Kawasaki Kisen Kaisha : Notification of Share Buyback through Off-Auction Own Share Repurchase Trading (ToSTNeT-3)

N E W S L E T T E R

May 8, 2024

Notification of Share Buyback through

Off-Auction Own Share Repurchase Trading (ToSTNeT-3)

At the meeting of the Board of Directors held on May 7, 2024, Kawasaki Kisen Kaisha, Ltd. ("K" LINE) resolved to repurchase its stock in accordance with Article 156 of the Companies Act of Japan, as applied pursuant to paragraph 3 of Article 165 of the Companies Act of Japan. "K" LINE hereby announces that it has decided on a specific method to repurchase its own stock. Details are as follows:

1. Acquisition method

"K" LINE will instruct its agent to purchase its own shares on the Tokyo Stock Exchange through off-auction own share repurchase trading (ToSTNeT-3) at 8:45 a.m. on May 9, 2024 at today's (May 8, 2024) closing price 2,194.5 yen per share. The purchase orders shall be limited to this trading time.

2. Details of the acquisition

• Class of share: Common stock of "K" LINE

• Total number of shares of common stock to be repurchased: Up to 39,556,000 shares

• Total amount to be repurchased: Up to 86,805,642,000 yen
  ④ Acquisition date: May 9, 2024

• Announcement of the result of acquisition: The result of the acquisition will be announced after the completion of trading at 8:45 a.m. on May 9, 2024

（Note１） No change shall be made to the number of shares. There is a possibility that a portion or all of the acquisition will be cancelled depending on market trends and other factors.

（Note２） The purchase will be made with sell orders corresponding to the number of shares to be acquired.

3. Auction market on Tokyo Stock Exchange

If the total number of shares and total amount to be acquired by the transaction reach neither the maximum total number of shares (39,556,000 shares) nor the maximum total acquisition value of shares (100,000,000,000 yen) specified in section [Reference] as below, after the implementation date of the transaction, we plan to continue acquiring "K" LINE stock on the Tokyo Stock Exchange, up to the total maximum number and value concerned during the acquisition period specified in section [Reference] as below.

N E W S L E T T E R

4. Others

"K" LINE confirmed four major shareholders, Effissimo Capital Management Pte Ltd. (hereinafter referred to as "Effissimo"), Mizuho Bank, Ltd., Tokio Marine & Nichido Fire Insurance Co., Ltd. and Kawasaki Heavy Industries, Ltd. intention to sell their "K" LINE stock in quantities roughly corresponding to their respective holding ratios as of May 7, 2024 (percentages of shares, etc. held) with respect to the total number of "K" LINE shares to be acquired by the Company specified in section [Reference] as below. (In the case of Effissimo, this includes stock held through the fund it manages.)

[Reference]

Details of stock repurchase resolved at the meeting of the Board of Directors (disclosed on May 7, 2024)

1. Class of share: Common stock of "K" LINE
2. Total number of shares of common stock to be repurchased: Up to 39,556,000 shares
   (5.5% of the total number of shares of common stock outstanding excluding treasury stock)
3. Total amount: Up to 100,000,000,000 yen
4. Period: From May 8, 2024 to July 31, 2024
5. Repurchase method: Purchase on the Tokyo Stock Exchange through off-auction own share repurchase trading (ToSTNeT-3) and Auction market on Tokyo Stock Exchange

For further information, please contact:

Masaya Futakuchi

General Manager, General Affairs Group

Tel: +81-3-3595-5061

Kawasaki Kisen Kaisha, Ltd. ("K" LINE)

"K" LINE's website URL:https://www.kline.co.jp/en/index.html

Note: The forecasts of financial results set forth in this document were calculated based on available information at the time of announcement. Actual results may differ from the forecast depending on various factors such as future developments in the business environment.