Investor Presentaiton

And >85% Higher Per-Share Value Than The MTMP Global Champion 7-Eleven Value Per Share Potential ¥12,708 1,209 >85% higher 2,211 640 ¥6,848 1,896 ¥5,786 967 Seven & i (Current) Multiple expansion on US operational improvement International expansion current earnings Organic growth and capital allocation Exit non-core businesses Seven & i potential (Feb 2025) Seven & i MTMP (Feb 2025) Sources: Public company documents, VAC analysis Memo: Seven & i current share price as of 2/4/2021 close. Exit P/E is 17x forward EPS. FX assumed to be 105 JPY/USD to align with MTMP. All EPS figures are adjusted for goodwill amortization and one-time expenses. 39

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