Shimizu Bank : NOTICE OF CONVOCATION OF THE 148TH ANNUAL GENERAL MEETING OF SHAREHOLDERS

These documents are partial translations of the Japanese originals for reference purposes only.

In the event of any discrepancy between these translated documents and the Japanese originals, the originals shall prevail. The Bank assumes no responsibility for these translations or for direct, indirect or any other forms of damages arising from the translations.

(Securities Code: 8364) May 31, 2023 (Starting date of the measures for electronic provision: May 30, 2023)

To Shareholders with Voting Rights:

Yasuhiro Iwayama

President and Representative Director

The Shimizu Bank, Ltd.

2-1 Fujimicho, Shimizu-ku,

Shizuoka-shi, Shizuoka, Japan

NOTICE OF CONVOCATION OF

THE 148TH ANNUAL GENERAL MEETING OF SHAREHOLDERS

You are cordially invited to attend the 148th Annual General Meeting of Shareholders of the Shimizu Bank, Ltd. (the "Bank"). The meeting will be held as described below.

The Bank has taken measures for the electronic provision of materials for this General Meeting of Shareholders, and posted the matters to be provided electronically on the following website.

The Bank's website: https://www.shimizubank.co.jp/english/

In addition to the above, the materials to be provided electronically are disclosed on the following website.

Tokyo Stock Exchange's website: https://www2.jpx.co.jp/tseHpFront/JJK020010Action.do?Show=Show

To view the information thus disclosed, please access the website above, search for us by entering our bank name or securities code, and select "Basic information" and then "Documents for public inspection/PR information."

If you are unable to attend the meeting, you can exercise your voting rights in writing or by electromagnetic means (via the Internet etc.). Please review the Reference Documents for the General Meeting of Shareholders and exercise your voting rights by 5:00 p.m. on Wednesday, June 21, 2023 (Japan standard time).

1. Date and Time: Thursday, June 22, 2023 at 10:00 a.m. (Japan standard time)

2. Place:	Large Hall, 3F, Shimizu Bank Tenjin Head Office,
	7-30, Tenjin 1-chome,Shimizu-ku,Shizuoka-shi, Shizuoka, Japan

3. Meeting Agenda:

Matters to be reported: 1. The Business Report and Non-consolidated Financial Statements for the

Bank's 148th Fiscal Year (from April 1, 2022 to March 31, 2023)

2. Consolidated Financial Statements for the Bank's 148th Fiscal Year (from

April 1, 2022 to March 31, 2023) and the results of audits of the Consolidated Financial Statements by the Accounting Auditor and the Audit & Supervisory Committee

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Proposals to be resolved:

Proposal No. 1: Appropriation of Surplus

Proposal No. 2: Election of Eleven (11) Directors (excluding Directors Serving as Audit & Supervisory Committee Members)

Proposal No. 3: Election of One (1) Director Serving as Audit & Supervisory Committee Members

Proposal No. 4: Revision of the Amount of Remuneration for Directors (excluding Directors Serving as Audit & Supervisory Committee Members)

Proposal No. 5: Determination of Remuneration for the Allotment of Shares with Restrictions on Transfer to Directors (excluding Directors Serving as Audit & Supervisory Committee Members and Outside Directors)

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4.Guide for Exercise of Voting Rights

The following three methods are available for exercising voting rights.

Exercise of Voting Rights by Attending the Meeting

Date and time: Thursday, June 22, 2023 at 10:00 a.m. (Japan standard time)

When attending the meeting, please submit the enclosed Voting Rights Exercise Form at the reception desk on the day of the meeting for confirmation. You are also kindly requested to bring this Notice of Convocation.

Exercise of Voting Rights by Proxy

In the case of attendance by proxy, please present to the receptionist at the General Meeting of Shareholders a document evidencing authority of the proxy to act as such, together with the Voting Rights Exercise Form. (Please note that the proxy must be one other shareholder of the Bank entitled to exercise voting rights at the General Meeting of Shareholders.)

Exercise of Voting Rights in Writing

Deadline: Wednesday, June 21, 2023 by 5:00 p.m. Japan standard time (time of receipt)

Please indicate your vote for or against the proposals on the enclosed Voting Rights Exercise Form and return it to us by the deadline.

Any voting right exercised in writing on the Voting Rights Exercise Form without indicating approval or disapproval for a particular proposal will be counted as a vote for approval of the proposal.

Exercise of Voting Rights via the Internet

Deadline: Wednesday, June 21, 2023 by 5:00 p.m. Japan standard time (time of transmission)

For exercising voting rights via the Internet, please refer to page 4 (in Japanese version only) and indicate your vote for or against the proposals by either of the following methods.

1. "Smart Exercise" by scanning the QR Code described on the right-hand side of the Voting Rights Exercise Form with a smartphone
2. Method by entering the Voting Rights Exercise Code and the Password

For institutional investors

As a method of exercising voting rights, you may use the "Electronic Voting System Platform" operated by ICJ, Inc.

Handling of Duplicate Voting

If you vote both in writing on the Voting Rights Exercise Form and via the Bank's designated website for the exercise of voting rights on the Internet, only your vote placed via the Internet will be valid, irrespective of the date and time your votes arrive. In addition, if you place your votes multiple times via the Internet, only the last vote will be treated as valid.

Split Voting

If you intend to engage in split voting, please submit a written notice indicating the reasons for the split voting at least three days prior to the General Meeting of Shareholders.

Other Matters to Which Electronic Provision Measures Apply (Matters Whose Recording in Physical Documents is Omitted)

Of the matters to which electronic provision measures apply, the Matters related to Subscription Rights to the Bank's Shares, System for Ensuring Proper Operations, the Non-consolidated Statement of Changes in Equity, the Notes to the Non-consolidated Financial Statements, the Consolidated Statement of Changes in Equity, and the Notes to the Consolidated Financial Statements have been posted on the Bank's website and Tokyo Stock Exchange's website in accordance with laws and regulations and the provisions of Article 17, Paragraph 2 of the Articles of Incorporation of the Bank, and are therefore not included in the documents provided to shareholders who made request for provision of physical documents. The Business Report, the Non-consolidated Financial Statements and the Consolidated Financial Statements audited by the Audit & Supervisory Committee and the Accounting Auditor in preparing the Audit Report and the Independent Auditors' Report, respectively, comprise the Matters related to Subscription Rights to the Bank's Shares, System for Ensuring Proper Operations the Non-consolidated Statement of Changes in

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Equity, the Notes to the Non-consolidated Financial Statements, the Consolidated Statement of Changes in Equity, and the Notes to the Consolidated Financial Statements, in addition to the documents included in this notice.

Any updates to the matters to which electronic provision measures apply will be posted on respective websites.

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Reference Documents for the General Meeting of Shareholders

Proposals and References

Proposal No. 1: Appropriation of Surplus

With respect to the appropriation of surplus, the Bank's basic policy is to maintain stable distribution of dividends to shareholders while securing internal reserve to enhance management quality and to prepare for changes in the operating environment. Accordingly, it is proposed that the surplus be appropriated as follows:

1. Matters concerning year-end dividends of surplus
2. 1. Type of dividend property Cash
   2. Allotment of dividend property to shareholders and the total amount 30 yen per share of common stock of the Bank
      Total amount: 345,609,180 yen
      Including interim dividend, dividends to be paid for the full year amount to 60 yen per share.
   3. Effective date of distribution of surplus June 23, 2023
3. Other matters concerning appropriation of surplus
4. 1. Item and the amount of surplus to be increased

General reserve	500,000,000 yen
(2) Item and the amount of surplus to be decreased
Retained earnings brought forward	500,000,000 yen

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