Mitsubishi Logisnext : NOTICE OF THE 123RD 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 7, 2024

To Shareholders with Voting Rights:

Yuichi Mano

Director and President

Mitsubishi Logisnext Co., Ltd.

2-1-1,Higashi-kotari,

Nagaokakyo City, Kyoto, Japan

NOTICE OF

THE 123RD ANNUAL GENERAL MEETING OF SHAREHOLDERS

Dear Shareholders:

We are pleased to notify you that the 123rd Annual General Meeting of Shareholders of Mitsubishi Logisnext Co., Ltd. (the "Company") will be held for the purposes as described below.

In convening this General Meeting of Shareholders, the Company has taken measures for electronic provision of information contained in the Reference Documents for the General Meeting of Shareholders, etc. (matters to be provided electronically). The information is posted on the Company's website on the internet. Please access the following website to find the information.

The Company's website: https://www.logisnext.com/en/

(Please access the above website and select "Investors" to find the information.)

In addition to the Company's website, matters to be provided electronically are also posted on the Tokyo Stock Exchange (TSE) website and the website for posting shareholder meeting materials. Please find them below.

Tokyo Stock Exchange website (Listed Company Search service): https://www2.jpx.co.jp/tseHpFront/JJK020010Action.do?Show=Show

(Please access the TSE website above, enter "Issue name (company name)" or "Code," search, select "Basic information" and then "Documents for public inspection/PR information," and find the information under "Notice of General Shareholders Meeting /Informational Materials for a General Shareholders Meeting" in "Filed information available for public inspection.")

Website for posting shareholder meeting materials https://d.sokai.jp/7105/teiji/ (in Japanese)

If you are unable to attend this meeting, please review the attached "Reference Documents for the General Meeting of Shareholders" and exercise your voting rights by electromagnetic means (via the internet) or in writing (by postal mail) in advance. When exercising voting rights in advance, please refer to the attached "Reference Documents for the General Meeting of Shareholders" and exercise your voting rights by 4:50 p.m. on Tuesday, June 25, 2024, Japan time.

1. Date and Time: Wednesday, June 26, 2024 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

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3. Agenda:

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

123rd Fiscal Year (April 1, 2023 - March 31, 2024) 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 123rd Fiscal Year (April 1, 2023 - March 31, 2024)

Proposals to be resolved:

Proposal 1: Dividend of Surplus

Proposal 2: Election of Seven (7) Directors

Proposal 3: Election of Two (2) Audit and Supervisory Board Members

Proposal 4: Election of One (1) Substitute Audit and Supervisory Board Member

• When attending the meeting, please submit the enclosed Voting Rights Exercise Form at the reception desk.
• If you exercise your voting rights in writing (by postal mail) and do not indicate your vote for or against a proposal on the Voting Rights Exercise Form, we will deem that you have voted for the proposal.
• Should the matters to be provided electronically require revisions, the revised versions will be posted on the above websites.
• Of the matters to be provided electronically, "Matters Concerning Share Option, etc. of the Company," "Systems to Ensure Proper Business Operations and Implementation Status of Such Systems" and "Corporate Governance Structure of the Company" of the Business Report, "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 not included in the paper copy to be sent to shareholders who have requested it, in accordance with provisions of laws and regulations as well as the Company's Articles of Incorporation. The paper copy to be sent to shareholders who have requested it is therefore part of the documents that were audited by the Audit and Supervisory Board Members and the Accounting Auditor in preparing the audit report.
• If you wish to make a diverse exercise of your voting rights, please notify the Company of your intention and the reason therefor not later than three (3) days before the Annual General Meeting of Shareholders.
• The resolution results for this General Meeting of Shareholders will be posted on the Company's website.
• If you need a staff member to assist with your wheelchair, accompany you to your seat or the restroom, communicate by writing at the reception, or provide other forms of assistance, please let us know in advance.

*To provide a deeper understanding of the Company for our shareholders, we are planning a guided tour of our Automation Demo Center following this 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 refer to 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.

• Exercise voting rights via the internet

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

Deadline: Tuesday, June 25, 2024 at 4:50 p.m., Japan time (Your votes must be entered by the deadline above.)

• 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: Tuesday, June 25, 2024 at 4:50 p.m., Japan time (Your mail must arrive by the deadline above.)
• Attend the General Meeting of Shareholders
  Please submit the enclosed Voting Rights Exercise Form at the reception desk.
  Wednesday, June 26, 2024 at 10 a.m. (Reception opens at 9 a.m.)

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.

For the fiscal year ended March 31, 2024, it is proposed that year-end dividends be distributed as follows, in light of the performance for the fiscal year and business development going forward.

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

Common stock of the Company: 20 yen per share

Total amount:

2,133,194,760 yen

3. Date that the dividend of surplus becomes effective June 27, 2024

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Proposal 2: Election of Seven (7) Directors

The terms of office of all seven (7) Directors will expire at the conclusion of this year's Annual General Meeting of Shareholders. Accordingly, the election of seven (7) Directors is proposed.

The candidates are as follows:

No.			Name				Positions and responsibilities
1			Takashi				Representative Director and
	Reappointment
	Mikogami				Chairman
2			Yuichi Mano				Representative Director and
	Reappointment
				President
							Director
							Senior Executive Officer
			Takatoshi Uno				CFO, Division Head, General
3		Reappointment				Manager, Corporate Strategy and
							Planning Office
							In charge of Corporate Finance
							and Accounting Headquarters
4			Masayuki				Director
	Reappointment
	Suematsu
5			Osamu Ando	External Director		Director
	Reappointment	Independent Director
			Kyoko
6			External Director		Director
	Reappointment	Kobayashi	Independent Director
			Fumio
7			External Director		Director
	Reappointment	Kobayashi	Independent Director

Significant concurrent positions

Executive Vice President and

CSO, Head of Business Strategy

Office, Mitsubishi Heavy

Industries, Ltd.

President, Shimadzu Access

Corporation

Lawyer, Partner, Irokawa Legal

Professional Corporation

External Audit and Supervisory

Board Member, Kawakami Paint

Manufacturing Co., Ltd.

External Director, Nippon Pillar

Packing Co., Ltd.

Adviser, Japan Material Flow

Institute

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No.	Name				Number of	Special interests
Brief career summary and important concurrent duties	shares owned	with the
(Date of birth)
				(Common stock)	Company
		Apr. 1981	Joined Mitsubishi Heavy Industries, Ltd.
		Apr. 2007	General Manager of Turbocharger Engineering
			Department, General Machinery & Special Vehicles
			Business Headquarters, Mitsubishi Heavy Industries, Ltd.
		Apr. 2010	Deputy Head of General Machinery & Special Vehicles
			Business Headquarters, Mitsubishi Heavy Industries, Ltd.
		Apr. 2011	General Manager of Turbocharger Business Department,
			General Machinery & Special Vehicles Business
			Headquarters, Mitsubishi Heavy Industries, Ltd.
	Takashi Mikogami	Apr. 2012	Deputy Head of General Machinery & Special Vehicles
		Business Headquarters, Mitsubishi Heavy Industries, Ltd.
	(March 19, 1956)	Apr. 2013	Director, the Company
			Senior Vice President, Mitsubishi Heavy Industries, Ltd.
	Reappointment	Apr. 2014	Senior General Manager of Quality Control Division,
			Deputy Head of the Machinery, Equipment &
			Infrastructure Domain, Mitsubishi Heavy Industries, Ltd.
		Apr. 2015	Head of Sagamihara Machinery Works, Mitsubishi
			Heavy Industries, Ltd.		30,528	None
		Apr. 2016	Executive Vice President, Mitsubishi Heavy Industries,
			Ltd.
		Jun. 2016	Senior Executive Vice President, Mitsubishi Heavy
			Industries Forklift, Engine & Turbocharger Holdings,
			Ltd.
1		Jan. 2017	Director, UniCarriers Corporation
	Jun. 2017	Representative Director, Senior Executive Vice
			President, Assistant to the President, the Company
		Oct. 2017	President and CEO, the Company
			Director, Mitsubishi Heavy Industries Forklift, Engine &
			Turbocharger Holdings, Ltd.
		Apr. 2020	Executive Vice President, President and CEO, Logistics,
			Thermal & Drive Systems, Mitsubishi Heavy Industries,
			Ltd.
		Jun. 2020	Resigned as President and CEO, the Company
		Jun. 2021	Representative Director and Chairman, the Company (to
			present)
	• Years of service as Director: 9
	• Attendance at Board of Directors meetings in fiscal year under review:	13 out of 13 meetings (100%)

[Reason for nomination as Director and summary of expected roles]

Mr. Takashi Mikogami has chaired meetings of the Board of Directors as Representative Director and Chairman, appropriately managing the Board of Directors while appropriately conducting decision making on important matters and management supervision. As Chair of the Nominating and Compensation Committee, he has also been striving to strengthen corporate governance by enhancing the transparency and fairness of officer nomination and compensation. In addition, he has been offering appropriate advice and supervising the management from a broad perspective, based on his abundant experience and excellent insight as a corporate manager and while contributing to the development of the entire industry in his capacity as Chairman of Japan Industrial Vehicles Association.

Based on the above, he is expected to contribute to achieving sustainable growth of the Company and enhancing corporate value. Therefore, we have nominated him again as a candidate for Director.

(Notes)

1. Mr. Takashi Mikogami has in the past been an executive of Mitsubishi Heavy Industries, Ltd., which is the parent of the Company. Positions and responsibilities which Mr. Takashi Mikogami has held in the past 10 years at Mitsubishi Heavy Industries, Ltd. are stated in the above "Brief career summary and important concurrent duties."
2. The Company has taken out the MHI Global Insurance, for which Mitsubishi Heavy Industries, Ltd., its parent, acts as the party to the insurance contract. The insurance policy includes a directors and officers liability insurance agreement provided for in Article 430-3, Paragraph 1 of the Companies Act, with all Directors and Audit and Supervisory Board Members named as the insured persons. The contract covers potential damages and expense payments to be borne by the insured persons arising from shareholder derivative actions, corporate lawsuits or third party litigation. However, the contract includes certain
3. • 6 -

exemption clauses, such as no compensation being given for liability attributable to acts in violation of laws or regulations that were committed with full knowledge of their illegality. All insurance premiums are borne by the Company. If the reappointment of the candidate is approved, the Company will continue to include the candidate as an insured person under the insurance contract. The Company plans to renew the insurance contract with the above details the next time it comes up for renewal.

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No.	Name				Number of	Special interests
Brief career summary and important concurrent duties	shares owned	with the
(Date of birth)
				(Common stock)	Company
		Apr. 1986	Joined Mitsubishi Heavy Industries, Ltd.
		Jul. 1996	Assistant to General Manager of Product Support,
			Mitsubishi Caterpillar Forklift America Inc.
		Apr. 2003	Chief of Planning & Accounting Department, General
			Machinery & Special Vehicles Business Headquarters,
			Mitsubishi Heavy Industries, Ltd.
		Apr. 2004	Chief of Business Strategy Group, Material Handling
			Equipment Department, General Machinery & Special
			Vehicles Business Headquarters, Mitsubishi Heavy
			Industries, Ltd.
		Apr. 2009	Deputy General Manager of Material Handling
	Yuichi Mano		Equipment Department, General Machinery & Special
		Vehicles Business Headquarters, Mitsubishi Heavy
	(June 25, 1963)		Industries, Ltd.
	[Reappointment]	Oct. 2011	General Manager of Forklift Sales Department, Forklift
		Business Division, General Machinery & Special
			Vehicles Business Headquarters, Mitsubishi Heavy
			Industries, Ltd.
		Apr. 2013	Director, Senior Executive Officer, Head of Corporate	22,051	None
			Planning Office, the Company
		Jul. 2014	Representative Director and President, Mitsubishi
			Caterpillar Forklift Europe B.V.
		Jun. 2018	Senior Executive Officer, Deputy General Manager,
			Strategic Planning Office, the Company
2		Apr. 2019	Senior Executive Officer, General Manager, Strategic
		Planning Office, the Company
		Apr. 2020	Senior Executive Officer, Head of Overseas Sales and
			Marketing Headquarters, The Company
		Jul. 2020	Senior Executive Officer, Head of Overseas Business
			Headquarters, the Company
		Apr. 2022	Senior Executive Officer, Division Head, General
			Manager, Corporate Strategy and Planning Office, the
			Company
		Jun. 2022 Representative Director and President, General Manager,
			Corporate Strategy and Planning Office, the Company
		Apr. 2023	Representative Director and President, the Company (to
			present)
	• Years of service as Director: 6
	• Attendance at Board of Directors meetings in fiscal year under review:	13 out of 13 meetings (100%)

[Reason for nomination as Director and summary of expected roles]

Mr. Yuichi Mano has supervised the overall business operation of the Group and ensured accountability for the Board of Directors as Representative Director and President, based on his excellent management skills and abundant business knowledge, while appropriately conducting decision making on important matters and management supervision. As he has fully demonstrated his leadership with a global management perspective toward realizing the corporate philosophy and achieving the management plan, the business results for the 123rd fiscal year exceeded the initial plan. In addition, he has actively promoted initiatives from not only a short-term but also a medium- to long-term perspective.

Based on the above, he is expected to contribute to achieving sustainable growth of the Company and enhancing corporate value. Therefore, we have nominated him again as a candidate for Director.

(Note) The Company has taken out the MHI Global Insurance, for which Mitsubishi Heavy Industries, Ltd., its parent, acts as the party to the insurance contract. The insurance policy includes a directors and officers liability insurance agreement provided for in Article 430-3, Paragraph 1 of the Companies Act, with all Directors and Audit and Supervisory Board Members named as the insured persons. The contract covers potential damages and expense payments to be borne by the insured persons arising from shareholder derivative actions, corporate lawsuits or third party litigation. However, the contract includes certain exemption clauses, such as no compensation being given for liability attributable to acts in violation of laws or regulations that were committed with full knowledge of their illegality. All insurance premiums are borne by the Company. If the reappointment of the candidate is approved, the Company will include the candidate as an insured person under the

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insurance contract. The Company plans to renew the insurance contract with the above details the next time it comes up for renewal.

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No.	Name				Number of	Special interests
Brief career summary and important concurrent duties	shares owned	with the
(Date of birth)
				(Common stock)	Company
		Jul. 2006	Joined the Company
		Jul. 2009	Vice President, Shanghai Nichiyu Forklift Manufacturing
			Co., Ltd.
		Oct. 2012	Executive Vice President, Nichiyu Forklift (Thailand)
			Co., Ltd.
		Feb. 2015	Division Head, General Manager, Corporate Finance and
	Takatoshi Uno		Accounting Division, Administration Headquarters, the
		Company
	(November 18, 1965)
	Jun. 2018	Assistant to Head of Administration Headquarters, the
	[Reappointment]		Company
	May 2019	Member of the Executive Team, Head of Corporate
			Finance and Accounting Headquarters, the Company
		Apr. 2021	Executive Officer, CFO, Head of Corporate Finance and
			Accounting Headquarters, Division Head, General	6,674	None
			Manager, Corporate Finance Planning Division, the
			Company
		Apr. 2022	Executive Officer, CFO, Head of Corporate Finance and
			Accounting Headquarters, the Company
3		Jun. 2022	Director, the Company (to present)
	Apr. 2023	Executive Officer, CFO, Division Head, General
			Manager, Corporate Strategy and Planning Office, in
			charge of Corporate Finance and Accounting
			Headquarters, the Company
		Apr. 2024	Senior Executive Officer, CFO, Division Head, General
			Manager, Corporate Strategy and Planning Office, in
			charge of Corporate Finance and Accounting
			Headquarters, the Company (to present)
	• Years of service as Director: 2
	• Attendance at Board of Directors meetings in fiscal year under review:	13 out of 13 meetings (100%)

[Reason for nomination as Director and summary of expected roles]

Mr. Takatoshi Uno possesses excellent management skills and abundant business knowledge in the finance and accounting field, and serves as the Company's Senior Executive Officer, CFO, and Division Head, General Manager, Corporate Strategy and Planning Office. He has worked on strengthening fiscal basis as a top-priority issue as CFO. He has steadily promoted various important projects from the financial and company-wide viewpoints while managing financial planning accurately and making appropriate proposals based on various indicators.

Based on the above, he is expected to contribute to achieving sustainable growth of the Company and enhancing corporate value. Therefore, we have nominated him again as a candidate for Director.

(Note) The Company has taken out the MHI Global Insurance, for which Mitsubishi Heavy Industries, Ltd., its parent, acts as the party to the insurance contract. The insurance policy includes a directors and officers liability insurance agreement provided for in Article 430-3, Paragraph 1 of the Companies Act, with all Directors and Audit and Supervisory Board Members named as the insured persons. The contract covers potential damages and expense payments to be borne by the insured persons arising from shareholder derivative actions, corporate lawsuits or third party litigation. However, the contract includes certain exemption clauses, such as no compensation being given for liability attributable to acts in violation of laws or regulations that were committed with full knowledge of their illegality. All insurance premiums are borne by the Company. If the reappointment of the candidate is approved, the Company will include the candidate as an insured person under the insurance contract. The Company plans to renew the insurance contract with the above details the next time it comes up for renewal.

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