Mitsubishi Estate Co., Ltd. (hereafter the 'Company') hereby announces that at the meeting of its Board of Directors held on May 13, 2021, the Company resolved to pay a dividend of surplus with March 31, 2021 as the record date.

Reason for the Announcement

Although the Company recognizes capital requirements for future business developments such as the redevelopment of Marunouchi, it focuses on the provision of an appropriate return to all shareholders as a key point of the basic policy on dividends by considering overall performance levels and business environment in real estate market etc. In terms of dividends for both FY2021 and FY2022, the Company has decided to aim for consolidated payment ratio of 30%.

Interim dividends for FY2021 are JPY12 yen per share. Upon balancing the accounts, profit attributable to owners of parent had increased compared with the most recent full-year financial forecasts. Therefore, the year-end dividend is scheduled to be increased by JPY 1, up to JPY 19 per share (annual dividend payout is JPY 31 per share). This matter is up for discussion at the 122nd ordinary general meeting of shareholders, scheduled for June 29, 2021.

Contact:

Mitsubishi Estate Co., Ltd.

Representative

Junichi Yoshida

President and Chief Executive Officer

Securities code: 8802

Motohiro Sato

General Manager

Corporate Communications Department

Tel: +81-3-3287-5200

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