Nippon Paper Industries : The Announcement of Additional Contribution to Stock Compensation Plan (Board Benefit Trust)

May 15, 2023

Company Name: Nippon Paper Industries Co., Ltd.

Representative: Toru Nozawa, President

The Announcement of Additional Contribution to Stock Compensation Plan

(Board Benefit Trust)

Nippon Paper Industries Co., Ltd. (the Company) has announced that at a meeting of the Board of Directors held on May 15, 2023, it resolved to make an additional cash contribution to the Board Benefit Trust (BBT) (hereinafter "the System"; the trust created under the trust agreement concluded with Mizuho Trust & Banking Co., Ltd. for the System (hereinafter referred to as "the Trust")). Details are as follows. For an outline of the System, please refer to the Notice on Introduction of Stock Compensation Plan dated May 15, 2019 and the Notice of the Details of Introduction of a Stock Compensation Plan (Board Benefit Trust) dated November 6, 2019.

1. Reason for Additional Contribution
   The Company has decided to make an additional cash contribution to the Trust (hereinafter "Additional Money in Trust") to secure funds for the acquisition by the Trust of shares that are considered necessary for the provision of shares in the future to continue the System.
2. Outline of Additional Money in Trust
3. 1. Date of contribution of Additional Money in Trust: May 29, 2023
   2. Amount of Additional Money in Trust: 200,000,000 yen
   3. Class of shares acquired: Common shares of the Company
   4. Maximum number of shares to be acquired: 200,000
   5. Period for share acquisition: from May 29, 2023 to June 5, 2023
   6. Method of share acquisition: Acquisition from the stock market