NEWSLETTER

August 2, 2023
Notification of Stock Repurchase and Share Buyback through
Off-Auction Own Share Repurchase Trading (ToSTNeT-3)（Stock Repurchase and Share Buyback through Off-Auction Own Share Repurchase Trading (ToSTNeT-3)
in accordance with the paragraph 2 of Article 165 of the Companies Act of Japan）

At the meeting of the Board of Directors held on August 2, 2023, Kawasaki Kisen Kaisha, Ltd.
(“K” LINE) resolved to repurchase its stock in accordance with Article 156 of the Companies Actof Japan, as applied pursuant to paragraph 3 of Article 165 of the Companies Act of Japan.
Details of the repurchase are as follows:
1. Purpose of stock repurchase:“K” LINE is always conscious of capital efficiency. Our basic policy is to improve shareholder
profits over the medium and long terms by proactively promoting shareholder returns, including
share buyback. This is done by taking cash flow into consideration and ensuring the investment
level and financial stability necessary to improve our corporate value. Furthermore, in five-year
medium-term management plan for the fiscal year 2022 to the fiscal year 2026, we have raised
the planned total return amount to shareholders from the original range of 400.0 billion to 500.0
billion yen to a minimum of 500.0 billion yen. For the fiscal year 2023, we have announced ourintention to provide additional returns of at least 50.0 billion yen, in addition to ordinary dividend
and additional dividend. Considering the scale of this additional shareholder’s return for the fiscalyear 2023, the Company has determined that the best way to do this will be to perform a sharebuyback for the entire amount. The buyback will be implemented based on these policies.
In light of the potential impact on the stock liquidity and market price for our shares, weapproached three major shareholders, Effissimo Capital Management Pte Ltd. (hereinafterreferred to as “Effissimo”), Kawasaki Heavy Industries, Ltd. (hereinafter referred to as “KHI”)
and Mizuho Bank, Ltd. (hereinafter referred to as “MHBK”), to seek their participation in theshare buyback transaction. After making our request regarding “K” LINE’s plan to buy back as
disclosed in this timely disclosure, we confirmed Effissimo’s, KHI’s and MHBK’s intention to sell
their “K” LINE stock in quantities roughly corresponding to their respective holding ratios atpresent (percentages of shares, etc. held) with respect to the total number of “K” LINE shares
to be acquired by the Company. (In the case of Effissimo, this includes stock held through thefund it manages.)
This arrangement should mitigate the potential impact on the stock liquidity and market stock
price of “K” LINE to some extent. We have also determined that it would be beneficial for usand our shareholders to give shareholders other than Effissimo, KHI and MHBK the opportunity
to sell their shares back to the Company on the stock exchange. Therefore, we have also decided
to acquire “K” LINE stock as follows.

KAWASAKI KISEN KAISHA, LTD.
ｻｽﾃﾅﾋﾞﾘﾃｨ・環境経営推進・IR・広報ｸﾞﾙｰﾌﾟ

Corporate Sustainability, Environment
Management, IR and Communication
Group

NEWS

LETTER

2. Details of repurchase:(1) Class of share: Common stock of “K” LINE
(2) Total number of shares of common stock to be repurchased: Up to 11,676,000 shares(4.7% of the total number of shares of common stock outstanding excluding treasurystock)(3) Total amount: Up to 60,000,000,000 yen(4) Period: From August 3, 2023 to Oct 31, 2023
(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
3. Off-Auction Own Share Repurchase Trading (ToSTNeT-3) on Tokyo Stock Exchange(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) during the period ofAugust 3, to 9, 2023. “K” LINE will release another notice once we determine the details.
(2) Details of repurchase (ToSTNeT-3)① Class of share: Common stock of “K” LINE
② Total number of shares of common stock to be repurchased: Up to 11,676,000
shares
(4.7% of the total number of shares of common stock outstanding excludingtreasury stock)③ Total amount: Up to 60,000,000,000 yen④ Planned Period: during the period of August 3, 2023 to 9, 2023
⑤ Announcement of the result of acquisition: The result of the acquisition will beannounced after the completion of trading.
（Note１）No change shall be made to the number of shares. There is a possibility thata 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 ofshares to be acquired.
4. Auction market on Tokyo Stock Exchange
If the total number of shares and total amount to be acquired by the transaction specified in
section “3. Off-Auction Own Share Repurchase Trading (ToSTNeT-3) on Tokyo Stock
Exchange” reach neither the maximum total number of shares (11,676,000 shares) nor themaximum total acquisition value of shares (60,000,000,000 yen) specified in section “2.

KAWASAKI KISEN KAISHA, LTD.
ｻｽﾃﾅﾋﾞﾘﾃｨ・環境経営推進・IR・広報ｸﾞﾙｰﾌﾟ

Corporate Sustainability, Environment
Management, IR and Communication
GroupNEWSLETTER

Details of repurchase”, 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 andvalue concerned during the acquisition period specified in the abovementioned section 2.
5. Others
In principle, the shares to be repurchased will be cancelled.
[Reference]Status of treasury stock as of Jul 31, 2023
Number of outstanding shares excluding treasury stock: 248,643,456
Number of shares of treasury stock: 2,068,933

For further information, please contact:
Atsushi Takenoshita
General Manager, Corporate Planning Group
Tel: +81-3-3595-5594
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.

KAWASAKI KISEN KAISHA, LTD.
ｻｽﾃﾅﾋﾞﾘﾃｨ・環境経営推進・IR・広報ｸﾞﾙｰﾌﾟ

Corporate Sustainability, Environment
Management, IR and CommunicationGroup