DIC Corporation Consolidated Financial Results FY2022: Nine Months Ended September 30

Consolidated net sales increased sharply, owing to ongoing efforts to adjust sales prices in response to elevated
energy, logistics and raw materials costs.

Operating income edged down. This decrease was due to dwindling shipments and was despite continued efforts to
pass on higher costs by modifying sales prices. The absence of ¥4.2 billion in one-time expenses recorded in the
corresponding period of fiscal year 2021 in association with the integration of the C&E pigments business narrowed
the margin of decline.

Despite continued efforts to adjust sales prices to counter spiraling costs, shipments are projected to be lower than
formerly anticipated. As a consequence, the Company has revised its forecasts for full-term net sales and operating.