Hitachi Metals : Announcement of Setting of Record Date for Convocation of Extraordinary Shareholders Meeting(PDF：)

October 13, 2022

To all parties concerned,

Company Name: Hitachi Metals, Ltd. Name of Representative: Mitsuaki Nishiyama Chairperson, President, and CEO

（Code: 5486; Prime Market of the Tokyo Stock Exchange)

Contact: Izumi Tsubouchi

General Manager, Corporate Communications Dept.

(Phone: +81-50-3664-9519)

Announcement of Setting of Record Date for Convocation of Extraordinary Shareholders Meeting

Hitachi Metals, Ltd. (the "Company") announces that the Company decided to set the record date necessary for convening an extraordinary shareholders meeting, which is scheduled to be held in early or mid-December

2022 (the "Shareholders Meeting"), as follows:

1. Record Date for the Shareholders Meeting

In case that the Shareholders Meeting is held, the Company sets Tuesday, November 1, 2022 (the "Record Date") as the record date for the Shareholders Meeting to determine the shareholders of the Company that will be entitled to exercise their voting rights at the Shareholders Meeting. The shareholders entitled to exercise their voting rights at the Shareholders Meeting shall be those stated or recorded in the shareholder register as of the end of the Record Date.

2. Date and Agenda of the Shareholders Meeting

As announced in the Company's press release "Announcement of Opinion in Support of the Tender Offer by K.K. BCJ-52 for the Shares of Hitachi Metals, Ltd., and Recommendation of Tender" dated September 26, 2022, according to K.K BCJ-52 (the "Tender Offeror"), if the tender offer publicized by the Tender Offeror on the same day for the common shares of the Company (the "Company Shares")

1

(such tender offer, the "Tender Offer") is completed successfully, the Tender Offeror plans to make the Company its wholly-owned subsidiary, and in the event that the Tender Offeror fails to acquire all of the Company Shares (excluding treasury shares owned by the Company and the Company Shares that Hitachi Ltd. owns ("Shares Owned by Hitachi")) in the Tender Offer, the Tender Offeror plans to request that after successful completion of the Tender Offer, the Company promptly hold the Shareholders Meeting, at which the proposals for discussion will include implementation of a consolidation of the Company Shares (the "Share Consolidation") and an amendment to the Articles of Incorporation abolishing the provisions on share units, on the condition of the effectuation of the Share Consolidation.

Since the Tender Offeror is to make the demand to the Company in the case stated above, the Company has set in advance the record date necessary for convening the Shareholders Meeting in the event that the Shareholders Meeting is required to be held. If the Company convenes and holds the Shareholders Meeting, it will announce the date, venue, agenda, and other details of the Shareholders Meeting as soon as they are decided.

Meanwhile, (i) if the Tender Offer is not successful, or (ii) even where the Tender Offer is successful, if the Tender Offeror is able to obtain all of the Company Shares (excluding treasury shares owned by the Company and Shares Owned by Hitachi) in the Tender Offer, the Company will not hold the Shareholders Meeting, and will not use the Record Date for the Shareholders Meeting.

End

2