May 8, 2024
To All Stakeholders:CompanyRepresentative
Stock CodeListings
Contact

USS Co., Ltd.
Yukihiro Ando
Chairman and Representative Director
4732
Prime Market, Tokyo Stock Exchange
Premier Market, Nagoya StockExchange
Masafumi Yamanaka
Executive Vice President,Officer, Supervisory Office(Tel +81-52-689-1129)

Notice of Three-year Earnings Distribution Policy and Payment of Dividends (Increase)
The board of directors of USS Co., Ltd. approved resolutions on May 8, 2024, concerning an earnings
distribution policy for the three-year period ending with the fiscal year ending in March 2027 anddividends of surplus with a record date of March 31, 2024.
The new dividend is planned to be 75.40 yen per share, which is 7.90 yen higher than the dividend forthe previous fiscal year.
1. Three-year earnings distribution policy (FY3/25-FY3/27)

Previous policy anddistributions

Consolidated dividend payout ratio of at least 55%
Stock repurchases at times determined by the price of USS stock, capital
expenditure plans, cash flows and other considerations
Plan for a dividend increase for the fiscal year ended March 2024, the24th consecutive fiscal year dividend increase since USS stock waslisted in the fiscal year ended March 2000
Consolidated dividend payout ratio of at least 55%
Total earnings payout ratio of at least 80%

Three-year distribution
policyPlan to repurchase a sufficient volume of stock for a total payout ratio of atleast 80% in each fiscal year
Stock repurchases will be announced promptly as decisions about the timing
and number of shares are made.

In previous years, the policy for earnings distributions was a consolidated dividend payout ratio of atleast 55% and stock repurchases at times determined by the price of USS stock, capital expenditureplans, cash flows and other considerations. A dividend increase is planned for the fiscal year ended
March 2024, which is the 24th consecutive fiscal year dividend increase since USS stock was listed in
the fiscal year ended March 2000.
1During the next three fiscal years, USS plans to make an investment for growth totaling more than 20billion yen. This investment is for achieving the medium- to long-term goal to increase the share of theautomobile auction market in Japan to 50% (39.6% in 2023), and to expand the scale of Recycle business.
In addition, in association with a reexamination of the importance of using capital efficiently, USS has
decided that distributions to shareholders should be increased as part of measures for the growth ofshareholder value. Consequently, USS has established a shareholder distribution policy for the threefiscal years ending with the fiscal year ending in March 2027 that consists of a consolidated payout ratioof at least 55% and a total earnings payout ratio of at least 80%.
2. Dividends of surplus (Increase)1) Dividend summary

Determined amount

Most recent dividend
forecast(Announced onFebruary 6, 2024)

Actual results for theprevious fiscal year
(Fiscal year ended
March 31, 2023)

Record date

March 31, 2024

March 31, 2024

March 31, 2023

Dividend per share¥40.70¥38.40¥33.80Total amount of¥9,787 million–¥8,268 million

Effective dateJune 26, 2024–

June 21, 2023

Source of dividends

Retained earnings–

Retained earnings

dividends

Note: There was a two-for-one split of USS stock on April 1, 2024. Dividends for the fiscal years ended
March 2023 and 2024 are the amounts before this stock split.
2) Reason
USS has a policy of maintaining a consolidated dividend payout ratio of at least 55%. Results ofoperations for the fiscal year that ended in March 2024, which were announced today, exceeded theforecast. As a result, the fiscal year-end dividend forecast has been increased by 2.30 yen to 40.70 yen.
* Actual dividend and forecast for the current fiscal year
Dividend per share (Yen)Record date

Second quarter-end

Actual results for the current
fiscal year¥34.70

Actual results for the previousfiscal year
(Fiscal year ended March 31,2023)¥33.702

Fiscal-year endTotal¥40.70¥75.40(Planned)(Planned)¥33.80¥67.50(Reference) Image of Total payout ratio Trends For the next 3 years(Reference) Forecasting 24 consecutive years of dividend growth since listing in March 2000

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