Notice of Change in Dividend Policy (Introduction of Progressive Dividend)

May 8, 2026

RYODEN CORPORATION

(Code: No. 8084, TSE Prime Market) President & CEO Katsuyuki Tomizawa,

Contact: Kouzaburo Okamura, General Manager, General Affairs Dept (Tel: +81-3-5396-6111)

Notice of Change in Dividend Policy (Introduction of Progressive Dividend)

RYODEN CORPORATION (hereinafter, the "Company") is pleased to announce that its Board of Directors, at its meeting held today, has revised the Company's, Dividend Policy as follows:

1. Reasons for the change in dividend policy

   The Company has positioned the continuous and stable distribution of profits to shareholders as one of its most important management policies, along with the sustainable enhancement of corporate value, and has worked to improve and stabilize its dividend levels.

   A core pillar of the financial strategy under our medium- to long-term management plan, "ONE RYODEN Growth 2029 | 2034," is to accelerate the growth cycle by optimizing management resources.

   Therefore, over the five-year plan period, the Company plans to allocate 25 to 35 billion yen to growth investments and shareholder returns of 17 billion yen or more, while continuing to make aggressive investments in technology, human resources, and businesses. In addition, the Company will enhance shareholder returns by changing its dividend policy from the previous fiscal year, thereby promoting profitability improvement and medium- to long-term value creation.

   The Company has now decided to reset its return targets to a higher level to accelerate balance sheet optimization based on financial discipline. Specifically, with the aim of both managing its capital equity at an appropriate level with a focus on improving capital efficiency (ROE) and further enhancing shareholder returns, the Company has introduced a "progressive dividend" and added a new target of achieving a consolidated dividend on equity (DOE) ratio of 4.5% or higher by the final fiscal year of its current medium- to long-term management plan.

2. Details of Dividend Policy (Before change)

   The Group is committed to maintaining financial soundness, investing in growth to enhance corporate value over the medium to long term, and returning profits to shareholders in an appropriate manner.

   The Company's policy is to strengthen and expand shareholder returns in a stable manner over the medium to long term, rather than linking them to short-term financial results, and to pay dividends from retained earnings with a minimum consolidated total return ratio of 50% or a consolidated dividend on equity (DOE) ratio of 3.5%.

   The Company also plans to repurchase its own shares, taking into account share price trends and its financial condition.

   1

   (After the change)

   The Group is committed to maintaining financial soundness, investing in growth to enhance corporate value over the medium to long term, and returning profits to shareholders in an appropriate manner.

   The Company's policy is to strengthen and expand shareholder returns in a stable manner over the medium to long term, rather than linking them to short-term financial results, and the Company will adopt a "progressive dividend" (a policy to maintain or increase dividend levels without reducing them) as its commitment to shareholder returns.

   Specifically, the Company will pay dividends from retained earnings with the target of achieving a consolidated dividend on equity (DOE) ratio of 4.5% or higher during the period of its current medium- to long-term management plan (FYE2026 to FYE2030).

   The Company also plans to repurchase its own shares, taking into account share price trends and its financial condition.

   * Consolidated dividend on equity (DOE) ratio = (Total annual dividends / Consolidated shareholders' equity) ×

   100

3. Timing of change Effective from FYE2027.

(Reference)