Report on the 625th Meeting of the Board of Directors To the Members The 625th Meeting of the Association’s Board of Directors was held on 13 June 2025. The main decisions of the Meeting are as follows; 1. The 75th Ordinary General Meeting of the Members The Board approved the convening of the 75th Ordinary General Meeting of the Members at the Kaiun Club, Tokyo at 16:00 on 22 July 2025. 2. Agenda of the 75th Ordinary General Meeting of the Members The Board approved the following report and proposals for inclusion in the agenda of the Ordinary General Meeting. Report: The Business Report for the 75th business year (from 1 April 2024 to 31 March 2025); Proposals: To approve an inventory, balance sheet, income and expenditure account and proposals for the disposition of the surplus for the 75th business year (the period from 1 April 2024 to 31March 2025); To approve amendment to Articles of Association; To elect members to the Board of Directors, and to appoint the auditors; To approve the payment of retirement bonus to retiring directors; To revise the remuneration quota for directors who execute the daily business of the Association; To provide an authorisation to the Board of Directors for the handling of decisions at the General Meeting of the Members; Details of the above items can be found in the “Notice of the 75th Ordinary General Meeting of the Members”, which will be sent by post to the Members, along with enclosures. The outline of the financial results for the 2024 business year (the above Proposal 1) is as follows: In the 75th business year, given the upward trend of global inflation and insurance claims, in addition to elements of uncertainty, such as natural disasters and geopolitical risks, a general increase of 7 % was implemented for ocean-going owners’ and charterers’ entries for the 2025 policy year renewal. The net premium income was JPY 22.59 billion, although this decreased from the previous year when there was a temporary income increase follo