Dialogue with Stakeholders

Fundamental Policy

The Company will strive to enhance trust by providing information to the capital markets in a timely, fair, and continuous manner while ensuring transparency and accountability in its disclosures, and to promote understanding of its efforts to increase corporate value and accurate assessment of the Company. Furthermore, through constructive dialogue between management and shareholders and investors, the Company will gain an appropriate understanding of how it is viewed and the state of the capital markets and provide that understanding and feedback to management and within the Company to lead to the improvement of management itself and further enhance corporate value.

In April 2023, we established the Global Communications Department, which is responsible for external IR, SR and PR as well as internal communications. We are accelerating efforts to further strengthen dialogue with a wide range of stakeholders, including capital markets, shareholders, the media and employees. In April 2024, we launched the New York Desk of the Global Communications Department to strengthen dialogue with overseas shareholders and investors and disseminate information.

From management to the capital markets: Disclosure and dialogue. From the capital markets to management: Feedback. Aiming to be the most trusted by the capital markets.

Dialogue with Investors

Dialogue with Institutional Investors

We hold financial result conference calls, IR conferences, and theme-focused strategy conferences both in person and on the Web (via live streaming worldwide). In addition to these conferences, we hold dialogues with shareholders and investors in Japan and overseas through 1on1 and group meetings. For details of the events held in FY2024, please refer to our Investor Relations page.

May 2024 IR conference

Status of Dialogue between the Management and Shareholders and Investors (FY2024)

	Number of times performed	Total number of participating companies	Summary
Financial results conference calls	Twice	306 companies	Explanation of financial results by CEO, CFO, IR team and related departments (conference call)
IR conference	Twice	322 companies	Explanation of management strategies, etc. by the CEO and each officer in charge (face-to-face and online). Outside directors also took the stage at the briefing in Nov.
Annual Investor Day	Twice	81 companies	IR conference for overseas institutional investors by CEO, CFO, Head of International Business, President of TMNF, and heads of European and American Group companies (New York and London. In-person and web delivery)
Theme-focused conferences	Once	97 companies	The CEO of Tokio Marine Seguradora (Brazil) explains the company's management and business strategy (webcast)
Domestic IR	-	356 companies	CEO, CFO, and the IR team conduct one-on-one and group meetings (face-to-face, conference call, and online)
Overseas IR	-	352 companies	CEO, CFO, and the IR team conduct one-on-one and group meetings (face-to-face and online)
Conferences hosted by securities companies	Five times	35 companies	CFO and the IR team conduct one-on-one and group meetings (face-to-face and online)

Dialogue with Individual Investors

Every year, we hold conferences for individual investors in which the Group CEO takes the stage. In fiscal 2024, we held briefings in Tokyo, Hiroshima, Osaka, and Aichi, with a total of 761 participants. Investors are satisfied with the Company’s easy-to-understand explanations that focus on the “Group’s Management Strategy” and “shareholder returns,” which are of great interest to individual investors. We will continue to engage in careful dialogue with our shareholders to expand our fan base and increase the number of individual shareholders and the percentage of shares held by individual shareholders.

Feedback

We are also making efforts to report the opinions obtained through dialogue with shareholders and investors widely to management and other members of the Company, and to reflect them in improvement of management. Many of our employees have no contact with the capital markets in their daily work, but through the IR/SR activity reporting sessions, they understand the voices of the capital markets, the evaluation of the Company, and the connection between their work and the capital markets. This has a positive impact on their own motivation and growth and, as a result, a virtuous circle of company growth is also created.

In FY2024, we also started web-based internal IR sessions for 6 overseas group companies. Combined with internal IR sessions for domestic employees, a total of approximately 2,600 employees were able to share and communicate with each other about our group's strategies and other matters.

(Reference) Matters of Interest to Shareholders and Investors

We utilize the following and other issues of interest to shareholders and investors not only in IR strategies, such as financial results and management strategy explanatory materials, contents of integrated reports, and disclosure methods, but also in enhancing group strategies, such as formulation of KPI targets and discussions on capital policy.

Management in general	Room and certainty for growth What are the trends in insurance underwriting and asset management, which form the basis of Organic Growth? How do you perceive the "angle" and "accuracy" of such growth? Is Tokio Marine Holdings stronger than Global Pier? Direction of capital policy (including M&A strategy) With surplus capital created through the sale of business-related equities, what kind of capital policy will your company implement? Is there any change in M&A strategy, including pipeline? AI and Digital Strategy As Peers strengthens its external disclosure, what are the specific areas of use and the scale of quantitative effects at Tokio Marine Holdings, as well as the progress in comparison with competitors?
Japan P&C	Evaluation of the Progress of the "Re-New" Transformation at TMNF How will the competitive landscape across the industry change? Can "Re-New" change be a driver of Organic Growth? Improving auto insurance earnings Given that loss costs have worsened compared to expectations, what is your future earnings outlook and policy based on the rate revision in Oct. 2025? Revenue outlook for fire insurance Profits have improved as a result of initiatives taken so far, but is it possible to secure profitability equivalent to capital costs? Can we make this sustainable? Expansion of new types of insurance What are your specific initiatives and room for further growth? Effectiveness of distribution change What is the feasibility of distribution reform, such as the elimination of the "two-tier structure" with agency and employee, and the progress of efforts?
Inter-national	Sustained high earnings growth What is the impact of current inflation (mainly social inflation)? What are the impacts and prospects of natural disasters, including secondary Peril? What is the sustainability of the rate increase (cycle status and outlook)? Impact of Trump's policies How do the Trump administration's policies (e.g., tariffs, etc.) affect business performance? Credit Asset Management by DFG What is the current status of DFG's credit asset management, including CRE loans?

Awards Related to Disclosure

As a result of these efforts, we have received various awards.