Notice of Convocation of the 101st Ordinary General Meeting of Shareholders

To Our Shareholders

Securities Code: 5632 (Start date of measures for electronic provision): May 23, 2025

(Date of issue): June 5, 2025

16-13, Tsukishima 4-chome, Chuo-ku, Tokyo

Jun Yamaguchi, Representative Director

President & CEO

You are cordially informed that the 101st Ordinary General Meeting of Shareholders of the Company will be held as described below.

When the Company convenes the general meeting of shareholders, it takes measures for electronically providing information contained in the Reference Documents, etc. for the General Meeting of Shareholders (the matters for which measures for providing information in electronic format are to be taken), which is posted on the website of the Company as "Notice of Convocation of the 101st Ordinary General Meeting of Shareholders" and "Matters Excluded from Paper-Based Documents Delivered to Shareholders." Please access the website of the Company below for your review.

[The Company's website] https://www.mitsubishisteel.co.jp/english/ir/stock/shareholders-meeting/

The matters for which measures for providing information in electronic format are to be taken are posted on the website above and the website of the Tokyo Stock Exchange (TSE). Please access TSE's website below (Listed Company Search) and enter the name of the stock (issue name) "Mitsubishi Steel" or security code (5632), select "Basic information" and then "Documents for public inspection/PR information," and click the button in the section entitled "Notice of Convocation of the General Meeting of Shareholders/Materials for General Meetings of Shareholders" under the heading "Documents for public inspection" to confirm.

https://www2.jpx.co.jp/tseHpFront/JJK020010Action.do?Show=Show

When you are not going to attend the meeting, please exercise your voting rights in writing or via the Internet. You are cordially asked to read the reference document for the general meeting of shareholders. We kindly ask you to exercise voting rights no later than Thursday, June 19, 2025, 5:40 p.m.

1. Date and Time: Friday, June 20, 2025 at 10:00 a.m.
2. Venue: 1-1 Hayabusacho, Chiyoda-ku, Tokyo

   4F (Fuji nishi no ma), Hotel Grand Arc Hanzomon

3. Agenda of the Meeting:

the 101st Fiscal Year (from April 1, 2024 to March 31, 2025), results of audits of the Consolidated Financial Statements by the Accounting Auditor and the Board of Corporate Auditors

(2) Report of Non-consolidated Financial Statements for the 101st Fiscal Year (from April 1, 2024 to March 31, 2025)

• Pursuant to the provisions of laws and regulations and the Articles of Incorporation, the following matters are not listed on the paper-based documents to be sent to shareholders who requested the delivery of paper-based documents.

  1. Basic Policy for Internal Controls and Its Implementation Status

  2. Notes to the Consolidated Financial Statements

  3. Notes to the Non-consolidated Financial Statements

     Therefore, the paper-based documents to be delivered to those shareholders are part of the relevant documents audited by the Corporate Auditors and the Accounting Auditor to prepare the audit report.

• We will announce modifications, if any, to the matters for which measures for providing information in electronic format are to be taken, as well as the matters before and after the modification, on the website of the Company and Tokyo Stock Exchange listed above.

• The English translation of this Notice of Convocation of the General Meeting of Shareholders, the Basic Policy for Internal Controls and Its Implementation Status, the Notes to the Consolidated Financial Statements, and the Notes to the Non-consolidated Financial Statements are also posted on the Company's website.

• Please note that the "Notice of Resolutions" will be posted on the Company's website after the General Meeting of Shareholders.

• If you exercised your voting rights in writing (postal mail) and did not indicate your vote for or against proposals, it will be deemed that you approved them.

• If you vote both in writing (postal mail) on the Voting Rights Exercise Form and via the Internet, only the vote you submitted via the Internet will be valid. If you submit your vote multiple times via the Internet, only the last vote will be valid.

• If there are significant changes in the operation of the general meeting of shareholders, they will be posted on the website of the Company.

(https://www.mitsubishisteel.co.jp/english/ir/stock/shareholders-meeting/)

Voting rights at a General Meeting of Shareholders are important rights of shareholders. You are cordially asked to exercise voting rights. You may exercise voting rights by any of the following three methods.

You can log in to the voting right execution website without entering the login ID and tentative password listed on the voting right execution form.

1. Please read the QR code listed on the voting right execution form.

   *"QR code" is a registered trademark of DENSO WAVE INCORPORATED.

2. Please follow the instructions on the screen to indicate your approval or disapproval.

Voting right execution website: https://evote.tr.mufg.jp/ (in Japanese)

1. Please access to the voting right execution website.

2. Enter the login ID and tentative password on the voting right execution form and click [Login].

3. Please follow the instructions on the screen to indicate your approval or disapproval.

Please indicate your approval or disapproval of each of the proposals in the enclosed Voting Right Exercise Form and return it by mail without postage stamp.

Please submit the enclosed Voting Right Exercise Form to the receptionist at the Meeting.

Institutional investors may use the institutional investor platform for the electronic exercise of voting rights operated by ICJ Inc. as a means of exercising your voting rights.

• Exercise of voting rights via the Internet is not enabled from 2:30 a.m. to 4:30 a.m. each day.

• It should be noted that Internet connection and communication charges incurred for accessing the voting rights exercise site will be at the expense of the shareholder.

The Group's view is that returning profit to shareholders is one of the most important measures. In February 2024, we reviewed the dividend policy, and set the minimum value (an annual dividend of 60 yen per share) for the period of the current Mid-term Business Plan (from the fiscal year ended March 2024 to the fiscal year ending March 2026), in addition to the existing dividend payout ratio of 30%. Furthermore, in November 2024, we increased the minimum value for the current fiscal year (an annual dividend of 64 yen per share).

Regarding the year-end dividend for the current fiscal year, we would like to propose a dividend of 34 yen per share, since we have paid an interim dividend of 30 yen per share.

Matters concerning the year-end dividend

1. Type of dividend property Cash

2. Matters concerning allocation of dividend property and total amount thereof 34 yen per share Total amount: ¥524,849,806

3. Effective date of dividends June 23, 2025