OKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced that it will restructure the organization as follows: (Effective April 1, 2022) 1. Establishment of Group Executive Officers MOL will establish the position of the 'Group Executive Officer' in addition to Executive Officers, serving as the president of key group companies in MOL group management strategies, with the aim of linking such strategies and individual strategies of key group companies in an efficient manner.

Accordingly, MOL will develop the management plan (Rolling Plan) and address the sustainability

issues by demonstrating our group's collective strength.

2. Establishment of Chief Human Resource Officer (CHRO) MOL positions planning and promotion of human resources strategies (hereinafter 'HR strategies')

including diversity as one of its high-priority management issues. It will establish the position of the

'Chief Human Resource Officer (CHRO)' to supervise HR strategies.

3. Establishment of Executive Officer in charge of East/South East Asia and Oceania, and Executive

Officer in charge of South Asia and the Middle East MOL will divide the position of 'Executive Officer in charge of Asia, the Middle East, and Oceania

Area,' and establish two positions: 'Executive Officer in charge of East/South East Asia and Oceania'

and 'Executive Officer in charge of South Asia and the Middle East'.

4. Establishment of Executive Officer in charge of Business Process Re-engineering, and Executive

Officer in charge of Structural Reforms MOL reviewed business processes and will rename the position of 'Executive Officer in charge of

Refreshing Organization' and establish the position of 'Executive Officer in charge of Business Process Re-engineering'.

In addition, it reviewed the group's organizational structure and will rename the position of 'Executive

Officer in charge of Enhancing Group Management' and establish the position of 'Executive Officer in

charge of Structural Reforms.' 5. Integration of assignments of Executive Officer in charge of Diversity Promotion, Chief Communication Officer (CCO), and Executive Officer in charge of Recovery of environmental damage

from the Wakashio incident and Contribution to the Mauritian community MOL will abolish the positions of 'Executive Officer in charge of Diversity Promotion' and 'Chief Communication Officer (CCO),' and integrate each of the current assignments into the positions of 'Chief Human Resource Officer (CHRO)' and 'Chief Financial Officer (CFO)', respectively.

In addition, it will abolish the position of 'Executive Officer in charge of Recovery of environmental

damage from the Wakashio incident and Contribution to the Mauritian community,' and integrate the

current assignment into 'Chief Environment and Sustainability Officer (CESO)'.

6. Establishment of Chief Executive Representative, East/South East Asia and Oceania, and Chief

Executive Representative, South Asia and the Middle East MOL will divide the position of 'Chief Executive Representative, Asia, Middle East, Oceania,' and establish two positions: 'Chief Executive Representative, East/South East Asia and Oceania' and 'Chief Executive Representative, South Asia and the Middle East.'7. Establishment of 'Unit' in MOL's organization MOL will establish 'Unit' as a new organization and positioned as the same rank as 'division'. It will

adopt the new name mainly for organizations that handle many new businesses and need the promotion of lateral cooperation within the organization as the highest priority, with the aim of raising awareness of their officers and employees.

8. Establishment of Real Property Business Division MOL will establish the 'Real Property Business Division' in the Headquarters of Product Transport & Real Property Businesses, as an organization that serves to efficiently link the DAIBIRU group and MOL group with the aim of more effectively concentrating our business resources on DAIBIRU Corporation as DAIBIRU group, which is in the process of making into a wholly-owned subsidiary.

9. Establishment of Global Maritime Resources Division MOL will establish the 'Global Maritime Resources Division' in the Headquarters of Safety Operations,

as an organization that takes the lead in addressing strategies for recruiting, education, training,

assignment of global seafarers and maritime officers (except Japanese seafarers) and corporate

governance management of related subsidiaries.

10. Establishment of DX Co-Creation Unit MOL will establish the 'DX Co-Creation Unit' as an organization that will take full responsibility

leading company's Digital Transformation (hereinafter 'DX') including implementation of digital

solutions onto company-wide business processes to strongly support expeditious achievement of the

management plan (Rolling Plan) and create additional values to the company by fusing with digital

technologies.

In addition, MOL Information Systems, Ltd. will become independent from the Headquarters of

Technology Innovations, keep servicing for entire MOL divisions/units and Group companies, and

place greater focus on cooperation with the 'DX Co-Creation Unit,'.

11. Renaming of LNG Marine Technical & Ship Management Strategy Division MOL will rename the 'LNG Marine Technical & Ship Management Strategy Division' as the 'Liquefied Gas Ship Management Strategies Division', by transferring business support and ship management supervision related to LPG and ammonia carriers from the 'Marine Technical Management Division'.

12. Restructuring and renaming of Energy and Offshore Business Unit MOL will rename the 'Energy and Offshore Business Unit' as the 'Headquarters of the Energy Business'.

It will restructure the 'Headquarters of Energy Business' as the table below, and as an agile organization that can deal with rapid changes in the business environment of the energy field centering on low and de-carbonization. It will develop a structure that can promote lateral cooperation within the organization and more quickly meet customer needs by integrating businesses with higher affinity as 'Integrated ~ ' organization and making an internal organization as 'Unit' under them.

13. Restructuring and renaming of Product Transport Business Unit MOL will rename the 'Product Transport Business Unit' as the 'Headquarters of the Product

Transport & Real Property Business'. The newly established Real Property Business Division will be

a part of the Headquarters.

14. Structure of Headquarters and Units/Divisions The structure of Headquarters and Units/Divisions effective April 1, 2022, is as follows. The organizations changed by the restructuring measures are underlined.After April 1, 2022 Current [Headquarters of Safety Operations] Marine Safety Division Global Maritime Resources Division Marine Technical Management Division Offshore Technical Division Smart Shipping Division Liquefied Gas Ship Management Strategies Division MOL Ship Management Co., Ltd.

MOL LNG Transport Co., Ltd.

[Safety Operations Headquarters] Marine Safety Division Marine Technical Management Division Offshore Technical Division Smart Shipping Division LNG Marine Technical & Ship management Strategy Division MOL Ship Management Co., Ltd.

MOL LNG Transport Co., Ltd.

[Headquarters of Technology Innovations] Technical Division Offshore Technical Division Smart Shipping Division [Technology Innovation Unit] Technical Division Offshore Technical Division Smart Shipping Division MOL Information Systems, Ltd.

[Headquarters of Dry Bulk Business] Dry Bulk Business Planning & Co-ordination Division Iron Ore and Coal Carrier Division MOL Drybulk Ltd.

Integrated Wind & Carbon Power Solutions Tanker Unit Marine Technical Management Division [Dry Bulk Business Unit] Dry Bulk Business Planning & Coordination Division Iron Ore and Coal Carrier Division MOL Drybulk Ltd.

Marine Technical Management Division [Headquarters of Energy Business] Energy Business Strategy Division Bunker Business Division Integrated Tanker & Offshore Projects: Tanker Unit Offshore Unit Integrated Wind & Carbon Power Solutions: Carbon Power Solutions Unit Wind Power Projects Unit Integrated Liquefied Gas Transport & Offshore Projects: Liquefied Gas Unit 1 (responsible for Japan, South East & South Asia LNG Business, LPG & Ammonia Business) Liquefied Gas Unit 2 (responsible for China, Korea, Middle East, Europe, Africa, North & South America, Oceania LNG Business) Liquefied Gas Unit 3 (responsible for Arctic Ocean, FSRU, Power ship Business) MOL Chemical Tankers Pte. Ltd.

Marine Technical Management Division Liquefied Gas Ship Management Strategies Division Offshore Technical Division [Energy and Offshore Business Unit] Energy Business Strategy Division Bunker Business Division Tanker Division Offshore Project Division Power Solution & Carbon Project Division Wind Power Energy Business Division LNG Carrier Division Offshore Gas Project Division Marine Technical Management Division LNG Marine Technical & Ship Management Strategy Division Offshore Technical Division [Headquarters of Product Transport & Real Property Business] Car Carrier Division Port Projects & Logistics Businesses Division Ferry and Associated Business Division Liner Business Management Division Real Property Business Division Marine Technical Management Division [Product Transport Business Unit] Car Carrier Division Port Projects & Logistics Business

Division Ferry and Associated Business Division Liner Business Management Division Marine Technical Management Division(Effective June 2022) 15. Establishment of Legal Division MOL Group's business environment and the structure of its business portfolio structure have been changing, and today's legal affairs require a high degree of expertise and confidentiality such as effective compliance with relevant laws and regulations. MOL will establish the 'Legal Division' to fulfill that role independently while enhancing its functions.

https://www.mol.co.jp/en/pr/2022/img/22012.pdf

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