Kobe Steel : Announcement on additional entrustment to the Board Benefit Trust (BBT)

Kobe Steel, Ltd. announces that at its Board of Directors meeting held today, it passed a resolution to make additional entrustment of funds to the Board Benefit Trust (BBT) (hereinafter the "Plan"), which was established based on a trust agreement concluded with Mizuho Trust & Banking Co., Ltd, within the amount approved at the 169th Ordinary General Meeting of Shareholders held on June 22, 2022.

For details of the Plan, please refer to the press release "Introduction of a stock compensation plan for directors" announced on April 28, 2016, and the Business Report section of the Notice of 170th Ordinary General Meeting of Shareholders.

1. Reason for the additional entrustment

For the continuation of the Plan, the Company has decided to make an additional entrustment of funds to the Trust in order for the Trust to acquire shares that are expected to be required for future benefits.

2. Outline of the additional entrustment

(1) Date of additional entrustment:May 27, 2024(2) Amount entrusted additionally:787,000,000 yen(3) Types of shares to be acquired:The Company's common stock(4) Maximum number of shares to be acquired:2,470,000 shares(5) Acquisition period of shares:From May 27, 2024 to May 31, 2024 (planned)(6) Acquisition method of shares:Acquisition through trading markets