Mitsui Matsushima : Notice of Determination of Matters concerning the Acquisition of Own Shares

May 15, 2023

To Whom It May Concern:

Company name: Mitsui Matsushima Holdings Co., Ltd.

Representative: Taishi Yoshioka, Representative Director and President

(Stock Code: 1518, Prime Market of the Tokyo Stock Exchange and the Fukuoka Stock Exchange) Contact: Mikiko Abe, Executive Officer and General Manager of Business Planning Dept.

Tel: [phone]

Notice of Determination of Matters concerning the Acquisition of Own Shares

(Acquisition of Own Shares Pursuant to the Provisions of the Articles of Incorporation Based on the

Provisions of Article 459, Paragraph (1) of the Companies Act)

Mitsui Matsushima Holdings Co., Ltd. (the "Company") hereby announces that its Board of Directors passed a resolution at its meeting held on May 15, 2023 on matters concerning the acquisition of the Company's own shares pursuant to the provisions of its Articles of Incorporation based on the provisions of Article 459, paragraph (1) of the Companies Act as follows:

1. Reason for the Acquisition of Own Shares

The Company positions the return of profits to shareholders as one of its priority management policies. In principle, the Company strives to return profits commensurate with its financial results on an ongoing basis, while securing the internal reserves necessary to ensure stable future growth and to respond to changes in the business environment.

Regarding shareholder returns in the fiscal year ending March 31, 2024, as a result of comprehensive consideration of the policy above and business performance, etc., the Company plans to acquire its own shares in addition to paying an ordinary dividend with a view to achieving a total shareholder return ratio of around 30%, for the purpose of agile execution of capital policy and use in M&A transactions, etc.

2. Specifics of the Acquisition

1. Class of shares to be acquired
2. Total acquisition cost
3. Total number of shares to be acquired

Common shares

3.0 billion yen (upper limit)

2,000,000 shares (upper limit)

(Ratio to the total number of issued shares (excluding treasury shares): 15.39%)

(4) Acquisition period	From May 16, 2023 to March 31, 2024
(5) Acquisition method	Purchase through market transactions on the Tokyo Stock
	Exchange

(Reference)

Holding status of treasury shares as of April 30, 2023

・Total number of issued shares (excluding treasury shares)

・Number of treasury shares

12,993,663

70,737