Regarding serious misconduct by Nissan Chairman and one representative director

The investigation showed that over many years bothGhosn and Kelly have been reporting compensation amounts in the Tokyo StockExchange securities report that were less than the actual amount, in order toreduce the disclosed amount of Carlos Ghosn’s compensation.

Also, in regards to Ghosn, numerous othersignificant acts of misconduct have been uncovered, such as personal use of companyassets, and Kelly’s deep involvement has also been confirmed.

Nissan has been providing information to the JapanesePublic Prosecutors Office and has been fully cooperating with theirinvestigation. We will continue to doso.

As the misconduct uncovered through our internalinvestigation constitutes clear violations of the duty of care as directors, Nissan’sChief Executive Officer Hiroto Saikawa will propose to the Nissan Board ofDirectors to promptly remove Ghosn from his positions as Chairman andRepresentative Director. Saikawa willalso propose the removal of Greg Kelly from his position as RepresentativeDirector.

Nissan deeply apologizes for causing great concernto our shareholders and stakeholders. We will continue our work to identify ourgovernance and compliance issues, and to take appropriate measures.