Rakuten Bank, Ltd.

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

<p class="smt_text2" style="orphans:0;widows:0;text-align:justify;padding-left:9pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:9pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:13pt;">As a listed company, we believe it is important to provide stable dividends to our shareholders.</p>

<p class="smt_text2" style="orphans:0;widows:0;text-align:justify;padding-left:9pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:9pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:13pt;">At the same time, as we are still in a growth phase, we believe that prioritizing the strengthening of retained earnings and accelerating business expansion and profit growth to maximize corporate value may provide more appropriate shareholder returns. We will assess the optimal balance between these two perspectives as circumstances warrant and work to enhance shareholder returns.</p>

<p class="smt_text2" style="orphans:0;widows:0;text-align:justify;padding-left:9pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:9pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:13pt;">Pursuant to Article 459 of the Companies Act, our Articles of Incorporation provide that dividends of surplus may be paid by resolution of the Board of Directors. Our Articles of Incorporation also provide that we may pay dividends of surplus with a record date of March 31 each year for year-end dividends and September 30 for interim dividends, as well as on other record dates as determined. We have not established a specific policy regarding the number of dividend payments.</p>

<p class="smt_text2" style="orphans:0;widows:0;text-align:justify;padding-left:9pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:9pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:13pt;">No dividends of surplus were paid during the current fiscal year.</p>

<p class="smt_text2" style="orphans:0;widows:0;text-align:justify;padding-left:9pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:9pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:13pt;">Additionally, dividend payments are subject to restrictions under Article 18 of the Banking Act. When paying dividends of surplus, notwithstanding the provisions of Article 445, Paragraph 4 of the Companies Act (regarding the amount of capital and reserves), we must record as capital reserves or earned surplus reserves an amount equal to one-fifth of the reduction in surplus resulting from such dividend payment.</p>

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<p>While we recognize the importance of providing stable dividends to shareholders, we prioritize building up internal reserves given our growth stage. We believe that maximizing corporate value through business expansion and improved profitability represents more appropriate shareholder returns. We will continuously assess the optimal balance between these two perspectives and work to enhance shareholder returns accordingly.</p>

Fiscal Year	Type	Interim	Year-End	Total	Payout Ratio
FY2026	Forecast(2025/05/12)	0	0	0	-
FY2025	Actual(2025/05/12)	0	0	0	-
	Forecast(2024/05/13)	0	0	0	-
FY2024	Actual(2024/05/13)	0	0	0	-
	Forecast(2023/05/10)	0	0	0	-
FY2023	Actual(2023/05/10)	0	0	0	-
FY2022	Actual(2023/05/10)	0	0	0	-

Rakuten Bank, Ltd. (5838) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)