PhoenixBio Co.,Ltd.

<h3>3. Dividend Policy</h3>
<p style="margin-left: 24px; text-align: left">Since its founding, the Company has recorded accumulated losses and has not paid dividends. The Company currently prioritizes establishing and expanding its business and strengthening its financial position. To this end, the Company actively invests in equipment for research and development and increased production capacity. The Company recognizes that continuous research and development and capital investment are essential for future business establishment and expansion, and will implement these investments as appropriate in consideration of its financial condition. However, the Company also recognizes that returning profits to shareholders is an important management priority. After establishing and expanding its business, strengthening its management foundation, eliminating accumulated losses, and achieving a stable financial structure, the Company intends to implement shareholder returns.</p>
<p style="margin-left: 24px; text-align: left">The Company's articles of incorporation provide that dividend distributions of surplus shall be made with March 31 as the record date by resolution of the shareholders' meeting, and that interim dividends may be paid with September 30 as the record date by resolution of the board of directors. The Company's basic policy is to pay dividends twice annually: interim dividends and year-end dividends.</p>
<p style="text-align: left"> </p>

<p>Currently, we are not paying dividends due to accumulated losses, and instead are actively investing in research and development as well as capital expenditures. Once we have eliminated our accumulated losses and established a stable financial foundation, we plan to implement shareholder returns. Our basic policy is to pay dividends twice per year.</p>

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2026	Forecast(2025/05/15)	0	0	0	-
FY2025	Actual(2025/05/15)	0	0	0	-
	Forecast(2024/05/15)	0	0	0	-
FY2024	Actual(2024/05/15)	0	0	0	-
	Forecast(2023/05/15)	0	0	0	-
FY2023	Actual(2023/05/15)	0	0	0	-
	Forecast(2022/05/13)	0	0	0	-
FY2022	Actual(2022/05/13)	0	0	0	-
	Forecast(2021/05/14)	0	0	0	-
FY2021	Actual(2021/05/14)	0	0	0	-
	Forecast(2020/11/13)	0	0	0	-
FY2020	Actual(2020/11/13)	0	0	0	-

PhoenixBio Co.,Ltd.【JP:6190】Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)