LONDON, April 1, 2026 /PRNewswire/ -- Elliott Investment Management L.P. and Elliott Advisors (UK) Limited ("Elliott"), which advise funds that together have a significant investment in Mitsui O.S.K. Lines, Ltd. ("Mitsui O.S.K." or the "Company"), today issued the following statement:

Elliott notes the initiatives outlined in Mitsui O.S.K.'s new Medium-Term Management Plan ("MTMP") as positive steps toward improving shareholder returns and increasing capital efficiency. However, Elliott remains concerned that the MTMP does not go far enough in closing Mitsui O.S.K.'s significant gap in shareholder returns to its peers or concretely addressing the large unrealized gains from vessels and real estate on the Company's balance sheet. Mitsui O.S.K. must more ambitiously confront the factors behind its deep undervaluation. Elliott is committed to working constructively with the Company on the steps needed to achieve its stated goal of trading at a premium to book value.

About Elliott

Elliott Investment Management L.P. (together with its affiliates, "Elliott") manages approximately $79.8 billion of assets as of December 31, 2025. Founded in 1977, it is one of the oldest funds under continuous management. The Elliott funds' investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm. Elliott Advisors (UK) Limited is an affiliate of Elliott Investment Management L.P.

Media Contacts:

London

Stijn van de Grampel

Elliott Advisors (UK) Limited

T: +44 20 3009 1061

svdgrampel@elliottadvisors.co.uk

New York

Stephen Spruiell

Elliott Investment Management L.P.

T: +1 (212) 478-2017

sspruiell@elliottmgmt.com

Tokyo

Brett Wallbutton

Ashton Consulting

T: +81 (0) 3 5425-7220

b.wallbutton@ashton.jp

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