NEWSLETTER

August 4, 2023
Notification of Progress of Share Buyback through
Off-Auction Own Share Repurchase Trading (ToSTNeT-3)
Regarding the notification of stock repurchase disclosed on August 2, 2023, Kawasaki Kisen
Kaisha, Ltd. (“K” LINE) today reported and announced the progress of the share buyback
pursuant to the resolution above with the following details:
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 fiscal
year 2023, the Company has determined that the best way to do this will be to perform a sharebuyback for the entire amount. The share buyback was 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 the timely disclosure on August 2, 2023, 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 as of August 2, 2023 (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, thisincludes stock held through the fund it manages.)
This arrangement should mitigate the potential impact on the stock liquidity and market priceof “K” LINE’s shares to some extent. We have also determined that it would be beneficial for us
and our shareholders to give shareholders other than Effissimo, MHBK and KHI the opportunity
to sell their shares back to the Company on the stock exchange. Therefore, we also decided andimplemented to acquire “K” LINE stock as follows.
2. Details of repurchase:(1)

Class of share: Common stock of “K” LINE

(2)

Number of shares repurchased: 6,212,100 shares

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(2.5% of the total number of shares of common stock outstanding excluding treasurystock)(3)

Total amount: 28,227,782,400 yen (4,544 yen per share)(4)

Period: August 4, 2023

(5)

Repurchase method: Purchase on the Tokyo Stock Exchange through off-auction own
share repurchase trading (ToSTNeT-3)(Note) As part of the current buyback of “K” LINE shares, the Company has received notice fromshareholders Effissimo, KHI and MHBK that they have sold us “K” LINE stock in quantities
roughly corresponding to their respective holding ratios as of August 2, 2023
(percentages of shares, etc. held) with respect to the total number of “K” LINE shares tobe acquired by the Company in section [Reference] as below. (In the case of Effissimo,
this includes stock held through the fund it manages.)[Reference]
Details of stock repurchase resolved at the meeting of the Board of Directors (disclosed onAugust 2, 2023)(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 yen(4)

Period: From August 3, 2023 to October 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

At the meeting of the Board of Directors held on August 2, 2023, “K” LINE resolved to purchaseshares using the method described in [Reference] section as above. The transaction was executed
today using the TSE’s Off-Auction Own Share Repurchase Trading system (ToSTNeT-3). However, thenumber of shares acquired and the total acquisition value did not reach the maximum total numberof shares to be acquired and the maximum total acquisition value of shares as stated in the Boardof Directors’ resolution. Therefore, after today, we plan to continue repurchasing our own stock on
the Tokyo Stock Exchange, up to the total maximum number and value concerned during therepurchase period described in section [Reference] as above.

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NEWSLETTER

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 Communication
Group