As of October 6, 2026

• The above list is based on our standards and in accordance with information available to us at the time we posted this list.Consequently, the list may be missing some analyst names and there is a possibility that all of the information may not be up to date.
• The purpose of this list is solely to provide information on the analysts and their respective brokerage firms which provide analysis and forecasts of our company's business performance. Accordingly, this is not a solicitation to purchase or sell shares in Tokai Carbon. Investors are hereby requested to make their final investment decision based on their own judgment and responsibility.