Oct 31st, 2023
To whom it may concern:
Corporate Name: Mitsui O.S.K. Lines, Ltd.
Representative: Takeshi Hashimoto,President and Chief Executive Officer
Security Code: 9104
Listings: Tokyo Stock Exchange Prime Market
Contact: Sanae Sonoda, General Manager,
Corporate Communication Division(TEL: +81 3 3587 6224）

Announcement of Differences between Non-consolidated Business Forecasts and Results (SecondQuarter (cumulative)), Revision of Non-consolidated Business Forecasts (Full Year), and Revision ofDividend Forecast (Full Year) for Fiscal Year 2023

TOKYO—Mitsui O.S.K. Lines, Ltd. (the Company; President & CEO: Takeshi Hashimoto) hereby announces
the differences between its non-consolidated business forecasts and results (second quarter (cumulative)),
revision of non-consolidated business forecasts (full year), and revision of dividend forecast (full year) for thefiscal year 2023.
Details of the announcement are as follows.

1. Non-consolidated Business Results and Forecasts(1) Non-consolidated business results for the second quarter (cumulative) of the fiscal year 2023.
(April 1st, 2023 to September 30th, 2023)
Revenue
Previous forecasts onApril 28th, 2023 (A)Results (B)Change (B-A)
Change (%)¥ million
375,000
402,990
27,990
7.5%

Operating profit

Ordinary profit¥ million
22,00017,574(4,426)(20.1%)¥ million
115,000
186,403
71,40362.0%

Net income¥ million
130,000
166,527
36,52728.1%(2) Non-consolidated business forecasts for the full fiscal year 2023
(April 1st, 2023 to March 31st, 2024)
Revenue
Previous forecasts on
April 28th, 2023 (A)Revised forecasts (B)Change (B-A)
Change (%)(Ref) Previous fiscal year’s
results (Year ended March31st, 2023)¥ million
730,000
790,000
60,0008.2%
821,375

Operating profit

Ordinary profit¥ million
50,00040,000(10,000)(20.0%)
61,705¥ million
150,000
230,000
80,00053.3%
469,984

Net income*¥ million
160,000
230,000
70,00043.8%
462,022

(3) Reason
Due to increased dividend income from the consolidated subsidiaries, non-consolidated subsidiaries, andequity method affiliates, the ordinary profit and net income have become larger than the previous forecasts.
Non-consolidated business forecasts have been also revised due to the same reason.

2. Interim Dividend and Year-end Dividend Forecast(1) Interim dividend
Decided amount
Record dateAmount of dividend per share
Total amount of dividend
Effective date
Dividend resource

September 30th,2023¥110.00

Latest dividend
forecast(as of July 31st, 2023)
September 30th,2023¥110.00-Previous fiscal year’s
results
September 30th,2022¥300.00¥39,823 million
November 27th,
2023
Retained earnings-¥108,387 million
November 28th,
2022
Retained earnings

Q2-endAnnual Dividend
Year-endTotal¥110.00¥70.00¥180.00¥80.00¥190.00¥260.00¥560.00-(2) Dividend forecast (year-end)

Previous forecast
on July 31st, 2023
Revised forecast
Decided amount(Ref.) Previous fiscal year’s results¥110.00¥300.00(Year ended March 31st, 2023)(3) Reason
In light of the revised earnings forecast separately announced today, the Company has revised its forecast forthe year-end dividend from the previous forecast of ¥70.00 to ¥80.00 per share. This will make the annual
dividend ¥190.00 per share. The year-end dividend will be officially approved at the General Meeting ofShareholders to be held in June next year.

(Note)The above forecasts have been prepared based on information available as of the date ofannouncement of this material, and actual results may differ from the forecasts due to various factors inthe future.
End[REFERENCE PURPOSE ONLY]This document has been translated from the Japanese original for reference purposes only.
In case of any discrepancy or inconsistency between this document and the Japanese original, the latter shallprevail.