Investor Presentaiton

Seven & i's History of Unsatisfactory Response to Shareholders Investors have repeatedly expressed similar feedback on strategy and performance; management has not provided strategic clarity or responded with real action, instead deflecting criticism with performative dialogue Abrdn (Aberdeen Standard Investments) Votes Against Directors "All directors should be responsible on company's poor performance of the speed of restructuring. abrdn We think the board's actions are not reflective of good governance and they should be responsible." Source a TOKIO MARINE ASSET MGT Tokio Marine Voted against the re-election of President Ryuichi Isaka and Katsuhiro Goto. Source a abrdn Abrdn "We exited Seven & i due to slow progress on restructuring non- 2015 2019 2020 2021 performing businesses in spite of our continued engagement." Source 2022 THIRD POINT Third Point requests that the Company sell its underperforming operations (namely Ito- Yokado). Source FRANKLIN TEMPLETON INVESTMENTS חום THIRD AVENUE MANAGEMENT Franklin Templeton “...depressed valuations seem to indicate the market is ignoring the firm's strong overseas operations, defensive domestic business, underleveraged balance sheet and continued scope for restructuring progress." Source Third Avenue Management "Finally, it is our view that if the U.S. 7-Eleven business were to be valued independently at a multiple similar to publicly-listed comparable companies, the undervaluation of Seven & I would become glaringly clear." Source ARTISAN PARTNERS Artisan Partners "address the distinct differences between the company's valuable convenience store assets and the company's other retail businesses." Source 60

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