Management
IR

Notice Regarding Adjustment of Conversion Price for Zero Coupon Convertible Bonds Due 2028 and Zero Coupon Convertible Bonds Due 2030

May 16, 2024

Kobe Steel, Ltd.

Kobe Steel, Ltd. (the “Company”) hereby announces the adjustment of the conversion price for its Zero Coupon Convertible Bonds due 2028 and Zero Coupon Convertible Bonds Due 2030 (the “Bonds”).

1. Adjustment of Conversion Price

Name of issue	Conversion Price prior to the adjustment	Conversion Price after the adjustment
Zero Coupon Convertible Bonds due 2028	¥2,456.0	¥2,401.6
Zero Coupon Convertible Bonds due 2030	¥2,349.5	¥2,297.4

2. Effective date

As of 1 April 2024

3. Reason for the Adjustment

Adjustment of Conversion Price pursuant to Condition 5.2.4 of the terms and conditions of the Bonds due to the payment of an Extraordinary Dividend (as defined in such Condition 5.2.4), resulting from the payment of a dividend of ¥45 per Share. The payment of such dividend was approved at the meeting of the board of directors of the Company on 16 May 2024.

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