Additional Acquisition of Shares in Vietnamese Consolidated Subsidiary

Hoshizaki Corporation (Headquarters: Toyoake, Aichi; President: Yasuhiro Kobayashi) has entered into a share transfer agreement with SEAREFICO CORPORATION (Headquarters: Ho Chi Minh City, Vietnam) to acquire additional shares of its consolidated subsidiary, ASIA REFRIGERATION INDUSTRY JOINT STOCK COMPANY (ARICO), based in Ho Chi Minh City, Vietnam. This transaction will increase Hoshizaki's equity stake from the current 51% to 99.616%. The move is designed to enhance governance, accelerate decision-making, and unify business strategies. Since making ARICO a consolidated subsidiary in March 2025, Hoshizaki has invested in production facilities, preparing to launch its first Hoshizaki-brand production site in Southeast Asia within ARICO's existing factory in Ho Chi Minh City. Mass production is now underway, and commercial refrigerators manufactured there will be launched in Vietnam through Hoshizaki Vietnam starting in early April. The share acquisition will be executed via Hoshizaki's regional holding company, HOSHIZAKI SOUTHEAST ASIA HOLDINGS PTE. LTD. (Singapore), with a scheduled closing date of June 2026. Through this acquisition, Hoshizaki intends to bolster ARICO’s manufacturing base, expand product distribution throughout the Southeast Asian region, and drive further business growth.