Notice: This is a translation of the Notice of Resolution of the 182nd Ordinary General Meeting of Shareholders of Hankyu Hanshin Holdings, Inc.
and is made solely for the convenience of foreign shareholders. In the case of any discrepancy between the translation and the Japanese original,
the latter shall prevail.

[Translation]
Securities Code: 9042
June 17, 2020
To our shareholders

Kazuo Sumi, Chairman and Representative Director
Hankyu Hanshin Holdings, Inc.
1-1, Sakaemachi, Ikeda-shi, Osaka(Head Office: 1-16-1, Shibata, Kita-ku, Osaka-shi)

Notice of Resolution of the 182nd Ordinary General Meeting of Shareholders
We are pleased to notify you that the matters described below were reported and resolved at the 182nd
Ordinary General Meeting of Shareholders of the Company held today.

Particulars
Matters Reported:
1.

Report on the business report, consolidated financial statements and financial statements for the182nd fiscal year (April 1, 2019 to March 31, 2020)

The contents of the above-mentioned documents were reported.
2.

Report on the audit results of the consolidated financial statements for the 182nd fiscal year by theAccounting Auditors and the Audit & Supervisory Board

The contents of the above-mentioned audit results were reported.
Matters Resolved:
First Item of Business:

Appropriation of Retained Earnings
This item was approved and resolved as originally proposed, and thefinal dividends were decided to be 25 yen per share of common stock.
* As interim dividends of 25 yen per share of common stock weredistributed, annual dividends for the current fiscal year amount to 50
yen per share.

Second Item of Business: Partial Amendment to the Articles of Incorporation
This item was approved and resolved as originally proposed.
Outline of the amendments to the Article of Incorporation of theCompany is as follows:(1) in conjunction with the transition to a company with an Audit &Supervisory Committee, new provisions with respect to Directors
Who Are Audit & Supervisory Committee Members and the Audit& Supervisory Committee were established;(2) in conjunction with the transition to a company with an Audit &Supervisory Committee, provisions with respect to Audit &Supervisory Board Members and the Audit & Supervisory Board
were deleted; and(3) necessary adjustment in Article numbers in connection with theabove amendments was made.
Third Item of Business:

Election of Eight (8) Directors (Excluding Directors Who Are Audit &Supervisory Committee Members)This item was approved and resolved as originally proposed.
Reelected:

Kazuo Sumi, Takehiro Sugiyama, Masao Shin,
Noriyuki Inoue, Noriko Endo, Yoshishige Shimatani
and Naoya Araki,

Newly elected:

Yuki Tsuru* Noriyuki Inoue, Noriko Endo and Yuki Tsuru are External Directors.
Fourth Item of Business: Election of Three (3) Directors Who Are Audit & Supervisory
Committee Members
This item was approved and resolved as originally proposed.
Newly elected:

Masayoshi Ishibashi, Junzo Ishii and MichiariKomiyama* Junzo Ishii and Michiari Komiyama are External Directors Who Are
Audit & Supervisory Committee Members.
Fifth Item of Business:

Election of One (1) Substitute Director Who Is an Audit & Supervisory
Committee Member
This item was approved and resolved as originally proposed.
Newly elected:

Yuki Tsuru* Yuki Tsuru is External Director Who Is a Substitute Audit &Supervisory Committee Member
Sixth Item of Business:

Setting of the Amount of Compensation for Directors (Excluding
Directors Who Are Audit & Supervisory Committee Members)This item was approved and resolved as originally proposed, and it wasdecided to set the amount of compensation for Directors (excludingDirectors Who Are Audit & Supervisory Committee Members) at 30
million yen or less per month (including 5 million yen or less per month2for External Directors).
Seventh Item of Business: Setting of the Amount of Compensation for Directors Who Are Audit& Supervisory Committee Members
This item was approved and resolved as originally proposed, and it wasdecided to set the amount of compensation for Directors Who Are Audit& Supervisory Committee Members at 2 million yen or less per month.
Eighth Item of Business:Adoption of a Stock Compensation Plan for Directors (ExcludingDirectors Who Are Audit & Supervisory Committee Members)This item was approved and resolved as originally proposed, and it wasdecided to adopt a performance-based stock compensation plan forDirectors (Excluding Directors Who Are Audit & Supervisory
Committee Members) who hold a Chairman or President position of theCompany.
End of Document3