ANNOUNCEMENT OF APPOINTMENT OF YHI (PHILIPPINES), INC., AS TOYO TIRE & RUBBER CO., LTD.'S EXCLUSIVE AUTHORIZED NITTO BRAND TIRE DISTRIBUTOR

TOYO TIRE & RUBBER CO., LTD. ("TOYO"), is pleased to announce that they have entered into a distribution agreement that will allow YHI (Philippines) Inc. ("YHI") to exclusively distribute NITTO branded tires in the Philippines. TOYO's YHI exclusive has authorized acted as distributor of the NITTO brand in the Philippines since July 2015. By virtue of such exclusive distributorship arrangement, only YHI is given authority to import tires bearing the NITTO trademark into the Philippines for sale and distribution. TOYO takes enforcement of its trademark rights and its dealership commitment very seriously, both to protect the NITTO brand, as well as to protect consumers. Unauthorized distributors who sell NITTO tires may be liable for tortious interference with third party contract. The sale of NITTO products through an unauthorized dis- tributor or dealer will void the warranty on the product and may create safety issues for consumers. Consumers in the Philippines are instructed to inquire with tire dealers at the point of sale to confirm that they are obtaining genuine NITTO products from NITTO's authorized distributor. YHI has a solid reputation for building brands in the Asian market and is a leader in distribution of quality tires. With YHI's dedicated sales network and over 40 years of experience, TOYO is confident the NITTO brand will be well represented in the Philippines. The NITTO brand has already gained strong popularity particularly in North America with the high added-value large-diameter tires. There are plans to expand sales and further develop the NITTO brand strategically in growth markets and build a global business structure.