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(Update on Previously Disclosed Transaction) Notice regarding Transfers (Acquisition of Shares) in Consolidated Subsidiaries

August 24, 2023

TOKYO, August 24, 2023 – In the “Notice regarding Transfers (Acquisition of Shares) in Consolidated Subsidiaries” disclosed on May 19, 2023, which has been partially corrected in the “(Corrections) Notice Regarding Partial Corrections to the ‘Notice regarding Transfers (Acquisition of Shares) in Consolidated Subsidiaries’” disclosed on July 19, 2023, hereinafter the “Previous Timely Disclosure”, Ricoh Company, Ltd. (President and CEO: Akira Oyama; hereinafter “Ricoh”) announced that its Board of Directors has resolved to transfer the shares of the five consolidated subsidiaries of Toshiba Tec Corporation (President and CEO: Hironobu Nishikori; hereinafter “Toshiba Tec”) to Ricoh Technologies Company, Ltd. (hereinafter the “Joint Venture”), a consolidated subsidiary of Ricoh which will become the joint venture entity, by the Absorption-type Company Split based on the Absorption-type Split Agreement between the Joint Venture and Toshiba Tec in connection with the Business Integration.

In the Previous Timely Disclosure, Ricoh announced that there is a possibility that Toshiba Tec will, at its discretion, include the businesses (except for certain businesses and assets) of Toshiba Tec Europe Imaging Systems S.A. (hereinafter “Toshiba Tec Europe Imaging Systems”) in the scope of the Transferred Business after consultation with the works' council of Toshiba Tec Europe Imaging Systems in accordance with French labor law.

Ricoh hereby announces that the consultation between Toshiba Tec Europe Imaging Systems and the works' council of Toshiba Tec Europe Imaging Systems has been completed, and Toshiba Tec Europe Imaging Systems' shares has also been decided to be transferred to the Joint Venture by including Toshiba Tec Europe Imaging Systems' business in the Transferred Business.

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| About Ricoh |

Ricoh is a leading provider of integrated digital services and print and imaging solutions designed to support digital transformation of workplaces and optimize business performance.

Headquartered in Tokyo, Ricoh's global operation reaches customers in approximately 200 countries and regions, supported by cultivated knowledge, technologies, and organizational capabilities nurtured over its 85-year history. In the financial year ended March 2023, Ricoh Group had worldwide sales of 2,134 billion yen (approx. 16.0 billion USD).

It is Ricoh's mission and vision to empower individuals to find Fulfillment through Work by understanding and transforming how people work so we can unleash their potential and creativity to realize a sustainable future.

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