ENECHANGE Ltd.

<h3>3. Dividend Policy</h3>
The Company regards returning profits to shareholders as an important management priority. However, we believe that the greatest benefit to shareholders comes from strengthening our financial position, building internal reserves for business expansion, and allocating funds to investments that diversify our revenue base and enhance profitability.
Based on this approach, we have not paid dividends since our founding, and no dividend was paid during the current fiscal year. We intend to continue building internal reserves for the foreseeable future. These retained earnings will be used to strengthen our financial position, expand and develop our workforce, and invest in diversifying our revenue base and enhancing profitability.
In the future, while strengthening profitability and establishing our business foundation, we plan to provide shareholders with stable and continuous profit returns, taking into account the status of internal reserves and the business environment. However, as of the date of this document, the timing and feasibility of dividend payments remain undetermined.
When dividends are implemented, the basic policy is to pay dividends once per year as a year-end dividend. The Board of Directors has authority to decide on dividend payments. Pursuant to a resolution passed at an extraordinary shareholders' meeting held on September 1, 2020, the Articles of Incorporation authorize the Board of Directors to determine matters specified in Article 459, Paragraph 1 of the Companies Act, except where otherwise provided by law. The record dates for dividends are set as March 31 for year-end dividends and September 30 for interim dividends.

For the time being, we will not pay dividends and will focus on building internal reserves. These reserves will be used to strengthen our financial position and invest in diversifying our revenue base and enhancing profitability. In the future, we aim to provide stable and continuous returns to shareholders by taking into account the status of internal reserves and the business environment, though the timing remains undecided. Should we implement dividends, our basic policy is to distribute them once per fiscal year in the form of a year-end dividend.

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2025	Actual(2025/05/15)	0	0	0	-
FY2023	Actual(2024/02/09)	0	0	0	-
FY2022	Actual(2023/02/10)	0	0	0	-
FY2021	Actual(2022/02/10)	0	0	0	-
FY2020	Actual(2021/02/12)	0	0	0	-
FY2019	Actual(2021/02/12)	0	0	0	-

ENECHANGE Ltd.【JP:4169】Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)