TOKYO—Mitsui O.S.K. Lines, Ltd. (the Company; President & CEO: Takeshi Hashimoto) hereby announces the revision of the consolidated business forecast for fiscal year 2021 which was previously released on April 30th, 2021. Details of the announcement is as follows.

1. Business forecast

2. Reason for revision

The business forecast for cumulative second quarter of the fiscal year 2021 for OCEAN NETWORK EXPRESS PTE. LTD. (hereinafter “ONE”), our equity method affiliate company that operates containership business, is expected to improve from the forecast made at the beginning of the fiscal year, due to cargo movements and spot freight rates both considerably exceeding the Company’s assumptions. In addition to ONE’s improved forecast, after close examination of the other businesses forecast for consolidated cumulative second quarter of the fiscal year 2021, the Company made an upward revision on revenue, ordinary income and net income attributable to owners of parent. The business forecast for the third quarter of the fiscal year 2021 and beyond is currently under careful examination. If, as a result of the examination, it becomes necessary to disclose further information, the Company will announce as soon as possible. (Note)The above forecasts have been prepared based on information available as of the date of announcement of this material, and actual results may differ from the forecasts due to various factors in the future.