Penta Ocean Construction : Notice regarding Introduction of Interim Dividend System and Partial Amendment to the Articles of Incorporation

May 10, 2024

Listed company: Penta-Ocean Construction Co., Ltd.

Code number: 1893

Stock exchange: Prime market of the Tokyo Stock Exchange,

Premier Market of the Nagoya Stock Exchange

Notice regarding Introduction of Interim Dividend System and Partial

Amendment to the Articles of Incorporation

Penta-Ocean Construction Co., Ltd. (hereinafter, the Company) hereby announces that at the Board of Directors Meeting held on May 10, 2024, the Company resolved to submit proposals to the 74th Ordinary General Shareholders Meeting, scheduled for June 25, 2024, to introduce an interim dividend system and to partially amend the Articles of Incorporation as described below.

1. Introduction of an Interim Dividend System

(1) Purpose of Introduction

The Company introduces an interim dividend system, in addition to the payment of annual term-end dividends, in an effort to further increase the opportunity to return profits to its shareholders.

1. Record date for Interim Dividend September 30 of each year

Please note that the introduction of the interim dividend system shall become effective on condition of approval of accompanying partial amendment to the Articles of Incorporation at the Company's 74th Ordinary General Shareholders Meeting, scheduled for June 25, 2024.

2. Partial amendment to the Articles of Incorporation

(1) Reason for amendment

In order to enhance the opportunity to return profits to its shareholders, the Company proposes to make the following amendment to its Article of Incorporation, in accordance with Paragraph 5, Article 454 of the Companies Act, to distribute dividends of surplus (interim dividend) upon resolution of its Board of Directors.

(2) Contents of the amendment

Details of the amendment are as follows.

(Underlined sections indicate proposed amendment)

Current Article of Incorporation	Proposed amendments
(Dividends of surplus, etc)	(Dividends of surplus, etc.)
Article 46 Dividends of surplus etc. shall be paid	Article 46
by a resolution of its Board of Directors to the	(unchanged)
shareholders listed in the company's register or
registered stock pledgees as of March 31 of each year
(newly established)	In addition to the preceding paragraph, the Company
	shall pay interim dividend by a resolution of
	its Board of Directors, as September 30 of each year
	as the record date

３．Schedule
The date of the General Meeting of shareholders
proposing amendment to the Articles of Incorporation	June 25, 2024
Effective date of amendments	Same as above

End of document