Further to the "Notice of Basic Agreement on Transfer of Shares in Consolidated Subsidiary" announced on March 7, 2023, Nippon Yusen Kabushiki Kaisha (“NYK”) has executed a definitive agreement with ANA Holdings Inc. ("ANAHD") whereby NYK and ANAHD have agreed to carry out the transaction for the transfer of all of NYK’s shares in Nippon Cargo Airlines Co., Ltd. ("NCA") to ANAHD through a share exchange (the "Share Exchange"). Upon the completion of this transaction, ANAHD will become the wholly owned parent company, with NCA as its wholly owned subsidiary. NYK further confirms that NCA has executed a share exchange agreement with ANAHD regarding this transaction.

The Share Exchange was finalized on Aug 1st, with effect from that date. As a result, NCA is no longer included among NYK’s consolidated subsidiaries and will now operate as a wholly owned subsidiary of ANAHD.