February 27, 2023

Changes of Directors, Auditors and Executive Officers
Tokyo – MOL Drybulk Ltd. (MOLDB; President & CEO: Kazuhiko Kikuchi) today announced that it has decided on thefollowing changes to its Directors, Auditors and Executive Officers. The changes of Directors and Auditors are subject toapproval at the Annual Shareholders’ Meeting to be held on March 31, 2023.

1.

Changes of Directors and Executive Officers: April 1, 2023

1) Changes of Executive Officers/Group Executive Officers(1) Promoted Executive Officers
NameNewManabu Hasumi
Managing Executive OfficerPresentExecutive Officer(2) Newly appointed Executive Officers
NameNew
Terumi Moriguchi
Managing Executive Officer
Junji Sakuma

Present
General Manager of Marine TechnicalManagement Division, Mitsui O.S.K. Lines, Ltd.
General Manager of Carbon Power Solutions
Unit, Mitsui O.S.K. Lines, Ltd.

Executive Officer(3) Retiring Executive Officers: March 31, 2023
Name
New: As of April 1, 2023
(To be announced)
Masatoshi Nakajima
Yukie Kakishima
Shinichi Asahina

PresentVice President
Senior Managing Executive Officer
Adviser
Director, Managing Executive Officer
General Manager of Energy Business Executive Officer
Strategy Division, Mitsui O.S.K. Lines, Ltd.

2) Executive Officers and their Responsibilities on and after April 1, 2023
Executive Officer
Title
President,
Chief Executive Officer
Managing
Executive Officer

Name
Kazuhiko Kikuchi

Responsibilities
Overall management
Chief Operating Officer,
Responsible for;Wood Chip Carrier Division,
General Manager of Wood Chip Carrier Division
Responsible for Drybulk Asia/Oceania Trade Division
Supervisor for Multi-Purpose Vessels Division, Project Cargo
Division, Drybulk Global Trade Division

Manabu Hasumi

Managing
Executive Officer

Koji Hemmi

Managing
Executive Officer
Managing
Executive Officer

Terumi MoriguchiResponsible for Ship Engineering Division, Marine Safety &Supervising Division

Jun Hoshino

Responsible for Corporate Planning Division, Internal audit,
Human Resources & Administration Division, Finance &Accounting Division,
Secondarily Responsible for;
Ship Engineering Division
1Executive Officer

Yu Sakamoto

Responsible for Steel Cargo Division

Executive Officer

Hiroshi Sudo

Executive Officer

Junji Sakuma

Responsible for Multi-Purpose Vessels Division,
Project Cargo Division, Business Planning Division
Responsible for Drybulk Global Trade Division,
General Manager of Drybulk Global Trade Division

3) Executive Officers and their Responsibilities on and after April 1, 2023
Executive Officer
Title
President,
Chief Executive Officer
Managing
Executive Officer

2.

Name
Kazuhiko Kikuchi

Responsibilities
Overall management
Chief Operating Officer,
Responsible for;Wood Chip Carrier Division,
General Manager of Wood Chip Carrier Division
Responsible for Drybulk Asia/Oceania Trade Division
Supervisor for Multi-Purpose Vessels Division, Project CargoDivision, Drybulk Global Trade Division
Responsible for Ship Engineering Division, Marine Safety &Supervising Division
Responsible for Corporate Planning Division, Internal audit,
Human Resources & Administration Division, Finance &Accounting Division,
Secondarily Responsible for;
Ship Engineering Division
Responsible for Steel Cargo Division
Responsible for Multi-Purpose Vessels Division,
Project Cargo Division, Business Planning Division
Responsible for Drybulk Global Trade Division,
General Manager of Drybulk Global Trade Division

Manabu Hasumi

Managing
Executive Officer

Koji Hemmi

Managing
Executive Officer
Managing
Executive Officer

Terumi Moriguchi

Executive Officer
Executive Officer

Yu Sakamoto
Hiroshi Sudo

Executive Officer

Junji Sakuma

Jun Hoshino

Changes of Directors and Auditors : June 20, 2023

1)
Changes of Directors(1) Newly appointed Director(Scheduled to be discussed at the Annual Shareholders’ Meeting to be held on March 31,2023)
Name
New
Present : As of March 31, 2023
Manabu Hasumi
Director
Executive Officer
Jun Hoshino
Director
Managing Executive Officer
Masayuki Sugiyama
Outside Director
General Manager of Wind Power Projects Unit, Mitsui
O.S.K. Lines, Ltd.
Hiroyoshi Kubo
Outside Director
General Manager of Iron Ore and Coal carrier Division,
Mitsui O.S.K. Lines, Ltd.
Toshiaki Fukui
Outside Director
General Manager of Corporate Planning Division2(2) Retiring of Director (March 31, 2023)
Name
Present : As of March 31, 2023
Masatoshi Nakajima
Representative Director, Vice PresidentYukie Kakishima
Director
Outside Director
Hirofumi Kuwata
Toshiyuki Katagiri
Outside Director
2) Changes of Auditors(1) Newly appointed Auditor(Scheduled to be discussed at the Annual Shareholders’ Meeting to be held on March 31,2023)
NameNew
Kentaro Ayai
Audit & Supervisory Board Member
3)

Directors and Auditors on April 1, 2023
After April 1, 2023
Directors
Title
Representative Director, President,
Chief Executive Officer
Director, Chief Operating Officer
Director
Director
Outside Director
Outside Director
Outside Director
Audit & Supervisory Board Members
Title
Audit & Supervisory Board Member
Audit & Supervisory Board Member
Outside Audit & Supervisory Board Member
Outside Audit & Supervisory Board Member

Name
Kazuhiko Kikuchi
Manabu Hasumi
Terumi Moriguchi
Jun Hoshino
Masayuki Sugiyama
Hiroyoshi Kubo
Toshiaki Fukui

NameToshiyuki Nigo
Kentaro Ayai
Kazutaka Shida
Takeo Gomi

3.
Change of Organization : April 1, 20231) The outline of Organizational change
To ensure faster decision-making, “Strategic Sales Enhancement Unit” will be abolished.
All business divisions will be under the direct control of the Management Committee.

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