoshi Ito, Shogo Ikeuchi , Yasuyuki Hayase and Yoshimichi Makiyama are Independent Officers based on the rules of the Tokyo Stock Exchange. 6. SFH plans to register Kaoru Takahashi as Independent Director based on the rules of the Tokyo Stock Exchange. For inquiries: Investor Relations Dept. Sony Financial Holdings Inc. Telephone: + 81-3-5290-6500 E-mail: [email protected] Website of Sony Financial Holdings Inc.: https://www.sonyfh.co.jp/index_en.html 4 .
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