Note: This document has been translated from the Japanese original for reference purposes only. In cases where any
differences occur between this document and the Japanese original, the Japanese original shall prevail. OSAKA SODA
CO., LTD., and/or its affiliates shall individually or jointly accept no responsibility or liability for damage or loss causedby any error, inaccuracy, misunderstanding, or changes with regards to this document.

Securities Code: 4046
June 9, 2023
To Shareholders with Voting Rights:
Kenshi Terada, President & CEOOSAKA SODA CO., LTD.
1-12-18, Awaza, Nishi-ku, Osaka, Japan

Notice of Convocation of the 168th Annual General Shareholders Meeting
We are pleased to inform you that the 168th Annual General Shareholders Meeting of OSAKA SODA CO.,LTD. (the “Company”) is scheduled to be held as described below.
When convening the General Shareholders Meeting, the Company has taken measures to provide
electronically the information that is the content of the reference documents for the General Shareholders
Meeting, etc. (matters to be provided electronically), and has posted the information on the Company's
website at the internet. Please access the following website to review the information.
The Company’s website (in Japanese only)
https://www.osaka-soda.co.jp/ja/ir/general_meeting.html
The matters to be provided electronically are posted on the website of the Tokyo Stock Exchange (TSE)in addition to the above website. Please access the following TSE website (TSE listed company informationservice), enter and search for the issue name (company name) or securities code, and select "BasicInformation" or "Documents for Public Inspection/PR Information" to review the information.
TSE website (TSE listed company information service) (in Japanese only)
https://www2.jpx.co.jp/tseHpFront/JJK010010Action.do?Show=Show
Instead of attending the General Shareholders Meeting, you can exercise your voting rights in writing orby electronic means (the Internet, etc.). Please review the Reference Documents for the Shareholders Meeting(in Japanese only) and exercise your voting rights by no later than 5:30 p.m. on Wednesday, June 28, 2023,
Japan Time.

Note: This document has been translated from the Japanese original for reference purposes only. In cases where any
differences occur between this document and the Japanese original, the Japanese original shall prevail. OSAKA SODA
CO., LTD., and/or its affiliates shall individually or jointly accept no responsibility or liability for damage or loss causedby any error, inaccuracy, misunderstanding, or changes with regards to this document.

1. Date and Time:Thursday, June 29, 2023, 10:00 a.m. (Japan Time)

2. Venue:

Room of Karin, 4th Floor, THE WESTIN OSAKA
1-1-20, Oyodo Naka, Kita-Ku, Osaka, Japan

3. Meeting Agenda:
Matters to be reported:

Matters to be resolved:
Proposal No. 1
Proposal No. 2

1.

The Business Report, Consolidated Financial Statements for the168th fiscal year (April 1, 2022, through March 31, 2023) andresults of audits by the Accounting Auditor and the Board of
Corporate Auditors of the Consolidated Financial Statements2.

Non-consolidated Financial Statements for the 168th fiscal year
(April 1, 2022, through March 31, 2023)

Election of Six (6) Directors
Continuation of the Policy toward Large-scale Acquisitions of theCompany's Shares (Takeover Defenses)

4. Matters Determined upon Convocation:(1) If a shareholder does not indicate either approval or disapproval of each Proposal when
exercising a voting right on the Document, such cases are treated as indications of approval.
(2) A shareholder who wishes to exercise its voting right by proxy may do so only by designating
one (1) other shareholder with a voting right. Please note, however, that the document
evidencing the proxy’s power of representation must be submitted.
(3) If a shareholder votes both on the Document and by the Internet, etc., only its vote placed by
the Internet, etc. will be valid.
(4) If a shareholder submits its vote multiple times by the Internet, etc. or if a shareholder submits
its vote multiple times by the Document, only the last vote will be valid in both cases.