(Translation)

August 9, 2024
Company name:Name of representative:

Riken Vitamin Co., Ltd.
Kazuhiko Yamaki
President and Representative Director(Securities code: 4526; Tokyo Stock
Exchange Prime Market)
Yuichi Nakagawa
General Manager of Corporate Planning
Department, Chief Manager of Corporate
Planning Division(Tel: 03-5362-1315)

Inquiries:

Notice Regarding Disposal of Treasury Shares through Third-Party Allotment
Riken Vitamin Co., Ltd. (the “Company”) hereby announces that its Board of Directors, at a meeting
held today, resolved to dispose of treasury shares through a third-party allotment (the “Treasury ShareDisposal”).
1. Overview of Treasury Share Disposal(1) Date of disposal

August 30, 2024

(2) Class and number ofshares to be disposed of37,100 common stock(3) Disposal price

2,511 yen per share(4) Total disposal amount

93,158,100 yen(5) Disposal recipient

The Master Trust Bank of Japan, Ltd.
(Stock Grant ESOP Trust Account)(6) Other

The written notice of securities under the Financial Instruments
and Exchange Act has been submitted for the Treasury Share
Disposal.

2. Purpose and Reason for Disposal
The Company resolved at the Board of Directors meeting held on August 9, 2024 to continue theStock Grant ESOP Trust (the “ESOP Trust”) for Executive Officers with the aim of motivating themto contribute to improving the Company’s medium- to long-term performance and increasing its
corporate value.
For an overview of the ESOP Trust, please refer to the “Notice regarding the continuation of andadditional contributions to the performance-linked share-based remuneration system for directors
and incentive plan for executive officers” released on August 9, 2024 (available in Japanese only).
The Treasury Share Disposal will be conducted through third-party allotment to The Master Trust
Bank of Japan Ltd. (Stock Grant ESOP Trust Account), which is the co-trustee of the ESOP Trust
Agreement (the “Trust Agreement”) entered into by the Company with Mitsubishi UFJ Trust andBanking Corporation, in connection with additional monetary contributions to the ESOP Trust.
The number of shares to be disposed of equals the number of shares expected to be delivered toExecutive Officers during the trust period in accordance with the Company’s Share Delivery
Regulations, and the scale of dilution is 0.11% (rounded off to two decimal places, and 0.12% ofthe total number of voting rights as of March 31, 2024, which is 305,002) against the total numberof issued shares of 33,705,100 as of March 31, 2024.

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The shares of the Company allotted through the Treasury Share Disposal will be delivered toExecutive Officers in accordance with the Share Delivery Regulations, and it is not expected thatthe shares from the Treasury Share Disposal will flow into the stock market all at once, so theimpact on the secondary market is expected to be minimal, and the number of shares disposed ofand the scale of dilution are deemed to be reasonable.
[Overview of Trust Agreement】
Type of trust

Money trust other than a specified money trust for separate
investment (third-party benefit trust)

Purpose of trust

To grant incentives to Executive Officers

Trustor

The CompanyTrustee

Mitsubishi UFJ Trust and Banking Corporation(Co-trustee: The Master Trust Bank of Japan, Ltd.)

Beneficiaries

Executive Officers who fulfill beneficiary requirements

Trustadministrator

A third-party specialist with no conflict of interest with the Company(certified public accountant)

Date of trust
agreement

August 27, 2018 (scheduled to amend trust agreement in August2024）

Trust term

From August 27, 2018 to September 2024
(scheduled to be extended until September 2027 under a trust
agreement amended in August 2024)

Start of the plan

September 1, 2018

Exercise of votingrights

No voting rights will be exercised

3. Basis for calculating the disposal price and its specific details
The disposal price was determined at 2,511 yen, the closing price of the Company’s shares on theTokyo Stock Exchange (the “TSE”) on the business day immediately prior to the Board ofDirectors’ resolution regarding the Treasury Shares (August 8, 2024), in order to eliminate any
potential for arbitrariness in light of recent share price trends. The Company set the closing price ofits shares on the business day immediately prior to the resolution date of the Board of Directors
because this price represents the most recent market price and is deemed to be highly objective
and reasonable as a basis for calculation.
The Company’s Audit & Supervisory Committee has expressed the opinion that the said disposal
price is legitimate and not especially favorable.
4. Procedures under the Code of Corporate Conduct
The dilution of the shares in this matter is less than 25%, and there is no change in the controllingshareholder. Accordingly, it is not subject to requirements to opinion from an independent third
party or confirm the shareholders’ intentions, as stipulated in Article 432 of the Securities Listing
Regulations of the TSE.

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