Okumura : NOTICE OF THE 86TH ANNUAL GENERAL MEETING OF SHAREHOLDERS NEW!

Note: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. The Company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation.

(Securities Code 1833) June 7, 2023 (Date of commencement of electronic provision measures: May 31, 2023)

To Shareholders with Voting Rights:

Takanori Okumura

President and Representative Director

OKUMURA CORPORATION

2-2-2,Matsuzaki-cho,Abeno-ku,

Osaka-shi, Osaka

NOTICE OF

THE 86TH ANNUAL GENERAL MEETING OF SHAREHOLDERS

We would like to express our appreciation for your continued support and patronage.

Notice is hereby given that the 86th Annual General Meeting of Shareholders of OKUMURA CORPORATION (the "Company") will be held for the purposes as described below.

In convening this General Meeting of Shareholders, the Company has taken electronic provision measures, which provide information contained in the Reference Documents, etc. for the General Meeting of Shareholders (the "matters subject to electronic provision measures") in electronic format, and has posted this information on the following Company website. Please access the website to review the information.

The Company website: https://www.okumuragumi.co.jp/en/ir/kabunushi/

The Company has also posted this information on the website of Tokyo Stock Exchange (TSE). To view the information, please access the TSE website (Listed Company Search), input the issue name (OKUMURA CORPORATION) or securities code (1833), and click "Search" to find search results. Then, click on "Basic information" and "Documents for public inspection/PR information" in this order to find "[Notice of General Shareholders Meeting /Informational Materials for a General Shareholders Meeting]" in the "Filed information available for public inspection" section.

TSE website (Listed Company Search): https://www2.jpx.co.jp/tseHpFront/JJK020010Action.do?Show=Show

If you are unable to attend the meeting, you can exercise your voting rights in writing or via the Internet, etc. Please review the attached Reference Documents for the General Meeting of Shareholders, and exercise your voting rights in accordance with the guide below.

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1. Date and Time
   Thursday, June 29, 2023 at 10:00 a.m. (Japan time)
2. Place
   Head Office of the Company, located at
   2-2-2,Matsuzaki-cho,Abeno-ku,Osaka-shi, Osaka
3. Meeting Agenda
   Matters to be reported: 1. The Business Report and the Consolidated Financial Statements for the

86th Fiscal Year (April 1, 2022 - March 31, 2023) and results of audits of the Consolidated Financial Statements by the Accounting Auditor and the Audit and Supervisory Committee

2. Non-consolidated Financial Statements for the 86th Fiscal Year (April 1, 2022 - March 31, 2023)

Proposals to be resolved: Proposal 1: Appropriation of Surplus

Proposal 2: Election of Eight (8) Directors (Excluding Directors Who Are

Audit and Supervisory Committee Members)

• Among the matters subject to electronic provision measures, the following matters will not be provided in the paper copy to shareholders who made a request for delivery of documents in accordance with the provisions of laws and regulations and Article 30 of the Articles of Incorporation of the Company.
• 1. Notes to the Consolidated Financial Statements
  2. Notes to the Non-consolidated Financial Statements

Accordingly, the paper copy to be delivered to shareholders who made a request for delivery of documents constitutes only part of the documents audited by the Accounting Auditor and the Audit and Supervisory Committee in preparation of the accounting audit report and the audit report, respectively.

• If any amendments are made to matters subject to the electronic provision measures, such amendments will be posted on the respective websites where the matters are posted.

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Guide to Exercising Voting Rights

When Attending the General Meeting of Shareholders

Date and time of the General Meeting of Shareholders

Thursday, June 29, 2023, at 10:00 a.m. (Japan time)

• When attending the meeting, please submit the enclosed Voting Rights Exercise Form at the reception desk.
• To save electricity, the venue will be moderately air-conditioned and the Cool Biz (light clothing) dress code will be observed at the meeting. Shareholders who attend the meeting are encouraged to wear light clothing.

If You Are Unable to Attend the Meeting

• Exercising Voting Rights in Writing

Deadline for Exercise

To be received by no later than 5:15 p.m. Wednesday, June 28, 2023 (Japan time)

• Please indicate your vote for or against the proposals on the enclosed Voting Rights Exercise Form, and return it so that it is received by the deadline for exercise. Furthermore, if there is no indication of a vote for or against any proposal, it shall be treated as an indication of consent for the proposal.

• Exercising Voting Rights via the Internet, etc.

Deadline for Exercise

Wednesday, June 28, 2023 at 5:15 p.m. (Japan time)

• Please access the voting rights exercise website, and enter your vote for or against the proposals by following

the guidance onscreen.

Voting rights exercise website: https://www.web54.net

• Shareholders may use the voting rights exercise website for smartphones ("smart voting"). Please refer to the next page for details.

• If voting rights are exercised both in writing and via the Internet, etc., the vote received via the Internet, etc. will be treated as the valid exercise of voting rights. In addition, if voting rights are exercised multiple times via the Internet, etc., the final vote exercised will be treated as the valid exercise of voting rights.

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Guide to Exercising Voting Rights via the Internet, etc.

Exercise of voting rights via the Internet is only possible by accessing the voting rights exercise website designated by the Company.

Deadline for Exercise: Wednesday, June 28, 2023 at 5:15 p.m. (Japan time)

The voting rights exercise website: https://www.web54.net

How to exercise voting rights with "smart voting"

By scanning the "smartphone voting website login QR code" printed on the enclosed Voting Rights Exercise Form, you can access the voting rights exercise website without entering the "voting rights exercise code" and "password."

You can exercise your voting rights ONLY ONCE with "smart voting."

To change your vote after exercising your voting rights, it is required to enter the "voting rights exercise code" and "password."

• Connection fees to providers and telecommunications fees, etc. to telecommunication carriers arising from using the voting rights exercise website shall be borne by the shareholder.

How to enter the voting rights exercise code and password

Steps to follow when using the voting rights exercise website:

Please access the voting rights exercise website and enter the "voting rights exercise code" printed on the enclosed Voting Rights Exercise Form. After logging into the website, please enter the "password" and register your vote for or against the proposals by following the guidance onscreen.

	For inquiries concerning the exercise of voting rights via the Internet,
Inquiries concerning the	please contact:
exercise of voting rights via	Sumitomo Mitsui Trust Bank, Limited
the Internet	Securities Agent Web Support Hotline
	0120-652-031 [Business hours: 9:00 a.m.-9:00 p.m. (Japan time)]

For Institutional Investors

Institutional investors may exercise voting rights via electromagnetic means from the "Electronic Voting System Platform" operated by ICJ, Inc.

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Reference Documents for the General Meeting of Shareholders

Proposals and References

Proposal 1: Appropriation of Surplus

The Company recognizes the distribution of profits as one of the most important managerial issues. For the fiscal year under review, the Company proposes the year-end dividend and the appropriation of surplus as shown below based on its policy to return profits to shareholders in line with a payout ratio (consolidated) of 70% or more (regardless of the Company's business performance, set a minimum DOE ratio of 2.0%) in comprehensive consideration of the Company's financial situation and other factors.

Note) DOE = Total annual dividends (interim + year-end) / equity

1. Year-end dividend

1. Type of property for dividend Cash
2. Allotment of property for dividends to shareholders and total amount thereof ¥157 per share of the Company's common stock
   Total amount: ¥5,778,371,812
   The total annual dividend for the term will be ¥223 per share combined with the interim dividend of ¥66.
3. Effective date of distribution of surplus

	June 30, 2023
2. Appropriation of surplus
(1)	Item and amount of surplus that will increase
	General reserve	¥800,000,000
(2)	Item and amount of surplus that will decrease
	Retained earnings brought forward	¥800,000,000

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