GRANDBLUE ENVIRONMENT CO., LTD.

The company has stipulated in its Articles of Association
the decision-making procedures for dividends. The related provisions of its dividend policies are as follows:

In principle, the accumulated profits distributed in cash by the company in the last three years shall not be less than 30% of the average annual distributable profits in these three years, and the specific dividend distribution ratio for each year shall be proposed by the Board of Directors of the company, taking into account the features of the industry in which the company is located, the company’s development stage, business model, and profitability level, and whether there are significant capital expenditure arrangements, etc., while considering the following circumstances (Article 202 of the Articles of Association):
Decision-making and implementation procedures with respect to dividend distribution.
Following the end of each fiscal year, the company’s management or the Board of Directors shall propose reasonable dividend distribution schemes and plans, taking into account the company’s profitability, capital requirements, and shareholder return planning (Article 206 of the Articles of Association).
The distribution proposal shall be approved by the Board of Directors and submitted to the General Meeting of Shareholders for deliberation and approval Article 206 of the Articles of Association).
Should the Shareholders' Meeting adopt a proposal regarding cash dividends, share bonuses, or capitalization of capital reserves, the company shall implement the specific proposal within 2 months after the conclusion of the Shareholders' Meeting (Article 48 of the Articles of Association).

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