Progress Report 2025（EN）

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Progress Report 2025

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Progress Report 2025 02 Introduction Our Vision Our Approach Progress Message from CEO Bioworks is committed to the development and expansion of PlaX, a next-generation plant-based synthetic fiber, under our Sustainability Vision: "Empowering Creators, Inspiring Wearers: A New Ecosystem for a Sustainable Fashion Future." Our goal is to provide an alternative to conventional petroleum-based materials, which are the most widely produced and used in the textile industry. By offering this solution, we aim to contribute to reducing environmental impact across various industries, including fashion, and to enable the textile sector to continue thriving while addressing environmental challenges. The year 2024 has been a breakthrough year for Bioworks. The number of companies adopting PlaX has steadily increased, particularly in Japan, and we have also launched collaborations with numerous global brands and textile companies. To prepare for the growing demand, we have strengthened our production framework with domestic and international partners, making strategic investments and forming key partnerships to overcome challenges and pave the way for global expansion. Furthermore, leveraging the hydrolyzable characteristics of PlaX, we have initiated research and pilot projects on recycling, aiming to design a truly circular system where used products can be repurposed as new resources. We sincerely appreciate the support of our customers, partner companies, investors, and our employees, who continue to take on new challenges every day. The encouragement and trust of all our stakeholders involved with PlaX drive our innovation and growth. Moving forward, we will accelerate our technological advancements and business expansion to establish PlaX as a global material. Bioworks remains committed to pursuing our Sustainability Vision, and we greatly appreciate your continued support. Koji Sakamoto President & CEO, Bioworks Inc.

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Progress Report 2025 06 Introduction Our Vision Our Approach Progress Clothing made from non-petroleum-based materials, infused with functionality and creativity, enriches both creators and wearers. When these garments reach the end of their lifecycle, they seamlessly connect to the next cycle. Bioworks envisions building this new ecosystem together with partners around the world. The overall vision of a new ecosystem Empowering Creators, Inspiring Wearers: A New Ecosystem for a Sustainable Fashion Future Sustainability Vision Since the Industrial Revolution, clothing mass-produced under the excesses of capitalism has put significant strain on the environment, with over half of it ending up discarded. In such circumstances, traditional methods of production are no longer sustainable. However, clothing is a wonderful thing that stimulates the creativity of those who make it and enriches the self-expression of those who wear it. That is why we believe that even in the sustainability transformation of the apparel industry, the inherent prosperity of clothing itself should not be lost. What Bioworks aims for is a new ecosystem where the joy of creating and the prosperity of wearing continue. Our goal is to achieve a society where, even 100 years from now, amidst limited natural resources, we can sustain a rich life and economy while unleashing human creativity. PlaX™, made from plant-derived materials, offers a new alternative to petroleum-based synthetic fibers. Through PlaX™, we contribute to the smooth transformation of sustainability in the apparel industry. Manufacturing Usage Recycling Raw material production Product planning Empowering Creators, Inspiring Wearers: A New Ecosystem for a Sustainable Fashion Future Shifting from petroleum to plant-based materials Developing functional and creative products Enabling the next cycle (e.g., chemical recycling) Transparency

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Progress Report 2025 07 Introduction Our Vision Our Approach Progress Behind the Formulation of the Sustainability Vision Sumika Tabara Executive Officer, Chief Sustainability Officer (CSuO) ɹ Why is a Sustainability Vision Needed Now ? Bioworks was founded with the strong conviction of its current Chairman, Imai, who aspired to create a business that contributes to environmental improvement. Since the period of rapid economic growth, plastic has continued to see increasing demand due to its convenience, but this growth has also led to a proportional rise in environmental impact. This situation prompted a fundamental question: "Is this really acceptable?" This question is the very foundation of Bioworks. At the time of Bioworks’ founding in 2015, sustainability was still a relatively novel concept and was often perceived as an extension of CSR activities. However, in the same year, the adoption of the SDGs at the UN Summit accelerated a paradigm shift. Today, many companies have pivoted toward sustainable business practices. Yet, the term "sustainability" is broad and open to interpretation, sometimes leading to vague understandings such as "activities that are somehow good for the planet." In this context, we felt the need to clarify our corporate stance on what kind of sustainable world we aim to achieve through our business. The fashion industry, where Bioworks operates, faces numerous complex social and environmental issues largely rooted in its intricate industrial structure. Attempting to solve a single problem may inadvertently lead to negative impacts on other areas, making it difficult to address issues in isolation. Furthermore, fashion has a rich history and culture that shapes human expression and well-being. If we focus solely on restructuring the industry, we risk overlooking the cultural aspects of creativity and self-expression. Given these circumstances, advancing the sustainability of the fashion industry requires the understanding, empathy, and cooperation of a broad range of stakeholders. To foster this shared commitment, we recognized the necessity of articulating a clear vision that communicates the future we aim to create. This realization was the driving force behind launching the "Sustainability Vision Project" as my first initiative after assuming the role of CSuO. How Was the Vision Developed ? To kick off the project, we brought together the executive team and managers for a series of discussions. Using case studies from various fashion-related companies, we asked the fundamental question, "Is this truly sustainable?" This exercise underscored the challenge of defining sustainability uniformly and allowed us to share and understand our diverse perspectives. Next, we examined the root causes behind the expansion of social and environmental issues. By tracing the history of the textile industry back to the first and second industrial revolutions, we explored how mass production and mass disposal evolved under capitalism and how they have led to the challenges we face today. As a result, we identified the best-case and worst-case future scenarios for the fashion industry. We then analyzed the obstacles along the way, assessed whether our strengths could help overcome these challenges, and engaged in extensive discussions. Through this process, we carefully crafted the language to articulate our vision. Finally, we shared the draft with all employees, incorporated their feedback, and formally established it as the Sustainability Vision Statement. Since its inception, Bioworks has brought together employees from diverse backgrounds: researchers who have dedicated years to studying polylactic acid (PLA), individuals from the apparel industry who joined out of concern for the industry's environmental impact, and professionals from entirely different fields drawn to PlaX’ s potential. This diversity in perspectives enriched our discussions, allowing us to approach "sustainability" from multiple angles. Moving forward, our focus shifts to implementing this vision. Achieving such an ambitious goal is beyond the capability of a single company alone. Instead, we seek to realize this vision through co-creation with our stakeholders.

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Progress Report 2025 09 Introduction Our Vision Our Approach Progress Connections That Bring People Together Sakamoto: It has been three years since I first met you, President Hase, but I heard that you were already aware of Bioworks before then. Hase: Yes, that was back in 2017. Someone introduced me to the unique technology that transforms PLA into textile fibers. Looking back, even before we officially partnered for development, we were already connected through various people. Sakamoto: I completely agree. Our encounter feels like a result of those unexpected human connections. By the way, what was your first impression when you first heard about Bioworks? Hase: Actually, I had experience working with PLA materials over a decade ago in the carpet business. Back then, PLA had some physical challenges—it was an interesting material but also quite difficult to work with. However, through our collaboration with Bioworks, I’ ve come to see its true potential, and my expectations have only grown. Given the tough conditions facing Japan’ s spinning industry, Hasetora Spinning feels a sense of urgency— we must actively take on the challenge of new materials like PlaX to help drive change in the industry. Cherishing What We Own: The First Step Toward Sustainability Sakamoto: What are your thoughts on sustainability in the textile industry? Hase: The rise of fast fashion has made the issue of waste disposal more serious, but simply eliminating fashion isn’ t the solution. Wearing clothes that we love enriches our lives—that’ s something we must never lose. That’ s why we need to rethink how things are made and focus on developing new materials that reduce environmental impact. At the same time, true sustainability isn’ t just about reducing consumption; it’ s about valuing and cherishing what we already own. To make this happen, we need better ways to communicate the craftsmanship and stories behind each product, helping consumers develop a deeper appreciation for what they wear. Sakamoto: That makes a lot of sense. But as players positioned upstream in the supply chain, communicating these values directly to consumers isn’ t always easy. What do you think could be an effective approach? Hase: I believe the best way is to let people see the manufacturing process firsthand. That’ s why we invite local students to tour our factories and experience textile production up close. Through these visits, we’ve realized that what seems ordinary to us—spinning yarn, for example—can be incredibly eye-opening for those unfamiliar with the industry. Since having a manufacturing base is one of our strengths, creating these opportunities is crucial for helping consumers understand and appreciate the value of what they own. Sustainability Relies on Traceability—And Trust Sakamoto: The fashion industry is making strides in visualizing traceability. Starting this year, we’ve also begun showcasing the PlaX production process at exhibitions to make it more transparent to consumers. What are your thoughts on this approach? Hase: Establishing traceability is essential to proving that a material is truly sustainable. However, given the fashion industry’ s long and complex supply chain, achieving full traceability is no easy task. Sakamoto: Bioworks takes full responsibility for the traceability of the areas we directly manage. But once we pass the materials on to Hasetora Spinning, for example, the responsibility then shifts to your company to ensure traceability further down the chain. Ultimately, maintaining transparency depends on strong trust between partners. Hase: Exactly. Trust is key. That’ s why we place great importance on doing business with people we can see and connect with directly. For instance, we’ ve been sourcing cotton from the same contracted farms for over 30 years. From a purely cost-efficiency standpoint, we could simply buy the cheapest cotton available through trading companies. But because of the relationships we’ ve built with these farmers, we’ re able to secure the quality we need—even in years when yields are low. I believe this kind of trust-based relationship is fundamental to achieving real traceability.

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Progress Report 2025 10 Introduction Our Vision Our Approach Progress The Joy of Creation as a Driving Force Sakamoto: At Bioworks, one of our core values is the "joy of creation." To us, this means not just the satisfaction of making something, but also the process of building trust and creating added value. I imagine this concept is also important to your company. How do you communicate this to your employees? Hase: As part of our new employee training, we take our team to retail stores where products made with our yarn are sold. Many of our spinning technicians rarely get to see the final products firsthand, so they don’ t always have a clear picture of how our materials are being used or who’ s buying them. But when they see customers smiling as they purchase these products, it sparks a shift in perspective—suddenly, they start thinking, “How can we make even better yarn?” These moments of realization, where they feel a genuine connection to the end product, are what we believe fuel both individual and company growth. Sakamoto: That’ s a fantastic initiative. It sounds like a great way to cultivate a sense of purpose in your team. In our work with PlaX, we’ re aiming to build an ecosystem where different stakeholders collaborate to innovate. There are still challenges to overcome, but I believe that precisely because of these challenges, we can inspire creativity in makers. Hase: We see it as a positive challenge. Right now, we’ re shifting toward becoming a "knowledge-based manufacturing company," where our expertise and problem-solving abilities become a key competitive advantage. The experience we’ ve gained in developing difficult materials has given us valuable know-how, which we believe will set us apart in the future. Eventually, we hope to export this knowledge globally, expanding the possibilities of textile innovation even further. Sakamoto: Having partners like Hase-Tora Spinning, who are passionate about new materials and see them as an opportunity rather than a hurdle, is incredibly encouraging for Bioworks as we expand into the global market. Hase: I believe that in the near future, environmentally friendly materials will no longer be a niche but a standard in the industry. We want to actively combine PlaX with the processing techniques and functional expertise developed in the traditional textile industry to create new value. Our goal is to contribute to solving global social issues—through the power of materials. Sakamoto: Thank you. We’ re looking forward to continuing this journey together, leveraging Bioworks’ core material modification technologies to expand PlaX’ s capabilities and applications. I really appreciate your time today. HASETORA SPINNNING CO.,LTD Hasetora Spinning Co., Ltd. was founded in 1887 in Hashima City, Gifu Prefecture. Today, we operate across multiple sectors, including a spinning division for textiles, apparel, and industrial materials, as well as an interior division specializing in carpets and automotive upholstery.

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Progress Report 2025 12 Introduction Our Vision Our Approach Progress Drawn to PlaX for Its Potential as a Polyester Alternative Sakamoto: How did you first come across Bioworks? Iwaki: About two years ago, we were introduced through Takisada Nagoya. As a company, we typically prioritize the texture and feel of materials when developing products. However, what really captivated us about PlaX was its potential to serve as an alternative to polyester. Polyester is an essential material for us because it blends well with many different fibers. The idea that a plant-based material could achieve the same functionality while reducing environmental impact was incredibly appealing. Sakamoto: Eventually, you decided to use PlaX in the Spring/Summer 2024 collection for emmi. How did that come about? Iwaki: emmi is a brand built around sustainability and wellness, and our customers resonate with that philosophy. As we explored ways to take our sustainability efforts a step further and communicate them more effectively, we discovered PlaX. Our team was highly enthusiastic about incorporating it into product development, making the decision to adopt it a smooth process. Sakamoto: What kind of response did you receive after the launch? Iwaki: Our customers have been very supportive of emmi’s sustainability initiatives. At trade shows, we collaborated with your team to visualize the environmental impact of the manufacturing process using the evidence you provided on PlaX’s reduced footprint. This effort attracted significant attention, leading to media coverage from newspapers and interest from developers proposing sustainability-focused events. Sakamoto: Listening to your experience, I’m reminded of how crucial it is to work with brands that naturally align with sustainability, like emmi, in order to drive the adoption of new materials. Iwaki: Absolutely. I believe the key was balancing fashion appeal with sustainability. Some material manufacturers focus so heavily on showcasing their product’ s functionality that they push for branding in a way that disrupts a brand’ s core messaging. When that happens, it can create confusion for customers. In contrast, PlaX integrated seamlessly into emmi’ s brand identity, allowing us to incorporate it in an organic and natural way. This reaffirmed for us that for sustainable materials to gain widespread acceptance, they need to be easy for both brands and consumers to adopt. The Ripple Effect of “Let’s Do This Together” Sakamoto: What are your thoughts on the challenges facing sustainability in the fashion industry? Iwaki: One of the biggest issues is the lack of transparency regarding the industry’ s actual environmental impact. Many companies don’ t have a clear understanding of how much CO₂ they generate or what specific challenges they need to address. Even when domestic efforts are made to reduce emissions, the reality is that a significant portion of production takes place in China and Southeast Asia, meaning we need to consider the broader impact beyond just Japan. However, because many apparel brands primarily interact with trading companies and manufacturers rather than the factories themselves, there is often a disconnect from the production sites. Achieving a truly sustainable industry requires a unified effort across the entire supply chain, but this understanding is still limited. The pandemic further exacerbated this issue by shifting communication online, reducing the frequency of direct engagement with production sites. Sakamoto: Given these challenges, how is your company working to address them? Iwaki: Instead of simply telling our upstream partners, “You need to do this,” we take a collaborative approach, saying, “Let’s do this together.” This fosters a sense of partnership and naturally encourages more widespread engagement. Sakamoto: Just changing the way you communicate can significantly shift people’ s mindset. Iwaki: One memorable example comes to mind. Two years ago, we created a poster summarizing key sustainability initiatives and distributed it to production sites. Rather than using directive language, we framed it as a shared commitment, accompanied by soft, inviting illustrations. The response was incredible—factory teams took it upon themselves to distribute the posters locally, helping spread awareness beyond the factory walls. It was a powerful reminder that an open, participatory approach is far more effective than a top-down directive. Sakamoto: It’ s remarkable that an internal corporate initiative could expand to reach the broader community. At Bioworks, we also emphasize relationship-building in our Partnership Development Guidelines, choosing to refer to suppliers as “partners” to foster a more collaborative dynamic. Hearing your experience reinforces the importance of that approach. I’ d love to see the poster you mentioned later.

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Progress Report 2025 13 Introduction Our Vision Our Approach Progress Engaging Customers in the Sustainability Journey Sakamoto: In our Sustainability Vision, established last year, we framed the joy of self-expression through clothing as “the richness of wearing.” We believe that as we work to address social issues within the fashion industry, this fundamental joy must be preserved. How do you think we can balance environmental responsibility with maintaining fashion’ s cultural and emotional significance for customers? Iwaki: Our company operates under the philosophy of “designing wellness,” with the goal of bringing happiness not just to our customers, but to all stakeholders. Fashion is inherently about joy and self-expression, but if the industry continues to place a burden on the environment, that joy is ultimately unsustainable—not just for consumers but for everyone involved in the supply chain. That’ s why it’ s essential to make the environmental impact of clothing production visible and communicate it effectively. This isn’ t something any single company can achieve alone; it requires collective action across the industry. Sakamoto: When discussing sustainability with various brands, we often hear that their motivation for using sustainable materials comes from shareholder expectations rather than customer engagement. However, your approach ensures that environmental responsibility is clearly communicated to customers while still offering a fun and fulfilling shopping experience. Iwaki: Exactly. We’ re careful to communicate sustainability in a way that avoids misunderstandings. For years, we’ve focused on creating high-quality garments designed to be worn and cherished for a long time. In the same way, we see sustainability as something to pursue together with our customers, rather than simply presenting them with environmental statistics. That’ s one of the reasons we have such high hopes for PlaX—it aligns with this philosophy perfectly. Sakamoto: At Bioworks, we’re committed to advancing PlaX by continuously refining its quality and expanding its applications. We’re also eager to incorporate feedback from your team so that we can grow together as partners. Thank you for your time today. MASH Style Lab.Co., Ltd. MASH Style Lab is the fashion business division of the MASH Group, which operates in various sectors, including fashion, beauty, food, design, and real estate. Mash Style Lab manages over 20 fashion brands, including "SNIDEL" and "gelato pique."

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Progress Report 2025 15 Introduction Our Vision Our Approach Progress Cumulative Fundraising Amount 2.62 billion yen Production Equipment for Compounding & Global Fabless Production Accumulated Knowledge & Technological Advancements in PLA Functionality & Recycling Diverse Talent Pool of PLA Researchers, Textile Experts, and Fashion Industry Professionals Relationships with Global Apparel Brands & Government Officials Electricity & Water Usage in Offices & Production Facilities R&D & Production of PlaX-Based Products Fibers, Textiles, Trims & Notions, Molded Products Expanding Global Awareness of PlaX (PR & Communication) Establishing a Sustainable Procurement Supply Chain Developing PlaX Recycling Technologies & Systems Enhancing Transparency & Traceability of PlaX Products Increasing the Distribution of PlaX-Related Products (610,000 tons by 2030) Raising Awareness & Literacy on Alternative Materials Increasing Agreements to Partnership Guidelines Expanding the Circulation of Recycled PlaX Increasing the Share of Traceable PlaX Products Reducing Resource Input & Clothing Waste Reducing Microplastic Emissions Reducing CO₂ Emissions from Clothing Disposal Transforming Wearers' Mindsets & Actions (Redefining Prosperity) Transforming Creators' Mindsets & Actions (Enhancing Creativity) Reducing CO₂ Emissions from Increased Clothing Production Accelerating Decarbonization *Contributing to a 2.2 million-ton CO₂ reduction by 2030. Biodiversity Conservation / Water Pollution Prevention ɹContribution to a Circular Economy Increasing Alternatives to "Disposal" Expanding Alternative Material Options in Purchasing Decisions Enhancing the Value of In-House Products with PlaX Accelerating the Shift from Petroleum-Based Materials Brand Brand Consumer Consumer Brand Empowering Creators, Inspiring Wearers: A New Ecosystem for a Sustainable Fashion Future Inputs Activities Outputs Outcomes short-term Outcomes Medium-term Impact Vision Pathway to Achieving the Sustainability Vision Accelerating the Shift from Virgin to Recycled Materials ɹSustainable Growth of the Fashion Industry & Cultural Continuity To achieve our Sustainability Vision, we identify our strengths, target impact, and desired societal change.

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Progress Report 2025 18 Introduction Our Vision Our Approach Progress 1 Ongoing R&D and production of PlaX-related products However, traditional PLA faced challenges in heat resistance, durability, and dyeability, making it difficult to expand into markets like apparel. While many companies withdrew from PLA development, Bioworks CTO Terada remained committed to unlocking its potential, continuously working to overcome these challenges with a unique approach. After years of research, Bioworks successfully developed PlaX, a new material that significantly enhances the heat resistance, durability, and dyeability of PLA. When Bioworks was founded in 2015, the company initially focused on manufacturing and selling molded resin products like disposable cups, bottles, and cutlery. Through this dedication, Bioworks established the technology behind PlaX and identified its potential in textiles, leading to a full-scale expansion into the fiber industry in 2021. Today, PlaX is recognized as a next-generation plant-based synthetic fiber that balances functionality and environmental impact reduction, gaining attention both domestically and internationally, with adoption by various brands. Since the 1990s, polylactic acid (PLA) has gained attention as an environmentally friendly bioplastic made from plant-based raw materials such as sugarcane and corn. In the early 2000s, major companies began R&D on new materials utilizing PLA. From the 1990s to the early 2000sɹ 2006ɹɹ 2007ɹɹ 2015ɹɹ 2018ɹɹ 2021ɹɹ 2024 PLA gained attention but struggled with market adoption due to material limitations Established predecessor company Biobase Corp. Joint research with Osaka University Launched PlaX fiber business PlaX adopted by 50 brands Started joint fabric development, manufacturing, and sales with domestic and international companies Developed plant- based additives Launched PlaX resin molding business Accelerated development of PlaX fiber Founded Bioworks Corp.

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Progress Report 2025 19 Introduction Our Vision Our Approach Progress Development and Production of PlaX Fiber/Yarn One of the biggest challenges in replacing conventional petroleum-based materials is cost. To drive cost reductions, Bioworks is focusing on improving yield rates while simultaneously expanding both PLA supply from manufacturers and PlaX production scale. For stable supply, Bioworks is accelerating the development of a global supply chain, particularly in ASEAN regions, to establish a robust production foundation. To ensure consistent quality, molecular weight measurements and strength/ durability tests are conducted after processing. A quality verification system has been established in collaboration with in-house research facilities and public testing institutions. As a fabless company, Bioworks does not own manufacturing facilities, making close collaboration with partner companies essential for quality stability. By working with partners across spinning, yarn production, weaving/knitting, dyeing, and sewing, Bioworks continues to refine, verify, and share expertise in PlaX fiber manufacturing processes to enhance and maintain quality. Plant-based Reduce CO2 Emission Circulation Anti-microbial Anti-odor Characteristics of PlaX PlaX is an innovative material made from polylactic acid (PLA) derived from sugarcane, enhanced with a proprietary plant-based additive to significantly improve its heat resistance, durability, and dyeability compared to conventional PLA. Compared to petroleum-based synthetic fibers, PlaX reduces CO₂ emissions during production. Additionally, it possesses lactic acid-derived antibacterial and deodorizing properties without requiring chemical post-processing—features not found in traditional synthetic fibers. This functionality has been highly regarded, leading to its adoption in products that come into direct contact with the skin, such as underwear, innerwear, and socks, as well as in baby product brands that avoid chemical treatments. PlaX also offers multiple pathways for resource circulation. Its biodegradability allows it to break down into water and carbon dioxide through microbial activity. Furthermore, its hydrolysis property—where molecular bonds break under heat and water—enables chemical recycling, allowing waste materials to be regenerated into equivalent-quality materials. Research, development, and demonstration trials are currently underway to implement these recycling methods at scale. Replace 10% (610,000 tons) of polyester growth from 2024 to 2030 with PlaX, ensuring competitive pricing and quality TARGET 2030 Goals

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Progress Report 2025 21 Introduction Our Vision Our Approach Progress Founded in 1893, Yagi Co., Ltd. is a textile trading company that has maintained the spirit of its corporate philosophy, "Sincerity at All Times" The company has demonstrated agility in responding to changes in society and the times, and currently operates a wide range of businesses, from materials and lifestyle products to apparel, brands, and retail. YAGI & CO.,LTD. Shoji Fukumori General Manager Sales Dept.230 Global Material Business Unit Q1ɹWhat values and standards do you prioritize in your efforts to create environmentally and socially responsible products? A1 ɹThe environmental impact of our business extends from raw material procurement to the delivery and disposal of products. As environmental issues become more severe on a global scale, we are committed to contributing to the fight against climate change, promoting a circular economy, and achieving carbon neutrality to pass on a sustainable planet to the next generation. Q2ɹHow do you feel PlaX’ s characteristics (environmental performance, texture, functionality, etc.) align with your company's initiatives? Also, could you share any standout features or attractive qualities you have experienced with PlaX? A2 ɹPlaX aligns well with our environmental action policy: "To promote the realization of a sustainable society by considering the global environment in every business area, from raw material procurement to product manufacturing, supply, and disposal." As a plant-based alternative to synthetic fibers, PlaX represents a material that meets the needs of the times, and being involved in its sales presents a new and exciting opportunity for us. Q3ɹWhat are the future prospects and challenges in your collaboration with Bioworks? A3ɹ We aim to leverage our expertise in raw material and product businesses to establish a robust supply chain, particularly in overseas markets, as quickly as possible. While we anticipate that stable product supply will take some time, we intend to overcome these challenges through our partnership with Bioworks. Q4ɹWhat kind of future do you hope to realize through your partnership with Bioworks? Do you have any expectations for Bioworks or a message for future collaboration? A4ɹ We aim to create new value in the world by driving innovation with PlaX to support a richer and more fulfilling lifestyle. Partners Voice Yagi & Co., Ltd. – Supply chain development partner in ASEAN

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Progress Report 2025 23 Introduction Our Vision Our Approach Progress Partners Voice AceGreen Eco-Material Technology Co., Ltd.　 Chou Roger　　 CEO AceGreen Eco-Material Technology – Development partner for PlaX Filament AceGreen Eco-Material Technology Co., Ltd. is a company that provides environmentally conscious fiber materials. Currently, the company primarily supplies products to specific segments of the apparel market and has established a certain level of recognition in both domestic and international apparel markets. The company is currently working with many supply chain-related companies within the country to develop products utilizing fiber materials, while also promoting and selling them in international markets. Q1ɹWhat values and standards do you prioritize in your efforts to create environmentally and socially responsible products? A1 ɹThe values we prioritize most are "sustainability," "social responsibility," "innovation," "transparency," and "social impact assessment." We aim to minimize the environmental impact of our products by using renewable and recyclable materials and ensuring that the production process does not negatively affect the environment. Furthermore, we are committed to social responsibility throughout the development process, emphasizing honesty and transparency in clearly communicating the origin and impact of our products to consumers. For every development project, we conduct a thorough impact assessment, striving to create long-term positive change for society, the environment, and the economy. Q2 ɹHow do you feel PlaX’ s characteristics (environmental performance, texture, functionality, etc.) align with your company's initiatives? Also, could you share any standout features or attractivequalities you have experienced with PlaX? A2ɹ We are currently focusing on the production of filament yarn using PlaX. From a yarn production perspective, PlaX not only offers properties that were difficult to achieve with conventional materials but also provides additional benefits such as biodegradability and antibacterial properties. Considering market trends in material development, environmentally conscious materials are expected to become mainstream as addressing climate change becomes increasingly important. Therefore, we are particularly focused on the environmental performance of PlaX. Q3ɹWhat are the future prospects and challenges in your collaboration with Bioworks? A3 ɹ In our collaboration with Bioworks, we are currently working on the development of various specifications, primarily for fiber materials. However, there are significant technical challenges involved, such as the material’ s tendency to thermally degrade during production. Additionally, the required physical properties may vary depending on the market, making material modification essential to meet these demands. Overcoming these challenges will require Bioworks’ material modification expertise, which we see as a key factor in achieving success. Q4ɹWhat kind of future do you hope to realize through your partnership with Bioworks? Do you have any expectations for Bioworks or a message for future collaboration? A4ɹ The development needs for new materials vary widely among brands, and collaboration with brands is crucial for the supply chain. Since developing new materials involves high costs, any issues that arise during the process of supplying materials to brands could undermine the credibility of the material. Therefore, we believe that the ideal approach is to support brands collaboratively rather than handling the supply independently.

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Progress Report 2025 24 Introduction Our Vision Our Approach Progress A-GIRL'S CO.,LTD.ɹ Takao Ozaki Creative Director A-Girls is a textile manufacturer backed by a factory with over 90 years of history, providing luxurious, supremely comfortable fabrics trusted by prestigious fashion houses in Japan and abroad. Q1ɹWhat values and standards do you prioritize in your efforts to create environmentally and socially responsible products? A1 ɹAt our company, we value "creating materials with lasting value that are not easily discarded." We aim to establish a system that can be completed entirely within the Wakayama production region. We are committed to sustainable manufacturing by using as many eco-friendly raw materials as possible to reduce environmental impact. Additionally, we focus on enhancing the quality and durability of our materials to create products that can be used for a long time, thereby minimizing waste. Q2 ɹHow do you feel PlaX’ s characteristics (environmental performance, texture, functionality, etc.) align with your company's initiatives? Also, could you share any standout features or attractive qualities you have experienced with PlaX? A2ɹ PlaX contributes to reducing CO₂ emissions and lowering environmental impact, which aligns perfectly with our commitment to sustainable manufacturing. The fact that the material itself has a story behind it is also appealing, as it suggests the potential for sustainable yet luxurious material creation. Regarding spun yarn, the ability to create new textures by blending PlaX with other materials is particularly attractive, offering a wide range of expressive possibilities. For filament yarn, we are excited about the ongoing development of new shapes and yarn counts, and we look forward to future advancements. Q3ɹWhat are the future prospects and challenges in your collaboration with Bioworks? A3 ɹWe aim to continue developing environmentally friendly materials and actively promote them to customers, particularly in the European market. We also plan to explore new textile developments using PlaX and experiment with combinations with other materials to create unique textures. Challenges include the difficulty of dyeing, ensuring consistent quality, and meeting biodegradability standards. We hope to continue working with Bioworks to find solutions to these challenges. Q4ɹWhat kind of future do you hope to realize through your partnership with Bioworks? Do you have any expectations for Bioworks or a message for future collaboration? A4ɹ Through our collaboration with Bioworks, we aim to develop high-quality, attractive textiles that reduce environmental impact. By advancing the development of new materials using PlaX, we strive to create products that combine sustainability with fashion and functionality. We hope Bioworks will continue to drive technological innovation and find solutions for ensuring consistent quality and biodegradability, enabling us to develop even better materials together. Partners Voice A-GIRLS CO., LTD. – Textile development partner for the global market

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Progress Report 2025 25 Introduction Our Vision Our Approach Progress Seivson Tzu Chin Shen Designer Seivson is a Taiwanese fashion brand founded in 2017, centered around the theme of "viewing our (Nos) lives (Vies) from multiple perspectives (in reverse)." The design team was selected by the Taiwanese government as a representative of emerging Asian designers for two consecutive years, leading to numerous awards. As a representative of Taiwan, they have participated in fashion weeks in Tokyo and New York. In 2024, Seivson established its Japanese subsidiary, Seivson Japan Inc. Q1ɹWhat are the core principles behind Seivson's creative process and the inspiration behind the theme for your 25SS collection using PlaX? A1 "Scars are the body’ s memory, wrinkles are the traces left on clothing." This season’ s collection explores the phenomenon of modern society through the lens of women’ s growth. We express the contradictions and distortions that emerge as the line between reality and fiction becomes increasingly blurred. From a design and development perspective, we utilized various wrinkles and textures to highlight the qualities and characteristics of different woven fabrics. While the folds in the fabric may appear random at first glance, they are actually carefully balanced to create a force of opposition and harmony. Just like the subtle traces left on a woman’ s skin, these textures are delicate yet undeniably present. In this season’ s design, we incorporated PlaX, developed by Bioworks, and explored new expressions by layering it with different textures and applying multilayered processing and reconstruction. This challenge of working with new materials and technologies symbolizes the beauty that emerges even after being wounded — like the growth of a living organism. Q2ɹHow do you feel PlaX’ s characteristics (environmental performance, texture, functionality, etc.) align with your company’ s initiatives? Also, could you share any standout features or attractive qualities you have experienced with PlaX? A2 PlaX is a plant-derived synthetic fiber made from sugarcane, known for its ability to reduce environmental impact and CO₂ emissions. These features align perfectly with our commitment to sustainable fashion. During the design process, we strongly felt that PlaX’ s texture and characteristics perfectly resonated with this season’ s theme: "Scars are the body’ s memory, wrinkles are the traces left on clothing." Just as the changes marked on a woman’ s body reflect her growth, the delicate texture and feel of PlaX reflect the nature of modern society. In Seivson’ s creative vision, PlaX is not just a material — it has become an embodiment of our design philosophy. Q3ɹWhat kind of future do you hope to realize through your partnership with Bioworks? Do you have any expectations for Bioworks or a message for future collaboration? A3 We are confident that Bioworks’ expertise and technology in biotechnology will open up new possibilities in environmental protection, resource utilization, and product development. This will help steer the entire industry toward a more environmentally conscious and innovative future. Moving forward, we hope to strengthen the integration of technological development and market application. In particular, we aim to enhance our collaboration in the field of material innovation, working together to develop globally competitive solutions. Through this, we hope to raise the standards of the industry and contribute to the realization of a sustainable future. Partners Voice Seivson – A Taiwan-based fashion brand gaining global attention

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Progress Report 2025 26 Introduction Our Vision Our Approach Progress 3-1 Building a Sustainable Supply Chain In the apparel and textile industries, environmental impact, human rights violations, and labor risks within the supply chain have become increasingly serious concerns. In this context, businesses are expected not only to comply with national laws and regulations but also to understand, respect, and implement international standards and principles related to the environment and human rights. At Bioworks, we are committed to working with our partners to transform the textile supply chain into a more sustainable and responsible system. We established the "Partnership Development Guidelines" in May 2024, based on our "Procurement Policy." After sharing them with mass production partners, six companies have signed on. Moving forward, we will work together to reduce environmental impact and address social issues. In 2021, an LCA analysis was conducted to quantify GHG emissions from PlaX Spun and PlaX towel products. As the global mass production system has advanced, we will conduct a new LCA analysis to assess emissions within the updated supply chain. Based on global research reports, we have analyzed the impact of using food-grade sugar on food security and clarified our current stance. Moving forward, we will explore alternatives, including non-food-grade sugar and the potential transition away from food crops, while sharing insights both internally and externally. (See page 28 for details.) Developing and Promoting Partnership Guidelines Visualizing GHG Emissions Through LCA Conducting a Desktop Study on Food Security Assessing and Visualizing Social and Environmental Risks in the PlaX Supply Chain Establishing a Collaborative Framework Based on Partnership DevelopmentGuidelines (with a goal of over 90% adherence) Conducting Human Rights Due Diligence and Establishing an Improvement Cycle Based on Human Rights Guidelines TARGET 2030 Goals PROGRESS as of March 2025

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Progress Report 2025 28 Introduction Our Vision Our Approach Progress 3-3 Commitment to Sustainable Raw Material Sourcing Percentage of Thailand’ s total farmland allocated to sugarcane cultivation for PLA production Share of Thailand’ s total raw sugar production used for PLA manufacturing Source：TOTALENERGIES CORBION 「PLANTING THE FUTURE WITH PLA」(2023) Minimal Impact on Food Security at Present Future Risks of Increased Biomass Demand 9.46 9.24 4.69 1.72 Wheat Corn Sugar Beet Sugar Cane unit : t/ha Reference Data : Production Eﬃciency of Major Edible Biomass Feedstocks Among edible biomass sources used for raw material production, sugarcane stands out for its eﬃcient land utilization, making it an advantageous choice. Source：lfBB (��) 2018 2030 2040 2050 Bioplastics Biofuels 2020 106.9 million tons 203.6 million tons 4 million tons 135 million tons Expansion on Global Food Security”, the demand for biofuels ( such as bioethanol and biodiesel ) and bioplastics, including PLA, is projected to increase significantly in the future. Although there is currently no critical risk to food security, the potential for greater impact cannot be ignored. Source：Yosuke Munesue、Toshihiko Masui「Long-Term Assessment of the Impact of Bioplastics」(��)、Textile Exchange「The Sustainability of Biosynthetics」 As the global population continues to grow, food demand is expected to rise significantly. At the same time, reducing environmental impact remains an urgent challenge in the fashion industry. Our approach to raw material sourcing prioritizes sustainability, ensuring that PlaX production minimizes its impact on food security while contributing to solving the industry's challenges. We continuously explore various options and possibilities to achieve this balance Recycling Used PlaX through Collection & Chemical Recycling > Achieved 90% lactide yield and 99.9% purity from collected PlaX, enabling the production of high-quality PLA. Evaluating the feasibility of non-food sugar-based PlaX in terms of cost, efficiency, and environmental impact. TARGET 2030 Goals 0.08％ Land Use Perspective 1.2% Food Production Perspective

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Progress Report 2025 31 Introduction Our Vision Our Approach Progress MASH Style Lab Co.,Ltd. Hisatake Iwaki Executive Officer Production Control Div. General Manager MASH Style Lab is the fashion business division of the MASH Group, which operates in various sectors, including fashion, beauty, food, design, and real estate. Mash Style Lab manages over 20 fashion brands, including "SNIDEL" and "gelato pique." Q1ɹWhat values and standards do you prioritize in your efforts to create environmentally and socially responsible products? A1 ɹThe most important goal for our company is to reduce CO₂ emissions within our supply chain and minimize environmental impact. Our ultimate aim is to achieve carbon neutrality and contribute to curbing global warming. To realize this goal, we are currently working to visualize the environmental impact (CO₂ emissions based on LCA analysis) of each product across the fashion brands we operate. Q2 ɹHow do you feel PlaX’ s characteristics (environmental performance, texture, functionality, etc.) align with your company's initiatives? Also, could you share any standout features or attractive qualities you have experienced with PlaX? A2ɹ We find the fact that PlaX is supported by LCA-based evidence of its environmental impact and guarantees traceability to be highly attractive. This aligns perfectly with our initiative to visualize CO₂ emissions. We are very grateful for the opportunity to engage in such an advanced initiative together, as we believe this will become essential in the future. Additionally, the texture of the material has noticeably improved, allowing us to create products without compromising their design or quality despite using an environmentally conscious material. Q3ɹWhat are the future prospects and challenges in your collaboration with Bioworks? A3 ɹGoing forward, the key challenge will be figuring out how to reduce the emissions that we have successfully visualized. Specifically, it will be important to track energy usage at each stage of material production and product manufacturing, adopt renewable energy and energy-saving measures, and develop initiatives that cover the product's entire lifecycle—from the customer's use to disposal. Q4ɹWhat kind of future do you hope to realize through your partnership with Bioworks? Do you have any expectations for Bioworks or a message for future collaboration? A4ɹ Our group slogan, "Wellness Design," reflects our commitment to creating smiles for all people involved, starting with our customers. We aim to embody this policy by working with Bioworks to protect the smiles of future generations through sustainable choices. By actively adopting and commercializing the more environmentally friendly materials developed by Bioworks, we hope to take steady steps toward a better future. Partners Voice MASH Style Lab Co., Ltd. – A company promoting "Wellness Design" in its business initiatives

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Progress Report 2025 32 Introduction Our Vision Our Approach Progress TAKISADA-NAGOYA CO.,LTD. Akihiko Kochi Acting General Manager, Women's Apparel Fabrics Department Manager, Women's Apparel Fabrics Section 89 / Head, Women's Apparel Fabrics Sales Promotion Office / PlaX TF Leader Takisada Nagoya Co.,Ltd. is a specialized textile trading company with a history of over 150 years. The company handles everything from raw materials and textiles to apparel products, providing end-to-end solutions that include planning, development, sourcing, production, and sales across various textile categories. Q1 What values and standards do you prioritize in your efforts to create environmentally and socially responsible products? A1 　We place the highest priority on "product quality stability." We focus on creating products that our business partners can confidently use and ensuring a stable supply to fulfill our supply responsibility to the market. Q2 　How do you feel PlaX’ s characteristics (environmental performance, texture, functionality, etc.) align with your company's initiatives? Also, could you share any standout features or attractive qualities you have experienced with PlaX? A2　 The fact that PlaX has demonstrated antibacterial, deodorizing, and mildly acidic properties with actual data makes it appealing not only for its reduced environmental impact but also as a skin-friendly material. During a trade show event, I wore a PlaX T-shirt for three consecutive days and was able to maintain comfortable wear throughout, which reaffirmed the high functional qualities of this material. Q3ɹWhat are the future prospects and challenges in your collaboration with Bioworks? A3 ɹWe have been co-exhibiting at overseas trade shows, which has increased opportunities to attract interest. However, we have noticed that the lead time to adoption is longer than expected. We believe it will be necessary to analyze the challenges, address them accordingly, and make adjustments, including pricing. Q4ɹWhat kind of future do you hope to realize through your partnership with Bioworks? Do you have any expectations for Bioworks or a message for future collaboration? A4ɹ For spun yarn, we hope to replace materials used in inner wear and other skin-contact items with PlaX. To achieve this, we expect further improvements in material properties and pricing. For filament yarn, we hope to see Bioworks push the limits of durability, heat resistance, and fastness. Partners Voice Takisada-Nagoya Co., Ltd. – Development and sales partner for PlaX textiles

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