ELEMENTS, Inc.

<h3 class="smt_head2">3 [Dividend Policy]</h3>The Company regards returning profits to shareholders as an important management priority. However, we currently view our group as being in a growth and expansion phase. We believe that strengthening our management foundation and building up internal reserves to support aggressive business development will ultimately deliver the greatest returns to shareholders through further business expansion.Based on this approach, we do not currently pay dividends and intend to continue building internal reserves in the near term. We will deploy these retained earnings effectively toward necessary operating capital such as recruiting talented personnel, expanding our service infrastructure, and funding new service development. In the future, we will consider profit distribution to shareholders based on our financial position and operating results. However, at this time, the implementation of dividends and their timing remain undetermined.When we do distribute surplus earnings, our basic policy is to conduct year-end dividends once annually. Our articles of incorporation provide that the Board of Directors may authorize surplus distributions pursuant to Article 459, Paragraph 1 of the Companies Act. Additionally, our articles of incorporation provide that interim dividends as prescribed in Article 454, Paragraph 5 of the Companies Act may be implemented by Board resolution with a reference date of May 31 each year.

The company currently pays no dividends and plans to focus on building up retained earnings in the near term. Retained earnings will be used for hiring talent, working capital, expanding service infrastructure, and developing new services. In the future, the company plans to adopt a basic policy of paying dividends once per year at the fiscal year-end.

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2026	Forecast(2026/01/13)	0	0	0	-
FY2025	Actual(2026/01/13)	0	0	0	-
	Forecast(2025/01/14)	0	0	0	-
FY2024	Actual(2025/01/14)	0	0	0	-
	Forecast(2024/01/15)	0	0	0	-
FY2023	Actual(2024/01/15)	0	0	0	-
	Forecast(2023/01/16)	0	0	0	-
FY2022	Actual(2023/01/16)	0	0	0	-
FY2021	Actual(2023/01/16)	0	0	0	-

ELEMENTS, Inc. (5246) Dividends

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