External Ratings

Logo	Index	Overview of the Group’s rating
	FTSE Blossom Japan Index *1	An ESG investment index designed by FTSE Russell with a focus on Japanese companies. Those companies that demonstrate excellent ESG practices are selected. H.U. Group Holdings Inc. has been selected for the second consecutive year since 2023.
	FTSE Blossom Japan Sector Relative Index *1	An ESG investment index designed by FTSE Russell with a focus on Japanese companies. Indices reflect the performances of Japanese companies that demonstrate excellent ESG practices, which are comprehensively reviewed in each investment sector. In addition, to facilitate a shift towards a low-carbon economy, in sectors that produce significant quantities of greenhouse gases, only companies that have received favorable evaluations on climate change-related initiatives and governance improvements are included as constituents. H.U. Group Holdings Inc. has been selected for the third consecutive year since 2022.
	MSCI Nihonkabu ESG Select Leaders Index *2	The index is composed of stocks of companies with superior ESG performance targets of 50% by number of securities in market capitalization of the MSCI Japan IMI covering Japanese stocks as the parent index. H.U. Group Holdings Inc. was selected for the first time in 2024.
	MSCI Japan ESG Select Leaders Index *2	The index is composed of stocks of companies with superior ESG performance targets 50% of the free float-adjusted market capitalization within the MSCI Japan IMI covering Japanese stocks as the parent index. H.U. Group Holdings Inc. has been selected as a constituent for eight consecutive years since 2017.
	MSCI Japan Empowering Women Index (WIN) *2	The index is composed of stocks of companies with excellent gender diversity scores in market capitalization of the MSCI Japan IMI covering Japanese stocks as the parent index. H.U. Group Holdings Inc. has been selected as a constituent for six consecutive years since 2019.
	S&P/JPX Carbon Efficient Index	This index scores according to environmental information disclosure and carbon efficiency level (sales-based carbon emissions intensity). H.U. Group Holdings Inc. has been selected as a constituent stock for seven consecutive years since 2018.
	Morningstar Japan ex-REIT Gender Diversity Tilt Index　※３	Morningstar, Inc. designed this ESG index to emphasize companies in the Japanese market that have strong gender diversity policies embedded in their corporate culture and that ensure equal opportunities to employees, irrespective of their gender. H.U. Group Holdings, Inc. has been selected as "Group 1," the highest ranking, for two consecutive years since 2023.
	SOMPO Sustainability Index	Index The index is composed of some 300 stocks with strong reputations for environmental, social, and corporate governance (ESG), selected based on the results of an ESG management survey conducted by SOMPO Risk Management Inc. H.U. Group Holdings Inc. has been selected as a constituent for four consecutive years since 2021.

• FTSE Russell (the trading name of FTSE International Limited and Frank Russell Company) confirms that H.U. Group Holdings, Inc. has been independently assessed according to the FTSE Blossom Japan Index and the FTSE Blossom Japan Sector Relative Index criteria, and has satisfied the requirements to become a constituent of the indices. 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 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.
• The inclusion of H.U. Group Holdings, Inc. in MSCI indexes and the use of any MSCI logo, trademark, service mark or index name does not constitute sponsorship, endorsement, or promotion of H.U. Group Holdings, Inc. by MSCI or any of its affiliates. MSCI indexes are the exclusive property of MSCI. MSCI index names and logos are trademarks or service marks of MSCI or its affiliates.
• Morningstar, Inc., and/or one of its affiliated companies (individually and collectively, “Morningstar”) has authorized H.U. Group Holdings, Inc. to use of the Morningstar Japan ex-REIT Gender Diversity Tilt Logo (“Logo”) to reflect the fact that, for the designated ranking year, H.U. Group Holdings, Inc. ranks in the top quintile of companies comprising the Morningstar® Japan ex-REIT Gender Diversity Tilt IndexSM (“Index”) on the issue of gender diversity in the workplace. Morningstar is making the Logo available for use by H.U. Group Holdings, Inc. for informational purposes. H.U. Group Holdings, Inc. use of the Logo should not be construed as an endorsement by Morningstar of H.U. Group Holdings, Inc. or as a recommendation, offer or solicitation to purchase, sell or underwrite any security associated with H.U. Group Holdings, Inc. 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 disclaim 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.

Index	Overview of the Group’s rating
MSCI ESG Ratings *	The MSCI ESG Rating rates companies on a scale of 'AAA' to 'CCC' according to their exposure to ESG risks and how well they manage those risks relative to peers. H.U. Group Holdings Inc. has earned the highest rating of AAA for the third consecutive year since 2022.
CDP	Based on the questionnaire related to global environmental issues, the CDP, an international NGO, assess the responses from companies, etc. and discloses the information. H.U. Group Holdings, Inc. has received the second highest "A-" rating as a leadership level in the CDP Climate Change Report for four consecutive years since 2021. Additionally, the Supplier Engagement Rating (SER) rates how effectively companies collaborate with suppliers regarding climate change issues and in 2023 the Group received the second highest score of A- rating. The Group also received a "B-" rating in the "Water Security Report 2024."
ISS ESG	ISS ESG is an ESG investment-related solutions business unit of Institutional Shareholder Services (ISS), a world-leading US proxy advisory firm, and is one of the leading ESG rating agencies. H.U. Group Holdings, Inc. has been certified the "Prime" status in “ESG Corporate Rating” by ISS ESG since 2023.
KENKO Investment for Health	KENKO Investment for Health is selected jointly by the Ministry of Economy, Trade and Industry (METI) and the Tokyo Stock Exchange as "a company that considers employee health management from a management perspective and puts it into strategic practice." H.U. Group Holdings, Inc. has been selected for two consecutive years since 2024.
Outstanding Organizations of KENKO Investment for Health Program (Large Enterprise Category) "White 500"	Outstanding Organizations of KENKO Investment for Health Recognition System is an awards system run by Nippon Kenko Kaigi. It aims to make large companies, small and medium-sized enterprises, and other organizations that practice excellent health and productivity management more visible. This will create an environment in which they can receive social recognition from employees, job seekers, related companies, financial institutions, and others. The group has been certified as a "White 500," an award given to the top 500 corporations in the large organization category, for four consecutive years since 2022.
Digital Transformation Stock (DX Stock)	METI selects and publishes the list of DX Stocks jointly with the Tokyo Stock Exchange (TSE) and Information-technology Promotion Agency, Japan (IPA) selecting outstanding companies which have established internal systems for promoting digital transformation (DX) to improve corporate value. H.U. Group Holdings Inc. has been selected for the second consecutive year since 2023.
Digital Transformation (DX) Certification	H.U. Group Holdings Inc. has been certified as a DX-certified company under the Ministry of Economy, Trade and Industry (METI)'s digital transformation (DX) certification system in February 2023. As a social infrastructure company protecting lifelines with a focus which focuses on lab testing and its related services, the Group will construct and stably operate a highly reliable IT infrastructure system, increase the efficiency of business using IT infrastructure, reform businesses using ICT and promote DX.
Toyo Keizai Inc. CSR Company Ranking	The ranking evaluates Japanese companies from four aspects of CSR initiatives (human resources and utilization, environment, corporate governance, and social responsibility) and financial aspects. H.U. Group Holdings Inc. was rated as follows in the 2025 edition rankings. (1,715 companies surveyed) ✔ CSR Company Ranking: Ranked 164th overall and 3rd by industry.

* The use by H.U. Group Holdings, Inc. of any data of MSCI ESG Research LLC or its affiliates (“MSCI”) and the use of MSCI logos, trademarks, service marks, or index names herein do not constitute a sponsorship, endorsement, recommendation, or promotion of H.U. Group Holdings, Inc. by MSCI. MSCI services and data are the property of MSCI or its information providers and are provided “as is” and without warranty. MSCI names and logos are trademarks or service marks of MSCI.