AEON Mall : Notice Concerning Distribution of Retained Earnings

April 7, 2022

To Whom It May Concern

Company Name:	Aeon Mall Co., Ltd.
Stock Code:	8905 (TSE Prime Market)
Representative:	Yasutsugu Iwamura, President and CEO
Inquiries:	Hiroshi Yokoyama, Managing Director and
General Manager of the Finance & Accounting
Division
TEL:	[phone]

Notice Concerning Distribution of Retained Earnings

At a meeting held April 7, 2022, the AEON MALL Co., Ltd. board of directors resolved to distribute retained earnings as of the record date of February 28, 2022.

1. Distribution Details

Resolution Details	Most-Recent Dividend Forecast (April 8, 2021)	Prior-Year Dividend Payment (FYE February 2021)
Record Date	February 28, 2022	February 28, 2022	February 28, 2021
Dividend per Share	¥25	¥20	¥20
Total Dividends	¥5,688 million	－	¥4,550 million
Effective Date	May 2, 2022	－	April 30, 2021
Source of Dividends	Retained Earnings	－	Retained Earnings

2. Reasons for dividend

AEON MALL recognizes that returning profits to shareholders through improving earnings power is a key management priority. Our basic policy on income distribution emphasizes steady dividend payments to shareholders, while using internal reserves to invest in structural business improvements, including investments in growth businesses, new businesses, and other areas that strengthen our operating foundation. Our policy is to maintain a consolidated payout ratio of at least 30%.

AEON MALL has resolved to pay a year-end dividend of ¥25 per share, as originally forecast. In combination with an interim dividend of ¥25 per share, the annual dividend for the fiscal year will amount to ¥50 per share. The Company plans to pay dividends of ¥50 per share for the next fiscal year, level with FY2021 dividends.

Under our articles of incorporation, distributions of retained earnings are subject to the approval of our board of director

(Reference) Annual Dividend Components

Dividends per Share (¥)
Record Date	Interim Dividend	Year-End Dividend	Annual Dividend
FY2020 Dividend (FYE February 2021)	¥20	¥20	¥40
FY 2021 Dividend	¥25	¥25	¥50
FY2022 Forecast	¥25	¥25	¥50