Notice Regarding Dividend of Surplus

May 11, 2026

Company name: Morinaga & Co., Ltd.

Name of representative: Shinya Mori, Representative Director,

President and COO

(Securities code: 2201; Prime Market of the Tokyo Stock Exchange)

Inquiries: Natsuko Okamoto, General Manager, Corporate Communication Division (Telephone: +81-3-3456-0150)

Morinaga & Co., Ltd. ("the Company") today announced that its Board of Directors resolved, at a meeting held on May 11, 2026, to pay a dividend of surplus with a record date of March 31, 2026. Details are as follows.

The proposed dividend of surplus will be submitted for consideration at the 178th Annual General Meeting of Shareholders to be held on June 26, 2026.

1. Details of Dividend

   	Details of resolution	Latest dividend forecast (Announced on May 9, 2025)	Dividend for fiscal year ended March 31, 2025
   Record date	March 31, 2026	March 31, 2026	March 31, 2025
   Dividend per share	32.50 yen	32.50 yen	60.00 yen
   Total amount of dividends	2,731 million yen	-	5,160 million yen
   Effective date	June 29, 2026	-	June 30, 2025
   Source of funds for dividend	Retained earnings	-	Retained earnings

2. Reason for payment of dividend

The Morinaga Group's basic policy on returning profits to shareholders is to fundamentally prioritize strategic and important business investments, while providing consistent and stable returns to shareholders based on a solid management foundation.

Shareholder returns are premised on our ability to maintain a sound balance sheet. While giving due consideration to the dividend payout ratio and free cash flow, we aim to raise the dividend on equity ratio (DOE), an indicator of the Group's capital policy, over the medium to long term. With an awareness of total shareholder returns, we also will consider flexible implementation of share buybacks as needed.

Based on careful consideration of the operating results for the fiscal year ended March 31, 2026, and the outlook for future business operations, we have decided to pay a year-end dividend of ¥32.50 per share as per the dividend forecast announced on May 9, 2025.

To enhance opportunities to return profits to shareholders, we introduced payment of an interim dividend from the fiscal year ending March 31, 2026. As a result, combined with the interim dividend of ¥32.50 per share, the annual dividend for the fiscal year ended March 31, 2026 will be ¥65.00 per share.

(Reference) Breakdown of annual dividend