Tokio Marine : Notice regarding the adjustment of capital level (one-time dividend for capital level adjustment and share buyback)PDF

May 20, 2021

Tokio Marine Holdings, Inc.

President: Satoru Komiya

TSE code number: 8766

Notice regarding the adjustment of capital level

(one-time dividend for capital level adjustment and share buyback)

Tokio Marine Holdings, Inc. (the "Company") has a policy to sustainably increase common dividends along with profit growth, regarding them as the basics of shareholder return and to adjust capital level flexibly by paying one-time dividend for capital level adjustment or share buyback, based on a comprehensive consideration of the market environment, business investment opportunities and other factors.

The company announced that in fiscal 2021, it set a budget for annual capital level adjustments and adjust capital level flexibly within this budget in order to ensure greater transparency while keeping the focus on flexibility.

Please take a look at the details below.

• The company set a budget for annual capital level adjustments in order to ensure greater transparency.
• The budget is set at 100 billion yen for fiscal 2021, and this sum includes an amount for business investments (small and medium-sized M&As such as bolt-on acquisitions) in line with its policy to prioritize growth investment.
• The company will adjust capital level flexibly during the current term (it will announce any decisions on one-time dividend for capital level adjustment or share buyback each time such decision is approved by the board of directors).
• The company will not restrict business investments within this budget, and this may result in the total sum of business investments and capital level adjustments exceeding the budget. The company also plans to positively consider large M&A deals, regardless of this budget.
• The amount of the budget is subject to change in accordance with any substantial changes in the economic or other situations.