Daikin Industries : Convocation Notice of the 120th Ordinary General Meeting of Shareholders

Code Number: 6367 June 2, 2023 (Commencement date of electronic provision measure: May 26, 2023)

To Shareholders:

Masanori Togawa

President and CEO Daikin Industries, Ltd.

Osaka Umeda Twin Towers South, 1-13-1, Umeda, Kita-ku, Osaka

Convocation Notice of the 120th Ordinary General Meeting of Shareholders

We hereby inform you of the 120th Ordinary General Meeting of Shareholders of Daikin Industries, Ltd. ("Daikin" or the "Company") to be held as indicated below.

For the convocation of this general meeting of shareholders, the Company takes an electronic provision measure for information that constitutes the content of the Reference Documents for the General Meeting of Shareholders, etc. (matters for electronic provision measure), and posts this information on the Company website as "Convocation Notice of the 120th Ordinary General Meeting of Shareholders."

[Company website] https://www.daikin.com/investor/stock/meeting

Matters for electronic provision measure are posted on the following website, in addition to the Company website.

[Website on which general shareholder meeting materials are posted] https://d.sokai.jp/6367/teiji/

[Website of Tokyo Stock Exchange (Listed Company Search)] https://www2.jpx.co.jp/tseHpFront/JJK020030Action.do

Please access the website of the Tokyo Stock Exchange above, enter the issue name (Daikin Industries) or securities code (6367) to search the Company, and select "Basic information" and "Documents for public inspection/PR information" in that order to confirm the information in "Notice of General Shareholders Meeting/Informational Materials for a General Shareholders Meeting" under "Filed information available for public inspection."

If you are unable to attend the meeting, you may exercise your voting rights in writing (the Voting Rights Exercise Form) or via electronic means (the Internet). Please review the "Reference Documents for the General Meeting of Shareholders" attached hereto, and exercise your voting rights by 5:30 p.m. on Wednesday, June 28, 2023, in accordance with "5. Guidance on Exercising Voting Rights" on the following page.

For this ordinary general meeting of shareholders, we plan to offer a live streaming so that shareholders can watch the proceedings of the meeting from their homes and other places. If you

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plan to participate in the meeting through the live streaming, please exercise your voting rights in advance in writing (the Voting Rights Exercise Form) or via electronic means (the Internet).

Particulars

1. Date and Time: 10:00 a.m., Thursday, June 29, 2023 (The reception desk will open at 9:00 a.m.)
2. Venue:"Shion Hall" (4F), Hotel Hankyu International

19-19, Chayamachi, Kita-ku, Osaka, Japan

3. Meeting Agenda Reports:

1. Business Report, Consolidated Financial Statements and the Non- Consolidated Financial Statements for the 120th fiscal year (from April 1, 2022, to March 31, 2023)
2. Audit Reports on the Consolidated Financial Statements for the 120th fiscal year (from April 1, 2022, to March 31, 2023) by the Independent Auditor and

the Audit & Supervisory Board

Appropriation of Surplus

Partial Amendments to the Articles of Incorporation Election of Ten (10) Directors

Election of Three (3) Audit & Supervisory Board Members Election of One (1) Substitute Audit & Supervisory Board Member (external)

1. Procedural Rules Pertaining to the Convocation
   Handling of Voting Rights in the Event of Multiple Exercise
2. 1. In the event voting rights are exercised multiple times in writing, the last arriving vote shall be deemed to be effective.
   2. In the event voting rights are exercised multiple times via electronic means, the last exercise of voting rights shall be deemed to be effective.
   3. In the event voting rights are exercised in duplicate form by electronic means and in writing, the exercise of voting rights via electronic means shall be deemed to be effective.
3. Guidance on Exercising Voting Rights
   Exercising Your Voting Rights in Writing (the Voting Rights Exercise Form)
   On the enclosed Voting Rights Exercise Form, please indicate either approval or disapproval of each agenda and return the form by 5:30 p.m., Wednesday, June 28, 2023. If you do not indicate either approval or disapproval of each agenda on the Voting Rights Exercise Form, you will be deemed to have voted in favor of each agenda.
   Exercising Your Voting Rights via Electronic Means (the Internet)
   Please access the relevant website for the exercise of voting rights (https://evote.tr.mufg.jp/) using a personal computer or smartphone. Please enter the login code and password provided in the Voting Rights Exercise Form enclosed herein and follow the instructions to proceed with your votes by indicating either approval or disapproval.
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You may also exercise your voting rights from the website for the exercise of voting rights for smartphones by reading the QR code for login provided in the Voting Rights Exercise Form with your smartphone, without entering the login code and password.

[Exercise deadline] by 5:30 p.m., Wednesday, June 28, 2023

• Please submit the enclosed Voting Rights Exercise Form to the reception desk upon your attendance at the meeting.
• Please note that persons other than shareholders who are entitled to exercise voting rights, such as proxies who are not shareholders and persons accompanying you, are not allowed to enter the venue of the meeting.
• In the event that any errors are found in the matters for electronic provision measure, corrections will be posted on each of the websites above.

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Reference Documents for the General Meeting of Shareholders

First Item: Appropriation of Surplus

The Company pays stable dividends to shareholders in comprehensive consideration of the ratio of dividends to consolidated net assets, consolidated dividend payout ratio, consolidated operating performance, financial situations, and capital demands.

We propose to pay a year-end dividend for the 120th fiscal year as follows, which is a dividend increase of ¥30 per share from that of the preceding year, since we posted a higher profit for the fiscal year under review.

This dividend would result in an annual dividend-including the interim dividend-of ¥240 per share, an increase of ¥40.

Year-end dividends

1. Amount of dividend assets to be allocated to shareholders Cash of ¥140 per share of common stock of the Company Total: ¥40,982,120,480
2. Effective date of dividends from surplus June 30, 2023

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Second Item: Partial Amendments to the Articles of Incorporation 1. Reason for the amendments

With the aim of further strengthening and enhancing the audit system in line with our business expansion, we propose to change the number of Audit & Supervisory Board Members from the current four (4) or less to five (5) or less, and make necessary amendments to Article 27 (Number of Audit & Supervisory Board Members) of the current Articles of Incorporation accordingly.

2. Details of the amendments

Details of the amendments are as follows:

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