Note: This document has been translated from the Japanese original FOR REFERENCE PURPOSES ONLY.
In the event of any discrepancy between this translated document and the Japanese original, THE ORIGINALSHALL PREVAIL.

(Securities Code: 3864)
June 28, 2022
To Our Shareholders
Ryuichi Kisaka
President and Chief Executive Officer
Mitsubishi Paper Mills Ltd.
2-10-14 Ryogoku, Sumida-ku, Tokyo, Japan

Notice of Resolutions of the 157th Ordinary General Meeting of Shareholders
We would like to express our appreciation for your continued support and patronage.
We hereby inform you that the 157th Ordinary General Meeting of Shareholders of Mitsubishi Paper Mills Ltd. (hereinafter“MPM”) was held as follows and all four matters for resolution were approved as originally proposed by a vast majority ofvotes of participating shareholders, including votes cast by mail and via the Internet.

Matters to be reported: 1. The Business Report, the Consolidated Financial Statements and the results of audits of theConsolidated Financial Statements by the Independent Auditor and the Audit and Supervisory
Board for the 157th Business Term (from April 1, 2021 to March 31, 2022)
The matters listed above were reported.
2. Non-Consolidated Financial Statements for the 157th Business Term (from April 1, 2021 toMarch 31, 2022)
The matters listed above were reported.
Proposals to be resolved:
Proposal No. 1: Partial Amendment to the Articles of Incorporation
This proposal was resolved as originally proposed, and we made the changes to the Articles ofIncorporation in preparation for the introduction of a system for providing reference material for theGeneral Meeting of Shareholders in electronic format.
Proposal No. 2: Election of Eight (8) Directors
This proposal was resolved as originally proposed. Five (5) Directors, Mr. Shigeharu Sanada, Mr.
Nobuhiro Sato, Mr. Kunio Suzuki, Mr. Somitsu Takehara, Mr. Yoshihiro Kataoka, were re-elected. And
three (3) Directors, Mr. Ryuichi Kisaka, Mr. Shigeji Matsuzawa, Mr. Kazunori Shinohara, were newly
elected.
Proposal No. 3: Election of One (1) Substitute Audit & Supervisory Board Member
This proposal was resolved as originally proposed. Mr. Akito Takahashi was newly elected as Substitute
Audit & Supervisory Board Member.
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Proposal No. 4: Partial Amendments to the Response Policies on Large-Scale Purchases of MPM’s Shares(Takeover Defense Measures) and Continuance ThereofThis proposal was resolved as originally proposed, and we continue after making necessary amendments
to the previous Response Policies on Large-Scale Purchases of MPM’s shares (takeover defensemeasures).
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At the Board of Directors meeting held after the Ordinary General Meeting of Shareholders, Representaive Directors,President and Chief Executive Officer were appointed and Executive Officers were elected.
The respective position of the Directors, Audit & Supervisory Board Members, and Executive Officers as of June 28, 2022
are as follows:( Directors )President ( Representative Director )Ryuichi Kisaka

Representative Director

Shigeharu SanadaDirector

Nobuhiro Sato

Director

Shigeji Matsuzawa

Director and Advisor

Kunio Suzuki

Outside Director

Somitsu Takehara

Outside Director

Yoshihiro Kataoka

Outside Director

Kazunori Shinohara( Audit & Supervisory Board Members )Full-time Audit & Supervisory Board Member

Koichi Nakayama

Outside Audit & Supervisory Board Member

Hiroaki Tonooka

Outside Audit & Supervisory Board Member

Satoshi Takizawa( Executive Officers )* President, Executive Officer

Ryuichi Kisaka* Senior Executive Vice President

Shigeharu Sanada

Senior Managing Executive Officer

Kazuhiro Nakauchi* Managing Executive Officer

Nobuhiro Sato

* Managing Executive Officer

Shigeji Matsuzawa

Executive Officer

Teiji Ota

Executive Officer

Yuji Takagami

Executive Officer

Hiroaki Kobayashi

Executive Officer

Takao Fujiura

Executive Officer

Hironori Oikawa

Executive Officer

Hiroshi Mohara

Executive Officer

Kunihiro Nakagawa

Executive Officer

Ikuo Fujita

Executive Officer

Ryuki Fuchiwaki

Executive Officer

Fujitaka Mizushima

Executive Officer

Tsukada_hidetaka* Executive Officers with an asterisk concurrently serve as a Director.

3Policy regarding decisions on dividends of surplus, etc.
Under Article 459 of the Companies Act, the Articles of Incorporation stipulate that dividends of surplus, etc. shall be
paid by resolution of the Board of Directors. The MPM’s basic policy regarding dividends of surplus and the like is to regard
the distribution of profits to shareholders as a key management issue and maintain stable dividends while comprehensively
considering business performance in each business year and internal reserves necessary to prepare for future management
initiatives. As a result of a comprehensive review of recent performance trends, We regret to inform you that it has decided
not to pay a dividend for the current fiscal year.
We will work to recover our business performance and resume dividends of surplus.

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