Mitsubishi Logisnext : NOTICE OF THE 120TH ANNUAL GENERAL MEETING OF SHAREHOLDERS

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.

(Stock Exchange Code 7105)

June 14, 2021

To Shareholders with Voting Rights:

Takashi Kubo

President and CEO

Mitsubishi Logisnext Co., Ltd.

2-1-1,Higashi-kotari,

Nagaokakyo City, Kyoto

NOTICE OF

THE 120TH ANNUAL GENERAL MEETING OF SHAREHOLDERS

Dear Shareholders:

We are pleased to notify you that the 120th Annual General Meeting of Shareholders of Mitsubishi Logisnext Co., Ltd. (the "Company") will be held for the purposes as described below.

To avoid the risk of spreading COVID-19 at the Annual General Meeting of Shareholders, shareholders are requested to, wherever possible, refrain from attendance at the General Meeting of Shareholders, and instead exercise their voting rights in writing (by postal mail) or by electromagnetic means (via the Internet, etc.) in advance.

When exercising voting rights in advance, please review the attached "Reference Documents for the General Meeting of Shareholders" and exercise your voting rights by 4:50 p.m. on Monday, June 28, 2021, Japan time.

1. Date and Time: Tuesday, June 29, 2021 at 10:00 a.m. Japan time

(Reception opens at 9:00 a.m.)

2. Place:Main hall at the Corporate Headquarters located at 2-1-1,Higashi-kotari, Nagaokakyo City, Kyoto, Japan

3. Agenda:

Matters to be reported: 1. The Business Report, Consolidated Financial Statements for the Company's

120th Fiscal Year (April 1, 2020 - March 31, 2021) and results of audits by the Accounting Auditor and the Audit and Supervisory Board of the Consolidated Financial Statements

2. Non-consolidated Financial Statements for the Company's 120th Fiscal Year (April 1, 2020 - March 31, 2021)

Proposals to be resolved:

Proposal 1: Dividend of Surplus

Proposal 2: Election of Eight (8) Directors

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• When attending the meeting, please submit the enclosed Voting Rights Exercise Form at the reception desk.
• Of the documents to be attached to this Notice, "Notes to the Consolidated Financial Statements" of the Consolidated Financial Statements and "Notes to the Non-consolidated Financial Statements" of the Non-consolidated Financial Statements are posted on the Company's website (https://www.logisnext.com/) in accordance with provisions of laws and regulations as well as the Company's Articles of Incorporation and therefore are not included in the documents attached to this Notice.
  The Consolidated Financial Statements and Non-consolidated Financial Statements that were audited by the Audit and Supervisory Board Members and the Accounting Auditor include the "Notes to the Consolidated Financial Statements" and "Notes to the Non-consolidated Financial Statements" mentioned above, in addition to the documents attached to this Notice.
• Should the Reference Documents for the General Meeting of Shareholders, Business Report, Consolidated Financial Statements and Non-consolidated Financial Statements require revisions, the revised versions will be posted on the Company's website (https://www.logisnext.com/).
• If you wish to make a diverse exercise of your voting rights, please notify the Company of your intention and the reason therefor in writing not later than three (3) days before the Annual General Meeting of Shareholders.

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Guide to Exercising Voting Rights

Voting rights at the General Meeting of Shareholders are important rights of shareholders.

Please review the attached "Reference Documents for the General Meeting of Shareholders" and exercise your voting rights.

You can exercise your voting rights by one of the following three methods.

• Attend the General Meeting of Shareholders
  Please submit the enclosed Voting Rights Exercise Form at the reception desk.
  Date and Time: Tuesday, June 29, 2021 at 10 a.m. (Reception opens at 9 a.m.)
• Exercise voting rights in writing (by postal mail)
  Please indicate your vote for or against the proposals on the enclosed Voting Rights Exercise Form and return it by post without attaching a postage stamp.
  Deadline: Monday, June 28, 2021 at 4:50 p.m., Japan time (Your mail must arrive by the deadline above.)
• Exercise voting rights via the Internet, etc.

Please follow the instructions on the next page to indicate your vote for or against the proposals.

Deadline: Monday, June 28, 2021 at 4:50 p.m., Japan time (Your votes must be entered by the deadline above.)

Institutional investors may use the electronic voting platform for institutional investors, operated by ICJ, Inc.

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Reference Documents for the General Meeting of Shareholders

Proposal 1: Dividend of Surplus

The basic policy of the Company's dividend policy, etc. is to maintain stable profit returns, while securing internal reserves appropriately in preparation for future growth.

However, our business results for the 120th fiscal year were harsh as described in the Business Report. We regret to propose to pay a year-end dividend of 8 yen per share for the fiscal year under review, a decrease of 5 yen from the 13 yen per share paid out in the previous fiscal year.

1. Type of Dividends Cash
2. Allotment of dividend assets to shareholders and total amount of dividends

Common stock of the Company: 8 yen per share

Total amount:

852,598,376 yen

3. Date that the dividend of surplus becomes effective June 30, 2021

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Proposal 2: Election of Eight (8) Directors

The terms of office of all seven (7) Directors will expire at the conclusion of this year's Annual General Meeting of Shareholders. Taking this opportunity, we propose to elect eight (8) Directors by increasing the number of Directors by one (1) to strengthen our management structure.

The candidates are as follows:

No.					Name				Positions and Responsibilities	Significant concurrent positions
1					Takashi Kubo				President and CEO
	Reappointment
									Director
									Senior Executive Officer
2					Shinji Fujita				Division Head, General
	Reappointment
									Manager, Quality Management
									Office
										Senior Vice President,
										Mitsubishi Heavy Industries,
3					Masayuki				Director	Ltd.
		Reappointment
			Suematsu				Head of Business Strategy
										Office, Mitsubishi Heavy
										Industries, Ltd.
4					Ken Okochi	External Director		Director
		Reappointment		Independent Director
										President, Shimadzu Access
5					Osamu Ando	External Director		Director
		Reappointment		Independent Director		Corporation
										Lawyer, Partner, Irokawa Legal
										Professional Corporation
					Kyoko					External Audit and Supervisory
6					External Director		Director
		Reappointment		Kobayashi	Independent Director		Board Member, KAWAKAMI
										PAINT MANUFACTURING
										CO., LTD.
										Executive Vice President,
					Takashi					President and CEO, Logistics,
7									Thermal & Drive Systems,
	Newly appointed
	Mikogami
									Mitsubishi Heavy Industries,
										Ltd.
					Hirokazu				Senior Vice President
8								Head of Domestic Sales and
	Newly appointed
	Watanabe
								Marketing Headquarters

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