GMO Commerce,Inc.

<h3 class="smt_head2">3 [Dividend Policy]</h3>

The Company recognizes shareholder returns as an important management priority. We are committed to implementing stable and continuous dividends while comprehensively considering the retention of earnings necessary to support business expansion and capital requirements.

Going forward, we aim to distribute profits to shareholders while taking into account our operating results and financial condition. Regarding dividend distributions, we target a dividend payout ratio of 65% and strive to pay dividends in a stable and sustainable manner.

We intend to use retained earnings for operational funding of our various businesses and growth investments necessary for new business initiatives, thereby working to enhance corporate value.

Our basic policy is to distribute dividends once per fiscal year as a year-end dividend. However, our Articles of Incorporation provide that we may pay an interim dividend once per year in accordance with Article 459, Paragraph 1 of the Companies Act. The Board of Directors is the decision-making body for dividends.

Based on the above policy, dividends with a record date in the fiscal year ended December 2024 totaled 120,920,953 yen on an annual basis.

Note: Dividend distributions with record dates in the current fiscal year are as follows.

<div class="tbld">
<table cellspacing="0" cellpadding="0" style="border-collapse:collapse;border:solid 0pt #000000;width:422.9pt;table-layout:fixed;">
<colgroup>
<col style="width:144.8pt;min-width:144.8pt;"/>
<col style="width:141.9pt;min-width:141.9pt;"/>
<col style="width:136.2pt;min-width:136.2pt;"/>
</colgroup>
<tr style="height:22.5pt;min-height:22.5pt;">
<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-top-color:#000000;border-bottom-style:solid;border-bottom-width:0.75pt;border-bottom-color:#000000;border-left-style:solid;border-left-width:0.75pt;border-left-color:#000000;border-right-style:solid;border-right-width:0.75pt;border-right-color:#000000;overflow:hidden;">Date of Resolution
</td>
<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-top-color:#000000;border-bottom-style:solid;border-bottom-width:0.75pt;border-bottom-color:#000000;border-left-style:solid;border-left-width:0.75pt;border-left-color:#000000;border-right-style:solid;border-right-width:0.75pt;border-right-color:#000000;overflow:hidden;">Total Dividend Amount (Thousands of Yen)
</td>
<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-top-color:#000000;border-bottom-style:solid;border-bottom-width:0.75pt;border-bottom-color:#000000;border-left-style:solid;border-left-width:0.75pt;border-left-color:#000000;border-right-style:solid;border-right-width:0.75pt;border-right-color:#000000;overflow:hidden;">Dividend Per Share (Yen)
</td>
</tr>
<tr style="height:24pt;min-height:24pt;">
<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-top-color:#000000;border-bottom-style:solid;border-bottom-width:0.75pt;border-bottom-color:#000000;border-left-style:solid;border-left-width:0.75pt;border-left-color:#000000;border-right-style:solid;border-right-width:0.75pt;border-right-color:#000000;overflow:hidden;">March 26, 2025 Shareholders' Meeting Resolution
</td>
<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-top-color:#000000;border-bottom-style:solid;border-bottom-width:0.75pt;border-bottom-color:#000000;border-left-style:solid;border-left-width:0.75pt;border-left-color:#000000;border-right-style:solid;border-right-width:0.75pt;border-right-color:#000000;overflow:hidden;"><p class="smt_tblL" style="orphans:0;widows:0;text-align:right;padding-left:0pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-justify:inter-ideograph;text-indent:0pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:10pt;font-size:9pt;">120,920
</td>
<td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-top-color:#000000;border-bottom-style:solid;border-bottom-width:0.75pt;border-bottom-color:#000000;border-left-style:solid;border-left-width:0.75pt;border-left-color:#000000;border-right-style:solid;border-right-width:0.75pt;border-right-color:#000000;overflow:hidden;"><p class="smt_tblR" style="orphans:0;widows:0;text-align:right;padding-left:0pt;padding-right:9pt;margin-top:0pt;margin-bottom:0pt;text-justify:inter-ideograph;text-indent:0pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:10pt;font-size:9pt;">22,392.77
</td>
</tr>
</table> 
</div>

<p class="smt_text6" style="orphans:0;widows:0;text-align:justify;padding-left:10pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:-10pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:15pt;font-size:9pt;">Note: A stock split of 666 shares for each ordinary share was executed on April 11, 2025. The dividend per share amount shown above is the amount prior to the stock split.

Our basic policy is to implement stable and continuous dividends. We aim for a dividend payout ratio of approximately 65% to ensure stable and sustainable dividends. We primarily distribute retained earnings once per year as a year-end dividend, while using retained funds for business operations and growth investments in new ventures.

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2026	Forecast(2026/02/10)	0	48.24	48.24	65.0%
FY2025	Actual(2026/02/10)	0	40.3	40.3	47.8%
	Forecast(2025/11/12)	0	43.05	43.05	-
FY2024	Actual(2025/11/12)	0	22,392.77	22,392.77	-

GMO Commerce,Inc. (410A) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)