Sumitomo Metal Mining Co., Ltd.

<h3>3. Dividend Policy</h3>
<p style="margin-left: 24px; text-align: left">The Company determines the balance between dividend distributions and retained earnings by comprehensively considering business performance, dividend payout ratio, future business development, and financial soundness. The frequency of dividends in each fiscal year is determined based on business characteristics and business strategy. Since profits from our resources and smelting operations are the primary source of dividends and we are currently pursuing a growth strategy through large-scale investments, we focus primarily on profit distributions based on full-year or interim accounting period results. The Company's Articles of Incorporation provide for interim dividends as prescribed in Article 454, Paragraph 5 of the Companies Act. Year-end dividends are determined by resolution of the ordinary general meeting of shareholders, while interim dividends are determined by board of directors resolution.</p>
<p style="margin-left: 24px; text-align: left">The Company's basic financial strategy is to maintain a consolidated equity ratio exceeding 50%. Our dividend policy, as stated in the "21 Medium-Term Plan," targets a consolidated dividend payout ratio of 35% or higher in principle. However, due to the nature of our business, our group's performance is affected by fluctuations in non-ferrous metal prices and exchange rates, which causes significant variations in dividend amounts based on the consolidated dividend payout ratio. To mitigate the impact on dividends when our group's performance deteriorates due to market factors, and as part of our efforts to realize management that considers capital costs and stock price, we have added a floor indicator of DOE (dividend on equity) of 1.5% starting with the year-end dividend for the fiscal year ending March 2024. Our dividend policy is now: "Dividends from surplus shall be based on a consolidated dividend payout ratio of 35% or higher in principle, with a floor indicator of DOE 1.5%."</p>
<p style="margin-left: 24px; text-align: left">For the year-end dividend of the current fiscal year, we plan to resolve a dividend of 55 yen per share based on the above policy (including the floor indicator of DOE 1.5%). As a result, the annual dividend per share, combined with the interim dividend, is expected to be 104 yen, and the consolidated dividend payout ratio, which is the indicator of shareholder returns for the current fiscal year, will be 62.1%.</p>
<p style="margin-left: 24px; text-align: left">Dividends from surplus for the 100th fiscal period are as follows:</p>
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<p style="line-height: 13.333333333333333333333333333px; text-align: center">Date of Resolution</p>
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<p style="line-height: 13.333333333333333333333333333px; text-align: center">Total Dividend Amount (Million Yen)</p>
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<p style="line-height: 13.333333333333333333333333333px; text-align: center">Dividend per Share (Yen)</p>
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<p style="margin-left: 6px; text-align: left">November 12, 2024</p>
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<p style="margin-right: 3.3333333333333333333333333333px; text-align: left">Board of Directors Resolution</p>
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<p style="margin-right: 6px; text-align: right">13,463</p>
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<p style="margin-right: 6px; text-align: right">49</p>
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<p style="margin-left: 6px; text-align: left">June 26, 2025</p>
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<p style="margin-right: 3.3333333333333333333333333333px; text-align: left">Ordinary General Meeting of Shareholders Resolution (Planned)</p>
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<p style="margin-right: 6px; text-align: right">15,126</p>
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<p style="margin-right: 6px; text-align: right">55</p>
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<p style="margin-left: 24px; text-align: left">Additionally, to avoid uncertainty caused by fluctuations in consolidated earnings and consolidated net assets at interim and year-end reporting dates, we are revising the DOE floor indicator to use consolidated net assets from the end of the previous fiscal year as the basis for dividend calculations. We are also excluding items affected by exchange rate fluctuations and other changes in capital components, placing greater emphasis on stability for our shareholders. Under the "27 Medium-Term Plan," we have set the floor indicator DOE at 2.5%.</p>
<p style="text-align: left"> </p>

<p>We determine the balance between dividend payments and retained earnings by comprehensively considering business performance, dividend payout ratio, future business development, and the soundness of our financial position. Our dividend policy targets a consolidated dividend payout ratio of 35% or higher in principle, with a minimum indicator of 1.5% DOE (Dividend on Equity). Under the Medium-Term Plan 2027, we will raise the minimum DOE indicator to 2.5% and revise our approach to emphasize stability based on consolidated net assets at the end of the previous fiscal year.</p>

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2026	Revision(2026/02/09)	65	118	183	-
	Forecast(2025/05/09)	65	66	131	62.1%
FY2025	Actual(2025/05/09)	49	55	104	173.4%
	Revision(2025/02/12)	49	55	104	-
	Forecast(2024/05/09)	49	50	99	48.6%
FY2024	Actual(2024/05/09)	35	63	98	45.9%
	Revision(2024/02/08)	35	63	98	-
	Revision(2023/11/08)	35	36	71	-
	Forecast(2023/05/10)	27	27	54	35.3%
FY2023	Actual(2023/05/10)	90	115	205	35.1%
	Revision(2023/02/08)	90	112	202	-
	Revision(2022/11/08)	90	85	175	-
	Forecast(2022/05/10)	87	88	175	35.1%
FY2022	Actual(2022/05/10)	113	188	301	29.4%
	Revision(2022/02/23)	113	109	258	-
	Revision(2022/02/08)	113	109	222	-
	Revision(2021/11/08)	113	71	184	-
	Forecast(2021/05/10)	71	62	133	35.1%
FY2021	Actual(2021/05/10)	22	99	121	35.1%
	Forecast(2020/11/09)	22	37	59	-
FY2020	Actual(2020/11/09)	39	39	78	-

Sumitomo Metal Mining Co., Ltd. (5713) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)