Kintetsu : NOTICE OF THE 114TH ORDINARY GENERAL MEETING OF SHAREHOLDERS

This document has been translated from the Japanese original for the convenience of non-Japanese shareholders. In the event of any discrepancy between this translation and the Japanese original, the original shall prevail.

To our shareholders

We would first like to express our appreciation for the gracious support all Kintetsu Group shareholders have shown for our business operations.

Having finalized the results for the 114th term (from April 1, 2024 to March 31, 2025), we would like to convene the 114th Ordinary General Meeting of Shareholders. This notice cordially invites you to attend that annual event.

This term saw revenue increase in all businesses, ensuring a higher level of consolidated operating revenue than the previous term. However, as a result of decreased profits in the International Logistics business and other businesses, operating profit, ordinary profit and profit attributable to owners of parent declined compared to the previous term.

After taking into total consideration our business performance, financial position and other factors over this term, we decided on year-end dividend of 25 yen per share, which when combined with the interim dividend of 25 yen provides total annual dividends of 50 yen per share.

Furthermore, to maintain our position as a trusted and chosen corporate group by customers, local communities, shareholders, business partners, employees and the entire range of stakeholders now and into the future, the Kintetsu Group set out the target direction to which we aspire, based on which we framed our ideal vision for 10 years hence in the Long-Term Vision 2035 and developed the Medium-Term Management Plan 2028, defining the targets and measures by backcasting from that long-term vision.

We will steadily implement initiatives based on the Management Plan to improve both corporate and shareholder value, and humbly ask for the continued support that you, our shareholders, provide in order to turn this ambition into reality.

Takashi Tsuji Chairman of the Board (Representative Director)

Takashi Wakai President

(Representative Director)

To our shareholders:

Securities identification code: 9041

May 29, 2025

Takashi Wakai Representative Director and President

Kintetsu Group Holdings Co., Ltd.

6-1-55, Uehommachi, Tennoji-ku, Osaka-shi, Osaka, Japan

NOTICE OF THE 114TH ORDINARY GENERAL MEETING OF SHAREHOLDERS

We are pleased to announce the 114th Ordinary General Meeting of Shareholders of Kintetsu Group Holdings Co., Ltd. (the "Company"), which will be held as described below.

If you are unable to attend the meeting, you can exercise your voting rights in writing or via electronic means (such as the Internet). Please review the Reference Documents for the General Meeting of Shareholders (from page 8 to page 20) and the Information on Exercise Method of Voting Rights (on page 6 and page 7) and exercise your voting rights by 6:00 p.m. on Thursday, June 19, 2025 (Japan Standard Time).

Meeting Details

1. Date and Time: Friday, June 20, 2025 at 10:00 a.m. (Japan Standard Time)
2. Venue: 6-1-55, Uehommachi, Tennoji-ku, Osaka-shi, Osaka, Japan Sheraton Miyako Hotel Osaka, 4F "Naniwa"
3. Purposes: Items to be reported:

   Business Report, Consolidated Financial Statements and Non-Consolidated Financial Statements for the 114th Term (from April 1, 2024 to March 31, 2025), as well as the audit reports of the Consolidated Financial Statements by the Accounting Auditor and the Audit & Supervisory Board

   Items to be resolved: Proposal 1: Dividends of surplus Proposal 2: Election of twelve (12) Directors Proposal 3: Election of one (1) Audit & Supervisory Board Member
4. Items concerning measures for electronic provision

   The Company takes measures for providing in electronic format information that constitutes the content of the Reference Documents for the General Meeting of Shareholders, etc. (items for which measures for providing information in electronic format are to be taken) in accordance with the provisions of laws and regulations and Article 16, paragraph 1 of the Articles of Incorporation of the Company. Items concerning measures for electronic provision are as follows.

   Internet address of materials for which measures for electronic provision are taken The Company's website:

   https://www.kintetsu-g-hd.co.jp/ir/kabunushi/index.html (in Japanese)

   Website for posted informational materials for the General Meeting of Shareholders https://d.sokai.jp/9041/teiji/ (in Japanese)

5. Other

   1. Of the items concerning measures for electronic provision, the following items are not stated in the paper-based documents to be delivered to shareholders in accordance with the provisions of laws and regulations and Article 16, paragraph 2 of the Articles of Incorporation of the Company.

      1. "System Necessary to Ensure the Properness of Operations" and "Basic Policy, etc. Regarding the Persons Who Control Decisions on Financial and Management Policies" in the Business Report

      2. "Consolidated Statements of Changes in Equity" and "Notes to the Consolidated Financial Statements" in the Consolidated Financial Statements

      3. "Non-Consolidated Statements of Changes in Equity" and "Notes to the Non-Consolidated Financial Statements" in the Non-Consolidated Financial Statements

         Accordingly, the Business Report, Consolidated Financial Statements and Non-Consolidated Financial Statements included in the paper-based documents to be delivered to shareholders are part of the Business Report, Consolidated Financial Statements and Non-Consolidated Financial Statements that were audited by the Audit & Supervisory

         Board Members and the Accounting Auditor when preparing their audit report and financial audit report, respectively.

   2. Cases in which you do not indicate your approval or disapproval for each of the proposals on the Voting Rights Exercise Form when exercising your voting rights in writing will be treated as you having indicated your approval for that particular proposal.

   3. If you exercise your voting rights both in writing and via electronic means, the voting via the electronic means shall be deemed valid. If you exercise your voting rights more than once via electronic means, the last exercise of voting rights shall be deemed valid.

   4. Upon request, we will send a Voting Rights Exercise Form to shareholders who have received the notice of convocation via electronic means.

• Shareholders attending the meeting in person are requested to submit the Voting Rights Exercise Form to the reception desk at the site of the meeting. Please also bring this notice of convocation when you attend.

• If a proxy is to exercise voting rights, one other shareholder who has voting rights may attend the meeting as a proxy. However, written proof of proxy authority must be submitted.

• If any revisions are made to the items concerning measures for electronic provision, the revised versions will be posted on the aforementioned websites.

Information on System for Providing Informational Materials for General Meetings of Shareholders in Electronic Format

Following revisions to the Companies Act, a system for providing informational materials for general meetings of shareholders in electronic format (meaning statutory reference documents for a general meeting of shareholders, etc.) was introduced and became compulsory for listed companies.

This system allows informational materials for General Meetings of Shareholders to be provided to shareholders by posting them on our own homepage or other websites and notifying shareholders of the website address and other relevant information in writing.

Under this system, it will be sufficient to deliver to shareholders a simple paper-based notice of convocation (a notice indicating that the informational materials for the general meeting of shareholders are available on a website, the address of said website, etc.). Shareholders who wish to receive paper-based informational materials for the general meeting of shareholders must complete the procedure for "requesting delivery of paper-based documents" via the securities company at which they have an account, or via the administrator of the register of shareholders, before the record date of the general meeting of shareholders.

However, considering the convenience of shareholders, the Company provides informational materials for the general meeting of shareholders and forms for the exercise of voting rights on paper, irrespective of whether "requesting delivery of paper-based documents" has been made. Furthermore, when this approach is brought to an end and is replaced by an arrangement in which paper-based documents are provided only to shareholders who have completed the procedure for "requesting delivery of paper-based documents," the Company will inform shareholders in advance. Information on Receiving the Notice of Convocation by Email

You may receive the notice of convocation by email instead of in writing. Shareholders who wish to exercise their voting rights at the next and subsequent General Meeting of Shareholders are requested to access the Website for Exercising Voting Rights (https://evote.tr.mufg.jp/ (in Japanese)) and follow the instructions on the page 7 to log in and complete the necessary procedures.