NEWSLETTERMay 7, 2024
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）

Kawasaki Kisen Kaisha, Ltd. (“K” LINE) resolved to repurchase its stock in accordance withArticle 156 of the Companies Act of Japan, as applied pursuant to paragraph 3 of Article 165 of
the Companies Act of Japan, at the meeting of the Board of Directors held on May 7, 2024.
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 lower limit of the total amount of shareholder returns from at least 500.0 billion yen to atleast 700.0 billion yen. For fiscal year 2024 and beyond, we plan to implement an additional
return of 150.0 billion yen in addition to the basic dividend and additional dividend. Considering
the scale of this additional shareholder’s return, the Company has determined that the best way
to do this will be to perform a share buyback capped at 100.0 billion yen. 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 four major shareholders, Effissimo Capital Management Pte Ltd. (hereinafterreferred to as “Effissimo”), Mizuho Bank, Ltd. (hereinafter referred to as “MHBK”), Tokio Marine& Nichido Fire Insurance Co., Ltd. (hereinafter referred to as “TMNF”) and Kawasaki HeavyIndustries, Ltd. (hereinafter referred to as “KHI”) to seek their participation in the share buybacktransaction. After making our request regarding “K” LINE’s plan to buy back as disclosed in thistimely disclosure, we confirmed Effissimo’s, MHBK’s, TMNF’s and KHI’s intention to sell their “K”
LINE stock in quantities roughly corresponding to their respective holding ratios at present(percentages of shares, etc. held) with respect to the total number of “K” LINE shares to beacquired by the Company. (In the case of Effissimo, this includes stock held through the fund itmanages.)
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, MHBK, TMNF and KHI theopportunity to sell their shares back to the Company on the stock exchange. Therefore, we havealso 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NEWSLETTER

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 39,556,000 shares(5.5% of the total number of shares of common stock outstanding excluding treasurystock)(3) Total amount: Up to 100,000,000,000 yen(4) Period: From May 8, 2024 to July 31, 2024
(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 of May
8, to 14, 2024. “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 39,556,000
shares
(5.5% of the total number of shares of common stock outstanding excludingtreasury stock)③ Total amount: Up to 100,000,000,000 yen④ Planned Period: during the period of May 8, 2024 to May 14, 2024
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 markettrends 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 StockExchange” reach neither the maximum total number of shares (39,556,000 shares) nor themaximum total acquisition value of shares (100,000,000,000 yen) specified in section “2.
Details of repurchase”, after the implementation date of the transaction, we plan to continue

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

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 Apr 30, 2024
Number of outstanding shares excluding treasury stock: 713,616,435
Number of shares of treasury stock: 1,111,632

For further information, please contact:
Masaya Futakuchi
General Manager, General Affairs Group
Tel: +81-3-3595-5061
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 Communication Group