Mirae Asset Securities "At least 15 million common shares to be canceled annually for the next 3 years"

Industry-First Shareholder Return Policy Announced Specifying Treasury Stock Cancellation Volume
Shareholder Return Tendency Maintains Over 35% of Adjusted Net Income for 3 Years

Mirae Asset Securities has announced an enhanced shareholder return policy, including the cancellation of at least 15 million common shares annually over the next three years.

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On the 22nd, Mirae Asset Securities held a board meeting and announced the approval of a shareholder return policy applicable for the three years from 2024 to 2026.

This shareholder return policy aims to maintain a minimum payout ratio of 35% of adjusted net income and consists of share buybacks, cancellations, and dividends.

Notably, for the first time in the industry, the company specified the volume of treasury shares to be canceled, demonstrating its commitment to shareholder returns regardless of performance. The company plans to cancel at least 15 million common shares and 1 million Class 2 preferred shares annually, using shares acquired through buybacks followed by cancellation or utilizing treasury shares already held from market purchases.

Through this board meeting, Mirae Asset Securities also decided to cancel 10 million common shares (valued at 82.2 billion KRW) and pay dividends totaling approximately 89.8 billion KRW. The total amount is about 172 billion KRW, representing a shareholder return ratio of approximately 52.6% relative to adjusted net income (based on consolidated controlling shareholder basis).

Mirae Asset Securities explained that this announcement maintains predictability and consistency in medium- to long-term shareholder returns and is a proactive measure to enhance shareholder value in line with the corporate value-up program as a leading securities firm. A company representative stated, "This shareholder return policy reflects the group's commitment to protecting shareholder rights and interests," adding, "As a leading securities firm, we will fulfill our role to grow together with our shareholders."

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