May 10, 2024
To whom it may concern:

Company name: Mitsubishi Estate Co., Ltd.
Representative: Atsushi Nakajima,
President and Chief Executive Officer
Securities code: 8802
Contact:
Keiko Nakano,
General Manager of theCorporate Communications Department
Telephone:+81-3-3287-5200

Notice Concerning the Determination of Share Repurchase and theCancellation of Treasury Stocks（Repurchase of Shares under Articles of Incorporation pursuant to Article 165,
Paragraph 2 of the Companies Act and Cancel the treasury shares pursuant to Article
178 of the Companies Act）

Mitsubishi Estate Co., Ltd. (hereafter the “Company”) announces that, at a meeting of Board ofDirectors on May 10, 2024, pursuant to the delegation of authority approved by resolutions of theBoard of Directors of the Company, the President and Chief Executive Officer of the Company
resolved to repurchase its own shares under Article 156 which is applicable pursuant to Article 165,
Paragraph 3 of the Companies Act, to change its dividend policy and to cancel treasury stocks
pursuant to Article 178. Details are as follows.
1. Purpose of the Share Repurchase and Dividend Policy Change
After reviewing the Long-Term Management Plan 2030, considering the upward growth prospects
and financial conditions, the Company has decided to repurchase its own shares and change thedividend policy as part of the capital policy.
2. Details of Share Repurchase(1)(2)

Class of shares to be repurchased
Total number of shares to berepurchased

Common shares
32,000,000 shares (Maximum)(2.53 % of outstanding shares (excludingtreasury stock))(3)

Total amount of repurchase price50 billion yen (Maximum)(4)

Period of repurchase

From May 13, 2024 to November 11, 2024

(5)

Method of repurchaseOpen market purchase on the Tokyo Stock
Exchange※The repurchase will not be implemented from July 11, 2024 to July 17, 2024 within the period ofrepurchase, as the Company may consider granting restricted stock compensation under theremuneration system for corporate executive officers.
3. Details of Cancellation of treasury stocks
(1)
(2)
(3)

Class of shares to be cancelled

Common shares
53,012,100 shares (Maximum)

Total number of shares to be(4.00 % of the total number of issued

cancelledshares before cancellation)

Scheduled date of the cancellation

May 31, 2024※The total number of shares to be cancelled is 53,012,100 shares excluding 4,000,000 shares thatare expected to be used in the future for disposal of treasury shares as restricted stockcompensation and etc. of 57,012,100 shares that were repurchased by resolutions of the Board ofDirectors` meetings on November 10, 2022. After the cancellation, the total number of issued
shares of the Company will be 1,271,276,206 shares.
※ The share repurchase as described in 2. of the resolution adopted today will be cancelled on
November 30, 2024(References) The status of treasury stocks as of March 31, 2024
Total number of outstanding shares

1,324,288,306 shares(including treasury stocks)
Number of treasury stocks

58,052,023 shares

4. Change Dividend Policy
In terms of continuous and stable shareholder returns, progressive dividend payments of ¥3 foreach fiscal year is implemented until FY 2030. Dividend for FY2030 is expected to be ¥60 or more
per share. In addition, the dividend forecast for FY2024 is ¥43 per share, ¥3 higher than that ofthe previous fiscal year.
(References) Dividend
Middle of theEnd of theFiscal YearFiscal Year

¥20

¥20

¥40

30.3％

FY2024(Forecasts) ¥21

¥22

¥43

31.2％

FY2023

Total

Dividend Payout
Ratio (Consolidated)

End of document