Investor Presentaiton

Seven & i Holdings Today: Slow Pace of Change, Many Structural Issues Identified for Years Have Not Been Fixed 100 Day Plan Announced in 2016 (Medium-Term Management Plan) Status 6 Years Later Investment Ito-Yokado ROIC still below WACC Efficiency Low return on capital expenditures Sogo & Seibu ROIC still below WACC M&A Low return on acquisition price (Sale could address this) Special Losses "Our response to underperforming businesses presents issues" Special losses continue Sources: Public company documents, VAC analysis 15

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