August 7, 2024
FOR IMMEDIATE RELEASE
Company Name: Asahi Group Holdings, Ltd.
Representative: Atsushi Katsuki,
President and Group CEO, Representative Director
Securities Code: 2502
Stock Listings: Tokyo Stock Exchange, Prime Market
Contact: Sasana Nemoto, Head of Corporate Communications
Phone: +81-3-5608-5126

Announcement Regarding Revision of Dividend Forecast and Abolition of theShareholder Benefit Program
Asahi Group Holdings, Ltd. (the “Company”) hereby announces that the Company has resolved to review
the shareholder return for this fiscal year and revise (increase) the dividend forecast for the year endingDecember 2024. Additionally, we have made the decision to abolish the shareholder benefit program.
１．Revision of Dividend Forecast and Abolition of the Shareholder Benefit Program
The Company has maintained a Medium-Term Guidelines for Financial Policy of prioritizing theallocation of generated free cash flow towards debt reduction and increasing flexibility for investment
in growth. We are expecting to meet our target of reducing Net Debt/EBITDA※１ from a projectedlevel of around 3 times or less in 2024 to 2.7 times in the current fiscal year plan, achieving the setguideline.
Based on this progress, we have decided to bring forward the achievement of the target dividend
payout ratio※２ of 40% by 2025, which was set as a guideline, in order to allocate this fiscal year's
free cash flow towards enhancing shareholder returns.
For dividends this fiscal year, we will increase the annual dividend amount to 141 yen※3 As for theincreased portion, we will set the year-end dividend at 75 yen※3
Additionally, after careful consideration from the viewpoint of fair profit distribution to all shareholders,the Company has decided to abolish the shareholder benefit program terminating the entitlement
after the end of December 2023 and concentrate on profit distribution through dividends, etc.

We will continue to strive for enhanced growth investments and shareholder returns while
maintaining financial stability, working towards the improvement of sustainable corporate value. We
kindly ask for your continued support.
※１ Net Debt/EBITDA(Net Debt to EBITDA ratio)＝(Gross debt − cash and equivalents)/EBITDA※２ Dividend payout ratio is calculated by deducting one-time gains/losses (after tax) relating to business portfolio
restructuring and impairment losses from profit attributable to owners of the parent※３ As announced today in the "Announcement Regarding Stock Split and Resulting Partial Amendment to the Articlesof Incorporation", the Company will conduct a stock split at a ratio of three shares for each share with a record dateof September 30, 2024. Therefore, the calculations are based on the pre-split conditions.

２．Details of the Revision
Annual Dividends
Second Quarter

Year-end

Total

Previous Forecast

JPY 66.00

JPY 132.00

Revised Forecast(pre-split conditions)

JPY 25.00(JPY 75.00)(JPY 141.00)

JPY 65.00

JPY 121.00

Current fiscal year

JPY 66.00

Previous fiscal year
(ended December 31,2023)

JPY 56.00(Note)

１．For the interim dividend of the year ending December 2024, with a record date of June 30, 2024, thepre-split number of shares will be used as the basis.
2． For the year-end dividend of the year ending December 2024, with a record date of December 31,
2024, the post-split number of shares will be used as the basis.

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