Reference Documents and Business Reports, etc. of the 187th Ordinary General Meeting of Shareholders

The Board proposes the payment of a year-end dividend of ¥37.00 per share after taking various factors into account, including the Company's operating results for this fiscal year, and the business environment, in accordance with the Company's dividend policy. As a result, including the interim dividend of ¥37.00 per share, the annual dividend for this fiscal year will amount to ¥74.00 per share, an increase of ¥3.00 from the previous fiscal year. Regarding other appropriation of the surplus for the fiscal year under review, it is proposed that general reserve be reversed and transferred to retained earnings carried forward, which shall fund retirement of treasury stock, agile capital strategy and shareholder returns responsive to future changes in the business environment.

1. Matters regarding year-end dividend:

   1. Matters related to the allocation of the dividend property to shareholders and the total amount thereof:

      ¥37.00 per share of the Company's common stock Total amount: ¥30,034,643,662

   2. Effective date of payment of dividend: March 30, 2026

      The Company's Dividend Policy

      We consider a return of profits to shareholders to be one of the most important management issues. Since our establishment in 1907, the Company has consistently distributed a dividend to shareholders in every financial period. Based on the dividend policy to target a DOE (consolidated dividend on equity) of 5% or more and conduct progressive dividend*in principle, we aim to provide stable and sustainable dividends. We will also continue to consider opportunities to acquire treasury stock as an additional return to shareholders, taking into consideration the optimal capital structure, market environment, and financial resources after investment.

      As part of our cost of shareholder's equity-conscious corporate management aimed at increasing corporate value, we will continue to increase the return of profits to shareholders and improve capital efficiency.

      *Dividend policy to maintain or increases the unit price of dividends.

2. Matters concerning other appropriations of surplus:

   1. Increased surplus item and the amount thereof:

      Retained earnings carried forward: ¥506,367,900,000

   2. Decreased surplus item and the amount thereof: General reserve: ¥506,367,900,000

Upon the close of this Ordinary General Meeting of Shareholders, the terms of office of all twelve

(12) Directors of the Board will expire.

Accordingly, shareholders are requested to elect twelve (12) Directors of the Board. The candidates for the positions of Directors of the Board are as follows:

(Notes) 1. Age is as of the date of this Ordinary General Meeting of Shareholders.

1. As for the attendance at the Board Meetings of Mr. Shingo Konomoto and Ms. Naoko Mikami, the Board Meetings applicable to them are only those held on and after March 28, 2025.

2. As for the attendance at the Board Meetings of Mr. Kenichi Fujinawa, the Board Meetings applicable to him are those attended as an Audit & Supervisory Board Member.

3. The number of years in office is the number of years since each candidate assumed office as Director of the Board of the Company (until the close of this Ordinary General Meeting of Shareholders).

No. 1 Yoshinori Isozaki

100%

(14 times of 14 meetings)

Chair of the Board of Global Compact Network Japan, a General Incorporated Association (Japan Local Network, United Nations Global Compact)

Mr. Yoshinori Isozaki has worked in the areas of business development, overseas business, and corporate planning, among others, since he joined the Company and has considerable business experience and deep insight in the management of the Group. Since taking office as President & CEO of the Company in 2015, he has realized the structural reform of the Group centered on (i) strengthening and growing profit base in the beer business, one of the Company's core businesses, and (ii) restructuring and revitalizing low-profit businesses. Further, he has ensured to promote management reform including enhancement of corporate governance. After assuming the position of Representative Director of the Board & CEO in 2024, under the new management structure of CEO and COO, he has demonstrated strong leadership in the steady

progress of the Group's portfolio transformation and led the Group's business recovery and

regrowth. For the reasons above, the Board has determined that he is a suitable candidate to carry out the tasks needed for realizing the Company's Long-Term Management Vision "Innovate2035!" toward continuous improvement of corporate value and the Group's sustainable growth beyond that and overseeing the entire Kirin Group.

No conflict of interests exists between the Company and Mr. Yoshinori Isozaki.

No. 2 Takeshi Minakata

100%

(14 times of 14 meetings)

Mr. Takeshi Minakata has worked in the areas of production, corporate planning, and overseas business since he joined the Company, and has considerable business experience and deep insight in the management of the Group. He served as President of Health Science Division since taking office as Director of the Board of the Company in 2022, and has made a great contribution in structural reform and management reform of the Group by managing Overseas Business and building the foundations for growth in the Domestic and International Health Science domain. Additionally, after assuming the position of Representative Director of the Board, President & COO in 2024, he has overseen the execution of the Group, and led the management team to

improve the competitiveness of each business within the Group and to achieve growth in the

Health Sciences domain. For the reasons above, the Board has determined that he is a suitable candidate to carry out the tasks needed for realizing the Company's Long-Term Management Vision "Innovate2035!" toward continuous improvement of corporate value and the Group's sustainable growth beyond that and overseeing the entire Kirin Group.

No conflict of interests exists between the Company and Mr. Takeshi Minakata.

No. 3 Junko Tsuboi

100%

(14 times of 14 meetings)

Profile, title and responsibilities

Ms. Junko Tsuboi has worked in the areas of manufacturing technology, marketing, public relations, corporate branding and diversified business, among others, since she joined the Company, and has considerable business experience and deep insight in the management of the Group. She was responsible for marketing strategy and brand strategy after taking office as Senior Executive Officer of the Company in 2019 and was responsible for personnel and general affairs since 2022, through promotion of human capital strategies aligned with long term management plan. She has taken office as Director in 2023, and she has made a great contribution towards management reform of the Group such as strengthening corporate governance, bringing the perspective of diversity in the management team from 2024 as Director and Senior Executive Vice President for Group Human Capital Management and Legal. For the reasons above, the Board has determined that she is a suitable candidate to carry out the tasks needed for realizing the Company's Long-Term Management Vision "Innovate2035!" toward continuous improvement

of corporate value and the Group's sustainable growth beyond that and overseeing the entire Kirin

Group.

No conflict of interests exists between the Company and Ms. Junko Tsuboi.

No. 4 Toru Yoshimura

Candidate for Reelection

100%

(14 times of 14 meetings)

Mr. Toru Yoshimura has worked in the areas of production, overseas business and alliance strategies since he joined the Company, and has considerable business experience and deep insight in the management of the Group. He served as General Manager of Corporate Planning Dept. of the Company and promoted building the foundations for growth in the Health Sciences domain since taking office as Senior Executive officer in 2019 and he led the expansion of Health Science domain in addition to the existing business of Kirin Beverage Company, Limited since taking office as President & CEO of Kirin Beverage Company, Limited in 2022. Additionally, after taking office as Director in 2024, he has made a great contribution to establish the new business portfolio of the Group as President of Health Science Business Division. For the reasons above, the Board has determined that he is a suitable candidate to carry out the tasks needed for realizing the Company's Long-Term Management Vision "Innovate2035!" toward continuous

improvement of corporate value and the Group's sustainable growth beyond that and overseeing

the entire Kirin Group.

No conflict of interests exists between the Company and Mr. Toru Yoshimura.

No. 5 Shinjiro Akieda

Candidate for Reelection

100%

(14 times of 14 meetings)

Director of LION PTY LTD

Mr. Shinjiro Akieda has worked in the areas of sales and overseas business, including promoting profit structure reforms as General Managers of Corporate Planning Depts. of three major domestic subsidiaries in the food field, since he joined the Company, and has considerable business experience and deep insight in the management of the Group. He served not only as General Manager of Corporate Planning Dept. of the Company but also built the foundation of

the DX strategy since taking office of Senior Executive Officer of the Company in 2022. He has

been responsible for Financial Strategy and IR since 2023, and promoted appropriate capital management policy and executed disciplined investments. He has made a great contribution in structural reform and management reform of the Group after taking office as Director in 2024. For the reasons above, the Board has determined that he is a suitable candidate to carry out the tasks needed for realizing the Company's Long-Term Management Vision "Innovate2035!" toward continuous improvement of corporate value and the Group's sustainable growth beyond that and overseeing the entire Kirin Group.

No conflict of interests exists between the Company and Mr. Shinjiro Akieda.

No. 6 Hiroyuki Yanagi

Candidate for Independent Officer

100%

(14 times of 14 meetings)

Outside Director, AGC Inc.

Outside Director, Japan Airlines Co., Ltd. Outside Director, Mitsubishi Electric Corporation

Mr. Hiroyuki Yanagi has considerable experience acquired over many years as a corporate executive. He has a wide range of knowledge and particularly highly specialized expertise in brand development in the global market through technological development and innovation through his experience as President, Chief Executive Officer and Representative Director, and Chairman and Representative Director of Yamaha Motor Co., Ltd.. Based on this, we expect him to provide valuable opinions and suggestions to the management of the Company from an objective and professional perspective as an Independent Non-executive Director. For the reasons above, the Board has determined that he is a suitable candidate to oversee business execution of the Company toward continuous improvement of corporate value.

1. No conflict of interests exists between the Company and Mr. Hiroyuki Yanagi.

2. Mr. Hiroyuki Yanagi is a candidate for the position of Non-executive Director.

3. As of the close of this Ordinary General Meeting of Shareholders, Mr. Hiroyuki Yanagi has served 7 years as a Non-executive Director since his election.

4. At Mitsubishi Electric Corporation, where Mr. Hiroyuki Yanagi is serving as an Outside Director, inappropriate quality-related practices at several manufacturing sites were discovered in and after April 2021 and was issued a business suspension order and a business improvement order by the Ministry of Internal Affairs and Communications in respect of the Radio Act in March 2023.

   Although he was not aware of this fact in advance, which came to light after his appointment as Director of Mitsubishi Electric Corporation in June 2022, he regularly cautioned about the importance of compliance and its thoroughness in the Board, etc. In addition, after the discovery of this fact, he has been fulfilling his responsibilities by instructing measures to prevent recurrence, among others.

5. The Company has designated Mr. Hiroyuki Yanagi as an independent officer in accordance with the provisions of the Tokyo Stock Exchange, Inc., and filed a notification about him with the Exchange. If he is reappointed as a Non-executive Director of the Board, the Company will continuously file a notification about him as an independent officer with the Exchange.

No. 7 Noriko Shiono

Candidate for Independent Officer

100%

(14 times of 14 meetings)

Outside Director of JAPAN POST HOLDINGS Co., Ltd. Outside Director of Bengo4.com, Inc.

Ms. Noriko Shiono has considerable experience and a wide range of knowledge acquired over many years as a corporate executive. She has exceptional insight in corporate management and marketing based on her specialized expertise in pharmaceuticals and healthcare strategy as a Representative Director, President of SSP Co., Ltd., and as President of Widex Japan, a medical device manufacturer. Based on this, we expect her to provide valuable opinions and suggestions from an objective and professional perspective to the management of the Company as an Independent Non-executive Director, particularly for the Company to grow businesses in Health Science domain. For the reasons above, the Board has determined that she is a suitable candidate to oversee business execution of the Company toward continuous improvement of corporate value.

1. No conflict of interests exists between the Company and Ms. Noriko Shiono.

2. Ms. Noriko Shiono is a candidate for the position of Non-executive Director.

3. As of the close of this Ordinary General Meeting of Shareholders, Ms. Noriko Shiono has served 6 years as a Non-executive Director since her election.

4. Ms. Noriko Shiono was a Non-executive Director of Kirin Company, Limited for 1 year from March 2018 to March 2019.

5. Japan Post Co., Ltd., a subsidiary of JAPAN POST HOLDINGS Co., Ltd., where Ms. Noriko Shiono serves as an Outside Director, received administrative dispositions from the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) in June 2025, including the revocation of permission for its general motor truck transportation business, in relation to incidents of unperformed roll calls that occurred at post offices. Although she was not aware of the fact in

   advance, she regularly cautioned about the importance of compliance and its thoroughness in the Board, etc. In addition, after the discovery of this fact, she has been fulfilling her responsibilities by instructing on measures to prevent recurrence, among others.

6. The Company has designated Ms. Noriko Shiono as an independent officer in accordance with the provisions of the Tokyo Stock Exchange, Inc., and filed a notification about her with the Exchange. If she is reappointed as a Non-executive Director of the Board, the Company will continuously file a notification about her as an independent officer with the Exchange. As a result of the abolition of the Board of Directors of Kirin Company, Limited, she assumed the position of Strategic Advisor, which is equivalent to a Non-executive Director of the Company for 1 year from March 2019 to March 2020. The Company has determined that her appointment will not affect the Company's independence.

No. 8 Shinya Katanozaka

Candidate for Independent Officer

93%

(13 times of 14 meetings)

Director of the Board, Chairman of the Board of Directors, ANA HOLDINGS INC. Outside Director, Tokio Marine Holdings, Inc.

Mr. Shinya Katanozaka has considerable experience and a wide range of knowledge acquired over many years as a corporate executive. He has exceptional insight in promoting internationalization of management and diversity, fostering new businesses, brand strategy, and human resources and organization through his experience as a Representative Director, President & Chief Executive Officer, and Chairman of the Board of Directors of ANA HOLDINGS INC. Based on this, we expect him to provide valuable opinions and suggestions from an objective and professional perspective to the management of the Company as an Independent Non-executive Director. For the reasons above, the Board has determined that he is a suitable candidate to oversee business execution of the Company toward continuous improvement of corporate value.

1. No conflict of interests exists between the Company and Mr. Shinya Katanozaka.

2. Mr. Shinya Katanozaka is a candidate for the position of Non-executive Director.

3. As of the close of this Ordinary General Meeting of Shareholders, Mr. Shinya Katanozaka has served 3 years as a Non-executive Director since his election.

4. Tokio Marine & Nichido Fire Insurance Co., Ltd., a subsidiary of Tokio Marine Holdings, Inc., where Mr. Shinya Katanozaka serves as an outside director, was issued a business improvement order from the Financial Services Agency in respect of the Insurance Business Act due to the adjustments of insurance premium with other companies, etc. in December 2023, and was issued a written cease and desist order and a written surcharge payment order from the Fair Trade Commission pursuant to the

   Act on Prohibition of Private Monopolization and Maintenance of Fair Trade in November 2024. Furthermore, in March 2025, the company was issued a business improvement order from the Financial Services Agency in respect of the Insurance Business Act due to leaking customer information, etc. Although he was not aware of the fact in advance, he regularly cautioned about the importance of compliance and its thoroughness in the Board, etc. In addition, after the discovery of this fact, he has been fulfilling his responsibilities by instructing measures to prevent recurrence, among others.

5. The Company has designated Mr. Shinya Katanozaka as an independent officer in accordance with the provisions of the Tokyo Stock Exchange, Inc., and filed a notification about him with the Exchange. If he is reappointed as a Non-executive Director of the Board, the Company will continuously file a notification about him as an independent officer with the Exchange.

No. 9 Yoshiko Ando

93%

(13 times of 14 meetings)

Outside Director of Sansei Technologies, Inc. Outside Director of JFE Holdings, Inc.

Ms. Yoshiko Ando, as a government official, has been engaged over many years in policy planning in labor administration and has highly specialized expertise, considerable experience, and a high level of insight in a wide range of fields of employment and labor including promotion of women's participation and advancement. Based on this, we expect her to provide valuable opinions and suggestions to the management of the Company from an objective and professional perspective as an Independent Non-executive Director. For the reasons above, the Board has

determined that she is a suitable candidate to oversee business execution of the Company toward

continuous improvement of corporate value.

1. No conflict of interests exists between the Company and Ms. Yoshiko Ando.

2. Ms. Yoshiko Ando is a candidate for the position of a Non-executive Director.

3. Ms. Yoshiko Ando has never been involved in the management of a company except for serving as a Non-executive Director or an Audit & Supervisory Board Member. However, as stated in the reasons for nomination above, the Company believes that she will be able to appropriately execute her duties as a Non-executive Director.

4. Ms. Yoshiko Ando was an Audit & Supervisory Board Member of the Company for 5 years from March 2019 to March 2024.

5. As of the close of this Ordinary General Meeting of Shareholders, Ms. Yoshiko Ando has served 2 years as a Non-executive Director since her election.

6. The Company has designated Ms. Yoshiko Ando as an independent officer in accordance with the provisions of the Tokyo Stock Exchange, Inc., and filed a notification about her with the Exchange. If she is reappointed as a Non-executive Director of the Board, the Company will continuously file a notification about her as an independent officer with the Exchange.

No. 10 Shingo Konomoto

Candidate for Independent Officer

100%

(12 times of 12 meetings)

April 1985

June 2015

April 2016

June 2019

April 2024

June 2024

March 2025

Joined Nomura Research Institute, Ltd.

Representative Director, Senior Executive Managing Director of Nomura Research Institute, Ltd.

Representative Director, President & CEO of Nomura Research Institute, Ltd.

Representative Director, Chairman of the Board of Directors and President & CEO of Nomura Research Institute, Ltd.

Representative Director, Chairman of the Board of Directors of Nomura Research Institute, Ltd.

Director of the Board, Chairman of the Board of Directors of Nomura Research Institute, Ltd. (Present Position)

Outside Director of Sony Group Corporation (Present Position) Non-executive Director of the Company (Present Position)

Director of the Board, Chairman of the Board of Directors of Nomura Research Institute, Ltd. Outside Director of Sony Group Corporation

Mr. Shingo Konomoto has considerable experience and a wide range of knowledge acquired over many years as a corporate executive. He has exceptional insight in overseas businesses, M&A, IR, and ICT/DX through his experience as Representative Director, President & CEO and Chairman of the Board of Directors of Nomura Research Institute, Ltd. Based on this, we expect him to provide valuable opinions and suggestions from an objective and professional perspective to the management of the Company as an Independent Non-executive Director. For the reasons above, the Board has determined that he is a suitable candidate to oversee business execution of the Company toward continuous improvement of corporate value.

1. No conflict of interests exists between the Company and Mr. Shingo Konomoto.

2. Mr. Shingo Konomoto is a candidate for the position of Non-executive Director.

3. As of the close of this Ordinary General Meeting of Shareholders, Mr. Shingo Konomoto has served 1 year as a Non-executive Director since his election.

4. As for the attendance at the Board Meetings, the Board Meetings applicable to him are only those that were held after his appointment on March 28, 2025.

5. The Company has designated Mr. Shingo Konomoto as an independent officer in accordance with the provisions of the Tokyo Stock Exchange, Inc., and filed a notification about him with the Exchange. If he is reappointed as a Non-executive Director of the Board, the Company will continuously file a notification about him as an independent officer with the Exchange. Although there is a payment of outsourcing fees by the Company and subsidiaries of the Company to Nomura

Research Institute, Ltd., where he serves as Director of the Board and Chairman of the Board of Directors, the amount of payment to Nomura Research Institute, Ltd. during this fiscal year is less than 1% of its consolidated revenue. Therefore, we believe that Mr. Shingo Konomoto has sufficient independence where there is no possibility of conflict of interests with general shareholders.

No. 11 Naoko Mikami

Candidate for Independent Officer

100%

(12 times of 12 meetings)

Outside Director of Showa Sangyo Co., Ltd. Outside Director of Earth Corporation Outside Director of Kuraray Co., Ltd.

Ms. Naoko Mikami has considerable experience and a wide range of knowledge acquired over many years as a corporate executive in health science-related companies. She has exceptional insight in research and production areas, and cosmetics business. Based on this, we expect her to provide valuable opinions and suggestions from an objective and professional perspective to the management of the Company as an Independent Non-executive Director. For the reasons above, the Board has determined that she is a suitable candidate to oversee business execution of the Company toward continuous improvement of corporate value.

1. No conflict of interests exists between the Company and Ms. Naoko Mikami.

2. Ms. Naoko Mikami is a candidate for the position of Non-executive Director.

3. As of the close of this Ordinary General Meeting of Shareholders, Ms. Naoko Mikami has served 1 year as a Non-executive Director since her election.

4. As for the attendance at the Board Meetings, the Board Meetings applicable to her are only those that were held after her appointment on March 28, 2025.

5. The Company has designated Ms. Naoko Mikami as an independent officer in accordance with the provisions of the Tokyo Stock Exchange, Inc., and filed a notification about her with the Exchange. If she is reappointed as a Non-executive Director of the Board, the Company will continuously file a notification about her as an independent officer with the Exchange.

No. 12 Kenichi Fujinawa

Candidate for Independent Officer

100%

(14 times of 14 meetings)

Attorney at Law, Fujinawa Law Office

Mr. Kenichi Fujinawa served as a Managing Partner and Chairman of a major law firm for many years as an attorney, and has highly specialized expertise and a wealth of experience in corporate legal affairs overall, centering on M&A, international transactions and corporate governance. In addition, as an Independent Audit & Supervisory Board Member of the Company, he has properly audited business execution of the Directors of the Company through his activities such as making instructive statements from an objective standpoint at the Board Meetings and Audit & Supervisory Board Meetings. Based on this, we expect him to provide valuable opinions and suggestions to the management of the Company from an objective and professional perspective as an Independent Non-executive Director. For the reasons above, the Board has determined that he is a suitable candidate to oversee business execution of the Company toward continuous improvement of corporate value.

1. No conflict of interests exists between the Company and Mr. Kenichi Fujinawa.

2. Mr. Kenichi Fujinawa is a candidate for the position of Non-executive Director.

3. Mr. Kenichi Fujinawa has never been involved in the management of a company except for serving as a Non-executive Director or an Audit & Supervisory Board Member. However, as stated in the reasons for nomination above, the Company believes that he will be able to appropriately execute his duties as a Non-executive Director.

4. As of the close of this Ordinary General Meeting of Shareholders, Mr. Kenichi Fujinawa has served 4 years as an Audit & Supervisory Board Member since his election. He is scheduled to resign from the position of Audit & Supervisory Board Member upon the close of this Ordinary General Meeting of Shareholders due to the expiration of his term of office.

5. As for the attendance at the Board Meetings, the attendance applicable to him refers to the Board Meetings he attended as an Audit & Supervisory Board Member.

6. The Company has designated Mr. Kenichi Fujinawa as an independent officer in accordance with the

provisions of the Tokyo Stock Exchange, Inc., and filed a notification about him with the Exchange. If he is elected and appointed as a Non-executive Director of the Board, the Company will continuously file a notification about him as an independent officer with the Exchange. Although there are transactions regarding legal advice between the Company and Nagashima Ohno & Tsunematsu Law Firm, where he served as Managing Partner and Chairman until December 2019, the amount of payment to the law firm during this fiscal year is less than 1% of the total revenue of the law firm. Therefore, we believe that he has sufficient independence where there is no possibility of conflict of interests with general shareholders.

Pursuant to Article 427, paragraph 1 of the Companies Act, the Company has entered into agreements with Mr. Hiroyuki Yanagi, Ms. Noriko Shiono, Mr. Shinya Katanozaka, Ms. Yoshiko Ando, Mr. Shingo Konomoto, Ms. Naoko Mikami and Mr. Kenichi Fujinawa to limit their liability under Article 423, paragraph 1 of the Companies Act, and the maximum amount of liability under such agreements is the minimum liability amount stipulated by Article 425, paragraph 1 of the Companies Act. If each of them is elected and assumes office as Director of the Board, the Company plans to continue such agreements.

Pursuant to Article 430-2, paragraph 1 of the Companies Act, the Company has entered into indemnification agreements with Mr. Yoshinori Isozaki, Mr. Takeshi Minakata, Ms. Junko Tsuboi, Mr. Toru Yoshimura, Mr. Shinjiro Akieda, Mr. Hiroyuki Yanagi, Ms. Noriko Shiono, Mr. Shinya Katanozaka, Ms. Yoshiko Ando, Mr. Shingo Konomoto, Ms. Naoko Mikami and Mr. Kenichi Fujinawa under which the Company will indemnify each of them for the expenses referred to in Article 430-2, paragraph 1, item (i) of the Companies Act and the losses referred to in item (ii) of the same paragraph to the extent permitted by laws and regulations. If each of them is elected and assumes office as Director of the Board, the Company plans to continue such agreements.

• The Company has entered into Directors and Officers liability insurance contracts with an insurance company as provided in Article 430-3, paragraph 1 of the Companies Act (hereinafter referred to as "D&O Insurance"), wherein the insured persons include Directors of the Board, Audit & Supervisory Board Members, Executive Officers, etc. of the Company and its subsidiaries. An outline of the contents of the D&O Insurance is as described on page 65.

• If each candidate is elected and assumes office as Director of the Board, all the Directors of the Board will be insured by the D&O insurance.

• The term of the D&O insurance is 1 year and it is scheduled to be renewed by resolution of the Board prior to the expiration of the term.

  Proposal No. 3: Election of two (2) Audit & Supervisory Board Members

  Upon the close of this Ordinary General Meeting of Shareholders, the terms of office of Audit & Supervisory Board Members Mr. Shobu Nishitani and Mr. Kenichi Fujinawa will expire.

  Accordingly, shareholders are requested to elect two (2) Audit & Supervisory Board Members. This proposal has already obtained consent of the Audit & Supervisory Board.

  
  
  

  The candidates for the positions of Audit & Supervisory Board Member are as follows: No. 1 Hajime Kobayashi

  New Candidate Date of birth July 5, 1965

  (Age: 60)

  Number of the Company's shares held 13,036 shares Profile and title

  April 1989	Joined the Company
  April 2011	Director of Planning Dept. of Interfood Shareholding Company
  March 2020	General Manager of Internal Audit Dept. of the Company
  March 2022 March 2024	Executive Officer, General Manager of Internal Audit Dept. of the Company Outside Audit & Supervisory Board Member (Full-time) of Kyowa Kirin Co., Ltd. (Present Position)

  Significant positions concurrently held at other companies and organizations

  Outside Audit & Supervisory Board Member (Full-time) of Kyowa Kirin Co., Ltd.

  Reasons for nomination as a candidate for Audit & Supervisory Board Member

  Mr. Hajime Kobayashi has worked in the areas of finance, accounting, overseas business, and internal audit at the Company and its subsidiaries since he joined the Company, and has considerable business experience and deep insight in finance and accounting, etc. In 2022, he assumed office as General Manager of Internal Audit Department of the Company, and since 2024, he has served as Outside Audit & Supervisory Board Member (Full-time) of Kyowa Kirin Co., Ltd., appropriately fulfilling his respective roles. For the reasons above, the Board has determined that he is a suitable candidate to audit business execution of the Directors of the Board toward continuous improvement of corporate value as an Audit & Supervisory Board Member.

  Notes:

  1. No conflict of interests exists between the Company and Mr. Hajime Kobayashi.

  2. If Mr. Hajime Kobayashi is elected and appointed as an Audit & Supervisory Board Member, he is scheduled to be selected as a Standing Audit & Supervisory Board Member at the Audit & Supervisory Board meeting to be held after the close of this Ordinary General Meeting of Shareholders.

  3. Mr. Hajime Kobayashi is scheduled to resign from the position of Audit & Supervisory Board Member of Kyowa Kirin Co., Ltd. upon the close of the 103rd Ordinary General Meeting of Shareholders of Kyowa Kirin Co., Ltd. to be held in March 2026.

  No. 2 Tim Lester

  
  
  Profile and title

  New Candidate

Candidate for Independent Officer

Date of birth August 9, 1968

(Age 57)

Chairman of the Board of Directors of Jameson Boyce Partners Pty Ltd Director of Bia Energy Solutions Ltd

Mr. Tim Lester has considerable international experience in Australia and Asia including Japan and exceptional insight in corporate governance, government relations, trade and investment and international transactions acquired as a lawyer, board director and as a corporate advisor. In addition, since he has served as Director of Australia Japan Business Co-operation Committee (AJBCC) over many years, and recently he serves as Chair of Clean Energy Transition Committee of AJBCC, he has a deep understanding of the economies and markets of Japan and other Asia-Pacific countries, and has built an expansive network. Based on this, we expect him to provide valuable opinions and suggestions from an objective and professional perspective to the management of the Company as an Independent Audit & Supervisory Board Member. For the reasons above, the Board has determined that he is a suitable candidate to audit business execution of the Company toward continuous improvement of corporate value.

1. No conflict of interests exists between the Company and Mr. Tim Lester.

2. Mr. Tim Lester is a candidate for Audit & Supervisory Board Member.

3. If Mr. Tim Lester is elected and appointed as an Audit & Supervisory Board Member, the Company will designate him as an independent officer in accordance with the provisions of the Tokyo Stock Exchange, Inc., etc., and file a notification about him with the Exchange.

4. Mr. Tim Lester's name will be shown as "Timothy David Baird Lester" in the commercial registration.

If Mr. Hajime Kobayashi and Mr. Tim Lester are elected and assume office as Audit & Supervisory Board Members, the Company plans to enter into agreements with each of them, pursuant to Article 427, paragraph 1 of the Companies Act, to limit the liability for damages stipulated in Article 423, paragraph 1 of the Companies Act. The liability limit based on the contract is the minimum liability amount stipulated in Article 425, paragraph 1 of the Companies Act.

If Mr. Hajime Kobayashi and Mr. Tim Lester are elected and assume office as Audit & Supervisory Board Members, the Company plans to enter into indemnification agreements with each of them pursuant to Article 430-2, paragraph 1 of the Companies Act, under which the Company will indemnify each of them for the expenses referred to in item (i) of the same paragraph and the losses referred to in item (ii) of the same paragraph to the extent permitted by laws and regulations.

• The Company has entered into Directors and Officers liability insurance contracts with an insurance company as provided in Article 430-3, paragraph 1 of the Companies Act (hereinafter referred to as "D&O Insurance"), wherein the insured persons include Directors of the Board, Audit & Supervisory Board Members, Executive Officers, etc. of the Company and its subsidiaries. An outline of the contents of the D&O Insurance is as described on page 65.

• If each candidate is elected and assumes office as Audit & Supervisory Board Member, all the Audit& Supervisory Board Members will be insured by the D&O insurance.

• The term of the D&O insurance is 1 year and it is scheduled to be renewed by resolution of the Board prior to the expiration of the term.

  (Reference)

  Major Reorganizations of the Company

• In July 2007, the Company changed its former name, Kirin Brewery Company, Limited, to Kirin Holdings Company, Limited, and became a pure holding company, while the Company's domestic alcoholic beverages business was transferred to a separate company through a corporate split. The separate company was renamed Kirin Brewery Company, Limited.

• In January 2013, the administration function of the Japan Integrated Beverages Business of the Company was transferred to Kirin Company, Limited, through a corporate split. Kirin Company, Limited was liquidated in July 2019 as a result of an absorption-type merger, whereby the Company became only surviving entity.