Strategic Capital Co., Ltd. Announces Launch of Special Website Regarding Shareholder Proposals to Nippon Steel Corporation and Osaka Steel Co., Ltd.

Strategic Capital Co., Ltd. (hereinafter referred to as "SC") has entered into an investment management agreement with INTERTRUST TRUSTEES (CAYMAN) LIMITED SOLELY IN ITS CAPACITY AS TRUSTEE OF JAPAN-UP (hereinafter referred to as "the Fund"). Both the Fund and SC are shareholders of Nippon Steel Corporation (hereinafter referred to as "Nippon Steel") and its listed subsidiary, Osaka Steel Co., Ltd. (hereinafter referred to as "Osaka Steel").

Nippon Steel and Osaka Steel have a parent-child listing relationship, and the interests of Osaka Steel's minority shareholders have been continuously harmed. Therefore, SC exercised its shareholder proposal rights at the ordinary general meeting of shareholders for both companies, scheduled to be held in June. The agenda and outline of SC's proposals were announced in a press release dated April 27, 2026.

SC has now launched a special website (https://stracap.jp/NIPPON-OSAKASTEEL/) providing detailed explanations of the background and proposals regarding the shareholder proposals. This matter is hereby announced.

Strategic Capital Co., Ltd. aims to improve corporate and shareholder value through dialogue with company management and the exercise of shareholder rights.