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 original shall prevail.

August 9, 2024

Notice Concerning Stock Split and Partial Amendment to the Articles of Incorporation andRevision of Dividend Forecast in Connection with Stock Split

At the Board of Directors meeting held on August 9, 2024, OSAKA SODA Co., Ltd. (the“Company”) resolved to carry out a stock split and partially amend its Articles ofIncorporation in connection with said stock split. The Company also hereby announces arevised dividend forecast for the fiscal year ending March 2025 due to the stock split.

1. Purpose of the stock split
The purpose of this stock split is to reduce the price per investment unit of theCompany’s shares, creating an environment in which it is easier to invest in our stock,further expanding our investor base and improving the liquidity of our shares.
2. Overview of the stock split(1) Split method
With Monday, September 30, 2024 as the record date, the Company will split thecommon stock held by shareholders listed or recorded on the final shareholder list forthat day at a ratio of 5 shares per share.
(2) Increase in the number of shares resulting from the split
Total number of issued shares before split

26,732,017

Increase in the number of shares resulting
from split

106,928,068

Total number of issued shares after split

133,660,085

Total number of authorized shares after split

300,000,000(3) Schedule for the split
Record date public notice

September 13, 2024 (planned)

Record date

September 30, 2024 (planned)

Effective date

October 1, 2024 (planned)(4) Change in the amount of stated capital
The amount of stated capital will not be changed due to this stock split.

3. Partial amendment to the Articles of Incorporation(1) Reason for change
In conjunction with this split, the total number of authorized shares under Article
5 of the Company’s Articles of Incorporation will be changed as of October 1, 2024
pursuant to the provision of Article 184, Paragraph 2 of the Companies Act of Japan.
(2) Details of amendment to the Articles of Incorporation(Amended locations are underlined)
Current Articles of Incorporation(TotalNumberArticles of Incorporation after changeof(TotalNumberofAuthorized Shares)

Authorized Shares)

Article 5

Article 5

The total number of the Company’s
authorized shares shall be 60,000,000shares.

The total number of the Company’s
authorized shares shall be 300,000,000shares.

(3) Schedule for amendment to the Articles of Incorporation
Effective date of amendment: Tuesday, October 1, 2024
4. Revision of dividend forecast
In conjunction with this split, the Company has revised the year-end dividend forecast
for the fiscal year ending March 2025, which was originally announced on May 10, 2024,
as follows. Since this revision is being made in connection with the stock split, there
will be no substantial change.
Dividend per shareFirst six months

End of year

Total

45.00 yen

50.00 yen

95.00 yen

10.00 yen(50.00 yen)(95.00 yen)

45.00 yen

90.00 yenPrevious forecast (before split)(Announced on May 10, 2024)
Revised forecast(Conversion before stock split)

45.00 yen

Results for the previous fiscal year
(Fiscal year ended March 2024)

45.00 yen

Note: The effective date of this stock split is October 1, 2024. Therefore, the dividend forthe first six months, ending September 30, 2024, will be based on the number ofshares before the stock split.