Asahi : Notice of Cash Dividends from Retained Earnings

February 15, 2018

For immediate release

Company Name: Asahi Group Holdings, Ltd.

President and Representative Director: Akiyoshi Koji

Stock Ticker: 2502

Stock Listings: Tokyo Stock Exchange, First Section

Contact: Takayuki Tanaka

General Manager

Public Relations Section

Phone: +81-3-5608-5126

Notice of Cash Dividends from Retained Earnings

Tokyo, Japan - Asahi Group Holdings, Ltd. (the "Company") announced on February 15, 2018, that its Board of Directors has resolved to pay a year-end cash dividend of which the record date is December 31, 2017 in the way indicated below.

The payment of the dividend is subject to the resolution at Annual General Meeting of Shareholders to be held on March 27, 2018.

1. Details of Dividend

2. Reason for the decision

As stated in the shareholder returns policy included in the Medium-Term Management Policy in February 2016, the Company aims for a steady increase in dividends, targeting to achieve a dividend payout ratio of 30% (IFRS base) by FY 2018.

Based on this policy, the Company announced its forecast in August 2017, at the time the second quarter consolidated financial results was announced, to pay a full-year dividends of ¥ 69 per share in FY2017, ¥ 4 higher with the interim dividend and ¥ 11 higher with the year-end dividends than those in the previous fiscal year, respectively.

Based on the policy with a consideration of consolidated financial results, the Company has decided to pay a year-end dividend of ¥45.0 per share, ¥17.0 higher than the previous fiscal year, making the full-year dividend of ¥75.0 per share, ¥21.0 higher than the previous fiscal year.

Breakdown of full-year dividend (for reference)