Kajima : Notice Concerning Disposal of Treasury Stock for Performance-Linked Stock Remuneration Plan

May 14, 2026

Company name: Kajima Corporation Representative: Yoshikazu Oshimi

Chairman and President, Representative Director Securities code: 1812

(Tokyo Prime, Nagoya Premier)

Inquiries: Naoshi Nishizawa

Executive Officer, General Manager of Human Resources Department

Tel. [phone]

Notice Concerning Disposal of Treasury Stock for Performance-Linked Stock Remuneration Plan

Kajima Corporation (the "Company") hereby announces that, at the Board of Directors' Meeting held today, it has resolved to dispose of its treasury stock (the "Disposal of Treasury Stock") as stock remuneration. The details are as follows.

1. Summary of the disposal

   (1) Date of disposal	June 2, 2026
   (2) Type and number of shares to be disposed of	50,000 shares of common stock of the Company
   (3) Disposal price	¥6,477 per share
   (4) Aggregate disposal amount	¥323,850,000
   (5) Planned recipient of disposal	Sumitomo Mitsui Trust Bank, Limited (trust account) (Re-trustee: Custody Bank of Japan, Ltd. (trust account))
   (6) Other	The Company has submitted an extraordinary report on the Disposal of Treasury Stock pursuant to the Financial Instruments and Exchange Act.

2. Purpose and reason for the disposal

   The Company has introduced performance-linked stock remuneration plan (the "Plan") for Directors (excluding Outside Directors; the same applies hereinafter) and Executive Officers (collectively the "Directors, etc.") of the Company. The Disposal of Treasury Stock will be made to the Sumitomo Mitsui Trust Bank, Limited (trust account) (re-entrusted to Custody Bank of Japan, Ltd. (trust account)) acting as the trustee of the trust (the "Trust") already established for the introduction of the Plan.

   Please refer to "Announcement of Introduction of Performance-Linked Stock Remuneration Plan (RS Trust) for Directors and Executive Officers" dated May 15, 2023, for an overview of the Plan.

   The amount of shares to be disposed of corresponds to the number of shares expected to be delivered to the Directors, etc. during the current trust period in accordance with the Stock Delivery Regulations established by the Company for the Plan. This will have a dilutive effect equivalent to 0.01% of 528,656,011 shares, the total number of issued shares as of March 31, 2026 (or 0.01% of 4,670,960

   units, the total number of units of voting rights as of March 31, 2026; both percentages are rounded to the second decimal place).

   The Company believes that the Plan makes the interrelation between the remuneration for Directors, etc. and the value of the Company's stock clearer and contribute to improving its corporate value over the medium- to long-term. The Company considers that the number of shares to be disposed of and the scale of the resulting dilution due to the Disposal of Treasury Stock are reasonable, and that the effect on secondary markets will be insignificant.

   (Reference) Overview of the trust agreement for the Trust Trustor The Company

   Trustee Sumitomo Mitsui Trust Bank, Limited

   (Re-entrusted to: Custody Bank of Japan, Ltd.) Beneficiaries Directors, etc. who satisfy the requirements for beneficiaries Trust administrator A third party independent of the Company and its officers

   Exercise of voting rights Voting rights pertaining to the Company's stock held in the Trust shall not be exercised throughout the trust period

   Type of trust Trust of money other than money trust (third-party benefit trust) Date of trust agreement September 1, 2023

   Trust period September 1, 2023 to August 31, 2029 (planned)

   Purpose of trust To deliver the Company's stock to beneficiaries based on the Stock Delivery Regulations

3. Basis for the calculation of disposal price and specific details thereof

To eliminate arbitrary pricing, the Company has set the disposal price at ¥6,477 which was the closing price of its common stock on the Tokyo Stock Exchange as of May 13, 2026 (the business day immediately preceding the date of the Board of Directors' resolution). The Company adopted the closing price as of the business day immediately preceding the date of the Board of Directors' resolution, based on the judgment that it represents the market value immediately preceding the date of the Board of Directors' resolution and is therefore highly objective and reasonable as the basis for the calculation.

Disclaimer: This document is an English translation of the announcement titled "Notice Concerning Disposal of Treasury Stock for Performance-Linked Stock Remuneration Plan" which is filed with Stock Exchanges in Japan on May 14, 2026. Kajima Corporation provides this translation for your reference and convenience only without any warranty as to its accuracy. In case of any discrepancy between the translation and the Japanese original, the latter shall prevail.