March 29, 2023
To whom it may concern:
Company Name Kawasaki Kisen Kaisha, Ltd.
Representative Director Yukikazu Myochin(Code No.: 9107 TSE Prime Market)
Contact Takamasa Soejima
General Manager, Containerships Business Group(TEL. +81 3-3595-5539)

Completion of Acquisition of Shares in Atlas Corp. by a Consortium Including an Equity Method Affiliate

As Kawasaki Kisen Kaisha, Ltd. (““K”LINE”) disclosed on November 2, 2022 (Title: Agreement ofAcquisition of Shares in Atlas Corp. by a Consortium Including an Equity Method Affiliate), a consortium(hereinafter the “Consortium”) composed of our equity method affiliate, OCEAN NETWORK EXPRESS
PTE. LTD.(“ONE”) and two major shareholders and the Chairman of Atlas Corp. (“Atlas”)* have agreed
with Atlas to acquire all of the outstanding common shares of Atlas that the Consortium does not own orcontrol.
We hereby inform you that on March 28, 2023 (U.S. local time), the acquisition of shares in Atlas has been
completed, after approval of Atlas’s shareholder meeting and clearance for all regulatory approval

1. Outline of share acquisition
Acquirer: Poseidon Acquisition Corp.

Target company : Atlas Corp.
Acquisition date

: March 28, 2023 (U.S. local time)

ONE holds 28.7% of Poseidon Acquisition Corp’s share.
2. Impact on Business Results
The impact on the “K”LINE's consolidated financial results will be immaterial.
Please refer to the press release by Atlas.
* About Atlas Corp.

Atlas is an asset management company, also known as the owner of Seaspan Corporation, the largest
independent global containership lessor.
Website: https://atlascorporation.com/

【Attachment】Press Release by Atlas

Atlas and Poseidon Announce Completion of Acquisition by Poseidon Acquisition Corp.
LONDON and TORONTO, March 28, 2023 /CNW/ - Atlas Corp. ("Atlas" or the "Company") (NYSE:ATCO) and Poseidon Acquisition Corp. ("Poseidon"), an entity formed by certain affiliates of Fairfax
Financial Holdings Limited ("Fairfax"), certain affiliates of the Washington Family ("Washington"), David
Sokol, Chairman of the Board of Atlas, and Ocean Network Express Pte. Ltd. ("ONE"), and certain of
their respective affiliates, today announced the completion of the previously announced transaction
pursuant to which Poseidon acquired all outstanding common shares of Atlas not already owned byFairfax, Washington and Mr. Sokol. Pursuant to the terms of the Agreement and Plan of Merger, dated
October 31, 2022, by and among the Company, Poseidon and Poseidon Merger Sub, Inc. ("Merger Sub"),Merger Sub merged with and into the Company (the "Merger"), with the Company continuing as thesurviving company in the Merger. Each Atlas common share issued and outstanding immediately prior tothe effective time of the Merger, other than common shares held by Fairfax, Washington and Mr. Sokol,
was converted into the right to receive $15.50 per share in cash. In addition, as previously announced,
the first quarter dividend of $0.125 per share payable to common shareholders of record as of March 20,2023 will be paid on March 31, 2023.
In connection with the consummation of the Merger, the Company requested that trading of the commonshares on the New York Stock Exchange (the "NYSE") be suspended with immediate effect (the"delisting"). Atlas preferred shares will remain outstanding and continue to trade on the NYSE.
Each of the Merger and the delisting constitutes a "Make-Whole Fundamental Change" under that certain
indenture dated as of December 21, 2020, by and among the Company, Seaspan Corporation, a wholly
owned subsidiary of the Company and The Bank of New York Mellon, as trustee, governing theexchangeable senior notes due 2025.
AdvisorsMorgan Stanley & Co. LLC is serving as financial advisor to the Special Committee and Gibson, Dunn &Crutcher LLP and Morris, Nichols, Arsht & Tunnell LLP are serving as legal advisors to the Special
Committee. Citi is serving as financial advisor to ONE and Latham & Watkins LLP is serving as legal
advisor to ONE. Torys LLP is serving as legal advisor to Fairfax, K&L Gates LLP is serving as legal
advisor to Washington, and Honigman LLP is serving as legal advisor to David Sokol and Poseidon.
About Atlas
Atlas is a leading global asset management company, differentiated by its position as a best-in-classowner and operator with a focus on disciplined capital deployment to create sustainable shareholder
value. Atlas targets long-term, risk-adjusted returns across high-quality infrastructure assets in themaritime sector, energy sector and other infrastructure verticals. For more information visit

atlascorporation.com.
About Fairfax
Fairfax Financial Holdings Limited is a holding company which, through its subsidiaries, is primarily
engaged in property and casualty insurance and reinsurance and the associated investment
management.
Cautionary Note Regarding Forward-Looking Statements
This release contains "forward-looking statements." All statements, other than statements of historicalfacts, that address activities, events or developments that the Company expects, projects, believes oranticipates will or may occur in the future are forward-looking statements. You are cautioned not to relyon these forward-looking statements, which speak only as the date of this release. The Company
undertakes no obligation and does not intend to update these forward-looking statements to reflect
events or circumstances occurring after this release. These statements are based on current
expectations of future events, are not guarantees of future performance and are subject to risks,
uncertainties and other factors, some of which are beyond the Company's control and are difficult topredict. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actualevents could vary materially from the Company's expectations. When considering these forward-looking
statements, you should keep in mind the risk factors and other cautionary statements found in theCompany's filings with the SEC, which include, but are not limited to, those found in the Company's
Annual Report on Form 20-F for the year ended December 31, 2022, filed with the SEC on March 16,2023, the Company's Proxy Statement filed as an exhibit to Schedule 13e-3, filed with the SEC onJanuary 9, 2023, and the Company's other filings with the SEC.
SOURCE Atlas Corp.
For further information: Atlas Inquiries: Will Kostlivy, Investor Relations, Atlas Corp., Tel. +1-888-8290013, Email: IR@atlascorporation.com; Fairfax Financial Holdings Limited Inquiries: John Varnell, Vice
President, Corporate Development, Tel. +1-416-367-4941