Taisei : Notice of the 163rd General Meeting of Shareholders

Notice of the 163rd

General Meeting of

Shareholders

Date Tuesday, June 27, 2023, 10:00 A.M. (JST)

Place The Main Hall, 52nd floor Taisei Corporation Head Office Shinjuku Center Building

25-1,Nishi-Shinjuku1-chomeShinjuku-ku, Tokyo 163-0606, Japan

Matters to Be Resolved

Items No.1:

Appropriation of Earned Surplus

Items No.2:

Election of Twelve (12) Members of the Board

Items No.3:

Election of Two (2) Audit & Supervisory Board Members

Please exercise your voting rights through the Internet or by post by 5:30 P.M. (JST), Monday, June 26, 2023.

TAISEI CORPORATION

Securities Code: 1801

IMPORTANT NOTE:

This notice and attached documents are English translations of the"Notice of the 163rd General Meeting of Shareholders (Dai-163-kaiTeiji Kabunushi Sokai Shoshu Go-Tsuchi)," "Reference Materials for the General Meeting of Shareholders (Kabunushi Sokai Sanko Shorui )"of Taisei Corporation, and are prepared solely for the convenience of shareholders who are non-Japanese speakers. In the event that any of the information contained in these English translations is inconsistent with the information contained in the Japanese original documents, the Japanese original texts shall prevail.

Table of Contents

Notice of the 163rd

General Meeting of Shareholders…………………………… 2

Measures for Electronic Provision of Information pertaining to the Matters to Be Specified in Shareholders Meeting Reference Documents… ………… 3

Instructions of Exercising Your Voting Right……………… 4

Shareholders Meeting Reference Documents… ………… 5

Information Guide to Live Streaming of the GMS and Questions in Advance

…………………………………………… Back Cover Page

Greeting from President and Chief Executive Officer

To Our Shareholders,

I would like to express my gratitude for your continuous support.

With reference to the Notice of the 163rd General Meeting of Shareholders we have delivered to our shareholders, I would like to make a few remarks.

The Taisei Group celebrates 150th anniversary of its foundation in 2023.

We are faced with a variety of social challenges, including a rapidly changing international situation, global environmental issues, and serious domestic issues of the declining birthrates and aging population.

In response to these challenges, all executives and employees will work together to create new value for society and build further relationships of trust with our stakeholders through "contributing to the development of a resilient society," which we aim to achieve in our TAISEI VISION 2030, while demonstrating the spirit of enterprise that has been built up as we had overcome the challenges which we had encountered many times since our foundation.

In the ongoing project "(tentative name) Sapporo Kita 1 Nish 5 Project" undertaken by our Sapporo Branch, we failed to satisfy the steel erection accuracy requirements. We deeply apologize to our shareholders for the great concern and inconvenience this issue has caused.

We will implement measures to prevent ourselves from repeating the similar failures and make company-wide efforts to restore our credibility and trust in us. I sincerely appreciate your continuous and invaluable cooperation and support.

President and Chief Executive Officer,

Representative Director

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(Securities Code: 1801)

June 1, 2023

Electronic Provision Measures Commencement Date: May 25, 2023

To Our Shareholders

NOTICE OF THE 163rd GENERAL MEETING OF SHAREHOLDERS

Taisei Corporation (the"Company") would like to take this occasion to express particular thanks for the support of our shareholders.

Notice is hereby given that the 163rd General Meeting of Shareholders of Taisei Corporation (the"GMS") will be held as indicated below.

Please kindly review the Reference Materials for the GMS provided hereunder, and we would like to request you to exercise your voting rights beforehand through the Internet or by postno later than Monday, June 26, 2023, 5:30 P.M. (JST) as described on page 4. In addition, there will be live streaming of the GMS so that the proceedings of the meeting can be viewed at home. Please refer to the back cover page regarding the details of the live streaming.

1. Date: Tuesday, June 27, 2023, 10:00 A.M. (JST)
2. Place: The Main Hall, 52nd floor

Taisei Corporation Head Office

Shinjuku Center Building

25-1,Nishi-Shinjuku1-chome

Shinjuku-ku, Tokyo 163-0606, Japan

3. Agenda:

(1)Matters to be reported: 1. Business Report, Consolidated Financial Statements, and

Audit Reports of Accounting Auditor and Audit & Supervisory Board for Consolidated Financial Statements, for the fiscal year ended March 31, 2023 (the 163rd Business Year commenced April 1, 2022 and ended March 31, 2023)

2. Non-Consolidated Financial Statements, for the fiscal year ended March 31, 2023 (the 163rd Business Year commenced April 1, 2022 and ended March 31, 2023)

(2)Matters to be resolved:

Items No.1: Appropriation of Earned Surplus

Items No.2: Election of Twelve (12) Members of the Board

Items No.3: Election of Two(2) Audit & Supervisory Board Members

Yours sincerely,

Yoshiro AIKAWA

President and Chief Executive Officer

Representative Director

TAISEI CORPORATION

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Measures for Electronic Provision of Information pertaining to the Matters to Be Specified in Shareholders Meeting Reference Documents

(For shareholders who use Japanese language only)

Upon convocation of the GMS, the information pertaining to the matters to be specified in Shareholders Meeting Reference Documents for the GMS of which electronic provision is made, is posted on the following websites on the Internet. We sincerely request the shareholders to visit the websites and confirm it.

The Company's website:

https://www.taisei.co.jp/ir/soukai.html (Japanese language only)

Note: For shareholders who use English, please refer to the Company's English website: https://www.taisei.co.jp/english/ir/meeting/

The website of Tokyo Stock Exchange ("TSE"):

https://www2.jpx.co.jp/tseHpFront/JJK010010Action.do?Show=Show (Japanese language only)

The way to search the information of the listed companies of TSE

Insert the name "Taisei Corporation" or the securities code "1801" into the search box of the website, and select the link "basic information" or "documents for public inspection/information for public relations"

The website of convocation through the Internet:

https://s.srdb.jp/1801/ (Japanese language only)

Regarding procedures upon request for provision of the Shareholders Meeting Reference Documents for the GMS in writing

Due to amendment of the Companies Act, the Shareholders Meeting Reference Documents for the GMS can be posted on the website. However, shareholders for whom it is difficult to access the Internet may request for provision of the Shareholders Meeting Reference Documents for the GMS in writing. If you want to use the procedures for the provision in writing, please contact to the securities company where you hold stock account of the Company's shares.

In addition, if you want to receive the printed documents the content of which is the same as those sent to the shareholders who requested provision of the Shareholders Meeting Reference Documents for the GMS in writing, you can apply for the said documents through the following website only for this GMS. Provided, however, that such application is not regarded as "request for provision of the Shareholders Meeting Reference Documents for the GMS in writing," therefore, please separately contact to the securities companies and request it.Please note that it will take about one week from your application to your receipt of the said documents.

Furthermore, the number of copies of the printed documents are limited. Therefore, we would like you to understand that, if the number of applications are more than that of copies, we cannot send the printed documents in such case.

The website for receiving application for sending the notice of the GMS:

https://d.srdb.jp/1801/2306/ (Japanese language only)

Log-in ID: Shareholders number (9-digit)

Log-in password: Japan's postal code (7-digit, Hyphen is not necessary.)

The deadline of the receipt: No later than 11:59 P.M. (JST), Wednesday, June 21, 2023

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Instructions of exercising your voting right

(Prior to the GMS or on the date of the GMS)

(Exercise of Voting Rights Prior to the GMS) Exercising your voting right through the Internet

Deadline for Voting: By Monday, June 26, 2023, 5:30 P.M. (JST)

Please access the designated website for voting of the Company (https://soukai. mizuho-tb.co.jp/) and follow the instructions on the screen to enter your preference on the matters to be resolved.

QR code is also printed in the Voting Form. ("ID"and"Password"are not necessary.)

For more information, please refer to the enclosed paper titled"Request for exercising your voting right."

Reference for Institutional Investors

The"Electronic Voting Platform"being operated by ICJ is available for the institutional investors.

(Exercise of Voting Rights Prior to the GMS) Exercising your voting right by post

Deadline for Voting: Needs to Be Received by Monday, June 26, 2023, 5:30 P.M. (JST)

Please indicate your preference on the matters to be resolved on the enclosed Voting Form and return the Form by post.

In case no preference is indicated on a matter to be resolved, we treat that you cast an affirmative vote to that matter.

(Exercise of Voting Rights on the date of the GMS) Where you attend the Meeting

Date of the Meeting: Tuesday, June 27, 2023, 10:00 A.M. (JST)

Shareholders attending the Meeting are requested to submit the Voting Form to the reception desk at the Place for the GMS.

If exercising your voting rights by proxy, you can appoint one of other shareholders of the Company who is entitled to vote and ask that person to attend the General Meeting of Shareholders as your proxy.

In this case, please be advised that a letter of proxy shall be submitted along with a Voting Form.

Body temperature will be taken at the entrance of the venue. The shareholder who does not seem to be in a good health condition may be asked by the staff not to attend this GMS.

Note 1: Regarding the documents which the Company may send upon the shareholders'request for… such documents in writing, in accordance with laws and regulations and Article 16 of the Articles of Incorporation of the Company, the following items are omitted from the documents.

・Systems and Policies of the Company

・Consolidated Statement of Changes in Net Assets and Notes to Consolidated Financial Statements

・Non-Consolidated Statement of Changes in Net Assets and Notes to the Non-Consolidated Financial Statements

Provided, the Business Report, Consolidated Financial Statements and Non-Consolidated Financial Statements, which were audited by Audit & Supervisory Board Members and Accounting Auditors include the above items omitted from the documents in writing to be sent upon shareholders' request.

Note 2: In the event that any amendment is made in the Reference Materials for the General Meeting of Shareholders, Business Report, Consolidated Financial Statements and Non-Consolidated Financial Statements, the Company will disclose the amended matter on the Company's website.

Note 3: The notice of the resolution adopted at this General Meeting of Shareholders will be reported on the Company's website instead of sending a written document.

The Company's Website https://www.taisei.co.jp/english/

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