Announcement of Appointment of Senior Advisors: Christopher Giancarlo, Former Chairman of the U.S. Commodity Futures Trading Commission, and RJ Cummings, Former Head of Development at Intercontinental Exchange (ICE)

enechain Inc. is pleased to announce that Christopher (Chris) Giancarlo, former Chairman of the U.S. Commodity Futures Trading Commission (CFTC), and RJ Cummings, a founding member and former Head of Development at Intercontinental Exchange (ICE), have been appointed as Senior Advisors to our company.

Background and Objectives

Electricity is a social infrastructure that supports the foundation of daily life and industry, and the ability to appropriately manage the risk of electricity price fluctuations is crucial for stable business activities and the overall economy. In Japan, since the full liberalization of electricity retail in 2016, wholesale electricity trading and related market functions have been gradually developing. On the other hand, in recent years, due to changes in the geopolitical and supply-demand environment, there have been periods of significant energy price volatility, increasing the importance of marketplace functions and tools that support risk management for energy market participants.

In Europe and the United States, energy market liberalization has progressed ahead of Japan, and practical principles such as transparency, fairness, market conduct, liquidity, and risk management have been accumulated over many years in commodity markets, including electricity and gas. For the further development of Japan's energy marketplace, it is important to incorporate these international practical insights, taking into account Japan's domestic market structure, regulatory environment, and participant needs.

Against this backdrop, enechain has welcomed Chris Giancarlo, who has extensive experience in international regulation, supervision, and policy formation in commodity and derivatives markets, as a Senior Strategy Advisor. He will provide ongoing strategic advice, focusing on enhancing our marketplace's voluntary market governance and compliance systems, based on his insights into global market and policy trends.

RJ Cummings, appointed as Senior Technology Advisor, is one of the founding members of ICE and, as Head of Development, contributed to the creation and expansion of world-class marketplace technology. He will advise on the development roadmap for our core marketplace, "eSquare Live," to evolve into a world-class platform for energy market participants.

[Comment from Chris Giancarlo]

Japan's energy market, with its scale and progress in liberalization, is one of the most important frontiers for building a transparent and sound commodity marketplace in Asia. enechain is building a fair, technology-driven marketplace infrastructure that supports better price discovery, risk management, and the energy transition. I look forward to advising the company's team on marketplace governance and compliance, as well as the broader strategic roadmap.

[Comment from RJ Cummings]

echain has an opportunity to build marketplace technology that can become essential infrastructure for energy market participants. I look forward to advising the company's team on the development of eSquare Live and supporting its evolution into a platform with the reliability, usability, and technical architecture required of world-class marketplace infrastructure.

[Comment from enechain Representative Director Nozawa]

We are extremely honored to welcome Mr. Giancarlo and Mr. Cummings as Senior Advisors. Mr. Giancarlo's deep knowledge of commodity markets and market supervision will be invaluable as we further strengthen our marketplace's governance and compliance systems. Furthermore, Mr. Cummings' experience in building and scaling the technology required for global marketplaces will play a crucial role in evolving our marketplace, eSquare Live, into a platform that can meet the needs of increasingly sophisticated energy trading. We believe their advice will be a significant asset in building a more transparent, resilient, and trusted energy marketplace in Japan.

[Biography of Chris Giancarlo]

13th Chairman of the U.S. Commodity Futures Trading Commission (CFTC). Described as "one of the most influential figures in financial regulation," he also served as a member of the U.S. Financial Stability Oversight Council (FSOC), the President's Working Group on Financial Markets, and the IOSCO Board. During his tenure as Chairman, he focused on improving transparency in commodity futures and derivatives markets, modernizing the regulatory framework, and balancing the protection of market participants with innovation. He also engaged in international policy recommendations and advisory activities concerning commodity markets, derivatives markets, and financial market infrastructure. Recognized for his expertise in the cryptocurrency financial field, he was awarded the Chevalier of the National Order of the Legion of Honour by French President Macron.

[Biography of RJ Cummings]

Joined the U.S. Intercontinental Exchange (ICE) as one of its founding members and served as Head of Development. During his tenure, he contributed to the design, development, and expansion of marketplace technology used by global market participants. He possesses extensive experience in building high-performance, reliable, and scalable technology that can handle complex markets. As enechain's Senior Technology Advisor, he will provide advice on the development roadmap for our core marketplace, "eSL (eSquare Live)."

echain will continue to strive towards creating larger and more convenient marketplaces that are open to everyone.